Support Payment. In the event that any participant in the MEGA Plan declines to exchange such participant's rights therein for options for Newco Common Stock issued pursuant to the New MEGA Plan, and, thereafter, such participant becomes entitled to any payment as a result of participation in the MEGA Plan, the Loomis Stockholders Trust shall promptly pay to such participant the amount of any such payment to which such participant would otherwise be entitled from Loomis and will indemnify and hold Newco harmless from any and all claims, damages or losses in respect of such nonexchanged MEGA Plan units.
Appears in 1 contract
Support Payment. In the event that any participant in the --------------- MEGA Plan declines to exchange such participant's rights therein for options for Newco Common Stock issued pursuant to the New MEGA Plan, and, thereafter, such participant becomes entitled to any payment as a result of participation in the MEGA Plan, the Loomis Stockholders Trust shall promptly pay to such participant the amount of any such payment to which such participant would otherwise be entitled from Loomis and will indemnify and hold Newco harmless from any and all claims, damages or losses in respect of such nonexchanged MEGA Plan units.
Appears in 1 contract