Certain Employment Arrangements. Parent agrees to treat the outstanding Company arrangements, set forth in Exhibit B, and to undertake new arrangements set forth in Exhibit B, from and after the Effective Time in the manner, and upon the terms and conditions, set forth in such Exhibit B.
Certain Employment Arrangements. (a) Not less than fifteen (15) days prior to the Closing, Buyer will provide to Company a list identifying the number of the Employees that will be offered employment (each, a "SPECIFIED EMPLOYEE") as Buyer determines satisfy Buyer's needs and hiring criteria (which shall be not less than seventy percent (70%) of Sellers' employees). Prior to (but conditioned upon) the Closing, Buyer shall offer each of the Specified Employees engagement or employment with Buyer. Other than the Specified Employees, Buyer shall have no obligation to engage or hire any Seller Employees.
Certain Employment Arrangements. Commencing at the Closing, the Company shall hire Polinelli (and Polinelli agrees to serve for a period of two (2) years) as a “director” of the Company and, in such capacity, Polinelli shall have the authority to manage the day-to-day operations of the Company, subject to the supervision of the board of directors of the Company such that Polinelli shall not have the authority to (i) hire or fire members of management of the Company without approval of the board of directors of the Company or (ii) cause the Company to deviate in its expenditures by more than five percent (5%) from the Company’s operating budget as approved from time to time by the Company’s board of directors prior to the commencement of the fiscal year. Polinelli shall be paid a pre-tax salary of [CONFIDENTIAL TREATMENT REQUESTED] for each year of such service, plus
Certain Employment Arrangements. Prior to the Closing Date, Buyer will negotiate in good faith with Mr. Lawrence E. Derito with respect to his employment with Buyer. Bxxxx xxxxxx xx offer Mr. Derito an employment arrangement providing for base compensatiox, xxxxx and insurance coverage substantially equivalent to his current base salary, bonus and insurance arrangements as described in the Form S-1 and with other terms of such employment to be negotiated between Buyer and Mr. Derito. Buyer also agrees to negotiate in good faith with Messrs. Xxxxx X. Gershlak, Stephen A. Maggio and Lawrence S. Bartlett, offerxxx xxxx xxxxxxxxtiox xxx xxxxxxxxx compxxxxxxxx xxxxx xxxxxxntially equivalent to that described in the Form S-1 or severance in an amount equal to one year's base salary and any applicable pro rata incentive bonus. Buyer and Seller agree that, if Buyer fails to reach such an agreement with any of such executives, Buyer will only be responsible for severance for such executive in an amount equal to one year's base salary and a pro rata portion of such executive's bonus in the amounts described in the Form S-1 (plus, in the case of Mr. Derito, insurance coverage equivalent to his current insurance covxxxxx xxxxribed in the Form S-1).
Certain Employment Arrangements. (a) At or prior to the Effective Time, Franxxxx X. Xxxxx ("XROWX") xhall receive a lump-sum severance payment in an amount equal to his annual salary, such payment to be in cancellation of Executive's existing rights with respect to severance under his employment agreement. At the Effective Time, Imagyn and Browx xxxll have executed a Non-competition Agreement in the form attached hereto as Exhibit 6.14(a). Such Non-competition Agreement shall restrict Browx xxxm engaging in a business that is competitive with Imagyn's current business for a 12 month term after the Effective Time and provide for a payment of $120,000 on January 2, 1998 and $120,000 on June 30, 1998.
Certain Employment Arrangements. The Company shall have entered into an independent contractor agreement with the President, WizKids Media/Licensing Division, and they shall have terminated all other agreements between them.
Certain Employment Arrangements. (a) The Seller shall be solely responsible for ensuring compliance with the WARN Act (to the extent applicable), payment of accrued vacation or paid time off, and all other Legal Requirements in connection with any reductions in force or other terminations of employees of any of the Seller Corporations.
Certain Employment Arrangements. (i) Mx. Xxxxxx shall continue to be employed by Bank and/or Parent, (ii) the Employment Agreement entered into by Parent with Mx. Xxxxxx shall remain in full force and effect, except in the case of death or disability, and (iii) the Employment Agreement entered into by Parent with Mx. Xxxxxx shall have been terminated without any liability to Bank, Parent or any of their Affiliates and otherwise on terms and conditions reasonably acceptable to Parent; provided, however, that the condition set forth in clause (ii) shall not apply with respect to any Employment Agreement that has been terminated by Parent (other than as required by Applicable Law or if Parent reasonably believes that such termination is required in order to obtain Regulatory Approvals as a result of discussions with Bank Regulators, and Parent provides Bank with written notice of the termination of such Employment Agreement specifying in reasonable detail the basis on which Parent’s reasonable belief for such termination is based).
Certain Employment Arrangements. All arrangements, if any, with respect to the employment of Norbxxx Xxxxxx xxx Thomxx Xxxxx xx Buyer or any of its Affiliates have been finalized to the mutual satisfaction of Buyer and Messrs. Kroner and Tymon.
Certain Employment Arrangements. Prior to the Closing Date, Buyer will negotiate in good faith with Xx. Xxxxxxxx X. Derito with respect to his employment with Buyer. Buyer agrees to offer Xx. Xxxxxx an employment arrangement providing for base compensation, bonus and insurance coverage substantially equivalent to his current base salary, bonus and insurance arrangements as described in the Form S-1 and with other terms of such employment to be negotiated between Buyer and Xx. Xxxxxx. Buyer also agrees to negotiate in good faith with Messrs. Xxxxx X. Xxxxxxxx, Xxxxxxx X. Xxxxxx and Xxxxxxxx X. Xxxxxxxx, offering base compensation and incentive compensation terms substantially equivalent to that described in the Form S-1 or severance in an amount equal to one year's base salary and any applicable pro rata incentive bonus. Buyer and Seller agree that, if Buyer fails to reach such an agreement with any of such executives, Buyer will only be responsible for severance for such executive in an amount equal to one year's base salary and a pro rata portion of such executive's bonus in the amounts described in the Form S-1 (plus, in the case of Xx. Xxxxxx, insurance coverage equivalent to his current insurance coverage described in the Form S-1).
