OTHER AGREEMENTS EXECUTED. The employment agreements required by Section 1.4(a) shall have been executed and delivered or, in the case of certain physician employees, assigned in accordance with Section 1.4, and each of New York NewCo and New Jersey NewCo shall have executed and delivered the respective MSA with PSC Management and Parent; provided that notwithstanding the foregoing, each of the seven associate physicians at the Practices shall have either (1) been admitted as a partner of New York NewCo, (2) signed a new employment agreement with New York NewCo in accordance with the New York MSA, or (3) consented in writing to assignment of his existing employment agreement to New York NewCo.
Appears in 1 contract
Sources: Stock Purchase Agreement (Physicians Specialty Corp)
OTHER AGREEMENTS EXECUTED. The employment agreements required by Section 1.4(a) shall have been executed and delivered or, in the case of certain physician employees, assigned in accordance with Section 1.4, and each of New York NewCo and New Jersey NewCo shall have executed and delivered the respective MSA with PSC Management and Parent; provided that notwithstanding the foregoing, each of the seven ten associate physicians at the Practices shall have either (1) been admitted as a partner of New York NewCo, (2) signed a new employment agreement with New York NewCo in accordance with the New York MSA, or (3) consented in writing to assignment of his existing employment agreement to New York NewCo.
Appears in 1 contract
Sources: Stock Purchase Agreement (Physicians Speciality Corp)