Certain Employee Payments. None of the Company Subs is a party to any employment agreement which could result in the payment to any current, former or future director or employee of Company Subs of any money or other property or rights or accelerate or provide any other rights or benefits to any such employee or director as a result of the transactions contemplated by this Agreement, whether or not (i) such payment, acceleration or provision would constitute a “parachute payment” (within the meaning of Section 280G of the Code), or (ii) some other subsequent action or event would be required to cause such payment, acceleration or provision to be triggered.
Appears in 4 contracts
Samples: Agreement and Plan of Merger (Designer Export, Inc), Agreement and Plan of Merger (NB Telecom, Inc.), Agreement and Plan of Merger (China Executive Education Corp)
Certain Employee Payments. None of the Company Subs is a party to any employment agreement which could result in the payment to any current, former or future director or employee of Company Subs of any money or other property or rights or accelerate or provide any other rights or benefits to any such employee or director as a result of the transactions contemplated by this Agreement, whether or not (i) such payment, acceleration or provision would constitute a “"parachute payment” " (within the meaning of Section 280G of the Code), or (ii) some other subsequent action or event would be required to cause such payment, acceleration or provision to be triggered.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Navstar Media Holdings, Inc.), Stock Purchase Agreement (Rub a Dub Soap Inc)
