Common use of Establishment, Term, and Purpose Clause in Contracts

Establishment, Term, and Purpose. This Agreement is effective from the Effective Date and will continue in effect until December 31, 2015. On that date, and on each subsequent December 31st, the term of this Agreement will be extended automatically for one (1) additional year, unless the Committee delivers written notice six (6) months prior to such date to the Executive that this Agreement will not be extended. If timely notice not to extend is given, this Agreement will terminate at the end of the term, or extended term, then in progress. However, in the event a Change in Control occurs during the original or any extended term, this Agreement will remain in effect for the longer of: (i) twenty-four (24) months beyond the end of the month in which such Change in Control occurred; and (ii) until all obligations of the Company hereunder have been fulfilled, and until all benefits required hereunder have been paid to the Executive.

Appears in 10 contracts

Samples: Severance Agreement (FMC Corp), Executive Severance Agreement, Severance Agreement (FMC Corp)

AutoNDA by SimpleDocs

Establishment, Term, and Purpose. This Agreement is effective from will commence on the Effective Date and will continue in effect for a three (3) year term, until December 31, 2015the third anniversary of the Effective Date. On that date, and on Upon each subsequent December 31stanniversary of the Effective Date, the term of this Agreement will be extended automatically for one (1) additional year, unless the Committee delivers written notice six (6) months prior to such date anniversary to the Executive that this Agreement will not be extended. If timely notice not to extend is givenIn such case, this Agreement will terminate at the end of the term, or extended term, then in progress. However, in the event a Change in Control occurs during the original or any extended term, this Agreement will remain in effect for the longer of: (i) twenty-four (24) months beyond the end of the month in which such Change in Control occurred; and (ii) until all obligations of the Company hereunder have been fulfilled, and until all benefits required hereunder have been paid to the Executive.

Appears in 8 contracts

Samples: Severance Agreement (John Bean Technologies CORP), Severance Agreement (John Bean Technologies CORP), Severance Agreement (FMC Technologies Inc)

Establishment, Term, and Purpose. This Agreement is effective from the Effective Date and will continue in effect for a three (3) year term, until December 31, 2015the third anniversary of the Effective Date. On that date, and on Upon each subsequent December 31stanniversary of the Effective Date, the term of this Agreement will be extended automatically for one (1) additional year, unless the Committee delivers written notice six (6) months prior to such date anniversary to the Executive that this Agreement will not be extended. If timely notice not to extend is givenIn such case, this Agreement will terminate at the end of the term, or extended term, then in progress. However, in the event a Change in Control occurs during the original or any extended term, this Agreement will remain in effect for the longer of: (i) twenty-four (24) months beyond the end of the month in which such Change in Control occurred; and (ii) until all obligations of the Company hereunder have been fulfilled, and until all benefits required hereunder have been paid to the Executive.

Appears in 3 contracts

Samples: Severance Agreement (FMC Corp), Severance Agreement (FMC Corp), Severance Agreement (FMC Corp)

Establishment, Term, and Purpose. This Agreement is effective from the Effective Date and will continue in effect until December 31April 1, 20152020. On that date, and on each subsequent December 31stanniversary thereof, the term of this Agreement will be extended automatically for one (1) additional year, unless the Committee delivers written notice six (6) months prior to such date to the Executive that this Agreement will not be extended. If timely notice not to extend is given, this Agreement will terminate at the end of the term, or extended term, then in progress. However, in the event a Change in Control occurs during the original or any extended term, this Agreement will remain in effect for the longer of: (i) twenty-four (24) months beyond the end of the month in which such Change in Control occurred; and (ii) until all obligations of the Company hereunder have been fulfilled, and until all benefits required hereunder have been paid to the Executive.

Appears in 2 contracts

Samples: Executive Severance Agreement (FMC Corp), Executive Severance Agreement (FMC Corp)

Establishment, Term, and Purpose. This Agreement is effective from the Effective Date and will continue in effect until December 31, 2015[●]. On that date, and on each subsequent December 31stanniversary thereof, the term of this Agreement will be extended automatically for one (1) additional year, unless the Committee delivers written notice six (6) months prior to such date to the Executive that this Agreement will not be extended. If timely notice not to extend is given, this Agreement will terminate at the end of the term, or extended term, then in progress. However, in the event a Change in Control occurs during the original or any extended term, this Agreement will remain in effect for the longer of: (i) twenty-four (24) months beyond the end of the month in which such Change in Control occurred; and (ii) until all obligations of the Company hereunder have been fulfilled, and until all benefits required hereunder have been paid to the Executive.

Appears in 1 contract

Samples: Form of Executive Severance Agreement (Livent Corp.)

AutoNDA by SimpleDocs

Establishment, Term, and Purpose. This Agreement is effective from the Effective Date and will continue in effect until December 31, 2015. On that date, and on each subsequent December 31st, the term of this Agreement will be extended automatically for one (1) additional year, unless the Committee delivers written notice six (6) months prior to such date to the Executive that this Agreement will not be extended. If timely notice not to extend is given, this Agreement will terminate at the end of the term, or extended term, then in progress. However, in the event a Change in Control occurs during the original or any extended term, this Agreement will remain in effect for the longer of: (i) twenty-four (24) months beyond the end of the month in which such Change . in Control occurred; and (ii) until all obligations of the Company hereunder have been fulfilled, and until all benefits required hereunder have been paid to the Executive.

Appears in 1 contract

Samples: Severance Agreement (FMC Corp)

Establishment, Term, and Purpose. This Agreement is effective from will commence on the Effective Date and will continue in effect until December 31, 2015the End Date (defined below). On that date, Upon the End Date and on each subsequent December 31stanniversary thereafter of the End Date, the term of this Agreement will be extended automatically for one (1) additional year, unless the Committee delivers written notice six (6) months prior to such date anniversary to the Executive that this Agreement will not be extended. If timely notice not to extend is givenIn such case, this Agreement will terminate at the end of the term, or extended term, then in progress. However, in the event a Change in Control occurs during the original or any extended term, this Agreement will remain in effect for the longer of: (i) twenty-four (24) months beyond the end of the month in which such Change in Control occurred; and (ii) until all obligations of the Company hereunder have been fulfilled, and until all benefits required hereunder have been paid to the Executive.

Appears in 1 contract

Samples: Severance Agreement (FMC Technologies Inc)

Establishment, Term, and Purpose. This Agreement is effective from the Effective Date and will continue in effect for a three (3) year term, until December 31, 2015the third anniversary of the Effective Date. On that date, and on Upon each subsequent December 31stanniversary of the Effective Date, the term of this Agreement will be extended automatically for one (1) additional year, unless the Committee delivers written notice six (6) months prior to such date anniversary to the Executive that this Agreement will not be extended. If timely notice not to extend is givenIn such case, this Agreement will terminate at the end of the term, or extended term, then in progress. However, in the event a Change in Control occurs during the original or any extended term, this Agreement will remain in effect for the longer of: (i) twenty-four (24) months beyond the end of the month in which such Change in Control occurred; and (ii) until all obligations of the Company hereunder have been fulfilled, and until all benefits required hereunder have been paid to the Executive.

Appears in 1 contract

Samples: Executive Severance Agreement (FMC Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.