Executive Severance Agreement高級(jí)管理人員離職協(xié)議

-31-ExecutiveSeveranceAgreement高級(jí)管理人員離職協(xié)議核心提示：ThisAGREEMENT(Agreement)dated_________(M,D,Y)byandbetweenAAA,Inc.(AAA),a_________corporation(AAAanditssubsidiariesbeingreferredtohereincollectivelyastheCompany),and_________(theExecutive).WITNESSETHWHEREAS,theCompanyThisAGREEMENT(Agreement)dated_________(M,D,Y)byandbetweenAAA,Inc.(AAA),a_________corporation(AAAanditssubsidiariesbeingreferredtohereincollectivelyastheCompany),and_________(theExecutive).WITNESSETHWHEREAS,theCompanyrecognizesthevaluableservicesthattheExecutivehasrenderedtheretoanddesirestobeassuredthattheExecutivewillcontinuetoattendtothebusinessandaffairsoftheCompanywithoutregardtoanypotentialoractualchangeofcontrolofAAA;WHEREAS,theExecutiveiswillingtocontinuetoservetheCompanybutdesiresassurancethathewillnotbemateriallydisadvantagedbyachangeofcontrolofAAA;andWHEREAS,theCompanyiswillingtoaccordsuchassuranceprovidedthat,shouldtheExecutive’semploymentbeterminatedconsequenttoachangeofcontrol,hewillnotforaperiodthereafterengageincertainactivitiesthatcouldbedetrimentaltotheCompany;NOW,THEREFORE,inconsiderationoftheExecutive’scontinuedservicetotheCompanyandthemutualagreementshereincontained,AAAandtheExecutiveherebyagreeasfollows:ARTICLEIRIGHTTOPAYMENTSSection1.1.TRIGGERINGEVENTS.IfAAAundergoesaChangeofControl,theCompanyshallmakepaymentstotheExecutiveasprovidedinarticleIIofthisAgreement.If,withintwoyearsfollowingaChangeofControl,either(a)theCompanyterminatestheExecutiveotherthanbymeansofaterminationforCauseorfordeathor(b)theExecutiveresignsforaGoodReason(eitherofwhicheventsshallconstituteaQualifyingTermination),theCompanyshallmakepaymentstotheExecutiveasprovidedinarticleIIIhereof.Section1.2.CHANGEOFCONTROL.AChangeofControlofAAAshallbedeemedtohaveoccurredif(a)anyperson(withinthemeaningofSections13(d)and14(d)oftheSecuritiesExchangeActof1934(theAct)),otherthanAAAoranyofitsmajoritycontrolledsubsidiaries,becomesthebeneficialowner(withinthemeaningofRule13d3undertheAct)of30percentormoreofthecombinedvotingpowerofAAA’sthenoutstandingvotingsecurities;(b)atenderofferorexchangeoffer(otherthananofferbyAAAoramajoritycontrolledsubsidiary),pursuanttowhich30percentormoreofthecombinedvotingpowerofAAA’sthenoutstandingvotingsecuritieswaspurchased,expires;(c)thestockholdersofAAAapproveanagreementtomergeorconsolidatewithanothercorporation(otherthanamajoritycontrolledsubsidiaryofAAA)unlessAAA’sshareholdersimmediatelybeforethemergerorconsolidationaretoownmorethan70percentofthecombinedvotingpoweroftheresultingentity’svotingsecurities;(d)AAA’sstockholdersapproveanagreement(including,withoutlimitation,aplanofliquidation)tosellorotherwisedisposeofallorsubstantiallyallofthebusinessorassetsofAAA;or(e)duringanyperiodoftwoconsecutiveyears,individualswho,atthebeginningofsuchperiod,constitutedtheBoardofDirectorsofAAAceaseforanyreasontoconstituteatleastamajoritythereof,unlesstheelectionorthenominationforelectionbyAAA’sstockholdersofeachnewdirectorwasapprovedbyavoteofatleasttwothirdsofthedirectorsthenstillinofficewhoweredirectorsatthebeginningoftheperiod.However,noChangeofControlshallbedeemedtohaveoccurredbyreasonofanytransactioninwhichtheExecutive,oragroupofpersonsorentitieswithwhichtheExecutiveactsinconcert,acquires,directlyorindirectly,morethanpercentofthecommonstockorthebusinessorassetsofAAA.Section1.3.TERMINATIONFORCAUSE.AAAshallhaveCausetoterminatetheExecutiveforpurposesofSection1.1ofthisAgreementonlyif,followingtheChangeofControl,theExecutive(a)engagesinconductthatconstitutesafelonyunderthelawsoftheUnitedStatesorastateorcountryinwhichheworksorresidesandthatresultsorwasintendedtoresult,directlyorindirectly,inthepersonalenrichmentoftheExecutiveattheCompany’sexpense;(b)refuses(exceptbyreasonofincapacityduetoillnessorinjury)tomakeagoodfaithefforttosubstantiallyperformhisdutieswiththeCompanyonafulltimebasisandcontinuessuchrefusalfor15daysfollowingreceiptofnoticefromtheCompanythathiseffortisdeficient;or(c)deliberatelyandmateriallybreachesanyagreementbetweenhimselfandtheCompanyandfailstoremedythatbreachwithin30daysfollowingnotificationthereofbytheCompany.IftheCompanyhasCausetoterminatetheExecutive,itmayinfactterminatehimforCauseforpurposesofsection1.1hereofif(a)itnotifiestheExecutiveofsuchCause,(b)itgiveshimreasonableopportunitytoappearbeforeamajorityofAAA’sBoardofDirectorstorespondtothenoticeofCauseand(c)amajorityoftheBoardofDirectorssubsequentlyvotestoterminatehim.Section1.4.RESIGNATIONFORGOODREASON.TheExecutiveshallhaveaGoodReasonforresigningonlyif(a)theCompanyfailstoelecttheExecutiveto,orremoveshimfrom,anyofficeoftheCompany,includingwithoutlimitationmembershiponanyBoardofDirectors,thattheExecutiveheldimmediatelypriortotheChangeofControl;(b)theCompanyreducestheExecutive’srateofregularcashandfullyvesteddeferredbasecompensation(RegularCompensation)fromthatwhichheearnedimmediatelypriortotheChangeofControlorfailstoincreaseitwithin12monthsfollowingtheChangeofControlby(inadditiontoanyincreasepursuanttosection2.2hereof)atleasttheaverageoftheratesofincreaseinhisRegularCompensationduringthefourconsecutive12monthperiodsimmediatelypriortotheChangeofControl(or,iffewer,thenumberof12monthperiodsimmediatelypriortotheChangeofControlduringwhichtheExecutivewascontinuouslyemployedbytheCompany);(c)theCompanyfailstoprovidetheExecutivewithfringebenefitsand/orbonusplans,suchasstockoption,stockpurchase,restrictedstock,lifeinsurance,health,accident,disability,incentive,bonus,pensionandprofitsharingplans(BenefitorBonusPlans),that,intheaggregate,(exceptinsofarastheExecutivehaswaivedhisrightsthereunderpursuanttoarticleIIhereof)areasvaluabletohimasthosethatheenjoyedimmediatelypriortotheChangeofControl;(d)theCompanyfailstoprovidetheExecutivewithanannualnumberofpaidvacationdaysatleastequaltothattowhichhewasentitledimmediatelypriortotheChangeofControl;(e)theCompanybreachesanyagreementbetweenitandtheExecutive(includingthisAgreement);(f)withoutlimitationoftheforegoingclause(e),theCompanyfailstoobtaintheexpressassumptionofthisAgreementbyanysuccessoroftheCompanyasprovidedinsection6.3hereof;(g)theCompanyattemptstoterminatetheExecutiveforCausewithoutcomplyingwiththeprovisionsofsection1.3hereof;(h)theCompanyrequirestheExecutive,withouthisexpresswrittenconsent,tobebasedinanofficeoutsideoftheofficeinwhichExecutiveisbasedonthedatehereofortotravelsubstantiallymoreextensivelythanhedidpriortotheChangeofControl;or(i)theExecutivedeterminesingoodfaiththattheCompanyhas,withouthisconsent,effectedasignificantchangeinhisstatuswithin,orthenatureorscopeofhisdutiesorresponsibilitieswith,theCompanythatobtainedimmediatelypriortotheChangeofControl(includingbutnotlimitedto,subjectingtheExecutive’sactivitiesandexerciseofauthoritytogreaterimmediatesupervisionthanexistedpriortotheChangeofControl);PROVIDED,HOWEVER,thatnoeventdesignatedinclauses(a)through(i)ofthissentenceshallconstituteaGoodReasonunlesstheExecutivenotifiesAAAthattheCompanyhascommittedanactionorinactionspecifiedinclauses(a)through(i)(aCoveredAction)andtheCompanydoesnotcuresuchCoveredActionwithin30daysaftersuchnotice,atwhichtimesuchGoodReasonshallbedeemedtohavearisen.Notwithstandingtheimmediatelyprecedingsentence,noactionbytheCompanyshallgiverisetoaGoodReasonifitresultsfromtheExecutive’sterminationforCauseordeathorfromtheExecutive’sresignationforotherthanaGoodReason,andnoactionbytheCompanyspecifiedinclauses(a)through(i)oftheprecedingsentenceshallgiverisetoaGoodReasonifitresultsfromtheExecutive’sDisability.IftheExecutivehasaGoodReasontoresign,hemayinfactresignforaGoodReasonforpurposesofsection1.1ofthisAgreementby,within30daysaftertheGoodReasonarises,givingAAAaminimumof30andamaximumof90daysadvancenoticeofthedateofhisresignation.Section1.5.DISABILITY.ForallpurposesofthisAgreement,thetermDisabilityshallhavethesamemeaningasthattermhasintheAAALongTermDisabilityPlan.ARTICLEIIPAYMENTSUPONACHANGEOFCONTROLSection2.1.ELECTIONSBYTHEEXECUTIVE.IftheExecutivesoelectspriortoaChangeofControl,theCompanyshallpayhim,within30daysfollowingtheChangeofControl,cashamountsinrespectofcertainBenefitorBonusPlansordeferredcompensationarrangementsdesignatedinsections2.through2.4hereof(PlanAmounts).TheExecutivemaymakeanelectionwithrespecttotheBenefitorBonusPlansordeferredcompensationarrangementscoveredunderanyoneormoreofsections2.2through2.4,butanelectionwithrespecttoanysuchsectionshallapplytoallPlanAmountsthatarespecifiedtherein.EachelectionshallbemadebynoticetoAAAonaformsatisfactorytoAAAand,oncemade,mayberevokedbysuchnoticeonsuchformatanytimepriortoaChangeofControl.IftheExecutiveelectstoreceivepaymentsunderasectionofthisarticleII,heshall,uponreceiptofsuchpayments,executeawaiver,onaformsatisfactorytoAAA,ofsuchrightsasareindicatedinthatsection.IftheExecutivedoesnotmakeanelectionunderthisarticlewithrespecttoaBenefitorBonusPlanordeferredcompensationarrangement,hisrightstoreceivepaymentsinrespectthereofshallbegovernedbythePlanorarrangementitself.Section2.2.ESBA.ThePlanAmountinrespectofallExecutiveSpecialBenefitAgreements(ESBA’s)betweentheExecutiveandAAAshallconsistofanamountequaltothepresentdiscountedvalues,usingtheDiscountRatedesignatedinsection5.8hereofasofthedateoftheChangeofControl,ofallpaymentsthattheExecutivewouldhavebeenentitledtoreceiveundertheESBA’sifhehadterminatedemploymentwiththeCompanyonthedayimmediatelypriortotheChangeofControl.UponreceiptofthePlanAmountinrespectoftheESBA’s,theExecutiveshallwaiveanyrightsthathemayhavetopaymentsundertheESBA’s.IftheExecutivemakesanelectionpursuantto,andexecutesthewaiverrequiredunder,thissection2.2,hisRegularCompensationshallbeincreasedasofthedateoftheChangeofControlatanannualrateequaltothesumoftheannualratesofdeferredcompensationinlieuofwhichbenefitsareprovidedtheExecutiveunderanyESBAtheAccrualTermforwhich(asdefinedintheESBA)includesthedateoftheChangeofControl.Section2.3.MICP.ThePlanAmountinrespectoftheCompany’sManagementIncentiveCompensationPlans(MICP)and/orthe1997PerformanceIncentivePlan(1997PIP)shallconsistofanamountequaltothesumofallamountsawardedtotheExecutiveunder,butdeferredpursuantto,theMICPand/orthe1997PIPasofthedateoftheChangeofControlandallamountsequivalenttointerestcreditablethereonuptothedatethatthePlanAmountispaid.UponreceiptofthatPlanAmount,theExecutiveshallwaivehisrightstoreceiveanyamountsundertheMICPand/orthe1997PIPthatweredeferredpriortotheChangeofControlandanyinterestequivalentsthereon.Section2.4.DEFERREDCOMPENSATION.ThePlanAmountinrespectofdeferredcompensation(otherthanamountsreferredtoinothersectionsofthisarticleII)shallbeanamountequaltoallcompensationfromtheCompanythattheExecutivehasearnedandagreedtodefer(otherthanthroughtheAAASavingsPlanpursuanttoSection401(k)oftheInternalRevenueCode(theCode))buthasnotreceivedasofthedateoftheChangeofControl,togetherwithallamountsequivalenttointerestcreditablethereonthroughthedatethatthePlanAmountispaid.UponreceiptofthisPlanAmount,theExecutiveshallwaivehisrightstoreceiveanydeferredcompensationthatheearnedpriortothedateoftheChangeofControlandanyinterestequivalentsthereon.Section2.5.STOCKINCENTIVEPLANS.TheeffectofaChangeofControlontherightsoftheExecutivewithrespecttooptionsandrestrictedsharesawardedtohimundertheAAA1986StockIncentivePlan,the1996StockIncentivePlanandthe1997PerformanceIncentivePlan,shallbegovernedbythosePlansandnotbythisAgreement.ARTICLEIIIPAYMENTSUPONQUALIFYINGTERMINATIONSection3.1.BASICSEVERANCEPAYMENT.IntheeventthattheExecutiveissubjectedtoaQualifyingTerminationwithintwoyearsafteraChangeofControl,theCompanyshallpaytheExecutivewithin30daysaftertheeffectivedateofhisQualifyingTermination(hisTerminationDate)acashamountequaltohisBaseAmounttimesthenumberdesignatedinSection5.9ofthisAgreement(theDesignatedNumber).TheExecutive’sBaseAmountshallequaltheaverageoftheExecutive’sIncludableCompensationforthetwowholecalendaryearsimmediatelyprecedingthedateoftheChangeofControl(or,iftheExecutivewasemployedbytheCompanyforonlyoneofthoseyears,hisIncludableCompensationforthatyear).TheExecutive’sIncludableCompensationforacalendaryearshallconsistof(a)thecompensationreportedbytheCompanyontheFormW-2thatitfiledwiththeInternalRevenueServiceforthatyearinrespectoftheExecutiveorwhichwouldhavebeenreportedonsuchformbutforthefactthatExecutive’sserviceswereperformedoutsideoftheUnitedStates,plus(b)anycompensationpayabletotheExecutiveduringthatyearthereceiptofwhichwasdeferredattheExecutive’selectionorbyemploymentagreementtoasubsequentyear,minus(c)anyamountsincludedontheFormW2(orwhichwouldhavebeenincludedifExecutivehadbeenemployedintheUnitedStates)thatrepresentedeither(i)amountsinrespectofastockoptionorrestrictedstockplanoftheCompanyor(ii)paymentsduringtheyearofamountspayableinprioryearsbutdeferredattheExecutive’selectionorbyemploymentagreementtoasubsequentyear.Thecompensationreferredtoinclause(b)oftheimmediatelyprecedingsentenceshallinclude,withoutlimitation,amountsinitiallypayabletotheExecutiveundertheMICPoraLongTermPerformanceIncentivePlanorthe1997PIPinthatyearbutdeferredtoasubsequentyear,theamountofdeferredcompensationfortheyearinlieuofwhichbenefitsareprovidedtheExecutiveunderanESBAandamountsofRegularCompensationearnedbytheExecutiveduringtheyearbutdeferredtoasubsequentyear(includingamountsdeferredunderAAASavingsPlanpursuanttoSection401(k)oftheCode);clause(c)ofsuchsentenceshallinclude,withoutlimitation,allamountsequivalenttointerestpaidinrespectofdeferredamountsandallamountsofRegularCompensationpaidduringtheyearbutearnedinaprioryearanddeferred.Section3.2.MICPSUPPLEMENT.TheCompanyshallalsopaytheExecutivewithin30daysafterhisTerminationDateacashamountequalto(a)intheeventthattheExecutivereceivedanawardundertheMICP(ortheIncentiveAwardprogramapplicableoutsidetheUnitedStates)orthe1997PIP(IncentiveAward)inrespectoftheyearimmediatelypriortotheyearthatincludestheTerminationDate(thelatteryearconstitutingtheTerminationYear),theamountofthatawardmultipliedbythefractionoftheTerminationYearprecedingtheTerminationDateor(b)intheeventthattheExecutivedidnotreceiveanMICPaward(oranIncentiveAward)inrespectoftheyearimmediatelypriortotheTerminationYear,theamountoftheMICPaward(orIncentiveAward)thatExecutivereceivedinrespectofthesecondyearimmediatelypriortotheTerminationYearmultipliedbyoneplusthefractionoftheTerminationYearprecedingtheTerminationDate.ARTICLEIVTAXMATTERSSection4.1.Withholding.TheCompanymaywithholdfromanyamountspayabletotheExecutivehereunderallfederal,state,cityorothertaxesthattheCompanymayreasonablydeterminearerequiredtobewithheldpursuanttoanyapplicablelaworregulation,but,iftheExecutivehasmadetheelectionprovidedinsection4.2hereof,theCompanyshallnotwithholdamountsinrespectoftheexcisetaximposedbySection4999oftheCodeoritssuccessor.Section4.2.Disclaimer.IftheExecutivesoagreespriortoaChangeofControlbynoticetotheCompanyinformsatisfactorytotheCompany,theamountspayabletotheExecutiveunderthisAgreementbutnotyetpaidtheretoshallbereducedtothelargestamountsintheaggregatethattheExecutivecouldreceive,inconjunctionwithanyotherpaymentsreceivedortobereceivedbyhimfromanysource,withoutanypartofsuchamountsbeingsubjecttotheexcisetaximposedbySection4999oftheCodeoritssuccessor.TheamountofsuchreductionsandtheirallocationamongamountsotherwisepayabletotheExecutiveshallbedeterminedeitherbytheCompanyorbytheExecutiveinconsultationwithcounselchosen(andcompensated)byhim,whicheverisdesignatedbytheExecutiveintheaforesaidnoticetotheCompany(theDeterminingParty).If,subsequenttothepaymenttotheExecutiveofamountsreducedpursuanttothissection4.2,theDeterminingPartyshouldreasonablydetermine,ortheInternalRevenueServiceshouldassertagainstthepartyotherthantheDeterminingParty,thattheamountofsuchreductionswasinsufficienttoavoidtheexcisetaxunderSection4999(orthedenialofadeductionunderSection280GoftheCodeoritssuccessor),theamountbywhichsuchreductionswereinsufficientshall,uponnoticetotheotherparty,bedeemedaloanfromtheCompanytotheExecutivethattheExecutiveshallrepaytotheCompanywithinoneyearofsuchreasonabledeterminationorassertion,togetherwithinterestthereonattheapplicablefederalrateprovidedinsection7872oftheCodeoritssuccessor.However,suchamountshallnotbedeemedaloanifandtotheextentthatrepaymentthereofwouldnoteliminatetheExecutive’sliabilityforanySection4999excisetax.ARTICLEVCOLLATERALMATTERSSection5.l.NatureofPayments.AllpaymentstotheExecutiveunderthisAgreementshallbeconsideredeitherpaymentsinconsiderationofhiscontinuedservicetotheCompany,severancepaymentsinconsiderationofhispastservicestheretoorpaymentsinconsiderationofthecovenantcontainedinsection5.l0hereof.NopaymenthereundershallberegardedasapenaltytotheCompany.Section5.2.LegalExpenses.TheCompanyshallpayalllegalfeesandexpensesthattheExecutivemayincurasaresultoftheCompany’scontestingthevalidity,theenforceabilityortheExecutive’sinterpretationof,ordeterminationsunder,thisAgreement.Withoutlimitationoftheforegoing,AAAshall,priortotheearlierof(a)30daysafternoticefromtheExecutivetoAAAsorequestingor(b)theoccurrenceofaChangeofControl,providetheExecutivewithanirrevocableletterofcreditintheamountof$,_________fromabanksatisfactorytotheExecutiveagainstwhichtheExecutivemaydrawtopaylegalfeesandexpensesinconnectionwithanyattempttoenforceanyofhisrightsunderthisAgreement.Saidletterofcreditshallnotexpirebefore10yearsfollowingthedateofthisAgreement.Section5.3.Mitigation.TheExecutiveshallnotberequiredtomitigatetheamountofanypaymentprovidedforinthisAgreementeitherbyseekingotheremploymentorotherwise.TheamountofanypaymentprovidedforhereinshallnotbereducedbyanyremunerationthattheExecutivemayearnfromemploymentwithanotheremployerorotherwisefollowinghisTerminationDate.Section5.4.SetoffforDebts.TheCompanymayreducetheamountofanypaymentduetheExecutiveunderarticleIIIofthisAgreementbytheamountofanydebtowedbytheExecutivetotheCompanythatisembodiedinawritteninstrument,thatisduetoberepaidasoftheduedateofthepaymentunderthisAgreementandthattheCompanyhasnotalreadyrecoveredbysetofforotherwise.Section5.5.CoordinationwithEmploymentContract.PaymentstotheExecutiveunderarticleIIIofthisAgreementshallbeinlieuofanypaymentsforbreachofanyemploymentcontractbetweentheExecutiveandtheCompanytowhichtheExecutivemaybeentitledbyreasonofaQualifyingTermination,and,beforemakingthepaymentstotheExecutiveprovidedunderarticleIIIhereof,theCompanymayrequiretheExecutivetoexecuteawaiverofanyrightsthathemayhavetorecoverpaymentsinrespectofabreachofsuchcontractasaresultofaQualifyingTermination.IftheExecutivehasaGoodReasontoresignanddoessobyprovidingthenoticespecifiedinthelastsentenceofsectionl.4ofthisAgreement,heshallbedeemedtohavesatisfiedanynoticerequirementforresignation,andanyservicerequirementfollowingsuchnotice,underanyemploymentcontractbetweentheExecutiveandtheCompany.Section5.6.BenefitofBonusPlans.ExceptasotherwiseprovidedinthisAgreementorrequiredbylaw,theCompanyshallnotbecompelledtoincludetheExecutiveinanyofitsBenefitorBonusPlansfollowingtheExecutive’sTerminationDate,andtheCompanymayrequiretheExecutive,asaconditiontoreceivingthepaymentsprovidedunderarticleIIIhereof,toexecuteawaiverofanysuchrights.However,saidwaivershallnotaffectanyrightsthattheExecutivemayhaveinrespectofhisparticipationinanyBenefitorBonusPlanpriortohisTerminationDate.Section5.7.Funding.Exceptasprovidedinsection5.2ofthisAgreement,theCompanyshallnotberequiredtosetasideanyamountsthatmaybenecessarytosatisfyitsobligationshereunder.TheCompany’spotentialobligationstomakepaymentstotheExecutiveunderthisAgreementaresolelycontractualones,andtheExecutiveshallhavenorightsinrespectofsuchpaymentsexceptasageneralandunsecuredcreditoroftheCompany.Section5.8.DiscountRate.ForpurposesofthisAgreement,thetermDiscountRateshallmeantheapplicableFederalshorttermratedeterminedunderSection1274(d)oftheCodeoritssuccessor.Ifsuchrateisnolongerdetermined,theDiscountRateshallbetheyieldon2-yearTreasurynotesforthemostrecentperiodreportedinthemostrecentissueoftheFederalReserveBulletinoritssuccessor,or,ifsuchrateisnolongerreportedtherein,suchmeasureoftheyieldon2-yearTreasurynotesastheCompanymayreasonablydetermine.Section5.9.DesignatedNumber.ForpurposesofthisAgreement,theDesignatedNumbershallbeTwo(2.0).Section5.10.CovenantofExecutive.IntheeventthattheExecutiveundergoesaQualifyingTerminationthatentitleshimtoanypaymentunderarticleIIIofthisAgreement,heshallnot,for18monthsfollowinghisTerminationDate,either(a)solicitanyemployeeofAAAoramajoritycontrolledsubsidiarythereoftoleavesuchemployandenterintotheemployoftheExecutiveoranypersonorentitywithwhichtheExecutiveisassociatedor(b)solicitorhandleonhisownbehalforonbehalfofanypersonorentitywithwhichheisassociatedtheadvertising,publicrelations,salespromotionormarketresearchbusinessofanyadvertiserthatisaclientofAAAoramajoritycontrolledsubsidiarythereofasoftheTerminationDate.WithoutlimitationofanyotherremediesthattheCompanymaypursue,theCompanymayenforceitsrightsunderthissection5.l0bymeansofinjunction.ThissectionshallnotlimitanyotherrightorremedythattheCompanymayhaveunderapplicablelaworanyotheragreementbetweentheCompanyandtheExecutive.ARTICLEVIGENERALPROVISIONSSection6.l.TermofAgreement.ThisAgreementshallterminateupontheearliestof(a)theexpirationoffiveyearsfromthedateofthisAgreementifnoChangeofControlhasoccurredduringthatperiod;(b)theterminationoftheExecutive’semploymentwiththeCompanyforanyreasonpriortoaChangeofControl;(c)theCompany’sterminationoftheExecutive’semploymentforCauseordeath,theExecutive’scompulsoryretirementwithintheprovisionsofU.S.C.ss.631(c)(or,ifExecutiveisnotacitizenorresidentoftheUnitedStates,compulsoryretirementunderanyapplicableprocedureoftheCompanyineffectimmediatelypriortothechangeofcontrol)ortheExecutive’sresignationforotherthanGoodReason,followingaChangeofControlandtheCompany’sandtheExecutive’sfulfillmentofalloftheirobligationsunderthisAgreement;and(d)theexpirationfollowingaChangeofControloftheDesignatedNumberplusthreeyearsandthefulfillmentbytheCompanyandtheExecutiveofalloftheirobligationshereunder.Section6.2.GoverningLaw.Exceptasotherwiseexpresslyprovidedherein,thisAgreementandtherightsandobligationshereundershallbeconstruedandenforcedinaccordancewiththelawsoftheStateofNewYork.Section6.3.SuccessorstotheCompany.ThisAgreementshallinuretothebenefitofAAAanditssubsidiariesandshallbebindinguponandenforceablebyAAAandanysuccessorthereto,including,withoutlimitation,anycorporationorcorporationsacquiringdirectlyorindirectlyallorsubstantiallyallofthebusinessorassetsofAAAwhetherbymerger,consolidation,saleorotherwise,butshallnototherwisebeassignablebyAAA.Withoutlimitationoftheforegoingsentence,AAAshallrequireanysuccessor(whetherdirectorindirect,bymerger,consolidation,saleorotherwise)toallorsubstantiallyallofthebusinessorassetsofAAA,byagreementinformsatisfactorytotheExecutive,expressly,absolutelyand