Common use of Compensation of and Indebtedness to and from Employees Clause in Contracts

Compensation of and Indebtedness to and from Employees. (i) Schedule 6(o)(i) sets forth a true and complete list of the names of and positions held by each employee of Seller and the current compensation of each such employee, including salary, bonus, other incentive compensation and other perquisites and benefits. (ii) Except as set forth in Schedule 6(o)(ii), Seller has no financial obligation and is not otherwise indebted to any person who is an officer, director, member or employee of Seller, or to any relative of any such person or to any entity controlled directly or indirectly by, or otherwise affiliated with, such person, in any amount whatsoever other than for compensation for services rendered since the start of the current pay period of Seller generally utilized for its employees and for normal and customary business expenses, nor is any officer, director, member or employee of Seller, or any relative of such person or any entity controlled directly or indirectly by, or otherwise affiliated with, such person, indebted to Seller except for normal and customary business reimbursement advances made in the ordinary course of business.

Appears in 7 contracts

Samples: Asset Purchase Agreement (Planet Polymer Technologies Inc), Asset Purchase Agreement (Planet Polymer Technologies Inc), Asset Purchase Agreement (Planet Polymer Technologies Inc)

AutoNDA by SimpleDocs

Compensation of and Indebtedness to and from Employees. (i) Schedule 6(o)(i) sets forth a true and complete list of the names of and positions held by each employee of Seller Antigen (“Employees”) and the current compensation of each such employee, including salary, bonus, other incentive compensation and other perquisites and benefits. (ii) Except as set forth in Schedule 6(o)(ii), Seller Antigen has no financial obligation and is are not otherwise indebted to any person who is an officer, director, member or employee of SellerAntigen, or to any relative of any such person or to any entity controlled directly or indirectly by, or otherwise affiliated with, such person, in any amount whatsoever other than for compensation for services rendered since the start of the current pay period of Seller generally utilized for its employees and for normal and customary business expenses, nor is any officer, director, member or employee of Seller, or any relative of such person or any entity controlled directly or indirectly by, or otherwise affiliated with, such person, indebted to Seller Antigen except for normal and customary business reimbursement advances made in the ordinary course of business.

Appears in 1 contract

Samples: Stock Purchase Agreement (Planet Technologies, Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!