NO EXTRAORDINARY PAYMENTS OR CHANGE IN BENEFITS. Except as disclosed in the Capstar Disclosure Letter or in the Capstar SEC Documents, no current or former director, officer, employee or independent contractor of Capstar or any of its subsidiaries is entitled to receive any payment under any agreement, arrangement or policy (written or oral) relating to employment, severance, change of control, termination, stock options, stock purchases, compensation, deferred compensation, fringe benefits or other employee benefits currently in effect (collectively, the "Capstar Benefit Plans"), nor will any benefit received or to be received by any current or former director, officer, employee or independent contractor of Capstar or any of its subsidiaries under any Capstar Benefit Plan be accelerated or modified, as a result of or in connection with the execution and delivery of, or the consummation of the transactions contemplated by, this Agreement.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Hicks Thomas O), Merger Agreement (Chancellor Media Corp of Los Angeles)
NO EXTRAORDINARY PAYMENTS OR CHANGE IN BENEFITS. Except as disclosed in the Capstar Disclosure Letter, in the supplement to the Capstar Disclosure Letter dated the date hereof or in the Capstar SEC Documents, no current or former director, officer, employee or independent contractor of Capstar or any of its subsidiaries is entitled to receive any payment under any agreement, arrangement or policy (written or oral) relating to employment, severance, change of control, termination, stock options, stock purchases, compensation, deferred compensation, fringe benefits or other employee benefits currently in effect (collectively, the "Capstar Benefit Plans"), nor will any benefit received or to be received by any current or former director, officer, employee or independent contractor of Capstar or any of its subsidiaries under any Capstar Benefit Plan be accelerated or modified, in each case, as a result of or in connection with the execution and delivery of, or the consummation of the transactions contemplated by, this Agreement.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Chancellor Media Corp of Los Angeles), Agreement and Plan of Merger (Capstar Broadcasting Corp)
