Until December. 31, 2002, an employee in a bargaining unit who is declared surplus, who is eligible to exercise rights under XXX #4 (“Pre-Mix and Match Surplus Declarations”) or who has recall rights is eligible to apply to posted vacancies in another bargaining unit. An Employer receiving such application will select applicants in accordance with the provisions of its Collective Agreement which govern selections to vacancies. Such applicants will be considered as equal to non-surplus regular employees (i.e. According to Article 65.6.3(f)). A successful applicant will transfer his/her service to the new Employer in accordance with paragraph 9.4.7, below. A successful applicant will not be entitled to any relocation or moving expenses under the provisions of any Collective Agreement.
Until December. 31, 1999. Notwithstanding anything in the Loan Agreement to the contrary, the provisions of Section 6.16 shall be effective only on and after December 31, 1999; the requirements of Section 6.16 shall be suspended until that time. Also in reliance upon the Borrower's representations and warranties set forth below, and the additional terms and provisions set forth in this letter agreement, the Lender shall excuse the Borrower from its present noncompliance with the requirements of Section 2.7, provided that the Borrower satisfies the requirements of this letter agreement with respect to the special arrangements regarding Franchisee Note substitutions set forth below and in Exhibit A attached hereto. Except as otherwise expressly set forth in this letter agreement, nothing herein shall be deemed to excuse the Borrower from future compliance with the requirements of Sections 6.16 and/or 2.7, which requirements the Lender will hereafter strictly enforce. Likewise, except as otherwise expressly set forth in this letter agreement, nothing herein shall be deemed to excuse the Borrower from, or constitute a waiver of, any other requirements or obligations of the Borrower under the Loan Agreement. The foregoing waiver (the "Waiver") is solely for the purpose of waiving the Lender's right to exercise certain remedies due to a circumstance that, with notice or the passage of time or both, would constitute an Event of Default; the Waiver shall not in any way apply to or affect any other provision of the Agreement.
Until December. 31, 2005) unless the Corporation cannot reasonably maintain this commitment due to a decrease in Provincial funding. DATED at Thorold, Ontario, this 6th day of April 2006. For the Ontario Nurses’ Association For the Regional Municipality of Niagara Xxxxx Xxxxxxx, Labour Relations Officer Xxxx Xxx Xxxx LETTER OF UNDERSTANDING #4 BETWEEN THE REGIONAL MUNICIPALITY OF NIAGARA AND ONTARIO NURSES’ ASSOCIATION AND ITS LOCAL 9 HOMES
Until December. 31, 2000, the Seller shall permit the Buyer, at the Buyer's cost and expense, to utilize the services of the Seller's payroll vendor, Ceridian. The Buyer shall, upon the Seller's request, pay any funds required to fund in full any payroll obligations, including, without limitation, any applicable federal, state and local taxes.
Until December. 31, 1999, the Surviving Corporation and its Subsidiaries will continue to provide to current and former employees of the Company or its Subsidiaries (excluding employees covered by collective bargaining agreements) the employee compensation, benefit plans, severance benefits, programs, policies and arrangements, that are currently being provided by the Company and its Subsidiaries to such employees and former employees. Furthermore, the Company's 401(k) plan shall not thereafter be merged into Parent's 401(k) plan nor shall Parent's 401(k) plan be merged into the Company's 401(k) plan unless and until a closing agreement has been entered into with the Internal Revenue Service providing that Parent's 401(k) plan qualifies under Section 401(a) of the Code through the date of such closing agreement. Nothing in this Section 5.17(b) shall be deemed to prevent the Surviving Corporation or any of its Subsidiaries from making any change required by law.
Until December. 31, 2006, Executive’s base salary will continue to be $475,000. Effective January 1, 2007, and upon the Executive’s appointment as President and CEO of the Corporation, the Corporation agrees to pay Executive an annual base salary of $775,000, less required and authorized deductions and withholding. For fiscal 2008 and for each fiscal year thereafter, Executive’s base salary shall be reviewed and increases, if any, shall be awarded to Executive by the Board of Directors in its sole discretion, but the base salary shall not be reduced from that of the prior fiscal year. Executive’s base salary shall be payable at the same intervals as the Corporation pays other executives. This Amendment shall be attached to and be a part of the Executive Employment Agreement between Xxxxxxxxxxx & Banks Corporation and Xxxxxxx Xxxxxx. Except as set forth herein, the Executive Employment Agreement shall remain in full force without modification. In consideration of the mutual covenants contained herein, the parties have executed this Amendment effective as of the date and year above written. XXXXXXXXXXX & BANKS CORPORATION XXXXXXX XXXXXX /s/ Xxxxx X. Xxxxxxxxx /s/ Xxxxxxx Xxxxxx By: Xxxxx X. Xxxxxxxxx Xxxxxxx Xxxxxx Its: Chairman
Until December. 31, 1996, Lee will not be paid a salary, but the Corporation will pay or reimburse Lee xxx expenses under Section 3.3 below;
Until December. 31, 2009, except as otherwise agreed with the affected Employees, the Buyer shall provide the Employees with the employee compensation, employee benefit plans, programs and policies (including retirement, medical, life insurance and disability plans, programs and policies) (the “Buyer Plans”) and fringe benefits that are substantially comparable in the aggregate with those in effect on the date hereof (excluding any employee stock option, phantom option or stock appreciation rights plan currently in place in respect of the capital stock of the Seller or its Affiliates). The Seller shall discharge, or cause to be discharged, the obligations under those retention agreements contained in Section 12.2 of the electronic dataroom (collectively, the “Retention Agreements”) relating to the “bonus” specified in the Retention Agreements (collectively with all obligations of any nature of the Seller or an Acquired Company to either of the Listed Persons, the “Seller’s Retention Obligations”) in accordance with the terms and conditions of the Retention Agreements. For the avoidance of doubt, the Buyer shall be responsible for causing the applicable Acquired Company to pay (i) any “change-in-control” payment specified in the Retention Agreements and (ii) the “pro-rated earned annual incentive bonus” specified in the Retention Agreements, excluding any such amounts payable to either of the Listed Persons. The Seller shall reasonably assist the Buyer prior to Closing (and following the Closing as needed) with establishing replacement employee benefit plans for the Employees in respect of their employment with the applicable Acquired Company from and after Closing; provided, however, that Seller shall not be required to pay any amounts or incur any liabilities in connection with providing such assistance.
Until December. 31, 1996, JMC shall provide the Integrated Support Services for the Provider Companies listed on Exhibit B hereto for the Transaction Fees.
Until December. 31, 1998, the ratio of Borrower's (i) current assets to (ii) current liabilities, exclusive of any portion of the Loans that has been classified as current, shall not be less than 1 to 1. Effective January 1, 1999, Borrowers' current assets shall at all times be $200,000 more than current liabilities, exclusive of any portion of the Loans that has been classified as current.
