The Original. Employment Agreement and Employee's employment pursuant thereto are hereby terminated, without any further action by any of the parties, effective upon the consummation of the initial public offering of common stock, $.0001 par value, of Advanced Communications Group, Inc. (the "Offering"). The parties acknowledge that Employee shall not be entitled to any compensation or benefits whatsoever as a result of his termination other than payment of his salary of $1,000 per month accrued through the date of termination. Accordingly, the parties agree that upon such termination, Employee shall be deemed to have released and waived all his claims, contingent or matured, known or unknown against Acquisition Subsidiary or Corp. under the Original Employment Agreement, except for any claims for unpaid salary accrued prior to the termination of the Original Employment Agreement and his employment.
Appears in 1 contract
Sources: Employment Agreement (Advanced Communications Group Inc/De/)
The Original. Employment Agreement and Employee's employment pursuant thereto are hereby terminated, without any further action by any of the parties, effective upon the consummation of the initial public offering of common stock, $.0001 par value, of Advanced Communications Group, Inc. (the "Offering"). The parties acknowledge agree that Employee shall not be entitled to any compensation or benefits whatsoever as a result of his termination other than payment of his salary of $1,000 per month accrued through the date of termination. Accordingly, the parties agree that upon such termination, Employee shall be deemed to have released and waived all his claims, contingent or matured, known or unknown against Acquisition Subsidiary or Corp. under the Original Employment Agreement, except for any claims for unpaid salary accrued prior to the termination of the Original Employment Agreement and his employment.
Appears in 1 contract
Sources: Agreement and Plan of Exchange (Advanced Communications Group Inc/De/)