Common use of Prohibition of Certain Employment Contracts Clause in Contracts

Prohibition of Certain Employment Contracts. Not enter into any contracts of employment which (i) cannot be terminated on notice of 14 days or less without the payment of severance compensation or (ii) provide for any increase in compensation, including, without limitation, any modification of any stock option agreements, outside the ordinary course of business consistent with past practice, or severance payments or benefits covering a period beyond the termination date (other than those which AMCI has previously approved) except as contemplated by this Agreement or as may be required by law;

Appears in 4 contracts

Samples: Agreement and Plan of Reorganization (American Millennium Corp Inc), Agreement and Plan of Reorganization (American Millennium Corp Inc), Agreement and Plan of Reorganization (American Millennium Corp Inc)

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Prohibition of Certain Employment Contracts. Not enter into any contracts of employment which (i) cannot be terminated on notice of 14 days or less without the payment of severance compensation or (ii) provide for any increase in compensation, including, without limitation, any modification of any stock option agreements, outside the ordinary course of business consistent with past practice, or severance payments or benefits covering a period beyond the termination date (other than those which AMCI AIX has previously been approved) except as contemplated by this Agreement or as may be required by law; provided, however, that nothing in this Paragraph shall prohibit ITEQ from entering into an employment agreement with its chief executive officer on substantially the terms previously disclosed in writing to AIX;

Appears in 2 contracts

Samples: Plan and Agreement (Iteq Inc), Plan and Agreement of Merger (Astrotech International Corp /New)

Prohibition of Certain Employment Contracts. Not enter into any contracts of employment or other agreements, which (i) cannot be terminated on notice of 14 days or less without the payment of severance additional compensation or consideration or (ii) provide for any increase in compensation, including, without limitation, any modification of any stock option agreements, outside the ordinary course of business consistent with past practice, or severance payments or benefits covering a period beyond the termination date (other than those which AMCI Real Holdings has previously approved) except as contemplated by this Agreement or as may be required by law;

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Real Software Acquisition Sub 1 Inc), Agreement and Plan of Reorganization (Tava Technologies Inc)

Prohibition of Certain Employment Contracts. Not Except as contemplated by Section 5.2.9, 5.2.9 hereof, not enter into any contracts of employment which that (i) cannot be terminated on notice of 14 days or less without the payment of severance compensation or (ii) provide for any increase in compensation, including, without limitation, any modification of any stock option agreements, outside the ordinary course of business consistent with past practice, or severance payments or benefits covering a period beyond the termination date (other than those which AMCI Striker or Acquisition No. 3 has previously approved) except as contemplated by this Agreement or as may be required by law;

Appears in 1 contract

Samples: Plan and Agreement of Merger (Striker Industries Inc)

Prohibition of Certain Employment Contracts. Not enter into any contracts of employment or other agreements, which (i) cannot be terminated on notice of 14 days or less without the payment of severance additional compensation or (ii) provide for any increase in compensation, including, without limitation, any modification of any stock option agreements, outside the ordinary course of business consistent with past practice, or severance payments or benefits covering a period beyond the termination date (other than those which AMCI Metamor has previously approved) except as contemplated by this Agreement or as may be required by law;

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Metamor Worldwide Inc)

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Prohibition of Certain Employment Contracts. Not enter into any contracts of employment which (i) cannot be terminated on notice of 14 days or less without the payment of severance compensation or (ii) provide for any increase in compensation, including, without limitation, any modification of any stock option agreements, outside the ordinary course of business consistent with past practice, or severance payments or benefits covering a period beyond the termination date (other than those which AMCI BMC has previously approved) except as contemplated by this Agreement or as may be required by law;

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (BMC Software Inc)

Prohibition of Certain Employment Contracts. Not enter into any contracts of employment which (i) cannot be terminated on notice of 14 days or less without the payment of severance compensation or (ii) provide for any increase in compensation, including, without limitation, any modification of any stock option agreements, outside the ordinary course of business consistent with past practice, or severance payments or benefits covering a period beyond the termination date (other than those which AMCI has previously approved) except as contemplated by this Agreement or as may be required by law, provided, however, any severance agreement or payment or any incentive bonus plan entered into prior to the date hereof is subject to approval by BSI;

Appears in 1 contract

Samples: Plan and Agreement of Merger (Sun Sportswear Inc)

Prohibition of Certain Employment Contracts. Not enter into any contracts of employment which (i) cannot be terminated on notice of 14 days or less without the payment of severance compensation or (ii) provide for any increase in compensation, including, without limitation, any modification of any stock option agreements, compensation outside the ordinary course of business consistent with past practice, or severance payments or benefits covering a period beyond the termination date (other than those which AMCI BMC has previously approved) except as contemplated by this Agreement or as may be required by law;

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (BGS Systems Inc)

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