Common use of Officers, Directors and Key Employees Clause in Contracts

Officers, Directors and Key Employees. Schedule 3.15 sets forth (a) the name and total direct compensation of each employee, consultant, agent or other representative of Seller whose current or committed annual rate of compensation (including bonuses and commissions) exceeds $25,000, (b) all wage and salary increases, bonuses and increases in any other direct compensation received by or accrued to such persons since December 31, 1995, (c) any payments or commitments to pay any severance or termination pay to any such persons or to any other person, and (d) any accrual for, or any commitment or agreement by Seller to pay, such increases, bonuses or pay. Except as set forth on Schedule 3.15, the employment of all persons presently employed by Seller are terminable at will.

Officers, Directors and Key Employees. Schedule SCHEDULE 3.15 sets forth (a) the name and total direct compensation of each employee, consultant, agent or other representative of Seller whose current or committed annual rate of compensation (including bonuses and commissions) exceeds $25,000, (b) all wage and salary increases, bonuses and increases in any other direct compensation received by or accrued to such persons since December 311, 19951996, (c) any payments or commitments to pay any severance or termination pay to any such persons or to any other person, and (d) any accrual for, or any commitment or agreement by Seller to pay, such increases, bonuses or pay. Except as set forth on Schedule SCHEDULE 3.15, the employment of all persons presently employed by Seller are is terminable at will.