Common use of Undertaking Clause in Contracts

Undertaking. Subject to Section 4, the Company agrees to pay or provide to Executive the termination benefits specified in Section 2 hereof if: (a) within three (3) years after, a Change in Control (as defined in subsection 3(b) hereof): either (i) the Company terminates the employment of Executive before age sixty-five (65) for any reason other than Good Cause (as defined in subsection 3(g) hereof), death, Disability (as defined in subsection 3(f) hereof), or (ii) Executive voluntarily terminates his employment for Good Reason (as defined in subsection 3(h) hereof), or (b) the employment of the Executive is terminated before such a Change in Control, or an anticipated Change in Control, and the Executive reasonably demonstrates that such termination occurred in connection with, or in anticipation of such a Change in Control (whether or not such Change in Control actually occurs).

Appears in 12 contracts

Samples: Control Agreement (Lilly Industries Inc), Control Agreement (Lilly Industries Inc), Control Agreement (Lilly Industries Inc)

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Undertaking. Subject to Section 4, the Company agrees to pay or provide to Executive the termination benefits specified in Section 2 hereof if: (a) within three (3) years after, a Change in Control (as defined in subsection 3(b) hereof): either (i) the Company terminates the employment of Executive before age sixty-five (65) for any reason other than Good Cause (as defined in subsection 3(g) hereof), death, Disability (as defined in subsection 3(f) hereof), or (ii) Executive voluntarily terminates his employment for Good Reason (as defined in subsection 3(h) hereof), or (b) the employment of the Executive is terminated before such a Change in Control, or an anticipated Change in Control, and the Executive reasonably demonstrates that such termination occurred in connection with, or in anticipation of such a Change in Control (whether or not such Change in Control actually occurs).

Appears in 2 contracts

Samples: Control Agreement (Lilly Industries Inc), Control Agreement (Lilly Industries Inc)

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Undertaking. Subject to Section 4, the Company agrees to pay or provide to Executive the termination benefits specified in Section 2 hereof if: (a) within three (3) years after, a Change in Control (as defined in subsection 3(b) hereof): either (i) the Company terminates the employment of Executive before age sixty-five (65) for any reason other than Good Cause (as defined in subsection 3(g3(h) hereof), death, Disability (as defined in subsection 3(f3(g) hereof), or (ii) Executive voluntarily terminates his employment for Good Reason (as defined in subsection 3(h3(i) hereof), or (b) the employment of the Executive is terminated before such a Change in Control, or an anticipated Change in Control, and the Executive reasonably demonstrates that such termination occurred in connection with, or in anticipation of such a Change in Control (whether or not such Change in Control actually occurs).

Appears in 1 contract

Samples: Control Agreement (Lilly Industries Inc)

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