Employees and Directors. 9.1 There are no written or oral contract of employment or engagement with a Director or an employee of the Company or the Subsidiaries (or any contract for services with any Person) which cannot be terminated with 3 (three) months’ notice or less without giving rise to a Claim for damages or compensation.
Employees and Directors. 20.1 The Company does not have, and has never had, any employees other than the Employees.
Employees and Directors. (a) All persons who are employees of the Association or Subsidiaries of Seller, immediately prior to the Effective Time ("Seller's Employees") shall, except persons who resign or are terminated, at the Effective Time, become employees of Purchaser; PROVIDED, HOWEVER, that in no event shall any of Seller's Employees be officers of Purchaser, or have or exercise any power or duty conferred upon such an officer, unless and until duly elected or appointed to such position in accordance with the bylaws of Purchaser. Purchaser shall not have any duty or obligation to continue to employ any of Seller's Employees beyond the Effective Time; PROVIDED, HOWEVER, that Purchaser will use reasonable efforts under the circumstances to place or retain such persons after the Effective Time in positions for which they are qualified.
Employees and Directors. (a) The Company and its Subsidiaries do not have, nor have they ever had, any employees. The Company and its Subsidiaries do not engage the services of, nor have they ever engaged the services of, any consultants, contractors or other such service providers. The Company and its Subsidiaries do not have, nor have they ever had, any Employee Plan.
Employees and Directors. 18.1 Information about the employees
Employees and Directors. None of the Seller's officers shall by virtue of the Merger become officers of the Purchaser or the Purchaser Sub, or have or exercise any power or duty conferred upon such an officer, unless and until duly elected or appointed to such position in accordance with the Bylaws of the Purchaser or the Purchaser Sub, respectively. Neither the Purchaser nor the Purchaser Sub shall have any duty or obligation to continue to employ any of Seller's employees beyond the Effective Date. All of Seller's employees who remain following the Effective Date shall be employed at will. No contractual right to employment shall inure to such employees because of this Agreement.
Employees and Directors. (a) At the Effective Time, all of the Directors of Seller Bank shall resign and shall be replaced by the directors of the Acquisition Corp. Additionally, Mr. Xxxx X. Tierney, Jr. and Mr. Xxxx X. Tomasino shall resign as officers and employees of Seller and Seller Bank. All of Seller Bank's employees, other than as set forth in Section 4.04(a), would remain as employees of Seller Bank; however the Purchaser shall have no duty or obligation to continue the employment of any such employees. No contractual right to employment shall inure to such employees because of this Agreement. No employee of Seller will have any contractual right to employment unless such contract is in writing and executed by the President and Chief Executive Officer of the Purchaser. The Purchaser shall not be liable or have any obligation whatsoever to pay any severance benefits to any of Seller's Employees other than as required by the Broadway National Bank Employee Severance Compensation Plan attached as part of Disclosure Schedule 4.04.
Employees and Directors. The Company has complied in all material respects with all reporting requirements and proper records have been maintained relating to all payments and benefits made or provided or treated as made or provided to its directors shadow directors employees and officers and its former directors shadow directors employees and officers.
Employees and Directors. The Recipient may only disclose Confidential Information to a director, officer or employee who is bound by obligations of confidentiality to the Recipient at least to the extent imposed upon the Recipient by this Agreement.
Employees and Directors. (a) All persons who are employees of the Company Bank or Subsidiaries, immediately prior to the Effective Time (the "Company's Employees") shall, at the Effective Time, become employees of the Purchaser Bank; PROVIDED, HOWEVER, that in no event shall any of the Company's Employees be officers of the Purchaser Bank, or have or exercise any power or duty conferred upon such an officer, unless and until duly elected or appointed to such position in accordance with the bylaws of the Purchaser Bank. The Purchaser Bank shall not have any duty or obligation to continue to employ any of Company's Employees beyond the Effective Time; PROVIDED, HOWEVER, that the Purchaser Bank will use reasonable efforts under the circumstances to place or retain such persons after the Effective Time in positions for which they are qualified.
