Consulting and Employment Agreements. (a) Buyer shall have entered into an employment agreement (the “Employment Agreement”) and a noncompetition agreement with Xxxx Xxxxx substantially in the forms of Exhibits 9.6(a)(i) and 9.6(a)(ii) hereto.
(b) Seller shall have delivered to Buyer a termination and release agreement between Seller and Xxxx Xxxxx with respect to the termination of Xxxx Xxxxx’x employment agreement with Seller.
Consulting and Employment Agreements. The Purchaser shall cause StratusCore and its selected team to enter into a consulting agreement until the Closing Date is resolved, thereafter signing Employment Agreements or a Consulting Agreement for key team members for a term to be defined with the Purchaser to perform those services agreed to for the compensation contained therein (each a “Employment Agreement”). The Seller’s Employment Agreement shall be an independently enforceable contract between the Purchaser and the Seller, whereas the Seller in conjunction with the Purchaser shall develop the Employment Agreements with other StratusCore team members. Such Employment Agreements are an integral part of this Agreement and an uncured, material breach by the Purchaser during the initial period of any of the Employment Agreements shall be considered to be a breach of this Agreement, entitling the Seller to exercise their rights under Section 1.9.
Consulting and Employment Agreements. In connection with the Closing, Purchaser and each of Xxxx, Long and Xxxxx shall enter into consulting or employment agreements in forms substantially similar to those set forth as Exhibit E hereto in the case of Xxxx, Exhibit F hereto in the case of Long, and Exhibit G hereto in the case of Xxxxx. Each of Xxxx, Long and Xxxxx hereby acknowledge and agree that Purchaser would not have entered into this Agreement but for each of Xxxx, Long and Xxxxx agreeing to the terms set forth in each of their respective consulting or employment agreements attached hereto, and in particular, to the agreement by each of Xxxx, Long and Xxxxx to the terms thereof related to covenants not to compete and similar matters.
Consulting and Employment Agreements. Read McCaxxx xxxll have entered into a consulting agreement with the Purchaser in the form attached hereto as Exhibit C-1 and Cathxxxxx X. Xxxx xxx Paul X. Xxxxxxxxx xxxll have entered into employment agreements with the Purchaser in the form attached hereto as Exhibits C-2 and C-3, respectively.
Consulting and Employment Agreements. (1) Parent shall have received an executed Consulting Agreement from Xxxxxx Xxxxxxx; and (2) Parent shall have received executed Employment Agreements from each of Xxxxxx Xxxxxxx and Xxxx Xxxxxxxx.
Consulting and Employment Agreements. Purchaser and Seller shall enter into employment and/or consulting agreements with the individuals listed on Schedule 5.9 on the terms set forth therein (the “Employment and Consulting Agreements”).
Consulting and Employment Agreements. Jamex X. Xxxxxxxx shall execute and deliver to Purchaser a Consulting Agreement providing for a term of at least six (6) months, and with an option on the part of Purchaser to extend the term for a period of up to eighteen (18) months and giving Jamex X. Xxxxxxxx xxx right to retain for his use the leased Lincoln automobile currently used by him. During the term of the Consulting Agreement Jamex X. Xxxxxxxx xxxll be paid for his services at the rate of Six Hundred Dollars ($600.00) per day, shall be available for as many as five (5) days per week, shall provide services on those days reasonably requested by the Purchaser and will, regardless of actual days worked, be paid for a minimum of three (3) days per week. During each six month period Jamex X. Xxxxxxxx xxxll be permitted three (3) weeks of vacation, which shall include the first two (2) weeks of July, during which he shall not be required to provide consulting services but shall nevertheless be paid. Vacations shall be scheduled in advance with the consent of Purchaser, which consent shall not be unreasonably withheld.
Consulting and Employment Agreements. At the Closing, Buyer shall, and Seller shall cause each of Normxx Xxxxxx, Xxndxxx X.
Consulting and Employment Agreements. From and after the Effective Time, the Holding Company and Triangle will honor the employment agreements between United Federal and each of Xxxx X. Xxxxxx and Xxxxxx X. Xxxxx dated January 1, 1997 and April 1, 1997, respectively. In addition, at the Effective Time, the Holding Company will enter into a consulting agreement with each of Xx. Xxxxxx and Xx. Xxxxx in the form attached hereto as Schedule C to this Agreement. Provided they each remain employed by United Federal at the Effective Time in their respective current position, Triangle shall enter into an employment agreement with Xxxx X. Xxxxx, Xxxxx Xxxxxxxxxx and Xxxx Xxxxxx as of the Effective Time which shall contain substantially the same terms and conditions and be in substantially the same form as is attached as Schedule D to this Agreement; provided, that in the event Triangle and any of those three individuals do not agree within ninety (90) days prior to the Closing as to the terms and provisions of the form of employment agreement and as to any specifics left incomplete in the form of employment agreement, Triangle shall pay such individual his current monthly base salary for fifteen (15) months, provided he remains employed by United Federal from the date of this Agreement until thirty (30) days after the Effective Time, such payments to begin in the month following the 30-day period after the Effective Time. In consideration of this payment, the individual would enter into a non-compete provision identical to that contained in the form of employment agreement attached as Schedule D except that the non-compete would (i) have a duration of the 15-month payment periods, and (ii) prohibit employment with any financial institution operating a branch in any county in which any banking subsidiary of the Holding Company has a branch.
Consulting and Employment Agreements. On or prior to the Closing Date, the Company and the Controlling Shareholder will enter into a Consulting and Non-Competition Agreement in the form attached hereto as Exhibit H. On or prior to the Closing Date, the Company and Xxxxxxx X. Xxxxx, the current President and Chief Operating Officer of the Company, will enter into an Employment and Non-Competition Agreement on substantially the terms set forth in Exhibit I hereto.
