Changes in remuneration. 6.3.1 During the period to which the Principal Accounts relate and since the Last Accounts Date or (where employment or holding of office commenced after the beginning of such period) since the commencing date of the employment or holding of office: (a) no change has been made in the rate of remuneration, emoluments or pension benefits, of any officer, ex-officer or senior executive of any Group Company (a senior executive being a person in receipt of remuneration in excess of L25,000 per annum); (b) no change has been made in any other terms of employment of any officer or senior executive. 6.3.2 No Group Company is bound or accustomed to pay any moneys other than in respect of remuneration or pension benefits to or for the benefit of any officer or employee of any Group Company. 6.3.3 No negotiations for any increase in the remuneration or benefits of any officer or employee of any Group Company are current or likely to take place within six months after the date of Completion.
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Sources: Share Purchase Agreement (Microtel International Inc)
Changes in remuneration. 6.3.1 During the period to which the Principal Accounts relate and since the Last Accounts Date or (where employment or holding of office commenced after the beginning of such period) since the commencing date of the employment or holding of office:
(a) no change has been made in the rate of remuneration, emoluments or pension benefits, of any officer, ex-officer or senior executive of any Group Company (a senior executive being a person in receipt of remuneration in excess of L25,000 (pound)25,000 per annum);
(b) no change has been made in any other terms of employment of any officer or senior executive.
6.3.2 No Group Company is bound or accustomed to pay any moneys other than in respect of remuneration or pension benefits to or for the benefit of any officer or employee of any Group Company.
6.3.3 No negotiations for any increase in the remuneration or benefits of any officer or employee of any Group Company are current or likely to take place within six months after the date of Completion.
Appears in 1 contract
Sources: Share Acquisition Agreement (Production Group International Inc)