Company's Clients. The "Company's Clients" shall be deemed to be any partnerships, corporations, professional associations or other business organizations with whom the Company has conducted business.
Company's Covenants Summarized. In order to induce Executive to remain in the employ of the Company and its consideration of Executive's covenants set forth in Article 6 hereof, the Company agrees, subject to the terms and conditions hereof, to pay Executive the "Severance Payments" described in Article 3 hereof and the other payments and benefits described herein in the event Executive's employment with the Company is terminated under certain circumstances. No amount or benefit shall be payable under this Agreement unless there shall have been a termination of Executive's employment with the Company, as described in Articles 3, 4 or 5 hereof. This Agreement shall not be construed as creating an express or implied contract of employment, and, except as otherwise agreed in writing between Executive and the Company, Executive shall not have any right to be retained in the employ of the Company and the Company may terminate Executive's employment at any time and Executive may terminate his employment at any time.
The Company's Successor. The Company will require any successor to all or substantially all of the business and assets of the Company (whether direct or indirect, by purchase, merger, consolidation or otherwise) to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place; except that no such assumption and agreement will be required if the successor is bound by operation of law to perform this Agreement. In this Agreement, the "Company" shall include any successor to the Company's business and assets that assumes and agrees to perform this Agreement (either by agreement or by operation of law).
Company's Severance Payments. Contingent upon Executive executing this Agreement on or prior to the Deadline Date (defined below) and not revoking this Agreement during the Revocation Period (defined below), the Company agrees to provide the following consideration to Executive in connection with his resignation: # a severance payment of One Hundred Ten Thousand Dollars ($110,000) plus a one time payment for health and dental insurance for 18 months in the amount of $19,000.00. to be payable within ten (10) business days following the Effective Date (as defined below); # all options previously issued to Executive shall become fully vested immediately following Executive’s resignation on December 31, 2015 and he has the right to exercise these options for the full term of the option grants, provided, that any options that were not vested as of the date of termination shall not be exercisable until the Effective Date, and provided further, that should the Executive fail to execute this Agreement on or prior to the Deadline Date or should Executive revoke this Agreement during the Revocation Period, any unvested options as of the date of termination shall immediately expire and any vested options as of the date of termination shall be treated in accordance with the existing stock option documentation; # all shares of restricted stock previously issued to Executive shall become fully vested immediately following Executive’s resignation on December 31, 2015, provided, that any shares of restricted stock that were not vested as of the date of termination shall not be sold, assigned, or otherwise transferred in any manner (and may remain in the custody of the Company) until the Effective Date, and provided further, that should the Executive fail to execute this Agreement on or prior to the Deadline Date or should Executive revoke this Agreement during the Revocation Period, all payments due under this paragraph and any unvested shares of restricted stock as of the date of termination shall immediately be forfeited back to the Company; ; and # payments to which Executive is due under all other Company benefit programs, including but not limited, to his [[Unknown Identifier]] and ESOP benefits.
This Note shall be binding upon the Company's successors and assigns, and shall inure to the benefit of the Lender's successors and assigns.
Successors. The Award Terms shall be binding upon and inure to the benefit of the Company and its successors and assigns, on the one hand, and the Participant and his or her heirs, beneficiaries, legatees and personal representatives, on the other hand.
Successors. All obligations of the Company with respect to Awards granted under this Plan are binding on any successor to the Company, whether as a result of a direct or indirect purchase, merger, consolidation or otherwise of all or substantially all of the business and/or assets of the Company.
Successors. This Agreement shall bind and inure to the benefit of the respective successors and assigns of each of the parties; provided, however, that Borrower may not assign this Agreement or any rights or duties hereunder without the ’ prior written consent and any prohibited assignment shall be absolutely void ab initio. A Lender may assign this Agreement and the other Loan Documents and its rights and duties hereunder and thereunder pursuant to Section 9.1 hereof and, except as expressly required pursuant to Section 9.1 hereof, no consent or approval by Borrower is required in connection with any such assignment.
Successors. The rights and obligations of the Company under this Plan shall inure to the benefit of, and shall be binding upon, the successors and assigns of the Company.
Successors. This Award Agreement, including but not limited to the non-competition obligations described in [Section 16] below, shall be binding upon and inure to the benefit of any successor or successors of the Corporation.
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