Officers Partners Clause Samples

Officers Partners. EMPLOYEES AND COMPENSATION. Schedule 2.2.26 sets forth the name of all directors, partners and officers of AI, their respective terms of office, the total salary, bonus payments, fringe benefits and perquisites each received in each of the last 3 fiscal years ended December 31, 1996, and changes to the foregoing which have occurred since December 31, 1996; such Schedule also lists and describes the current base salary, bonus payments, fringe benefits and perquisites of any other employee, agent or representative of AI whose total current salary, bonus or other compensation exceeds $50,000 annually during any of the last 3 fiscal years ended December 31, 1996, and changes to the foregoing since December 31, 1996. There are no other material forms of compensation paid to any such director, officer or employee of AI. The provisions for wages and salaries accrued on the September 30, 1997 Balance Sheet are adequate for salaries and wages, including accrued vacation pay, for the period up through the date thereof, and AI has accrued on its books and records all obligations for wages and salaries and other compensation to its employees, including, but not limited to, vacation pay and sick pay, and all commissions and other fees payable to agents, salesmen and representatives. AI will file any and all payroll tax returns due through the Closing Date and pay or reserve on the Closing Date Balance Sheet all payroll taxes due for any and all AI employees. Except as set forth on Schedule 2.2.26, AI has not become obligated, directly or indirectly, to any shareholder, director, officer or partner of AI or any member of their families, except for current liability for employment compensation. Except as set forth on Schedule 2.2.26, no shareholder, director, officer, partner, agent or employee of AI holds any position or office with or has any financial interest, direct or indirect, in any supplier, customer or account of, or other outside business which has transactions with AI. AI, nor, any third party, has taken any action with respect to any shareholder, director, officer, partner, employee or representative of AI to attempt to induce or which would influence any such person not to become associated with DAH from and after the Closing Date or from serving DAH in a capacity similar to the capacity presently held. To the best of the knowledge of the Shareholders, no employee of AI has a present intention to leave the employ of AI or has taken any action directed towar...