Brooks Sample Clauses

Brooks. Pursuant to thx xxxxxxxxx, Xr. Brooks was appointed initixxxx xx Xxesident of the Company with an initial employment term ending June 15, 2000, with a rolling six month basis thereafter. From January 22, 1999 until June 15, 1999, and then from June 15, 1999 through August 31, 1999, his base salary was $1,000 and $3,417 per month respectively, reflecting his less than full-time commitments to the office during these periods. Effective September 1, 1999 and with his full-time assignment with the Company, his salary increased to $185,000 on an annualized basis. In addition to participation in the Company's group benefit plans and a monthly automobile allowance, Mr. Brooks was given the opporxxxxxx xx purchase for $20,000 a warrant to purchase 3,000,000 shares of the Company's common stock exercisable at $0.30 per share. The warrant, and the underlying common stock, are subject to the Company's repurchase right, which lapses 25% immediately and the remainder annual over the next three years. The base salary for Mr. Brooks was increased to $200,000 xxxective June 15, 2000 and was increased again to $217,000 effective January 1, 2002. The Board can terminate Mr. Brooks' employment without xxxxx xx thirty days' written notice and the payment of base salary for the remainder of the employment term or six months, whichever is greater. SCHEDULE 3.16
Sample 1
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Brooks. PRI is confirmed as the "Parent Successor" to PRI pursuant to the provisions of Article 11 of the Voting and Exchange Trust Agreement, and all references in the Voting and Exchange Trust Agreement to "Parent" shall be deemed to be references to Brooks-PRI. Brooks-PRI hereby accepts and agrees to such suxxxxxxon and confirms and agrees that it shall be subject to and assume all rights, liabilities, covenants and obligations of Parent under the Voting and Exchange Trust Agreement and shall observe and perform all the covenants and obligations of Parent thereunder.
Sample 1
Brooks. PRI has issued to and deposited with the Trustee a special voting share of Brooks-PRI (the "Brooks-PRI Special Voting Share"), which wxx xxxued upon thx xxxxersion of the Voting Share (as defined in the Voting and Exchange Trust Agreement) pursuant to the First Merger. The Trustee acknowledges receipt of such Brooks-PRI Special Voting Share and has surrendered to Brooxx-XXX the certificate formerly representing the Voting Xxxxx of PRI. The parties confirm that the Brooks-PRI Special Voting Share shall be the "Voting Share" for the purposes of the Voting and Exchange Trust Agreement immediately upon execution of this Agreement and acknowledge that the Brooks-PRI Special Voting Share provides that it shall carrx xxxx number of votes in the aggregate as is equal to the number of Exchangeable Shares from time to time outstanding (other than Exchangeable Shares held by Brooks-PRI or an affiliate) multiplied by 0.52, provided thxx xxxctional votes shall be disregarded in the aggregate and in respect of the direction of votes by each registered holder of Exchangeable Shares.
Sample 1
Brooks. PRI is confirmed as the "Parent Successor" to PRI pursuant to the provisions of Article 3 of the Support Agreement, and all references in the Support Agreement to "Parent" shall be deemed to be references to Brooks-PRI. Brooks-PRI hereby accepts and agrees to such suxxxxxxon and xxxxxrms and agrees that it shall be subject to and assume all rights, liabilities, covenants and obligations of Parent under the Support Agreement and shall observe and perform all the covenants and obligations of Parent thereunder.
Sample 1

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