Scope of and Consideration for This Agreement Sample Clauses
The "Scope of and Consideration for this Agreement" clause defines the boundaries of what the agreement covers and specifies the value or compensation exchanged between the parties. It typically outlines the specific services, goods, or obligations that are included under the agreement, and details what each party is providing or receiving in return, such as payment, services, or other forms of consideration. This clause ensures both parties have a clear understanding of their commitments and the benefits they are entitled to, thereby reducing the risk of misunderstandings or disputes regarding the extent of the agreement and the basis for their mutual obligations.
Scope of and Consideration for This Agreement. 1.1 Executive is currently employed by the Company.
1.2 The Company and Executive wish to set forth the compensation and benefits which Executive shall be entitled to receive in the event Executive's employment with the Company is terminated under the circumstances described herein following a Change in Control.
1.3 The duties and obligations of the Company to Executive under this Agreement shall be in consideration for Executive's past services to the Company, Executive's continued employment with the Company, and Executive's execution of a release in accordance with Section 3.1.
1.4 This Agreement shall supersede any other agreement relating to cash severance benefits and health benefits in the event of Executive's severance from employment with the Company following a Change in Control.
Scope of and Consideration for This Agreement. 1.1 Executive is currently employed by the Company.
1.2 The Company and Executive wish to set forth the compensation and benefits that Executive shall be entitled to receive in the event of a termination of Executive's employment with the Company in the circumstances described in this Agreement.
1.3 The duties and obligations of the Company to Executive under this Agreement shall be in consideration for Executive's past services to the Company, Executive's continued employment with the Company, and, with respect to the benefits described in Article 2, Executive's execution of a release in accordance with Section 3.1.
1.4 This Agreement shall supersede any other agreement relating to cash compensation benefits in the event of Executive's severance from employment with the Company.
Scope of and Consideration for This Agreement. 1.1 Upon termination of Executive’s employment for any reason, Executive shall be entitled to the Accrued Obligations. The Company and Executive wish to set forth in this Agreement the compensation and benefits that Executive shall be entitled to receive upon a Covered Termination or Change in Control Termination.
1.2 The duties and obligations of the Company to Executive under this Agreement in the event of a Covered Termination or Change in Control Termination shall be in consideration for Executive’s compliance with the limitations and conditions on benefits as described in Article 4, including the timely provision of an effective Release, return of Company property and continued compliance with certain obligations described in Article 4. Provision of the Accrued Obligations to Executive is not conditioned upon Executive’s compliance with the conditions on benefits described in Article 4.
1.3 This Agreement shall supersede any other policy, plan, program or arrangement, including, without limitation, any contract between Executive and the Company (or any subsidiary or affiliate of the Company), relating to severance benefits payable by the Company to Executive in connection with a termination of employment, including but not limited to that certain Employment Agreement between the Parties dated September 22, 2014 (the “Prior Agreement”). This Agreement does not supersede any provision in the Prior Agreement which is unrelated to severance benefits payable by the Company to Executive in connection with a termination of employment.
Scope of and Consideration for This Agreement. 1.1 The Company desires to employ Executive, or to continue Executive’s employment, in the position of Vice President, Finance, and Executive wishes to be employed, or continue to be employed, by the Company in such position.
1.2 The Company and Executive wish to set forth the compensation and benefits that Executive shall be entitled to receive upon a Change in Control Termination or a Covered Termination.
1.3 The duties and obligations of the Company to Executive under this Agreement shall be in consideration for Executive’s employment with the Company (and if Executive is a continuing employee, his or her past services to the Company), and, with respect to the benefits described in Article 2 and Article 3, Executive’s compliance with the limitations and conditions on benefits as described in Article 4, including the execution of an effective Release, return of Company property and continued compliance with the Restrictive Covenants.
1.4 This Agreement shall supersede any other policy, plan, program or arrangement, including, without limitation, any contract between Executive and any entity, relating to severance benefits payable by the Company to Executive in connection with a Change in Control Termination or Covered Termination.
Scope of and Consideration for This Agreement. 1.1 Executive is currently employed by the Company.
1.2 The Company and Executive wish to set forth the compensation and benefits that Executive shall be entitled to receive upon a Covered Termination and a Covered Termination Following a Change in Control.
1.3 The duties and obligations of the Company to Executive under this Agreement shall be in consideration for Executive’s past services to the Company, Executive’s continued employment with the Company, and, with respect to the payments and benefits described in Article 2, Executive’s compliance with the limitations and conditions on payments and benefits as described in Article 3, including the execution of an effective Release, return of Company property and continued compliance with the Restrictive Covenants.
1.4 This Agreement shall supersede any other policy, plan, program or arrangement, including, without limitation, any contract between Executive and any entity, relating to severance benefits payable by the Company to Executive in connection with a Covered Termination or a Covered Termination Following a Change in Control, including without limitation, the 2006 Executive Change in Control Severance Benefits Agreement.
Scope of and Consideration for This Agreement. 1.1 The Company desires to continue to employ Executive in the position of SVP, Global Human Resources, and Executive wishes to continue to be employed by the Company in such position.
1.2 The Company and Executive wish to clarify the compensation and benefits the Executive shall be eligible to receive upon a Covered Termination as well as the manner of compliance with, or exemption from, Code Section 409A and recent proposed health care regulations.
