Section 11e. Section 11(E) of the Employment Agreement shall be deleted in its entirety and replaced with the following: All payments and benefits set forth in Sections 11(B)-(D) are contingent on Executive’s execution (without revocation) of a separation agreement that is in a form acceptable to the Company and contains a full waiver and release of claims against the Company (the “Release”), within twenty-one (21) days of the date of the Executive’s termination of employment (on which date the separation agreement will be provided to the Executive). The payments and benefits set forth in Sections 11(B)-(D) shall commence on the 30th day following the Executive’s termination of employment, subject to the receipt of the Release and the expiration of any applicable revocation period as of such date.
Section 11e. Section 11.e. of the Loan Agreement is deleted in its entirety and replaced with the following: ''e. Receipt of evidence indicating that Lender's security interest i s not prior to all other security interests, or if a security interest in or other encumbrance on any of the Collateral, other than Permitted Liens, is granted by Borrower, or any tax lien is filed against Borrower."
Section 11e. Section 11.e. of the Loan Agreement is deleted in its entirety and replaced with the following:
Section 11e. Amend Section 11E by replacing the existing language with the following: “No managerial employee, as defined by the Massachusetts Public Employee Collective Bargaining Law (Chapter 150E), who is excluded from the terms of this Agreement, shall perform the work of any employee covered by this Agreement, except in the case of an emergency, excessive absence of employees from work, lack of an adequate number of employees, to review, and/or evaluate employees’ work, or for the purpose of providing instruction or training of employees.”
