Compensation, etc. Except as disclosed in Schedule 4(t)(ii), Seller is not subject to, and has no obligation under, any employment, consulting, or collective bargaining contracts, deferred compensation, pension (as defined in Section 3(2) of the Employee Retirement Income Security Act ("ERISA")), profit-sharing, bonus, stock option, stock appreciation, stock purchase, or other nonqualified benefit or compensation commitments, benefit plans, arrangements, or plans, including any welfare plans (as defined in Section 3(1) of ERISA), fringe benefit arrangements, or multi-employer plans (as defined in Section 3(37)(A) of ERISA) of or pertaining to the present or former employees involved in the Business. To the extent Seller has in effect any of the foregoing contracts, plans or arrangements, Seller has complied with all of its obligations thereunder in all material respects.
Compensation, etc. Except as set forth in Schedule 2.17(b), the Company is not subject to, and has no obligation under, any employment, consulting, or collective bargaining contracts, deferred compensation, pension (as defined in Section 3(2) of the Employee Retirement Income Security Act (ERISA), profit-sharing, bonus, stock option, stock appreciation, stock purchase, or other nonqualified benefit or compensation commitments, benefit plans, arrangements, or plans, including any welfare plans (as defined in Section 3(1) of ERISA), fringe benefit arrangements, or multi-employer plans (as defined in Section 3(37)(A) of ERISA) pertaining to the Business Employees (collectively, the "Plans"). The Company has never had any Plans.
Compensation, etc. Hire new employees, grant any salary or wage increase, grant new equity-related awards or severance or termination payments or increase any employee benefit, including incentive or bonus payments (or, with respect to any of the preceding, communicate any intention to take such action), except (1) to make changes that are required by applicable law, (2) to satisfy Previously Disclosed contractual obligations existing as of the date hereof, or (3) for hiring of employees or salary increases and normal adjustments in bonuses and incentive compensation in each case (A) in the ordinary course of business, (B) in accordance with past practice and (C) to the extent such adjustment does not impact any person receiving or entitled to receive in excess of $100,000 per year.
Compensation, etc. The Borrower hereby agrees to compensate each ------------------ Lender for making a Deposit by paying such Lender compensation on the outstanding principal amount of such Lender's Deposit from the date of such Deposit until the date (the "Release Date") such Deposit shall be transferred to ------------ the Borrower's Depositary Account in accordance with Section 2.13(d) or withdrawn by such Lender in accordance with Section 2.13(e), at a rate per annum equal at all times to the Special Funding Rate for such Lender in effect from time to time (net of earnings, if any, on such Deposit payable by the Depositary), such compensation to be payable on the Expected Funding Date and on the Release Date. The costs and expenses of opening and maintaining the Pre- Funding Deposit Accounts are for the account of the Borrower.
Compensation, etc. In any and all claims against Operator, by -------------------------- or on behalf of any employee of Lessee or any party for whose acts Lessee may be liable, the indemnification obligation stated above shall not be limited in any way by any compensation or benefits payable by or for Lessee under any applicable workers' compensation act, disability act or other act providing employee benefits or limiting the direct liability of Lessee with respect to the same.
Compensation, etc. The Seller shall remain responsible for all payments due with respect to any workers compensation or other claim filed by any of the Transferred Employees prior to the Closing or for any claims arising from any alleged act or omission prior to Closing.
Compensation, etc. (a) During the portion of the Employment Period from the Effective Date through the 2010 AGM Date, the terms of the Original Employment Agreement shall continue in full force and effect in accordance with the original terms thereof except as expressly set forth herein.
(b) During the portion of the Employment Period from the 2010 AGM Date through the balance of the Company’s 2011 fiscal year (i.e., through February 26, 2011) (the “Initial Extended Term”), the provisions of Section 3(a) (“Base Salary” (i.e. providing for an annual Base Salary of not less than $1,000,000), 3(b) (“Incentive Compensation”) (i.e. targeted at 200% of the Annual Base Salary), 3(c) (“Other Benefits”), 3(d) (“Deferred Compensation; Service Credit”) and 3(f) (“Indemnification”) under the Original Employment Agreement shall continue to apply in their entirety in accordance with the original terms thereof, notwithstanding that Executive’s position shall have changed on the 2010 AGM Date to Chairman from Chairman and Chief Executive Officer. Such provisions are incorporated herein by reference.
(c) During the portion of the Employment Period commencing after the Initial Extended Term through the Expiration Date (the “Subsequent Extended Term”), the Company shall pay Executive an annual base salary of $350,000, in accordance with the Company’s regular payroll practice for its senior executives as in effect from time to time (but in no event less frequently than monthly). Executive shall also be entitled in their entirety to (i) continued benefits as provided under Section 3(c) (“Other Benefits”) of the Original Employment Agreement except for the personal use of Company-owned aircraft which shall cease after the Initial Extended Term, (ii) continued compensation as provided under Section 3(d) (“Deferred Compensation; Service Credit”) and (iii) continued rights under Section 3(f) (“Indemnification”) of the Original Employment Agreement. Such provisions are incorporated herein by reference. Executive shall not be entitled to participate in any Incentive Compensation or bonus plans (or any successor thereto) accruing during the Subsequent Extended Term.
(d) Notwithstanding anything to the contrary herein or in the Original Employment Agreement, following any termination for any reason (other than Cause) of the Executive’s employment with the Company, the Company shall make an annual payment (as previously agreed) to the Executive during her life (and thereafter to her surviving spouse for ...
Compensation, etc. (1) As full and complete compensation for any and all services which the Consultant may render hereunder, Head & Xxxxxxxx shall pay Consultant the sum of Three Million and No/100 ($3,000,000.00) Dollars, to be paid in $25,000.00 increments on a monthly basis, with the first $25,000.00 payment being made on or before July 1, 1999, and each payment thereafter due and payable on or before the first day of the month, until paid. Head & Xxxxxxxx will reimburse the Consultant for all reasonable and actual out-of-pocket expenses incurred by him in the performance of his duties hereunder upon presentation of appropriate documentation therefor in accordance with Head & Xxxxxxxx'x policies then in effect with respect to such matters.
(2) Subject only to the approval of the applicable insurer, which approval Head & Xxxxxxxx represents, warrants and covenants it has sought and will seek to maintain with all commercially reasonable efforts, during the Consulting Period, to the extent so approved by the applicable insurer, Head & Xxxxxxxx will continue to provide the Consultant and his eligible covered dependents with the hospitalization and medical and disability insurance group plan coverages that it made available to him immediately prior to the effectiveness of this Consulting Agreement or group plan coverages that are substantially similar thereto in all material respects.
Compensation, etc. 13.3 Indemnity 14. Taxes 14.1 Payment When Due 14.2 Withholding Taxes 14.3 Election
Compensation, etc. Franchisee agrees to participate in any governmental Worker's Compensation Program, unemployment insurance program, hospitalization program and any other similar program which may be required by the laws of the country where the Franchised Restaurant is located.
