Company’s Reservation of Rights Clause Samples
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Company’s Reservation of Rights. The Company reserves the right to discontinue or modify its compensation, incentive, benefit, and perquisite plans, programs, and practices at any time and from time to time. Moreover, the brief summaries contained herein are subject to the terms of such plans, programs, and practices. For purposes of any and all employee benefit plans, the definition of compensation is as stated in such plans. The severance benefits payable under Section 6 are in lieu of all other severance benefits which the Executive would otherwise be entitled to receive from the Company and any Related Company, except as may otherwise be provided in a written agreement specifically referencing this Section 14. The Executive acknowledges and agrees that the severance benefits to which the Executive may become entitled under this Agreement are in excess of those to which the Executive would be entitled to under the Company’s otherwise applicable severance pay plans, and that the Company is agreeing to provide such severance benefits in consideration for the Executive’s agreement to the terms and conditions of Section 5 of this Agreement.
Company’s Reservation of Rights. Employee acknowledges and understands that the Employee serves at the pleasure of the Board and that the Company has the right at any time to terminate Employee's status as an employee of the Company, or to change or diminish his status during the Employment Term, subject to the rights of the Employee to claim the benefits conferred by this Agreement.
Company’s Reservation of Rights. The Employee acknowledges and understands that (i) the Employee is employed at will by either the Company or one of its Affiliates (the “Employer”), (ii) the Employee serves at the pleasure of the board of directors of the Employer, and (iii) the Employer has the right at any time to terminate the Employee’s status as an employee, or to change or diminish his status during the Employment Term, subject to the rights of the Employee to claim the benefits conferred by this Agreement. Notwithstanding any other provisions of this Agreement to the contrary, this Agreement shall not entitle the Employee or his legal representatives to any severance or other benefits of any kind prior to a Change of Control or to any such benefits if Employee is not employed by the Company or one of its Affiliates on the date of a Change of Control, except in each case for those rights afforded under Section 3.9.
Company’s Reservation of Rights. Executive acknowledges and understands that the Executive serves at the pleasure of the Board and that the Company has the right at any time to terminate Executive’s status as an employee of the Company or any of its Affiliates, or to change or diminish his status during the Employment Term, subject to the rights of the Executive to claim the benefits conferred by this Agreement.
Company’s Reservation of Rights. SECTION 5.1 Company’s Reservation of Rights. The Company reserves the right, without any consent, vote or other action by holders of bonds of the Bonds, or of any other subsequent series, to amend the Mortgage, as heretofore amended and supplemented, as follows: If the Trust Indenture Act of 1939, as in effect at any time and from time to time,
(i) shall require one or more changes to any provisions hereof or the inclusion herein of any additional provisions, or shall by operation of law be deemed to effect such changes or incorporate such provisions by reference or otherwise, this Indenture shall be deemed to have been amended so as to conform to the Trust Indenture Act as then in effect, and the Company and the Trustee may, without the consent of any holders of bonds, enter into an indenture supplemental hereto to evidence such amendment hereof; or
(ii) shall permit one or more changes to, or the elimination of, any provisions hereof which shall theretofore have been required by the Trust Indenture Act of 1939 to be contained herein or are contained herein to reflect any provisions of the Trust Indenture Act of 1939, this Indenture shall be deemed to have been amended to effect such changes or elimination, and the Company and the Trustee may, without the consent of any holders of bonds, enter into an indenture supplemental hereto to evidence such amendment hereof.
Company’s Reservation of Rights. Employee acknowledges and ------------------------------- understands that the Employee serves at the pleasure of the Board and that the Company has the right at any time to terminate Employee's status as an employee of the Company, or to change or diminish his status as the Chief Executive Officer during the Employment Term, subject to the rights of the Employee to claim the benefits conferred by Section 7(a) hereof if such action constitutes a termination by the Company without Cause or a termination by the Employee for Good Reason.
Company’s Reservation of Rights. Employee acknowledges and understands that the Employee serves at the pleasure of the President of the Central Division of the Company, and that the Company has the right at any time to terminate Employee's status as an employee of the Company, or to change or diminish his status during the Employment Term, subject to the rights of the Employee to claim the benefits conferred by this Agreement.
Company’s Reservation of Rights. With reasonable notice to Broker, we specifically reserve the right, among other rights, to: discontinue brokering policies of insurance for any carrier; implement and modify rules and regulations of the Company; cease doing business in any state or geographic defined area; modify any Schedule of Commissions; or make periodic revisions to this Broker Agreement and addendum or addendum thereto, provided such periodic revisions are made to all existing Broker's Agreement in force at the time of such revision.
Company’s Reservation of Rights. Employee acknowledges and understands that the Employee serves at the pleasure of the Board and that the Company has the right at any time to terminate Employee's status as an employee of the Company, or to change or diminish his status as the Chief Executive Officer during the Employment Term, subject to the rights of the Employee to claim the benefits conferred by Section 7(a) hereof if such action constitutes a termination by the Company without Cause or a termination by the Employee for Good Reason.
Company’s Reservation of Rights. Company reserves the right at any time to:
(a) discontinue, modify or upgrade existing Authorized Products and Authorized Software; provided, however, that Company shall notify Distributor ninety (90) days in advance of any product discontinuance, shall directly or indirectly provide factory repairs for such product to Distributor for a period of seven (7) years from its discontinuance, and shall directly or indirectly provide spare parts, replacement equipment, Authorized Software and Related Documentation and all other equipment, software, diagnostics and manuals required to service and maintain the Authorized Products, Authorized Software and Related Documentation for such product to Distributor for a period of five (5) years from its discontinuance;
(b) nondiscriminatorily sell to Distributor any Authorized Products and Authorized Software of the Authorized Trademark brands of which Distributor is an Authorized Distributor, based upon Distributor's ability to sell, install, or service the same; and
(c) make Distributor's rights under this Agreement subject to the Cross-Territorial Policy, NAP, CAP, FAP and HCAP, each of which Company reserves the right to amend as provided therein from time to time whenever Company in its reasonable discretion determines such amendment to be advisable.