Executive Arrangements Clause Samples
The Executive Arrangements clause outlines the terms and conditions governing the employment relationship between an executive and the company. It typically addresses matters such as the executive's duties, reporting structure, compensation, benefits, and any special arrangements like relocation or signing bonuses. By clearly defining these aspects, the clause ensures both parties have a mutual understanding of expectations and obligations, thereby reducing the risk of disputes and promoting a smooth working relationship.
Executive Arrangements. Executive arrangements will be set forth in the Company Disclosure Schedules and must include the arrangement for the CEO, R▇▇▇▇▇ ▇▇▇▇▇.
Executive Arrangements. Following the Effective Time, Parent shall cause the Surviving Corporation to perform its payment obligations to the individuals and in the amounts set forth in Section 5.14 of the Company Disclosure Letter pursuant to the terms of the executive arrangements with such individuals.
Executive Arrangements. Schedule 7.2 sets forth the arrangements (the "Executive Arrangements") between the Del Monte Group and certain executives and employees of the Del Monte Group with respect to a sale of DMFC, true and complete copies of which have been made available to Purchasers.
(a) Purchasers shall cause each member of the Del Monte Group to satisfy all of its obligations under each agreement set forth on Schedule 7.2(a). If there is any conflict between the summary of any such agreement set forth on such schedule and the terms of the agreement, the terms of the agreement shall in all cases govern.
(b) Purchasers shall cause the Company to pay, on the Closing Date, the amounts described in Schedule 7.2(b) to the persons indicated thereon, subject to applicable withholding taxes. Such payment shall also be subject to (i) the approval of such payments by the shareholders of DMFC for purposes of Section 280G of the Code and (ii) receipt by the Company of a receipt from each such person acknowledging that the indicated payment is in full satisfaction of the Company's obligations with respect to the New Management Equity Plan.
(c) Purchasers shall cause the Company to pay, on the Closing Date, the amounts described in Schedule 7.2(c) to the persons indicated thereon, subject to applicable withholding taxes and to receipt by the Company of a receipt from each such person acknowledging that the indicated payment is in full satisfaction of the Company's obligations with respect to the 1995 Management Equity Plan.
(d) Purchasers shall cause the bonus pool under the Annual Incentive Award Plan ("AIPA") with respect to the performance period ending on June 30, 1997 to equal at least $2,525,100. Bonuses shall be paid pursuant to and in accordance with the terms of such Plan not later than July 31, 1997. Any participant who is involuntarily terminated without cause on or before July 31, 1997 shall be paid a pro-rata share of the participant's AIAP target with consideration given for performance factors.
(e) Purchasers shall cause the Company to pay, on the Closing Date, the amounts described in Schedule 7.2(e) to the persons indicated thereon, subject to applicable withholding taxes and to receipt by the Company of a receipt from each such person acknowledging that the indicated payment is in full satisfaction of the Company's obligations with respect to the Long Term Incentive Plan.
Executive Arrangements. Following the Separation Date, Root will receive the distribution of his SERP/Deferred Compensation account in accordance with the terms of the SERP/Deferred Compensation Plan. Since his employment is terminating before age 59, under the terms of the SERP/Deferred Compensation Plan his account will be paid in a lump sum in the seventh month after the month that includes the Separation Date (i.e., July 2010 if the Separation Date is December 31, 2009).