Common use of Payment on Change of Control Clause in Contracts

Payment on Change of Control. In the event of a Change of Control, the Aggregate Payout shall be disbursed in cash to each Executive in such proportions as they may be allocated in accordance with Section 5.1 not later than the effective date of such Change of Control.

Appears in 2 contracts

Sources: Executive Employment Agreement (Source Interlink Companies Inc), Executive Employment Agreement (Source Interlink Companies Inc)