Buyout of Employment Agreement Sample Clauses

Buyout of Employment Agreement. Employee was employed by Employer pursuant to a written employment agreement dated December 10, 2004 and amended January 8, 2008 (the "Employment Agreement"). Employer and Employee now mutually agree that for the consideration specified in this Agreement, NutraCea shall buyout the Employment Agreement (except for those provisions expressly excepted herein) effective March 9, 2009 (the "Buyout Date") and Employee shall resign on the Buyout Date. The parties acknowledge that Employee has resigned as a member of Employer's Board of Directors.