AGREEMENTS BY THE COMPANY. The Company, for and on behalf of itself and its successors and assigns, agrees that (a) it shall not issue, transfer or reissue any Shares or other securities of the Company in violation of the provisions of this Agreement; and (b) all certificates representing Shares shall bear an endorsement in substantially the form specified in Section 5.2 of this Agreement.
AGREEMENTS BY THE COMPANY. To induce CS/FB to enter into this Agreement and to make the forbearances as contemplated by this Agreement, the Company agrees that:
AGREEMENTS BY THE COMPANY. In consideration of the mutual promises, conditions, and covenants by Xx. Xxxxxxx set forth in this Agreement, and in accordance with the recitals set forth above, the Company agrees as follows:
AGREEMENTS BY THE COMPANY. The Company agrees with the several Underwriters that:
AGREEMENTS BY THE COMPANY. To induce the Lender to enter into this Agreement and to make the forbearances as contemplated by this Agreement, the Company agrees that:
AGREEMENTS BY THE COMPANY. The Company agrees that it (a) ------------------------ shall pay, on April 1, 2007, the Triggering Event Redemption Price (calculated as of April 1, 2007) with respect to each Preferred Share outstanding on April 1, 2007 to the holder of such Preferred Share, and (B) shall not deliver any notice to any holder of Preferred Shares pursuant to the last sentence of Section V(F).
AGREEMENTS BY THE COMPANY. The Company and the Investors recognize and agree that nothing in this Article IV shall constitute a part of or be deemed included in the terms of the Notes, which terms are set forth in Exhibit 2-A hereto. The Company and the Investors further recognize and agree that nothing in this Article IV shall constitute a limitation on or otherwise affect the Superintendent's discretionary authority pursuant to Section 1307 of the NYIL with respect to the approval of payments on the Notes.
SECTION 4.1. [Intentionally omitted]
SECTION 4.2. [Intentionally omitted].
SECTION 4.3. [Intentionally omitted].
SECTION 4.4. [Intentionally omitted].
AGREEMENTS BY THE COMPANY. Unless and until the Executive breaches any of his agreements contained in clause 3 of this Agreement, the Company agrees that:
2.1 the Executive's employment with the Company terminated with effect from 7th December 2001 (the "Termination Date"). The Company will pay the Executive his final accrued salary, and all accrued and unused reasonably documented holiday pay (7.5 days), earned up to and including the Termination Date through the payroll in the normal manner;
2.2 subject to clause 2.3 below, it will pay to the Executive a severance payment which includes a payment in lieu of the Executive's notice entitlement and is taxable in full. The severance payment made by the Company will be the sum of (pound)363,025 less basic rate Income Tax and Employee National Insurance Contributions ("the Severance Payment"). The Company will account to the Inland Revenue for the deductions of Income Tax and Employee National Insurance Contributions made. Any additional Income Tax and/or Employee National Insurance Contributions for which the Executive may be liable will be payable by the Executive to the Inland Revenue as part of the settlement of his tax affairs for the tax year 2001/2002;
2.3 the Severance Payment will be paid as follows:
2.3.1 the first (pound)150,000 (`the First Lump Sum Payment') will be paid into an escrow account opened in the joint names of Eversheds Solicitors and Radcliffes Solicitors for the benefit of the Executive ("the Escrow Account") within 7 US Business Days of receipt of this Agreement signed by the Executive and the Independent Adviser by Caroline Garden of Eversheds, 115 Colmore Row, Birxxxxxxx B3 3AL ("Eversheds"). Xx xxx xxxxx xxxx xxx Xxxxxxx xxxxives confirmation from the Inland Revenue that the Loan Forgiveness referred to at clause 2.7 below is not subject to Income Tax and/or Employee National Insurance Contributions the First Lump Sum Payment will be paid to the Executive, together with any interest WITHOUT PREJUDICE AND SUBJECT TO CONTRACT earned thereon, within 7 US Business Days of receipt of such confirmation from the Inland Revenue. In the event that the Inland Revenue deems the Loan Forgiveness to be subject to Income Tax and/or Employee National Insurance Contributions, the Company will pay any such sums demanded to the Inland Revenue from the Escrow Account and pay to the Executive any balance remaining in the Escrow Account together with interest earned thereon, within 7 US Business Days of the Company's receipt of...
AGREEMENTS BY THE COMPANY. Conditioned on Employee not breaching any of its representations or covenants hereunder, the Company agrees to the following:
a. the Company shall make severance payments to Employee during the twelve (12) months after the expiration of the Revocation Period (as defined in Section 14) (the “Severance Period”) in a gross amount of up to $162,500.04 which amount shall be subject to applicable tax withholdings and shall be paid as follows:
(i) during the first six (6) months of the Severance Period, the Company shall pay Employee at a gross monthly rate of $16,666.67; and
(ii) during the remaining six (6) months of the Severance Period, the Company shall pay Employee at a gross monthly rate of $10,416.67. All such amounts shall be payable according to the Company’s normal payroll schedule, commencing on the first regular payroll date during the Severance Period.
AGREEMENTS BY THE COMPANY. Conditioned on Employee not breaching any of its representations or covenants hereunder, the Company agrees to make, or cause to be made, monthly severance payments to Employee at a gross monthly rate of $19,166.66 for the three (3) month period following the expiration of the Revocation Period (as defined in Section 12) or, if earlier, until the date Employee is engaged to provide services for an entity on a substantially full-time basis (whether as an employee, consultant or otherwise) (the “Severance Period”). Such amounts shall be payable according to the Company’s normal payroll schedule, commencing on the first regular payroll date during the Severance Period.
