Change in Control Agreement管理權(quán)變更協(xié)議

-4-ChangeinControlAgreement管理權(quán)變更協(xié)議核心提示：THISAGREEMENTisenteredintoasof_________,_________,_________(M,D,Y),byandbetweenAAA,Inc.,a_________(Placename)corporation,andBBB(theExecutive).WHEREAS,theExecutivecurrentlyservesasakeyemployeeoftheCompany(asdefinedinTHISAGREEMENTisenteredintoasof_________,_________,_________(M,D,Y),byandbetweenAAA,Inc.,a_________(Placename)corporation,andBBB(the“Executive’).WHEREAS,theExecutivecurrentlyservesasakeyemployeeoftheCompany(asdefinedinSection1)andhisservicesandknowledgearevaluabletotheCompanyinconnectionwiththemanagementofoneormoreoftheCompanysprincipaloperatingfacilities,divisions,departmentsorsubsidiaries;andWHEREAS,theBoard(asdefinedinSection1)hasdeterminedthatitisinthebestinterestsoftheCompanyanditsstockholderstosecuretheExecutivescontinuedservicesandtoensuretheExecutivescontinueddedicationandobjectivityintheeventofanythreatoroccurrenceof,ornegotiationorotheractionthatcouldleadto,orcreatethepossibilityof,aChangeinControl(asdefinedinSection1)oftheCompany,withoutconcernastowhethertheExecutivemightbehinderedordistractedbypersonaluncertaintiesandriskscreatedbyanysuchpossibleChangeinControl,andtoencouragetheExecutivesfullattentionanddedicationtotheCompany,theBoardhasauthorizedtheCompanytoenterintothisAgreement.NOW,THEREFORE,forandinconsiderationofthepremisesandthemutualcovenantsandagreementshereincontained,theCompanyandtheExecutiveherebyagreeasfollows:1.Definitions.AsusedinthisAgreement,thefollowingtermsshallhavetherespectivemeaningssetforthbelow:(a)“Board’meanstheBoardofDirectorsoftheCompany.(b)“BonusReserveAccount’hasthemeaningstatedintheIncentiveCashBonusPlan.(c)“Cause’means(1)amaterialbreachbytheExecutiveofthosedutiesandresponsibilitiesoftheExecutivewhichdonotdifferinanymaterialrespectfromthedutiesandresponsibilitiesoftheExecutiveduringtheninety(90)dayperiodimmediatelypriortoaChangeinControl(otherthanasaresultofincapacityduetophysicalormentalillness)whichisdemonstrablywillfulanddeliberateontheExecutivespart,whichiscommittedinbadfaithorwithoutreasonablebeliefthatsuchbreachisinthebestinterestsoftheCompanyandwhichisnotremediedinareasonableperiodoftimeafterreceiptofwrittennoticefromtheCompanyspecifyingsuchbreachor(2)thecommissionbytheExecutiveofafelonyinvolvingmoralturpitude.(d)“ChangeinContro