1.3 The duties and obligations of the Company to Executive under this Agreement shall be in consideration for Executive’s past services to the Company, Executive’s continued employment with the Company, and, with respect to the benefits described in Article 2, Executive’s execution of an effective Release in accordance with Section 3.1.
1.4 This Agreement supersedes and replaces all prior agreements, plans, policies and understandings on the subjects contained herein, including, but not limited to all prior executive change in control severance benefits agreements (together, the “Prior Agreements”).
Scope of and Consideration for This Agreement. 1.1 Executive is currently employed by the Company.
1.2 The Company and Executive wish to set forth the compensation and benefits that Executive shall be entitled to receive upon a Covered Termination.
1.3 The duties and obligations of the Company to Executive under this Agreement shall be in consideration for Executive’s past services to the Company, Executive’s continued employment with the Company, and, with respect to the payments and benefits described in Article 2, Executive’s compliance with the limitations and conditions on payments and benefits as described in Article 3, including the execution of an effective Release, return of Company property and continued compliance with the Restrictive Covenants.
1.4 This Agreement shall supersede any other policy, plan, program or arrangement, including, without limitation, any contract between Executive and any entity, relating to severance benefits payable by the Company to Executive in connection with a Covered Termination.
Scope of and Consideration for This Agreement. 1.1 Executive is currently employed by the Company.
1.2 The Company and Executive wish to set forth the compensation and benefits that Executive shall be entitled to receive upon a Change in Control Termination or a Covered Termination.
1.3 The duties and obligations of the Company to Executive under this Agreement shall be in consideration for Executive’s past services to the Company, Executive’s continued employment with the Company, and, with respect to the benefits described in Article 2 and Article 3, Executive’s compliance with the limitations and conditions on benefits as described in Article 4, including the execution of an effective Release, return of Company property and continued compliance with the Restrictive Covenants.
1.4 This Agreement shall supersede any other policy, plan, program or arrangement, including, without limitation, any contract between Executive and any entity, relating to severance benefits payable by the Company to Executive in connection with a Change in Control Termination or Covered Termination.
Scope of and Consideration for This Agreement. 1.1 Upon termination of Executive’s employment for any reason, Executive shall be entitled to the Accrued Obligations. The Company and Executive wish to set forth in this Agreement the compensation and benefits that Executive shall be entitled to receive upon a Covered Termination or Change in Control Termination.
1.2 The duties and obligations of the Company to Executive under this Agreement in the event of a Covered Termination or Change in Control Termination shall be in consideration for Executive’s compliance with the limitations and conditions on benefits as described in Article 4, including the timely provision of an effective Release in substantially the form of Exhibit A attached hereto (the “Release”), return of Company property and continued compliance with certain obligations described in Article 4. Provision of the Accrued Obligations to Executive is not conditioned upon Executive’s compliance with the conditions on benefits described in Article 4.
1.3 This Agreement shall supersede any other policy, plan, program or arrangement, including, without limitation, any contract between Executive and the Company (or any subsidiary or affiliate of the Company), relating to severance benefits payable by the Company to Executive in connection with a termination of employment.
Scope of and Consideration for This Agreement. 1.1 Executive is currently employed by the Company.
1.2 The Company and Executive wish to set forth the compensation and benefits that Executive shall be entitled to receive upon a Covered Termination.
1.3 The duties and obligations of the Company to Executive under this Agreement shall be in consideration for Executive’s past services to the Company, Executive’s continued employment with the Company, and, with respect to the benefits described in Article 2 [EVP/SVP: and any Gross-Up Payment described in Section 3.2], Executive’s execution of an effective Release in accordance with Section 3.1.
1.4 This Agreement shall supersede any other policy, plan, program or arrangement, including, without limitation, any contract between Executive and any entity, relating to severance benefits payable by the Company to Executive, including but not limited to the Executive Change in Control Severance Benefits Agreement between Executive and the Company dated , 200___ (the “Predecessor Agreement”); provided, however, that any and all stock awards consisting of stock options or restricted stock (including stock bonus awards) that qualify as Prior Stock Awards under the terms of the Predecessor Agreement, shall also be defined as “Prior Stock Awards” for purposes of this Agreement and shall remain subject to the following terms:
(a) Effective as of the date of the “Change in Control” (as defined in Section 1.4(b)), the vesting and exercisability of fifty percent (50%) of the options to purchase the Company’s common stock (or other restricted stock awards granted by the Company) that are held by Executive on such date shall be accelerated in full, and such options shall be exercisable by Executive for twelve (12) months following any subsequent termination of Executive’s employment but in no case beyond the relevant expiration dates of such options. Such acceleration shall occur on a pro rata basis with respect to all outstanding stock awards, such that the accelerated vesting percentage of shares that would otherwise vest at future vesting dates shall become immediately vested. Effective as of the date of a “Covered Termination” (as defined in Section 1.4(c)) the vesting and exercisability of all options to purchase the Company’s common stock (or other restricted stock awards granted by the Company) that are held by Executive on such date shall be accelerated in full, and such options shall be exercisable by Executive for twelve (12) months following such date but in no ...