Common use of Certain Employee Matters Clause in Contracts

Certain Employee Matters. Except as set forth on Schedule 4.2(h) of the Holdings Letter, Holdings shall not : (i) grant any increases in the compensation of any of its directors, officers or employees, except increases in the ordinary course of business and in accordance with past practice; (ii) pay or agree to pay any pension, retirement allowance or other employee benefit not required or contemplated by any of the existing Holdings Benefit Programs or Holdings Plans as in effect on the date hereof to any such director, officer or employee, whether past or present; (iii) enter into any new, or amend any existing, employment or severance or termination agreement with any such director, officer or key employee; or (iv) become obligated under any new Holdings Benefit Program or Holdings Plan, which was not in existence or approved by the Board of Directors of Holdings prior to or on the date hereof, or amend any such plan or arrangement in existence on the date hereof if such amendment would have the effect of materially enhancing or accelerating any benefits thereunder.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Lab Holdings Inc)

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Certain Employee Matters. Except as set forth on Schedule 4.2(h4.1(h) of the Holdings LabOne Letter, Holdings LabOne shall not and it shall not permit any of its Subsidiaries to: (i) grant any increases in the compensation of any of its directors, officers or employees, except increases in the ordinary course of business and in accordance with past practice; (ii) pay 44 or agree to pay any pension, retirement allowance or other employee benefit not required or contemplated by any of the existing Holdings LabOne Benefit Programs or Holdings LabOne Plans as in effect on the date hereof to any such director, officer or employee, whether past or present; (iii) enter into any new, or amend any existing, employment or severance or termination agreement with any such director, officer or key employee; or (iv) become obligated under any new Holdings LabOne Benefit Program or Holdings LabOne Plan, which was not in existence or approved by the Board of Directors of Holdings LabOne prior to or on the date hereof, or amend any such plan or arrangement in existence on the date hereof if such amendment would have the effect of materially enhancing or accelerating any benefits thereunder.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Lab Holdings Inc)

Certain Employee Matters. Except as set forth on Schedule 4.2(h) required or permitted under the CIC Agreements, DSLT will not and it will not permit any of the Holdings Letter, Holdings shall not its Subsidiaries to: (i) grant any increases in the compensation of any of its directors, officers or employees, except increases in the ordinary course of business and in accordance with past practice; (ii) pay or agree to pay any pension, retirement allowance or other employee benefit not required or contemplated by any of the existing Holdings Benefit Programs Plans or Holdings Plans employment policies as in effect on the date hereof to any such director, officer or employee, whether past or present; (iii) enter into any new, or amend any existing, employment or severance or termination agreement with any such director, officer or key employee; or (ivii) become obligated under any new Holdings Benefit Program or Holdings PlanDSLT employee benefit plan, which was not in existence or approved by the DSLT Board of Directors of Holdings prior to or on the date hereof, or amend any such plan or arrangement in existence on the date hereof if such amendment would have the effect of materially enhancing or accelerating any benefits thereunder; (iii) other than annual increases in the ordinary course of business consistent with past practices, grant any increases in the compensation (salary, bonus or other) of any of its directors, officers or employees; (iv) enter into any new, or amend any existing, employment or severance or termination agreement with any director, officer or key employee; or (v) terminate the employment of any officer or employee of DSLT or any of its Subsidiaries without cause.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Imperial Holly Corp)

Certain Employee Matters. Except as set forth on Schedule 4.2(h) of the Holdings Letter, Holdings Arch shall not and it shall not permit any of its Subsidiaries to: (i) grant any increases in the compensation of any of its directors, officers or employees, except increases to employees who are not officers or directors in the ordinary course of business and in accordance with past practice; (ii) pay or agree to pay any pension, retirement allowance or other employee benefit not required or contemplated by any of the existing Holdings Arch Employee Benefit Programs Plans or Holdings Arch Pension Plans as in effect on the date hereof to any such director, officer or employee, whether past or present; (iii) enter into any new, or amend any existing, employment or severance or termination agreement with any such director, officer or key employee; or (iv) become obligated under any new Holdings Arch Employee Benefit Program Plan or Holdings Arch Pension Plan, which was not in existence or approved by the Board of Directors of Holdings prior to or on the date hereof, or amend any such plan or arrangement in existence on the date hereof if such amendment would have the effect of materially enhancing or accelerating any benefits thereunder; or (v) terminate the employment of any executive or employee of Arch without cause.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Arch Petroleum Inc /New/)

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Certain Employee Matters. Except as set forth on Schedule 4.2(h) of the Holdings Parent Letter, Holdings Parent shall not and it shall not permit any of its Subsidiaries to: (i) grant any increases in the compensation of any of its directors, officers or employees, except increases in the ordinary course of business and in accordance with past practice; (ii) pay or agree to pay any pension, retirement allowance or other employee benefit not required or contemplated by any of the existing Holdings Parent Benefit Programs or Holdings Parent Plans as in effect on the date hereof to any such director, officer or employee, whether past or present; (iii) enter into any new, or amend any existing, employment or severance or termination agreement with any such director, officer or key employee; or (iv) become obligated under any new Holdings Parent Benefit Program or Holdings Parent Plan, which was not in existence or approved by the Board of Directors of Holdings Parent prior to or on the date hereof, or amend any such plan or arrangement in existence on the date hereof if such amendment would have the effect of materially enhancing or accelerating any benefits thereunder.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Tuboscope Vetco International Corp)

Certain Employee Matters. Except as set forth on Schedule 4.2(h4.1(h) of the Holdings Company Letter, Holdings the Company shall not and it shall not permit any of its Subsidiaries to: (i) grant any increases in the compensation of any of its directors, officers or employees, except increases in the ordinary course of business and in accordance with past practice; (ii) pay or agree to pay any pension, retirement allowance or other employee benefit not required or contemplated by any of the existing Holdings Company Benefit Programs or Holdings Company Plans as in effect on the date hereof to any such director, officer or employee, whether past or present; (iii) enter into any new, or amend any existing, employment or severance or termination agreement with any such director, officer or key employee; or (iv) become obligated under any new Holdings Company Benefit Program or Holdings Company Plan, which was not in existence or approved by the Board of Directors of Holdings the Company prior to or on the date hereof, or amend any such plan or arrangement in existence on the date hereof if such amendment would have the effect of materially enhancing or accelerating any benefits thereunder.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Tuboscope Vetco International Corp)

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