Employment and Severance Agreements. Except as set forth in the SEC Reports, neither the Company nor any of its Subsidiaries has (i) any written employment contracts or oral employment contracts not terminable at will by the Company or such Subsidiary with any 5% percent shareholder, officer or director of the Company; (ii) any consulting agreement or other compensation agreement with any 5% percent shareholder, officer or director of the Company; or (iii) any agreement or contract with any 5% percent shareholder, officer or director of the Company that will result in the payment by the Company or such Subsidiary or the creation of any commitment or obligation (absolute or contingent), of the Company to pay any severance, termination, “golden parachute,” or similar payment to any present or former personnel of the Company or such Subsidiary following termination of employment. No director, executive officer or other key employee of the Company has advised the Company that he or she intends to resign as director and/or executive officer of the Company or to terminate his or her employment with the Company.
Employment and Severance Agreements. Contingent and effective upon the Closing, the severance agreements and employment agreements, as applicable, between Parent and each of Xxxxx X. Xxxxx and Xxxxx X. Xxxxxxx will have been amended in forms reasonably satisfactory to Parent.
Employment and Severance Agreements. Section 3.16(i) of the Company Disclosure Letter sets forth a complete and accurate list of (i) all employment agreements with employees of the Company or any of its Subsidiaries, other than standard form offer letters and other similar employment agreements entered into in the ordinary course of business and agreements materially consistent with such standard forms; and (ii) all severance agreements, programs and policies of the Company or any of its Subsidiaries with or relating to its Section 16 officers, excluding programs and policies required to be maintained by Law.
Employment and Severance Agreements. Xxxxx Xxxx shall have executed an employment agreement with Harvest, and Xxxxxxx Xxxxxxxxx shall have executed a Severance Agreement with Harvest, the essential and principal terms of each of which are set out and attached hereto as Schedule 1.2.3 and made a part hereof. In addition, Xxxxxxx Xxxxxx shall have executed a Severance Agreement with TRC.
Employment and Severance Agreements. Xxxxxxx X. Xxxxxxxxx shall have entered into an employment agreement and a severance agreement, effective as of the Effective Date, with F&M in substantially the same form and on substantially the same terms as Previously Disclosed by F&M prior to the date hereof.
Employment and Severance Agreements. Middle Bay shall have offered employment in Houston to all current Houston based employees of FOC (other than Xxxx Xxxxx) on terms relating to base salary no less favorable than their current employment terms. In the event any FOC employee (who has been employed by FOC for at least five years as of the Closing Date) is terminated by Middle Bay without cause during the first twelve months of employment by Middle Bay, such employee shall be paid for the balance of the twelve month period. Any FOC employee (who had not been employed by FOC for at least five years as of the Closing Date) who is terminated by Middle Bay without cause during the first six months shall be paid for the balance of the six month period.
Employment and Severance Agreements. Subject to the final review of the Noteholders, the Noteholders hereby agree to approve and support approval by the Bankruptcy Court as part of the Chapter 11 Case, the Employment Agreements and Severance Agreements listed on Schedule 5.6 hereto, as may be modified or amended to reflect the terms of this Agreement.
Employment and Severance Agreements. After the Offeror takes up and pays for Common Shares under the Offer, the Offeror and Offeror's Parent shall cause the Company and any successor of the Company to agree to honour and comply with the terms of all existing employment and severance agreements and policies to which the Company is subject or by which it is bound, as the same may be amended or modified as permitted hereunder. The Company Disclosure Schedule contains a true and complete list of all existing severance agreements and written employment agreements and policies to which the Company is subject or by which it is bound, true and complete copies of which severance agreements and written employment agreements have been provided to Offeror's Parent.
Employment and Severance Agreements. (a) Notwithstanding the provisions of Section 6.1(c), Buyer will provide severance benefits to Current Employees whose employment is terminated within one year after the Closing comparable to those paid in the event of a business restructuring in accordance with the existing Seller severance practice as described in Schedule 6.2 hereto. (b) In addition, Buyer shall provide severance benefits to any Current Employee who terminates his or her employment following a violation by Buyer of Section 6.1(a) or 6.1(b) comparable to those paid in the event of a business restructuring in accordance with the existing Seller severance practice.
Employment and Severance Agreements. Retention Plan; Severance Plans; Change in Control Plan; Bonus Plans.................................................................................. 27 6.06 Expenses..................................................................................... 28 6.07 Sub.......................................................................................... 28 6.08
