Employment and Consulting Contracts. Employment and consulting contracts with officers and directors shall at time of Closing and for two years thereafter shall not contain: any bonuses not related directly to increases in earnings; any car allowances not approved by the unanimous vote of the board of directors; any anti-dilution or reverse split protection provisions for shares, options or warrants; any deferred compensation; any unreasonable compensation or benefit clauses; or any termination clauses of over one year of salary. This clause may be waived conditionally in specific conditions by the Investor.
Appears in 3 contracts
Samples: Preferred Stock Purchase Agreement (Widepoint Corp), Preferred Stock Purchase Agreement (Aims Worldwide Inc), Preferred Stock Purchase Agreement (Iceweb Inc)
Employment and Consulting Contracts. Employment and consulting contracts with officers and directors shall at time of Closing and for two years thereafter shall not contain: any bonuses not related directly to increases in earnings; any car allowances not approved by the unanimous vote of the board of directors; any anti-dilution or reverse split protection provisions for shares, options or warrants; any deferred compensation; any unreasonable compensation or benefit clauses; or any termination clauses of over one year eighteen (18) months of salary. This clause may be waived conditionally in specific conditions instances by the Investor.
Appears in 2 contracts
Samples: Preferred Stock Purchase Agreement (Computer Software Innovations Inc), Preferred Stock Purchase Agreement (Verticalbuyer Inc)
Employment and Consulting Contracts. Employment and consulting contracts with officers and directors shall at time of Closing and for two years thereafter shall not contain: any bonuses not related directly to increases in earningsearnings per share; any car allowances not approved by the unanimous vote of the board of directors; any anti-dilution or reverse split protection provisions for shares, options or warrants; any deferred compensation; any unreasonable compensation or benefit clausesclauses as determined by an independent compensation committee; or any termination clauses of over one year of salary. This clause may be waived conditionally in specific conditions by the Investor.
Appears in 1 contract
Employment and Consulting Contracts. Employment and consulting contracts with officers and directors shall at time of Closing and for two years thereafter the duration of the Effective Time shall not contain: any bonuses not related directly to increases in earnings; any car allowances not approved by the unanimous vote of the board of directors; any anti-dilution or reverse split protection provisions for shares, options or warrants; any deferred compensation; any unreasonable compensation or benefit clauses; or any termination clauses of over one (1) year of salary. This clause may be waived conditionally in specific conditions by the Investor.
Appears in 1 contract
Samples: Preferred Stock Purchase Agreement (Aims Worldwide Inc)
Employment and Consulting Contracts. Employment and consulting contracts with officers and directors shall at time of Closing and for two years thereafter shall not contain: any bonuses not related directly to increases in earnings; any car allowances not approved by the unanimous vote of the board of directors; any anti-dilution or reverse split protection provisions for shares, options or warrants; any deferred compensation; any unreasonable compensation or benefit clauses; or any termination clauses of over one year of salary. This clause may be waived conditionally in specific conditions by the Investor.
Appears in 1 contract
Samples: Preferred Stock Purchase Agreement (Adsouth Partners, Inc.)
