Shellbridge definition
Examples of Shellbridge in a sentence
The benefits under the long term disability program are governed by the terms of the policy of insurance in force, and Shellbridge assumes no liability to provide such benefits.
The Employee agrees that Shellbridge may substitute, reduce, modify or, if necessary, eliminate such benefits for good and valid reason.
The Employee will promptly disclose to Shellbridge any actual or proposed activity of the Employee which may give rise to any conflict with the Employee’s duty to Shellbridge.
The Employee agrees to accept such payment in full satisfaction of any and all claims the Employee has or may have against Shellbridge and the Employee agrees to execute a Full and General release in favour of Shellbridge with respect to the same upon payment of said sum, except monies owing by either party to the other up to the Date of CCR Resignation.
Accordingly, Shellbridge agrees that if the Employee elects to resign based on the sole reason that there has been a takeover of the control of Shellbridge (as defined in paragraph 1.3), then the Employee may give notice of resignation in writing to his/her superior and, if appropriate, the Directors (“Change in Control Resignation” or “CCR”).
Any monies owed by the Employee to Shellbridge up to the date of termination shall be then paid by the Employee to Shellbridge.
For purposes of this Agreement takeover of control shall be evidenced by the acquisition by any person, or by any person and its affiliates, as such terms are defined in the Business Corporations Act (Alberta), and whether directly or indirectly, of common shares of Shellbridge which, when added to all other common shares of Shellbridge at the time held by such person and its affiliates, totals for the first time 50% of the outstanding common shares of Shellbridge.
Failure of Shellbridge to obtain such agreement prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle the Employee to compensation from Shellbridge in the same amount and on the same terms as the Employee would be entitled hereunder pursuant to paragraph 4.5 as if such succession had not occurred, except that for purposes of implementing the foregoing, the date of which any such succession becomes effective shall be deemed the date of termination.
The Employee agrees that such reimbursements shall be due only after the Employee has rendered an itemized expense account, together with receipts where applicable, showing all monies actually expended on behalf of Shellbridge and such other information as may be required and requested by Shellbridge.
All such plans or programs shall be governed by the policies of the various regulatory bodies which have jurisdiction over the affairs of Shellbridge.