CTT Employee definition
Examples of CTT Employee in a sentence
Each Loan Party or Subsidiary of any Loan Party established or otherwise acquired or created by division after the Effective Date (other than CTT Employee) shall be identified as a QRS Subsidiary or TRS Subsidiary in the applicable Joinder Agreement.
Executive’s employment with CTT Employee, LLC (“CTT Employee”), a Delaware limited liability company and an indirect subsidiary of CatchMark Timber Trust, Inc.
For each calendar year during the Term that Executive is employed by CTT Employee, Executive shall be eligible to earn an annual cash bonus (each, an “Annual Bonus”).
For any such cooperation that occurs after the Date of Termination, CTT Employee shall compensate Executive at a rate of Executive’s Base Salary at the time of termination divided by 2,080 on a per hour basis for services provided, which payments shall be made on a monthly basis, and shall reimburse Executive for any reasonable out-of-pocket expenses incurred in connection with Executive’s performance of obligations under this Section 12 at the request of the Company.
Executive shall not be required to exhaust any remedies against CTT Employee before proceeding against REIT with respect to the payment of any amounts or the performance of any other obligations under this Agreement.
In the event of any contest arising under or in connection with this Agreement, the parties agree that Executive shall not be required to wait until the expiration of the Term to pursue a claim for breach of this Agreement, and if Executive proves such breach, then CTT Employee shall pay Executive damages to which Executive is entitled, including, but not limited to, the Base Salary and other compensation owed to Executive under this Agreement through the end of the Term.
Executive acknowledges and agrees that he has been paid all wages and accrued benefits to which he is entitled through the date of execution of this General Release or that the Company has promised to cause CTT Employee to pay such wages and accrued benefits within thirty (30) days of the Date of Termination.
Upon the terms and subject to the conditions set forth in this Agreement, CTT Employee hereby employs Executive, and Executive hereby accepts such employment, for the term commencing on December 31, 2020, at 5:30 p.m. Eastern time (the “Effective Date”) and, unless otherwise earlier terminated pursuant to Section 5 hereof, ending on December 31, 2023 (the “Term”).
Executive has hereunto signed this Agreement and each of the REIT and CTT Employee have caused their respective duly authorized officers or agents to sign this Agreement, all as of the day and year first above written.
CTT Employee may withhold from any amounts payable under this Agreement such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation.