Termination During a Post-Disaggregation Period Clause Samples
The 'Termination During a Post-Disaggregation Period' clause defines the rights and procedures for ending an agreement after a disaggregation event has occurred. In practice, this clause outlines the specific conditions under which either party may terminate the contract during a period following the separation or division of previously combined assets, services, or business units. For example, if a company splits its operations and the contract covers both parts, this clause would clarify how and when the agreement can be ended for each part. Its core function is to provide a clear framework for contract termination in the aftermath of organizational changes, thereby reducing uncertainty and potential disputes between the parties.
Termination During a Post-Disaggregation Period. If, during a Post-Disaggregation Period the Disaggregated Entity terminates Executive’s employment other than for Cause or Disability, or if Executive terminates employment for Good Reason, the Company’s sole obligations to Executive under Articles II and IV shall be as set forth in this Section 4.3, subject to Section 3.3(c), but only to the extent not provided by the Disaggregated Entity.
Termination During a Post-Disaggregation Period. Cash Severance Payments. The Company shall pay Executive the amounts described in Section 4.1(a), as provided in Section 4.4.
Termination During a Post-Disaggregation Period. Outplacement. To the extent actually incurred by Executive, the Company shall pay or cause to be paid on behalf of Executive, as incurred, all reasonable fees and costs charged by a nationally recognized outplacement firm selected by the Executive for outplacement services provided up to 12 months after the Termination Date. No cash shall be paid in lieu of such fees and costs.
Termination During a Post-Disaggregation Period. Restricted Stock. Executive’s unvested Restricted Stock, whether or not converted to restricted stock of the Disaggregated Entity or Merger Survivor, shall become fully vested on the Termination Date.
Termination During a Post-Disaggregation Period. Indemnification. The Executive shall be indemnified and held harmless by the Company to the same extent as provided in Section 4.1(g).
Termination During a Post-Disaggregation Period. Performance Shares. Executive’s Performance Shares granted prior to the Disaggregation, whether or not earned by and awarded to the Executive as of the Disaggregation, and whether or not converted to performance shares of the Disaggregated Entity or the Merger Survivor, shall become fully vested (at the earned level for Performance Shares earned and awarded, and at the target level for any converted performance shares not yet earned and awarded) on the Termination Date.
Termination During a Post-Disaggregation Period. Directors' and Officers' Liability Insurance. The Company shall provide Executive with directors' and officers' liability insurance to the same extent as provided in Section 4.1(h).
Termination During a Post-Disaggregation Period. Stock Options. All of Executive's Stock Options granted prior to the Disaggregation that have not expired, whether or not converted to options or stock of the Disaggregated Entity or Merger Survivor, shall be fully vested, and may be exercised in whole or in part by the Executive at any time until (1) the remaining option expiration date for such Stock Options granted prior to January 1, 2002 and (2) the earlier of the fifth anniversary of the Termination Date or the option expiration date for such Stock Options granted on or after January 1, 2002.
Termination During a Post-Disaggregation Period. Continuation of Welfare Benefits. Until the end of the Severance Period, the Company shall continue to provide to Executive and Executive's family welfare benefits with the same rights in relation to continuation coverage, status in relation to other employer benefits, scope and cost as described in Section 4.1(e); provided that, to the extent Executive is eligible for post-termination continuation coverage under the plans of the Disaggregated Entity, whether pursuant to Section 4980B of the Code or otherwise, the continued coverage required hereunder shall be provided under the plans of the Disaggregated Entity (and the Company shall reimburse the cost to Executive of such coverage).