Management Payments. 24 Section 4.22 Intellectual Property.............................................. 24 Section 4.23 Insurance.......................................................... 24 Section 4.25
Management Payments. Other than as set forth in the Company Disclosure Letter, no employee or former employee of the Company will be entitled to additional compensation or to the early vesting or acceleration of payment of any compensation that arises out of or are related to the consummation of the Merger and the transactions contemplated thereby.
Management Payments. Other than as set forth in Section 4.21 of the Disclosure Schedule, no employee or former employee of the Company will be entitled to additional compensation, the forgiveness of debt, or the acceleration of payment of any compensation that arises out of or relates to the consummation of the Merger and the transactions contemplated thereby.
Management Payments. Other than as set forth in the Acquirer Disclosure Letter, no employee or former employee of Acquirer will be entitled to additional compensation or to the early vesting or acceleration of payment of any compensation that arises out of or are related to the consummation of the Merger and the transactions contemplated thereby.
Management Payments. 27 SECTION 3.25
Management Payments. Other than payments under Benefit Plans and Employee Agreements, payments properly accrued in the Company's budget for the 1997 fiscal year, or as provided in this Agreement, no employee or former employee will be entitled to additional compensation or to the early vesting or acceleration of payment of any compensation that arises out of or are related to the consummation of the Merger and the transactions contemplated thereby.
Management Payments. 27 Section 4.22 Proprietary Rights ............................................. 28
Management Payments. The Bank is a party to agreements with certain of its officers. Specifically, in order to induce Xxxxxxx Xxxxx to become the Bank's President, the Bank agreed to pay Xxxxxxx Xxxxx a cash bonus upon a change in control of the Bank (such as the Bank Merger) to be calculated based upon the purchase price, which calculation is estimated to result in a payment of approximately $130,000. The Bank has also agreed to pay an additional $50,000 to Xxxxxxx Xxxxx if his employment is not continued following the change in control transaction. In order to induce Xxxxx Newtown to become an executive officer of the Bank, the Bank agreed to pay Xxxxx Newtown six months salary if he is not retained as an officer following a change in control transaction. Prior to the Effective Time, the Bank shall make any payments required by such agreements. Following the Effective Time, Sterling shall make all payments required by such agreements. Any payments made pursuant to such agreements shall not be deemed an expense for purposes of computing Net Income Per Share and such payments shall not otherwise reduce the Merger Consideration.
Management Payments. Make any payments to any Person (including, without limitation, any Affiliate of a Covered Person) in consideration for management, advisory and other services provided by such Person to any Covered Person ("Management Payments") except that any Covered Person shall be permitted to engage Harbour Group Industries, Inc. and/or Harbour Group Ltd. (each a "Management Company"; collectively the "Management Companies") to provide advisory and other services ordinarily provided by such Management Companies to their customers, and any such Covered Person may pay such Management Company or Companies all reasonable fees and expenses invoiced by such Management Company or Companies in connection with such services; provided, however, that (i) aggregate payments by all Covered Persons to such Management Companies during the period commencing with the Effective Date through the end of Borrower's Fiscal Year 1996 shall not exceed $100,000 and such aggregate payments made during any Fiscal Year of Borrower thereafter shall not exceed $600,000, (ii) for so long as there is an Existing Default, other than an Existing Default under Section or Section , that has been in existence for more than 30 consecutive days no Covered Person shall be permitted to pay any such fees and expenses, and (iii) for so long as there is an Existing Default under either Section or Section no Covered Person shall be permitted to pay any such fees and expenses. Any such Management Payments not made as a result of the preceding sentence may be made at a later date when there is no Existing Default and the payment of such deferred Management Payments will not cause any of the events described in subsections (i), (ii) and (iii) above to occur.
Management Payments. All payments to management and senior executives of the Credit Parties, including salary and pension payments, and all bonus payments contractually required to be paid to any management and senior executives of the Credit Parties are contemplated in the Weekly Cash Flow Projection most recently provided to the Agent.
