Assumption of Employment Agreement. Separate and apart from the provision of Consulting Services hereunder, as of the Effective Time and pursuant to the operation of law, Bank agrees to assume MNB’s and Merchants Bank’s obligations as successor in interest to the rights under the Employment Agreement including, but not limited to, any obligations and payments owed to Consultant as a result of the triggering of the Change in Control provisions under Section 6 and 7 of the Employment Agreement. Bank shall not be obligated to reimburse Consultant for Consultant’s individual COBRA health insurance coverage as otherwise set for in the Employment Agreement.
Assumption of Employment Agreement. As of the Effective Time, NetScreen shall assume the Employment Agreement, as amended by this Amendment and Assumption Agreement, and Employee hereby consents to such assumption. Except as expressly set forth in this Amendment and Assumption Agreement, the terms and provisions of the Employment Agreement shall remain in full force and effect. References herein to the Employment Agreement shall be to the Employment Agreement as amended by this Amendment and Assumption Agreement, except in Section 2 and Section 3(ii) hereof.
Assumption of Employment Agreement. The Company hereby assumes the Employment Agreement and employs Employee on all of the terms and subject to the conditions set forth in the Employment Agreement, as amended by this Agreement, effective as of the closing date of the Merger. Except as set forth herein, after the assumption, all references to the “Company” in the Employment Agreement will mean the Company, and all references to the “Bank” in the Employment Agreement will mean Shore United Bank.
Assumption of Employment Agreement. At the Closing, HEALTHSOUTH shall assume the obligations of Horizon/CMS under that certain Employment and Change of Control Agreement dated as of January 1, 1997, between Horizon/CMS and Xxxx X. Xxxxxxx.
Assumption of Employment Agreement. From and after the Effective Date, GWDS does hereby expressly assume and agree to be liable for and to pay and perform all of the terms, conditions, liabilities and obligations of Diamondback under the Employment Agreement.
Assumption of Employment Agreement. At the Effective Time, ACNB Bank will assume Executive’s FC Employment Agreement and Executive will continue to be employed in the position of by ACNB Bank, with the same title, position and compensation as under the FC Employment Agreement.
Assumption of Employment Agreement. The Company hereby assumes the Employment Agreement and Employee hereby consents to the assignment to and assumption by the Company of the Employment Agreement.
Assumption of Employment Agreement. C&N acknowledges that as of the Effective Date of the Merger it shall succeed to and assume the obligations of Citizens under the Employment Agreement and hereby agrees to comply with and cause C&N Bank to comply with, the terms and conditions of the Employment Agreement, as such terms and conditions may be amended, modified or explained by this Addendum. All references in the Employment Agreement to the “Company” shall, after the Effective Time, be deemed to be references to “C&N”.
Assumption of Employment Agreement. Seller shall deliver evidence, satisfactory to Buyer, that the obligations of Elmagco arising out of or related to any employment or other compensation agreements with X.X. Xxxxx, Xx. shall have finally and completely been assumed by Seller.
Assumption of Employment Agreement. This letter agreement confirms our mutual agreement and understanding that your Amended and Restated Executive Employment Agreement dated as of June 5, 2014 by and between you, Oceania Cruises, Inc. and PCI (the “Employment Agreement”) shall be assumed by the Company as the surviving entity in the Merger. Except as provided below, the terms of your Employment Agreement will remain in full force and effect following the Merger. The parties hereto agree to enter into an amendment of your Employment Agreement on terms consistent with this letter agreement as soon as practicable following the date hereof to be effective (and conditioned) upon the consummation of the Merger.
