Shareholder Employment Agreements. Buyer and each of the Shareholders agree on the Closing Date to enter into the respective Shareholder Employment Agreements.
Shareholder Employment Agreements. Employment Agreements between Surviving Corporation, as Employer, and each of the Shareholders, respectively, as Employee, in form and substance as set forth in Schedule 6.8 attached hereto, shall have been duly executed by each of them and delivered to Parent.
Shareholder Employment Agreements. Each Shareholder shall have executed and delivered to Buyer a Shareholder Employment Agreement.
Shareholder Employment Agreements. An Employment Agreement between the Surviving Corporation, as the employer, and the Seller, as the employee in form and substance as set forth in Exhibit 10.8 attached hereto, shall have been duly executed by the Seller and delivered to Buyer. 10.9
Shareholder Employment Agreements. Employment Agreements substantially in the form of Exhibit D with Xxxxxx Xxxxxxxxxx and Xxxxx Xxxxxxxxxx (the “Employment Agreements”).
Shareholder Employment Agreements. Purchaser shall have entered into an employment agreement with Xxxxxx Xxxxxxxxx in substantially the form attached hereto as Exhibit 4.2(f) and providing for the services to be performed principally at Gaithersburg, Maryland and for compensation of not less than $125,000 per year.
Shareholder Employment Agreements. The Shareholders and Sellers shall deliver and cause to be delivered to the Buyer at the Closing Time executed Employment Agreements with Xxxxxxx X. Xxxxxx and Dhitipun Penvari (the "Shareholders") in the form of Employment Agreement annexed hereto as EXHIBIT A. As consideration for these Employment Agreements, Shareholders and Sellers agree that each party will not compete or participate, whether as an owner, shareholder, partner, consultant, entrepreneur, employee, or otherwise, or knowingly cause or enable any other person or entity to compete, in any business related to the Business currently operated by Sellers or the post-acquisition business of Buyer within any area where Buyer is operating its business or plan to operate, for a period of two (2) years from the last date of employment. Notwithstanding the above, Buyer acknowledges and agrees that there are certain customers of the prior business of Sellers ("IMark customers") for which Sellers and prior employees of Sellers may continue to provide services on weekends to complete prior Seller obligations. The identity of these IMark customers is clearly indicated on SCHEDULE 5.13.
Shareholder Employment Agreements. Buyer shall offer employment agreements to Xxxxxxx X. Xxxxxx and Dhitipun Penvari (the "Shareholders") in the form of the Employment Agreement annexed hereto as EXHIBIT A. Under the terms of the Employment Agreements, the Shareholders will become employees of Buyer, effective the Closing Date, and will receive compensation of at least $5,000 per month during the term of their employment. Under the terms of the Employment Agreements, the Shareholders will receive an aggregate total of 450,000 options. Of these options, 300,000 will vest at an equal calendar quarterly rates over a four-year period beginning one year and ending five years from the date of this Agreement. The remaining 150,000 options will vest at an equal quarterly rates over the period beginning ninety (90) days and ending two years from the date of this Agreement. All options will expire on the date which is five years and thirty days after the date of grant. Buyer agrees to register the common stock underlying the Shareholder options on its next Form S-8 to be filed with the SEC. In consideration for these Employment Agreements, Shareholders agree that each party will not compete or participate, whether as an owner, shareholder, partner, consultant, entrepreneur, employee, or otherwise, or knowingly cause or enable any other person or entity to compete, in any business related to the Business currently operated by Sellers or the post-acquisition business of Buyer within any area in the United States where Buyer is operating its business or plans to operate, for a period of two (2) years from the last date of employment. Notwithstanding the above, Buyer acknowledges and agrees that there are certain customers of the prior business of Sellers ("IMark customers") for which Sellers and prior employees of Sellers may continue to provide services on weekends to complete prior Seller obligations. The identity of these IMark customers is clearly indicated on SCHEDULE 5.13.
Shareholder Employment Agreements. Purchaser shall have entered into an employment agreement with Xxxxxx Xxxxxx in substantially the form attached hereto as Exhibit 4.2(f) and providing for the services to be performed principally at Houston, Texas and for compensation of not less than $125,000 per year.
Shareholder Employment Agreements. Each of the Shareholders has an employment agreement with Janus Cam dated as of July 1, 2013 (the “Employment Agreements”). On October 6, 2014, the Company temporarily suspended payment of salary to the Shareholders under the Employment Agreements pursuant to Section 6.01(b) due to financial hardship stemming from Janus Cam’s failure to pay payroll tax liabilities. In connection with this Agreement, the Parties acknowledge and agree that (1) no accrued payroll is owed to Shareholders, (2) the suspension of the salary payments will continue through Closing, and (3) at Closing the Employment Agreements will be terminated and released as with all other obligations by and between the Shareholders, Janus Cam and the Company as provided herein. Notwithstanding the foregoing, the Parties agree that during the period prior to Closing, Janus Cam can advance personal loans to the Shareholders not to exceed their previous net salary as provided in the Employment Agreements. In the event any funds are advanced to Shareholders by the Company, whether directly or indirectly, the total amount of such funds shall be considered Inter-Company Debt and will be deducted from the aggregate $300,000 Inter-Company Debt advanced by the Company as set forth in this Agreement.
