New Employment Agreement. Effective as of the Effective Date, Employer shall employ Employee, and Employee shall serve, as Employer’s General Counsel, Vice President-Legal Affairs and Corporate Secretary on the terms set forth in Sections 2 through 19 hereof, which shall constitute Employee’s new employment agreement with Employer (the “New Employment Agreement”).
New Employment Agreement. The Executive agrees to execute and deliver, concurrently with his receipt of the payment provided under Section (2) above, a new employment agreement substantially in the form attached hereto as Exhibit "B," in which the Executive agrees to continue his employment by the Company commencing on the effective date of this Agreement through the earliest of (i) September 30, 2000, (ii) the 60th day after the consummation of the Sales Agreements, and (iii) the termination date determined by the Board of Directors of the Company, in order to assist the Company in the implementation and consummation of the Sales Agreements, the Chapter 11 bankruptcy filing and proceeding of the Company, the contemplated liquidation of the Company and related events.
New Employment Agreement. In exchange for Executive's release of claims and other promises as described below, and upon the Effective Date of this Settlement Agreement, the Corporation agrees to enter into the Employment Agreement and continue Executive's employment pursuant to its terms. Executive acknowledges and agrees that the Corporation's willingness to enter into the Employment Agreement constitutes valuable and sufficient consideration for his promises contained herein, and provides him with benefits and other consideration to which he would not otherwise be entitled.
New Employment Agreement. If requested by IMH, Executive shall agree to enter into separate employment agreements to evidence the terms of Executive’s employment by each of IMH and Infinet, as applicable.
New Employment Agreement. The New Employment Agreement shall remain in full force and effect.
New Employment Agreement. Effective as of the Effective Date, Employer shall employ Employee, and Employee shall serve, as Employer’s Chief Financial Officer on the terms set forth in Sections 2 through 19 hereof, which shall constitute Employee’s new employment agreement with Employer (the “New Employment Agreement”).
New Employment Agreement. The New Employment Agreement shall have been executed and delivered by Xxxxxxx Xxxxxx.
New Employment Agreement. Conacher and TWP each acknowledge and agree that the Employment Agreement will expire on December 31, 2009 and will be replaced in its entirety by the New Employment Agreement commencing on January 1, 2010. Conacher and TWP each acknowledge and agree that the transition between the Employment Agreement to the New Employment Agreement shall not be construed as a termination of any kind and shall not otherwise trigger any similar provision in the Employment Agreement.
New Employment Agreement. The Surviving Bank has entered into an employment agreement with the President and CEO of the Company, pursuant to which he shall become President and CEO of the Surviving Bank commencing as of the effective time of the Bank Merger.
New Employment Agreement. Parent and the Parent Board shall take all actions necessary or appropriate to execute and deliver to the Company and Xxxxxx Xxxxxx the New Employment Agreement contemporaneously with the Closing.
