Key Man. A “Key Man” is any employee who is regularly and customarily employed by the Employer, and who has been so employed within the past six (6) months, and who, because of the special knowledge, skill and experience regarding the Employer’s operations, is considered necessary by the Employer to the efficient performance of work to be performed under this Agreement. The first Laborer employed shall be a “Key Man”. The second laborer employed shall be the Xxxxxxx, only if the Business Manager has appointed a Xxxxxxx. Thereafter, the contractor may fill every fourth Laborer position with a “key man” without regard to the procedures set forth in Section 3 below.
Key Man. The Chairman shall be terminated or resign as an officer and employee of the Parent or shall die or be incapable of performing his usual responsibilities as an officer or employee by reason of illness, disease or other disability for 30 days or more; or
Key Man. (This provision has been approved by the Compensation Committee of the Board of Directors.) In the event that during the Term of this Agreement the circumstance arises that the Employee does not report directly to Xxxxx Xxxx, Xxxx Xxxx, or Xxxxxxx Xxxx, Employee may terminate this Agreement, in writing, but in no event later than 90 days after such circumstance occurs. Compensation as a result of a Termination under this provision shall be treated the same as if the Employee had terminated for Good Cause (See Section 8(e), below).
Key Man. Each Employer, with more than five (5) full time covered employees, shall designate at least one key person for the shop. Key persons shall be paid a minimum of Fifty Cents ($.50) per hour above journeyman rate.
Key Man. Bxxxx X. Xxxxx
Key Man. Xxxxxxx Xxxxx shall beneficially own, directly or indirectly, a majority of the outstanding membership and other equity interests of Purchaser. Xxxxxxx Xxxxx shall not have died or become permanently disabled.
Key Man. The death or incapacitation of the primary shareholder of Foretold, LLC, Xxxxxx Xxxxxxx (the “key man”) will result in the proportional (ROC) return of capital remaining in this and all other Royalty Fee Agreements in this funding round. Upon success of this funding round, life insurance will be secured on the Key Man, Xxxxxx Xxxxxxx, to match the total capital invested through all Royalty Fee Agreements. This policy will be maintained for 24 months or until the fulfillment of this Agreement to insure the Loan Investors will be returned their original capital investment upon the death of the Key Man.
Key Man. Xxxx Xxxx shall continue to serve as the Company’s Chief Executive Officer unless Xx. Xxxx shall have ceased to serve as the Company’s Chief Executive Officer due to death or Disability (as defined in Section 22(e)(3) of the Code) or, to the extent Xx. Xxxx is not the Company’s Chief Executive Officer, any such new Chief Executive Officer shall have been approved by (i) the Purchasers holding at least 50% in principal amount of all then outstanding Tranche I Notes and Tranche II Notes, and (ii) Temasek.”
Key Man clauses: The shareholders’ agreement shall include key man clauses defining good and bad leaver scenarios according to which the departure of any key man under certain circumstances may trigger that shares and options owned by such key man are transferred to the other Shareholders. If so required by the other Parties the bad leavers will be subject to an obligation to sell shares at a price of not more than [percentage] of the market value, as determined by independent valuators, provided that the bad leaver and the other Parties cannot agree on a price for the bad leaver’s shares.
Key Man. The key man on any project or job shall be determined in a pre-job conference or agreement between the contractor and business representative of the Union. In the event that an out of town contractor is paying any Laborer(s) a higher wage/fringe benefit package than set forth in Laborers’ Local 751’s Heavy/Highway Agreements, that contractor shall pay the higher wage/fringe packages to all other Laborers working on their projects in Laborers’ Local 751’s jurisdiction. This will be done by increasing the hourly wage of these Laborers. Employers who have maintained their main construction yard and office in Laborers’ Local 751 jurisdiction are exempt from this paragraph.
