Employee Compensation Matters Sample Clauses

Employee Compensation Matters. (a) The Company shall cause its board of directors adopt resolutions to terminate each of the Employee Benefit Plans, or the Company’s employer participation in each of the multiple employer Employee Benefit Plans, that are intended to be qualified within the meaning of Sections 401(a) and 401(k) of the Code (collectively, the “401(k) Plan”) with such termination to be effective as of the day immediately prior to the Closing Date, unless Parent provides written notice to the Company no later than three (3) Business Days prior to the Closing Date that one (1) or more of such Employee Benefit Plans shall not be terminated. Such resolutions will be subject to the prior review and approval of Parent, which shall not be unreasonably withheld, conditioned, or delayed. The Company also shall take other actions in furtherance of terminating such Employee Benefit Plans as Parent may reasonably require.

Employee Compensation Matters. 20 5.2. CONDITIONS PRECEDENT TO OBLIGATIONS OF THE SHAREHOLDERS ....... 20 5.2.1. REPRESENTATIONS AND WARRANTIES OF BRAZOS; PERFORMANCE OF OBLIGATIONS ............................ 20 5.2.2. NO INJUNCTION ......................................... 20 5.2.3. OPINION OF BRAZOS' COUNSEL ............................ 20 5.2.4. HART-SCOTT-RODINO, ETC ................................ 21 0.0.0. XXXXXFACTION OR ASSUMPTION OF INDEBTEDNESS AND OTHER OBLIGATIONS ..................................... 21 5.2.6.

Employee Compensation Matters. (a) the Shareholders shall have entered into an agreement regarding the assumption by the Shareholders of existing salary continuation obligations upon the voluntary resignation of certain Morning Sun employees within four months of the Closing Date and (b) except as otherwise mutually agreed by the parties, as of the Closing Date, Solarco shall have outstanding no stock options or warrants to acquire any class of Solarco's capital stock.

Employee Compensation Matters. Seller shall not permit any Ref-Fuel Entity to (i) except as permitted under clause (ii) below, enter into, adopt or amend (except as may be required by applicable Law), or increase the amount or accelerate the payment or vesting of any benefit or amount payable under, any employee benefit plan, or increase, or enter into any contract, agreement, commitment or arrangement to increase, in any manner the compensation or fringe benefits, or otherwise to extend, expand or enhance the engagement, employment or any related rights, of any director, officer or other employee of such Ref-Fuel Entity, except: (A) pursuant to existing contracts, agreements, arrangements, plans, policies or other binding legal commitments, (B) as required by Law, and (C) for normal increases, extensions, expansions, enhancements, amendments or adoptions in the ordinary course of business consistent with past practice that, individually or in the aggregate, do not result in a material increase in benefits or compensation expense to any Ref-Fuel Entity, (ii) enter into or amend any employment, severance or special pay arrangement with respect to any termination of employment or other similar contract, agreement, commitment or arrangement with any employee of any Ref-Fuel Entity other than in the ordinary course of business, including, without limitation, the Existing Employment Contracts, or (iii) terminate the employment of any employee subject to an Existing Employment Contract or listed on Schedule 5.1(d) other than for cause (as defined under the relevant employment contract or, for those employees without an employment contract, as defined under the Existing Employment Contracts).

Employee Compensation Matters. Buyer shall provide to Employees of the Acquired Companies that continue in employment with Buyer or its Affiliates (including the Acquired Companies) after the Closing employee benefits that are similar to those benefits that are provided to similarly situated employees of the Buyer or its Affiliates, until the first (1st) anniversary of the Closing Date.