Employment Agreements and Severance Agreements. Parent shall cause the Company to honor without modification (except to the extent the same may be modified by mutual agreement between the parties and approved by the Purchaser) all employment agreements and severance agreements in effect prior to the date hereof between the Company and any employee of the Company, all of which, the Company hereby represents and warrants, have been disclosed in writing to Parent prior to the date hereof.
Employment Agreements and Severance Agreements. (a) The Surviving Corporation shall assume the obligations under the Stone Employee Agreements and severance agreements to which Stone is a party or is otherwise subject, to the extent such agreements are listed on Section 4.11 or Section 6.1(g) of the Stone Disclosure Schedule.
(b) To the extent service is relevant for purposes of eligibility, participation or vesting (but not the accrual of benefits) under any employee benefit plan, program or arrangement established or maintained by Wave in which Business Employees may participate, such Business Employees shall be credited for service accrued as of the Effective Time with Stone and its Subsidiaries to the extent such service was credited under a similar plan, program or arrangement of Stone.
(c) For purposes of this Section 7.18, a “Business Employee” shall mean an individual who is employed by Stone prior to the Effective Time and who thereafter remains or becomes an employee of Wave or one of its Subsidiaries.
Employment Agreements and Severance Agreements. Newco will assume the obligations under the employment agreements and severance agreements to which Dynegy or Illinova is a party or is otherwise subject, to the extent such agreements are listed on Section 5.11(a) of the Dynegy Disclosure Schedule or Section 6.11(a) of the Illinova Disclosure Schedule.
Employment Agreements and Severance Agreements. Seagull shall assume the obligations under the employment agreements and severance agreements to which OEI is a party or is otherwise subject, to the extent such agreements are listed on Section 4.11 of the OEI Disclosure Schedule.
Employment Agreements and Severance Agreements. The Company and/or TNMP, as the case may be, shall have entered into an Employment Agreement with each of the first four individuals listed in Section 7.02 of the Parent Disclosure Letter, and with not less than one-half of the individuals listed under the caption "Designated Employees" therein, and Parent shall be reasonably satisfied, as of the Closing Date, that the aggregate cash amounts that could become payable (including tax indemnification payments in respect of income and/or excise taxes) to the individuals listed in Section 7.02 of the Parent Disclosure Letter under the Specified Compensation and Benefit Programs of the Company as a result of this Agreement, the negotiation thereof or the consummation of the Merger shall not exceed $4,428,000.
Employment Agreements and Severance Agreements. The Employment Agreement with Xxx Xxxx attached hereto as Exhibit D and the form of Severance Agreement attached hereto as Exhibit E, which the Company or Parent will enter into with each of Xxxxxx Xxxx, Xxxxxx Xxxxxxxxx, Xxxxx Xxxxxx, Xxxxx Xxxxxx, Xxxx Xxxxx, Xxxxx Xxxxx, Mixa Xxxxxx, Xxxxxxx Xxxxxxx, Xxxx Xxxxx, Xxxxx Xxxxxx and Xxxx Xxxxx in the event that the employment of any of them is terminated after the Closing. All documents delivered to the Company shall be in form and substance reasonably satisfactory to Pillsbury Xxxxxxxx Xxxx Xxxxxxx LLP, counsel for the Company.
