Change in Control Agreement管理权变更协议-3

-4-ChangeinControlAgreement管理权变更协议核心提示：ThisAgreement,dated_________,_________(YEAR),ismadebyandbetweenAAALtd.,a_________Corporation(ashereinafterdefined,theCorporation),and_________(theExecutive).WHEREAS,theBoard(ashereinafterdefined)recognizesthatthepossThisAgreement,dated_________,_________(YEAR),ismadebyandbetweenAAALtd.,a_________Corporation(ashereinafterdefined,theCorporation),and_________(theExecutive).WHEREAS,theBoard(ashereinafterdefined)recognizesthatthepossibilityofaChangeinControl(ashereinafterdefined)oftheCorporationexistsandthatsuchpossibility,andtheuncertaintyitmaycause,mayresultinthedepartureordistractionofkeymanagementemployeesoftheCorporation;andWHEREAS,theExecutiveisakeymanagementemployeeoftheCorporationorofaSubsidiary;andWHEREAS,theBoardhasdeterminedthattheCorporationshouldencouragethecontinuedemploymentoftheExecutivebytheCorporationoraSubsidiaryandthecontinueddedicationoftheExecutivetohisassigneddutieswithoutdistractionasaresultofthecircumstancesarisingfromthepossibilityofaChangeinControl;NOWTHEREFORE,inconsiderationofthepremisesandthemutualcovenantshereincontained,theCorporationandtheExecutiveherebyagreeasfollows:1.DefinedTerms.ForpurposesofthisAgreement,thefollowingtermsshallhavethemeaningsindicatedbelow:(A)BoardshallmeantheBoardofDirectorsoftheCorporation,asconstitutedfromtimetotime.(B)CauseforterminationbytheCorporationoftheExecutive’semploymentshallmean(i)thewillfulfailurebytheExecutivesubstantiallytoperformtheExecutive’sdutieswiththeCorporationoraSubsidiary,otherthananyfailureresultingfromtheExecutive’sincapacityduetophysicalormentalillnessoranyactualoranticipatedfailureaftertheissuanceofaNoticeofTerminationforGoodReasonbytheExecutiveinaccordancewithparagraph(A)ofSection6,thatcontinuesforatleast30daysaftertheBoarddeliverstotheExecutiveawrittendemandforperformancethatidentifiesspecificallyandindetailthemannerinwhichtheBoardbelievesthattheExecutivewillfullyhasfailedsubstantiallytoperformtheExecutive’sduties,(ii)thewillfulengagingbytheExecutiveinmisconductthatisdemonstrablyandmateriallyinjurioustotheCorporationoranySubsidiary,monetarilyorotherwiseor(iii)anactoractsonExecutive’spartconstituting(x)afelonyunderthelawsoftheUnitedStatesoranystatethereofor(y)amisdemeanorinvolvingmoralturpitude.(C)AChangeinControlshallmean,ifsubsequenttothedateofthisAgreement:(i)anyPerson(otherthanaPersonholdingsecuritiesrepresenting10%ormoreofthecombinedvotingpoweroftheCorporation’soutstandingsecuritiesasof_________,_________,_________(M,D,Y),theCorporation,anytrusteeorotherfiduciaryholdingsecuritiesunderanyoftheCorporation’semployeebenefitplans,oranycompanyowned,directlyorindirectly,bytheCorporation’sshareholdersinsubstantiallythesameproportionsastheirownershipofthestockoftheCorporation)becomestheBeneficialOwne