Examples of Existing Employment Agreements in a sentence
Frankfort First shall have delivered to First Federal, with respect to each of the Frankfort First Executives who have Frankfort First Existing Employment Agreements in effect on the Closing Date, a Frankfort First Replacement Employment Agreement in each case dated as of the Closing Date and executed on behalf of the Bank by a duly authorized officer and by the appropriate Frankfort First Executive.
The Seller agrees to cause the Seller's Bank to cause the existing employment agreements ("Existing Employment Agreements") between each of the four foregoing individuals and the Seller's Bank to be terminated by mutual consent and without cost or expense to the Seller's Bank or any party to this Agreement immediately prior to the Effective Time.
Except with respect to First Northern's chief executive officer and up to two additional First Northern Executives, First Northern shall have delivered to Mutual, with respect to each of the First Northern Executives who have First Northern Existing Employment Agreements in effect on the Closing Date, a First Northern Replacement Employment Agreement in each case dated as of the Closing Date and executed on behalf of the Bank by a duly authorized officer and by the appropriate First Northern Executive.
Concurrently with the Closing, the Existing Employment Agreements between TDPLP and the other executives shall be assumed by the Operating Partnership (or by the Operating Partnership and the Company on a joint basis), so that from and after the date of the Closing all obligations to the employees under such Existing Employment Agreements listed on the Disclosure Schedule shall be assumed and performed by the Operating Partnership and TDPLP shall have no further obligations thereunder.
As of the Closing Date, neither the Company nor any of its Subsidiaries or their current or former ERISA Affiliates shall have any liability or obligations under the Long-Term Incentive Plan, the Existing Employment Agreements or any other Company Plan requested by the Buyer to be terminated pursuant to Section 6.10(d).