Severance/Employment Agreements. Purchaser will honor all of Company's obligations and assume all its defenses under existing severance, change of control or employment agreements to which the Company or any Company Subsidiary is a party and which are listed on Section 5.7.5 of the Company Disclosure Letter in accordance with the terms thereof.
Severance/Employment Agreements. If the Effective Time occurs, Purchaser will honor all of Company’s obligations and assume all its defenses under existing severance, change of control or employment agreements to which Company or any Company Subsidiary is a party and which are listed on Section 5.7.7 of the Company Disclosure Letter in accordance with the terms thereof. Simultaneously with the execution and delivery of this Plan of Merger, Purchaser is entering into a letter agreement with each individual subject to such severance, change of control or employment agreements.
Severance/Employment Agreements. Simultaneously with execution and delivery of this Plan of Merger, ChoiceOne will enter into an agreement with each of the President and the Chief Executive Officer of CBC with respect to obligations under the existing employment agreements listed on the CBC Disclosure Letter.
Severance/Employment Agreements. Except as set forth in Section 6.1.6 of the Total Disclosure Schedule, and except as may be required by applicable Law, neither Total nor any of its Subsidiaries shall take any action with respect to (i) the grant of any severance or termination pay (otherwise than pursuant to written plans or agreements of Total or any of its Subsidiaries in effect on the date hereof and made available to Xxxxxx prior to the date hereof, or past severance practices set forth in Section 6.1.6 of the Total Disclosure Schedule), (ii) any increase of benefits payable under such written plans and agreements providing for severance or termination pay in effect on the date hereof, or (iii) the creation of any employment or consulting agreement or the like, except for new hire employees or consultants in the ordinary and usual course of business consistent with past practice whose annual salary does not exceed $100,000 and whose severance does not exceed six (6) months' base salary.
Severance/Employment Agreements. Except with prior approval of the Integration Committee, and except as may be required by applicable Law, neither Xxxxxx nor any of its Subsidiaries shall take any action with respect to (i) the grant of any severance or termination pay (otherwise than pursuant to written plans or agreements of Xxxxxx or any of its Subsidiaries in effect on the date hereof and made available to Total prior to the date hereof, (ii) any increase of benefits payable under such written plans and agreements providing for severance or termination pay in effect on the date hereof, or (iii) the creation of any employment or consulting agreement or the like, except for new hire employees or consultants in the ordinary and usual course of business consistent with past practice whose annual salary does not exceed $100,000 and whose severance does not exceed six (6) months' base salary.
Severance/Employment Agreements. Except as set forth in Section 6.1.6 of the Total Disclosure Schedule, and except as may be required by applicable Law, neither Total nor any of its Subsidiaries shall take any action with respect to (i) the grant of any severance or termination pay (otherwise than pursuant to written plans or agreements of Total or any of its Subsidiaries in effect on the date hereof and made available to Harris prior to the date hereof, or past severance practices set xxxxx in Section 6.1.6 of the Total Disclosure Schedule), (ii) any increase of benefits payable under such written plans and agreements providing for severance or termination pay in effect on the date hereof, or (iii) the creation of any employment or consulting agreement or the like, except for new hire employees or consultants in the ordinary and usual course of business consistent with past practice whose annual salary does not exceed $100,000 and whose severance does not exceed six (6) months' base salary.
Severance/Employment Agreements. Except with prior approval of the Integration Committee, and except as may be required by applicable Law, neither Harris nor any of its Subsidiaries shall take any action with respect xx (x) the grant of any severance or termination pay (otherwise than pursuant to written plans or agreements of Harris or any of its Subsidiaries in effect on the date hereof and xxxx available to Total prior to the date hereof, (ii) any increase of benefits payable under such written plans and agreements providing for severance or termination pay in effect on the date hereof, or (iii) the creation of any employment or consulting agreement or the like, except for new hire employees or consultants in the ordinary and usual course of business consistent with past practice whose annual salary does not exceed $100,000 and whose severance does not exceed six (6) months' base salary.
