Common use of Employees; Employee Compensation Clause in Contracts

Employees; Employee Compensation. There is no strike, labor dispute or union organization activities pending or, to the best of Rigel's knowledge, threatened between it and its employees. None of Rigel's employees belongs to any union or collective bargaining unit. To the best of its knowledge, Rigel has complied in all material respects with all applicable state and federal equal opportunity and other laws related to employment. To the best of Rigel's knowledge, no employee of Rigel is or will be in violation of any judgment, decree, or order, or any term of any employment contract, patent disclosure agreement, or other contract or agreement relating to the relationship of any such employee with Rigel, or any other party because of the nature of the business conducted or presently proposed to be conducted by Rigel or to the use by the employee of his or her best efforts with respect to such business. Rigel is not a party to or bound by any currently effective employment contract, deferred compensation agreement, bonus plan, incentive plan, profit sharing plan, retirement agreement, or other employee compensation agreement, except as entered into in the ordinary course of business. Rigel is not aware that any officer or key employee, or that any group of key employees, intends to terminate their employment with Rigel, nor does Rigel have a present intention to terminate the employment of any of the foregoing. Subject to general principles related to wrongful termination of employees, the employment of each officer and employee of Rigel is terminable at the will of Rigel.