Retention of Senior Management Sample Clauses

Retention of Senior Management. Buyer agrees that it shall not, prior to the Earnout Closing Date, dismiss any of the Key Management Employees without Cause and that any such dismissal without Cause will accelerate the Earnout Closing as set forth in Section 2.4 hereof.
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Retention of Senior Management. Buyer agrees that it shall not, prior to the Earnout Closing Date, dismiss Protected Management without Cause and that any such dismissal will trigger the procedures set forth in Section 2.6 hereof.
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Retention of Senior Management. Borrower shall at all times cause the Retention Agreements to be in full force and effect with respect to Byxxx X. Xxxx, Joxxxx X. Xxxxx xnd Frxxxxx X. Xxxx (or any replacement to any of the foregoing individuals so long as such replacements are reasonably acceptable to the Requisite Restructuring Lenders and are subject to a retention agreement acceptable to the Requisite Restructuring Lenders). Each of the Restructuring Lenders acknowledges that it has reviewed the Retention Agreement and agrees to the terms and conditions thereof. Each Restructuring Lender authorizes the Collateral Agent to acknowledge and agree to the terms of the Retention Agreement on its behalf and in so doing each Restructuring Lender agrees that the signature of the Collateral Agent on its behalf shall be as if such Restructuring Lender were an original signatory thereto.
Sample 1
Retention of Senior Management. The Steering Committee Lenders support the retention of the following executives (“Management”): (i) Xxxx Xxxxxxx, President and Chief Executive Officer; (ii) Xxxxxxx X. Speed, Executive Vice President and Chief Financial Officer; (iii) Louis Koskovolis, Executive Vice President, Corporate Alliances-Sponsorship; (iv) Xxxx Xxxxxxx, Executive Vice President, Park Strategy and Management; (v) Xxxxxx X. Xxxxxxxxx, Executive Vice President, Strategic Development and In-Park Services; (vi) Xxxxxxx Xxxxxxxx, Executive Vice President, Entertainment and Marketing and (vii) Xxxxx Xxxxxxxx, General Counsel. All existing executive employment agreements for Management will be assumed in accordance with their terms; provided that any provisions in such employment agreements providing for Old Interests in SFI shall not be assumed and shall be treated under Section 4(d)(iv) above; provided further that the provisions regarding a change of control in Xx. Xxxxxxx’x employment agreement shall be clarified so as to (i) exclude from the definition of “Change in Control”: (a) the Chapter 11 cases and the occurrence of the Effective Date and (b) the replacement of any current directors with directors appointed by the Steering Committee Lenders, (ii) modify the definition of “Significant Change in Board Composition” so that it is triggered only by the failure of more than one of Xxxx Xxxxxxx, Xxxxxx X. Xxxxxx, Xxxx Xxxxxxxx and Xxxxxx Xxxxx, or their respective successors, to be a “Continuing Director” and (iii) exclude the Lenders from the definition of “person” to the extent that the Lenders, as a collective, could be deemed to be acting as a “group” for the purposes of the Securities Exchange Act of 1934; provided further that cash severance for Xx. Xxxxxxx shall be limited to three years base salary plus bonus.
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Related to Retention of Senior Management

  • Retention of Seniority (a) Any employee, other than a probationary employee, whose employment ceases through no fault of his own, shall retain seniority and shall be recalled on the following basis:

  • Acquisition of Seniority An employee shall not acquire seniority until such time as he or she has successfully completed the probationary period provided for in the present Collective Agreement.

  • EVALUATION OF EMPLOYEES Section 1. Performance evaluations are designed to serve the needs of both the employee and Employer. An organized program for employee performance evaluation will:

  • Compensation of Employees Compensate its employees for services rendered at an hourly rate at least equal to the minimum hourly rate prescribed by any applicable federal or state law or regulation.

  • Termination of Seniority Seniority shall terminate when the employee:

  • Responsibility of Dual Directors, Officers and/or Employees If any person who is a manager, partner, officer or employee of the Adviser or the Administrator is or becomes a director, officer and/or employee of the Company and acts as such in any business of the Company, then such manager, partner, officer and/or employee of the Adviser or the Administrator shall be deemed to be acting in such capacity solely for the Company, and not as a manager, partner, officer or employee of the Adviser or the Administrator or under the control or direction of the Adviser or the Administrator, even if paid by the Adviser or the Administrator.

  • RETENTION OF ULTIMUS The Trust hereby retains Ultimus to act as the fund accountant of the Trust and to furnish the Trust with the services as set forth below. Ultimus hereby accepts such employment to perform such duties.

  • Supplemental Executive Retirement Plan The Executive shall participate in the Company's Unfunded Pension Plan for Selected Executives (the "SERP").

  • Transition of Services Upon request by the State prior to expiration or earlier termination of this Contract or any Services provided in this Contract, Contractor shall provide reasonable and necessary assistance to accomplish a complete transition of the Services from Contractor to the State or any replacement provider designated solely by the State without any interruption of or adverse impact on the Services. Contractor shall cooperate fully with the State or any successor provider and shall promptly take all steps required to assist in effecting a complete transition of the Services designated by the State. All services related to such transition shall be performed at no additional cost beyond what would be paid for the Services in this Contract.

  • Reporting Subawards and Executive Compensation a. Reporting of first-tier subawards.

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