Termination of Employment Agreements Sample Clauses
Termination of Employment Agreements. Any and all Employment Agreements entered into between the Company or any of its Subsidiaries and the Executive prior to the date of this Agreement are hereby terminated.
Termination of Employment Agreements. The parties hereby agree that any and all prior employment agreements between Executive and the Company are hereby terminated as of the date hereof, and any and all such agreements shall be of no further force and effect from and after the date hereof and the parties shall be released from any further obligations thereunder. The foregoing, however, shall not be deemed to abrogate or otherwise affect any of Executive’s obligations under the Company’s Code of Conduct as heretofore or hereafter in effect or any other restrictive covenant binding upon Executive.
Termination of Employment Agreements. Each Shareholder agrees that any employment or management agreement to which he, she or it is a party with the Company is hereby terminated effective at the Closing, and the Company will have no liability or obligation thereunder of any nature or kind from and after the Closing Date.
Termination of Employment Agreements. The Company shall have terminated without liability, expense or obligation to Company or any Subsidiary (and no payments shall be required to be made by the Surviving Corporation or any Subsidiary from and after the Closing Date in respect of) any employment agreements the terms of which are not specifically provided for in this Agreement, and neither Company nor any subsidiary shall be liable for any payment in respect of any agreement as a result of a change in control of Company (whether or not in conjunction with any other event or events).
Termination of Employment Agreements. With respect to any Transferred Employee who is a party to an employment agreement with the HIG Group (each agreement and “Employment Agreement”), each Purchasing Insurer shall use commercially reasonable efforts to obtain, on or prior to the Transfer Date, the consent of such Transferred Employee to the termination of such Employment Agreement. On and after the Closing Date, CPRE shall cause each member of the HIG Group to release such Transferred Employees from any restrictive covenant in any employment agreement that would impede, directly or indirectly, such Transferred Employee, from accepting the Offer of Employment. Each Purchasing Insurer shall be responsible for any and all Liabilities with respect to, in connection with, or arising out of the termination of any Employment Agreement between a member of the HIG Group and any member of the Employee Group.
Termination of Employment Agreements. The Company shall have provided evidence satisfactory to Buyer of the complete termination, without liability to the Company, of all employment agreements in existence prior to the Closing among the Company, on the one hand, and Millxx xx any other employees of the Company, on the other (other than any non-compete and non-disclosure agreements referenced in SECTION 2.1(g)).
Termination of Employment Agreements. Each agreement between the Company and its employees shall have been terminated pursuant to a written agreement of termination reasonably satisfactory to Parent, which agreement of termination shall provide that the transactions contemplated by this Agreement shall not trigger any rights or benefits or the acceleration of any rights or benefits under the terminated agreement.
Termination of Employment Agreements. All employment agreements between the Company and any other person shall have been terminated as contemplated in Section 5.11. (n)
Termination of Employment Agreements. (i) as of the date of this Agreement, Xxx Xxxxx shall have (A) acknowledged and agreed to the termination of his PC Bancorp and PCB Employment Agreement and his employment by CU Bancorp and/or CUB immediately following the Effective Time, (B) acknowledged and agreed to the amount of benefits due thereunder and under any other agreements with PC Bancorp or PCB, and (C) entered into, executed, and delivered to PC Bancorp and CUB agreements, including general releases of PCB, PC Bancorp, CU Bancorp, CUB and their Affiliates, directors, agents, representatives and attorneys with respect to the termination of his employment and all benefits and compensation to be paid to him by the parties hereto now or in the future, and non-solicitation and non-competition agreements, all satisfactory to CUB and CU Bancorp, in their sole discretion, as of the date of this Agreement which agreements shall not have been revoked, rescinded or amended without CU Bancorp’s and CUB’s prior written approval, in their sole discretion; and (ii) as of the date of this Agreement, Xxxxxxx Xxxxxxxx shall have (A) acknowledged and agreed to the termination of his Employment Agreement immediately following the Effective Time as well as the compensation due him under the Employment Agreement and any other agreements between Xx. Xxxxxxxx and PCB or PC Bancorp and (B) entered into, executed and delivered the Consulting Agreement (as defined below) to be effective as of the Effective Time which agreements shall not have been revoked, rescinded or amended without CU Bancorp’s and CUB’s prior written approval, in their sole discretion.
Termination of Employment Agreements. The current employment agreements between MDC, on the one hand, and Donaxx xxx Irmgxxx, xx the other hand, shall have been terminated effective as of the Closing Date.