Parent Contractor definition
Examples of Parent Contractor in a sentence
Also set forth on Section 3(l)(vii)(A) of the Disclosure Schedule is a true and complete list of all written or oral Seller Contractor Agreements and Parent Contractor Agreements which have one or more continuing obligations as of the date hereof and as of the Closing Date by Seller or Parent.
To the Knowledge of Parent, no employee of Parent or the Parent Subsidiaries or Parent Contractor is in violation of (i) any term of any employment or consulting Contract with Parent or the Parent Subsidiaries or (ii) any term of any other Contract or any restrictive covenant relating to the right of any such employee or Parent Contractor to be employed by or to render services to Parent and the Parent Subsidiaries or to use trade secrets or proprietary information of others.
No Parent Contractor is eligible for payments that would constitute “parachute payments” under Section 280G of the Code.
There are no claims, disputes or controversies pending or, to the Knowledge of Parent, threatened involving any Parent Contractor.
At least 80% of the Priority Service Providers shall have entered into (i) an employment arrangement with Parent pursuant to the execution and delivery of a Parent Offer Letter and a proprietary information and inventions assignment agreement with Parent or (ii) in Parent’s discretion, an independent contractor arrangement with Parent pursuant to the execution and delivery of a Parent Contractor Agreement, in each case on Parent’s standard form.
Except as set forth on the Parent Disclosure Schedule, Parent has no Knowledge that any officer, director, manager, employee or consultant of Parent or its Subsidiaries (collectively, the “Parent Contractors”) intends to terminate his or her employment or other engagement with Parent or any of its Subsidiaries, nor does Parent or any Subsidiary have a present intention to terminate the employment or engagement of any such Parent Contractor.