Common use of Employees; Employee Compensation Clause in Contracts

Employees; Employee Compensation. Except as set forth in Schedule 3.21, to the Issuer's knowledge, (i) there is no strike or labor dispute or union organization activities pending or threatened between it or its Subsidiaries and their respective employees; (ii) none of the Issuer's or its Subsidiaries' employees belongs to any union or collective bargaining unit; (iii) the Issuer and its Subsidiaries have complied in all material respects with all applicable state and federal equal opportunity and other laws related to employment, the failure to comply with which is material to the Issuer and its Subsidiaries, taken together as a whole; (iv) no employee of the Issuer or its Subsidiaries is or will be in violation in any material respect 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 the Issuer or its Subsidiaries or any other party because of the nature of the business conducted or contemplated to be conducted as of the date hereof by the Issuer or its Subsidiaries; and (v) no officer or key employee, or any group of key employees, intends to terminate their employment with the Issuer or its Subsidiaries, nor does the Issuer or any of its Subsidiaries have a present intention to terminate the employment of any of the foregoing. Except as set forth in Schedule 3.21, the Issuer and its Subsidiaries are not parties 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. Subject to general principles related to wrongful termination of employees, the employment of each officer and employee of the Issuer or its Subsidiaries not covered by an employment contract is terminable at the will of the Issuer or its Subsidiaries.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Econophone Inc), Securities Purchase Agreement (Econophone Inc)

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Employees; Employee Compensation. Except as set forth in on Schedule 3.213.22, to the Issuer's knowledge, (i) there is no strike or material labor dispute or union organization activities pending or threatened between it or its Subsidiaries and their respective employees; (ii) none of the Issuer's or its Subsidiaries' employees belongs to any union or collective bargaining unit; (iii) the Issuer and its Subsidiaries have complied are in all material respects compliance with all applicable state and federal equal opportunity and other laws related to employment, the failure to comply employment (except where such noncompliance with which is material to the Issuer and its Subsidiaries, taken together as such laws would not result in a wholeMaterial Adverse Effect); (iv) no employee of the Issuer or its Subsidiaries is or will be in violation in any material respect 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 the Issuer or its Subsidiaries or any other party because of the nature of the business conducted or contemplated to be conducted as of the date hereof by the Issuer or its SubsidiariesSubsidiaries or to the use by the employee of his best efforts with respect to such business; and (v) no officer or key employee, or any group of key employees, employee intends to terminate their employment with the Issuer or its Subsidiaries, nor does the Issuer or any of its Subsidiaries have a present intention to terminate the employment of any of the foregoing. Except as set forth in Schedule 3.213.22, the Issuer and its Subsidiaries are not parties 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 agreementagreement any of which could reasonably be expected to result in a material liability or commitment. Subject to general principles related to wrongful termination of employeesemployees and the requirements of applicable law, the employment of each officer and employee of the Issuer or its Subsidiaries not covered by an employment contract is terminable at the will of the Issuer or its Subsidiaries.

Appears in 1 contract

Samples: Securities Purchase Agreement (Impsat Corp)

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Employees; Employee Compensation. Except as set forth in Schedule 3.21, to (a) To the IssuerCompany's knowledge, (i) there is no strike or strike, labor dispute or union organization activities activity pending or threatened between it or its Subsidiaries Subsidiaries, on the one hand, and their respective employees; (ii) none , on the other. None of the Issuer's employees of the Company or any of its Subsidiaries' employees Subsidiaries belongs to any union or collective bargaining unit; (iii) . To the Issuer Company's knowledge, the Company and its Subsidiaries have complied in all material respects with all applicable state and federal equal opportunity and other laws related to employment. (b) All employee benefits plans and arrangements (regardless of whether such plans or arrangements are covered by the Employee Retirement Income Security Act of 1974, as amended, and all regulations promulgated thereunder, as in effect from time to time ("ERISA")) maintained by or contributed to by the failure to comply with which is material to the Issuer Company and its SubsidiariesSubsidiaries are maintained in compliance in all material respects with Applicable Law, taken together as a whole; including any reporting requirements. (ivc) To the Company's knowledge, no employee of the Issuer Company or any of its Subsidiaries, nor any consultant with whom the Company or any of its Subsidiaries has contracted, is, will be, or is or will be alleged by any Person to be, in violation in any material respect of any judgment, decree, or order, or any material term of any employment contractContract, patent disclosure agreement, proprietary information agreement or any other contract or agreement relating to affecting the relationship right of any such employee individual to be employed by or contract with the Issuer Company or any other Person, and the continued employment by the Company or its Subsidiaries or any other party because of its present employees and the performance of the nature Contracts of the business conducted or contemplated to be conducted Company and its Subsidiaries with their respective independent contractors will not result in any such violation. (d) Except as of set forth on Schedule 3.19, neither the date hereof by the Issuer or its Subsidiaries; and (v) no officer or key employee, or any group of key employees, intends to terminate their employment with the Issuer or its Subsidiaries, nor does the Issuer Company or any of its Subsidiaries have nor any entity considered a present intention to terminate single employer with the employment Company under Section 4001(a)(14) of any ERISA or Section 414(b), (c), (m), (n), or (o) of the foregoing. Except as set forth in Schedule 3.21, the Issuer and its Subsidiaries are not parties Code is a party to or bound by any currently effective employment contractContract, deferred compensation agreement, bonus plan, incentive plan, profit sharing plan, retirement agreement, or other employee compensation agreement. Subject to general principles related to wrongful termination of employees, the employment of each officer and employee of the Issuer or its Subsidiaries not covered by an employment contract is terminable at the will of the Issuer or its Subsidiaries.,

Appears in 1 contract

Samples: Stock Purchase Agreement (Eventures Group Inc)

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