Change in Control Protection Period Sample Clauses
The Change in Control Protection Period clause defines a specific timeframe during which certain protections or benefits are triggered for an employee or party if a change in control of the company occurs. Typically, this period begins upon the announcement or completion of a merger, acquisition, or similar transaction and lasts for a set duration, such as 12 to 24 months. During this time, enhanced severance, accelerated vesting, or other contractual rights may apply if the individual's employment is terminated under specified circumstances. The core function of this clause is to safeguard employees or stakeholders from adverse employment actions or loss of benefits resulting from organizational changes, thereby providing stability and reducing uncertainty during transitions.
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Change in Control Protection Period. The time period (i) commencing on the earlier to occur of (A) execution of a definitive acquisition agreement contemplating a Change in Control and (B) consummation of a Change in Control, and (ii) ending (A) twenty-four (24) months following the consummation of such Change in Control or (B) if the Change in Control is not consummated, that date on which the definitive acquisition agreement expires or is terminated.
Change in Control Protection Period. (a) During the Term, if, during a Change in Control Protection Period, (1) the Company shall terminate Executive’s employment other than for Cause, Disability or death, or (2) Executive shall terminate employment for Good Reason, then the Company shall pay or provide the following amounts and benefits to Executive, in addition to the Accrued Obligations:
Change in Control Protection Period. If, during a Change in Control Protection Period, the Company terminates Executive’s employment without Cause or Executive terminates employment for Good Reason, then the Company shall pay or provide the following amounts and benefits to Executive, in addition to the Accrued Obligations:
Change in Control Protection Period. A "Change of Control" shall be deemed to occur on the date that any of the following events occur:
(a) any person or persons acting together which would constitute a "group" for purposes of Section 13(d) of the Exchange Act (other than the Company or any subsidiary) shall beneficially own (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, at least 25% of the total voting power of all classes of capital stock of the Company entitled to vote generally in the election of the Board;
(b) either (i) Current Directors (as herein defined) shall cease for any reason to constitute at least a majority of the members of the Board (for these purposes, a "Current Director" shall mean any member of the Board as of the date hereof, and any successor of a Current Director whose election, or nomination for election by the Company's shareholders, was approved by at least two-thirds of the Current Directors then on the Board) or (ii) at any meeting of the shareholders of the Company called for the purpose of electing directors, a majority of the persons nominated by the Board for election as directors shall fail to be elected;
Change in Control Protection Period. For purposes of this Agreement, “Change in Control Protection Period” means (i) for a Participant who is a covered participant in the Company’s Income Continuity Plan (or its successor) as of the employment termination date, the applicable protection period for a severance qualifying termination as specified therein and (ii) for all other Participants, the 24-month period following a Change in Control.
Change in Control Protection Period. “Change in Control Protection Period” means the period beginning three (3) months prior to and ending twelve (12) months immediately following the consummation of a Change in Control.
Change in Control Protection Period. The period commencing on a Change in Control and ending on the second anniversary of the Change in Control.
Change in Control Protection Period. A period of two years following a Change in Control.
Change in Control Protection Period. If, during a Change in Control Protection Period, the Company terminates Executive’s employment without Cause or Executive terminates employment for Good Reason, then the Company shall pay or provide the following amounts and benefits to Executive, in addition to the Accrued Obligations:
(a) Severance Payment. Executive will be paid an amount equal to two (2) times the sum of Executive’s Annual Salary and Target Bonus in effect immediately prior to the Date of Termination. Such severance shall be paid in a lump sum within sixty (60) days following the Date of Termination.
Change in Control Protection Period. For purposes of this Agreement, the term "Change in Control Protection Period" shall mean the Pre Change in Control Period and the Post Change in Control Period as defined below.