Limitations on Certain Compensation. (a) Beginning on the Effective Date and ending on the date that is one year after the date on which the UST Loans are no longer outstanding, the Borrower shall not pay any of the Borrower’s Corporate Officers or Employees whose Total Compensation exceeded $425,000 in calendar year 2019 or the Subsequent Reference Period (other than an Employee whose compensation is determined through an existing collective bargaining agreement entered into before March 1, 2020):
Appears in 3 contracts
Samples: Credit Agreement (Yellow Corp), Credit Agreement (Yellow Corp), Credit Agreement (YRC Worldwide Inc.)
Limitations on Certain Compensation. (a) Beginning on the Effective Date and ending on the date that is one year after the date on which the UST Loans are Loan is no longer outstanding, the Borrower and its Affiliates shall not pay any of the Borrower’s Corporate Officers or Employees whose Total Compensation exceeded $425,000 in calendar year 2019 or the Subsequent Reference Period (other than an Employee whose compensation is determined through an existing collective bargaining agreement entered into before March 1, 2020):
Appears in 2 contracts
Samples: Term Loan Credit Agreement (YRC Worldwide Inc.), Tranche B Term Loan Credit Agreement (YRC Worldwide Inc.)
