CEO agreements or CEO contracts are important for running smooth business. Companies opt for legally binding agreements with the CEO for the following reasons: To ensure that the CEO and the company agree on all the benefits and compensation that the CEO should receive and that the duration is at his convenience. Describe the CEO`s duties by including a separate job description to record all business expenses that may or may not be borne by the CEO. To ensure that the annual REVIEW of the CEO`s performance is done in writing. Restrictions on the protection of the company by clauses such as non-competition, confidentiality, etc. The above restrictions apply only in the geographic areas for which you have been responsible in the last twelve (12) months of your employment with the company. The restrictions in this paragraph do not prohibit you from holding securities of a company operating in such a transaction, which is held and traded in the public domain, but which may at no time exceed 5 (5) per cent of a class of shares or securities of that company. In addition, during the non-competitive period, you cannot request or take into account suppliers or customers with whom the company or its associated companies have a business relationship to terminate such a business relationship with the entity or its related companies. In the event of a change of control of the company, you may, at your own discretion, have such a termination carried out within sixty (60) days of this event, for reasons not for all purposes of this Agreement. „Change of control“ (except as stated in this definition) (i) is defined as a change in economic ownership by a company or individual, either directly or indirectly, of shares or shares of Kenneth Cole Productions, Inc. with a voting right greater than fifty percent (50%) I did it. or more of the total power of the stock of the holdings or shares of the company concerned or (ii) of a merger, consolidation or reorganization of Kenneth Cole Productions, Inc., in which the shareholders of the company concerned do not, immediately prior to the transaction, have an economic beneficiary of at least fifty percent (50%) the combined voting rights of the voting rights of the surviving company or its parent company immediately after the transaction or (iii) any sale or sale or sale of all or part of Kenneth Cole Productions, Inc.`s assets to a buyer or other acquirer whose shareholders of the subcontracting company do not , immediately prior to the transaction, an economic beneficiary of at least fifty per cent (50%) hold the combined voting rights of the voting rights of the surviving company or its parent company immediately after the transaction.