Termination of Employee Plans. At the Closing, the Company shall terminate the Company Stock Option Plans and all other employee benefit plans of the Company.
Appears in 2 contracts
Samples: Escrow Agreement (Egain Communications Corp), Escrow Agreement (Copper Mountain Networks Inc)
Termination of Employee Plans. At the Closing, the Company shall terminate its existing stock option plans, and shall ensure that no employee or former employee of the Company Stock Option Plans has any rights under any of such plans and all other employee benefit that any liabilities of the Company under such plans of (including any such liabilities relating to services performed prior to the Closing) are fully extinguished at no material cost to the Company.
Appears in 2 contracts
Samples: Share Purchase Agreement (Terayon Communication Systems), Share Purchase Agreement (Terayon Communication Systems)
Termination of Employee Plans. At the Closing, the Company shall terminate the Company Stock Option Plans and all other Plans. For each such plan that is terminated, the Company shall take reasonable steps to ensure that no employee benefit plans or former employee of the CompanyCompany has any rights under any of such plans and that any liabilities of the Company under such plans (including any such liabilities relating to services performed prior to the Closing) are fully extinguished.
Appears in 1 contract
Samples: Agreement and Plan of Merger and Reorganization (MIGENIX Inc.)
Termination of Employee Plans. At the Closing, the Company shall terminate its Stock Option Plan, and shall ensure that no employee or former employee of the Company Stock Option Plans has any rights under such Plan and all other employee benefit plans that any liabilities of the Company under such Plan (including any such liabilities relating to services performed prior to the Closing) are fully extinguished at no cost to the Company.
Appears in 1 contract
Samples: Agreement and Plan of Merger and Reorganization (Women Com Networks Inc)
