Amendment of Employment Agreements. Except for that certain Amendment to Agreement and Plan of Reorganization and Merger, dated as of December 20, 1996, neither Xxxxxxx nor Xxx nor the Company shall enter into any amendment, modification or waiver of their Employment Agreements with the Company nor shall the Company extinguish, forgive or reduce (except for payment made) any debt owed to the Company from any employee without the prior written consent of Xxxxxx.
Amendment of Employment Agreements. The Company shall have delivered to the Purchasers an amendment to the Company's employment agreements with each of Xxxxxx, Xxxxxxx Xxxx ("Xxxx") and Xxxxxx Xxxxxxx ("Xxxxxxx"), each such agreement dated as of June 1, 1997 (the "Employment Agreements"), duly executed by the Company and the respective employee, in a form reasonably acceptable to the Purchasers, providing that a "change of control", as that term is used in the Employment Agreements, shall not be deemed to have occurred: (i) upon the acquisition of any shares of Common Stock of the Company pursuant to the exercise of any Warrant issued by the Company under the Investment Agreement, (ii) upon the exercise of any of the rights and privileges granted to each of the Purchasers pursuant to Section 6.2.5 of the Investment Agreement, (iii) upon the exercise of any of the rights and privileges granted to each of the Purchasers pursuant to Section 5.1 of the Series B Certificate or (iv) otherwise as a result of the equity ownership or designation of directors by the Purchasers or their Affiliates, employees, partners or members.
Amendment of Employment Agreements. On the Effective Date, the Reorganized Debtors shall assume the Amended Management Employment Agreements.
Amendment of Employment Agreements. The Prime Agreement and the Austin Agreement are hereby amended to read in the forms annexed hereto as Exhibits A and B, respectively. Except as provided in Section 4 hereof, all obligations of Atlas to make any further payments pursuant to Sections 2.6 and 2.7 of the Employment Agreements as in effect prior to the date hereof are hereby terminated.
Amendment of Employment Agreements. Atlantic shall have entered into amended employment agreements with Frederic P. Zotos, Nicholas J. Rossettos, A. Joseph Rudick, Michael Fxxxxxx, xxx Xxxxx Lxxx, xxx xxxxx xx xxxch shxxx xx xxxxxxt xx xxx xxxxxxx of Manhattan, which shall not be unreasonably withheld. Such amended agreements shall provide that one-half of the deferred salary and accrued bonus payable to each such employee upon the termination of his or her employment by Atlantic without cause shall be paid at such time that Atlantic has received aggregate cash funds of $3 million from financings or other sources on or after the Effective Time; and the remaining one-half of the deferred salary and accrued bonus shall be paid at such time as Atlantic has received aggregate cash funds of $6 million from financings or other sources on or after the Effective Time.
Amendment of Employment Agreements. The Company shall use all reasonable efforts to cause the individuals listed in Section 6.5(f) of this Agreement, to execute and deliver to Parent, as promptly as practicable after the execution of this Agreement, an Amendment to Employment Agreement in the form of EXHIBIT J.
Amendment of Employment Agreements. Existing employment agreements between Seller or any of its Related Persons and employees of the Acquired Companies designated by Seller shall have been amended by mutual agreement of the parties to such agreements to preserve and continue noncompetition obligations of such employees after the Closing.
Amendment of Employment Agreements. Notwithstanding any provision to the contrary, each of Xxxxxx and Xxxxx hereby consent to the amendment of Exhibit A to each of their respective Employment Agreements with respect to (i) the description of the Executive Incentive Plan referenced therein, which shall be amended and restated to read as follows: “As set forth in the Agreement made as of December 31, 2008 by and among the Bank, Xxxxxx and Xxxxx,” and (ii) effective as of May 4, 2009, the annual salary of Xxxxxx will be $225,000 and the annual salary of Xxxxx will be $215,000.
Amendment of Employment Agreements. Any LMP employment agreement, written or oral, under which any LMP employee is entitled to a commission or bonus based on LMP's overall revenues shall be amended to delete such entitlement.
Amendment of Employment Agreements. Davix Xxxxxxxx xxx Melvxx Xxxxxxx, xxall have executed the Amended Employment Agreements appended hereto as EXHIBITS E AND F, respectively, extending the expiration date of the Employment Agreements.