Effective Date Definition Example

Effective Date. Shall mean the first date during the Change of Control Period (as defined in paragraph (b), below) on which a Change of Control (as defined in Section 2) occurs. Anything in this Agreement to the contrary notwithstanding, if a Change of Control occurs and if the Executive's employment with the Company is terminated or the Executive ceases to be an officer of the Company prior to the date on which the Change of Control occurs, and if it is reasonably demonstrated by the Executive that such... termination of employment or cessation of status as an officer (i) was at the request of a third party who has taken steps reasonably calculated to effect the Change of Control, or (ii) otherwise arose in connection with or anticipation of the Change of Control and was not (A) for conduct by the Executive of the type described in Section 4(b), below, (B) for significant deficiencies in the Executive's performance of his duties to the Company (including, but not by way of limitation, significant failure to cooperate in implementing a decision of the Board), or (C) for some other specific substantial business reason unrelated to the Change of Control, then for all purposes of this Agreement the "Effective Date" shall mean the date immediately prior to the date of such termination of employment or cessation of status as an officer. View More