Common use of Nature of the Agreement Clause in Contracts

Nature of the Agreement. In order to induce the Executive to remain in the employ of the Company, the Company agrees, under the conditions described herein, to pay the Executive the severance payments and benefits described herein. Except as provided in Section 7 hereof and Section 11 hereof, no amount or benefit shall be payable under this Agreement unless Executive is employed at the time of the Change in Control and there shall have been a termination of the Executive's employment with the Company following the Change in Control and during the Agreement Period.

Nature of the Agreement. In order to induce the Executive to remain ----------------------- in the employ of the Company, the Company agrees, under the conditions described herein, to pay the Executive the severance payments and benefits described herein. Except as provided in Section 7 hereof and Section 11 12 hereof, no amount or benefit shall be payable under this Agreement unless Executive is employed at the time of the Change in Control and there shall have been a termination of the Executive's employment with the Company following the Change in Control and during the Agreement Period.

Nature of the Agreement. In order to induce the Executive to remain in the employ of the Company, the Company agrees, under the conditions described herein, to pay the Executive the severance payments and benefits described herein. Except as provided in Section 7 hereof and Section 11 12 hereof, no amount or benefit shall be payable under this Agreement unless Executive is employed at the time of the Change in Control and there shall have been a termination of the Executive's employment with the Company following the Change in Control and during the Agreement Period.