CompUSA 2015 Annual Report Download - page 89
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6.10 Employees and Consultants .ExceptassetforthonSection6.10oftheSellerDisclosureSchedule:
(a)No Transferred Employee (as defined in Section 9.1) has been granted the right to continued employment by such Seller or to any
material compensation following termination of employment withsuch Seller except for Canadian employees, noneof whom have contractual entitlements on
terminationotherthantherighttoreasonablenoticeatcommonlaw.Asofthedatehereof,totheKnowledgeofanySeller,andotherthanascontemplatedbythis
Agreement, no Transferred Employee intends to terminate his or her employment or other engagement with such Seller, nor does such Seller have a present
intention to terminate the employment or engagement of any such Person. Section 6.10 of the Seller Disclosure Schedule setsforth an accurate, correct and
completelistasofthedatehereofofall(i)TransferredEmployees,includingeachTransferredEmployee’sname,titleorposition,presentannualcompensation
(includingbonuses,commissionsanddeferredcompensation,aswellasseverancepayments,terminationpayandotherspecialcompensationofanykindpaidto,
accruedwithrespectto,orthatwouldbepayableto(inwholeorinpart,whetherwithorwithoutthepassageoftime)suchTransferredEmployee),accruedand
unused paid vacation and other paidtime off, including accrued overtime entitlements (as of September 30,2015), status as full-time or part-time, location of
employment,yearsofservice,interestsinanyincentivecompensationplan,andestimatedentitlementstoreceivesupplementaryretirementbenefitsorallowances
(whetherpursuanttoaContractorotherwise)and(ii)individualswhoarecurrentlyperformingservicesforSellersrelatedtotheBusinesswhoareclassifiedas
“consultants”or“independentcontractors”andwhoaresetforthonSchedule9.1(a).Section6.10oftheSellerDisclosureSchedulesetsforthall(i)increasesin
anysuchTransferredEmployee’swageorsalarysinceJanuary1,2015and(ii)increasesorchangesinanyotherbenefitsorinsurancecollectivelyprovidedtoany
suchTransferredEmployeessinceJanuary1,2015.NoTransferredEmployeeiseligibleforpaymentsthatwouldconstitute“parachutepayments”underSection
280GoftheCode.
(b)Therearenomaterialclaims,disputesorcontroversiespendingor,totheKnowledgeofSellers,threatenedinvolvinganyTransferred
Employee or group of Transferred Employees, other thanroutine human resources disputes, controversies or claims (including worker’s compensation claims)
involvingTransferredEmployeeswherethepotentialexposuretoaSellerislessthan$10,000.NoSellerhassufferedorsustainedanyworkstoppageandnosuch
workstoppageisthreatened.
(c)NoTransferredEmployee(otherthanwithrespecttoemployeesemployedinCanada,pursuanttorequirementsofCanadianstatutoryor
commonlaw)hasanyenforceableagreementastolengthofnoticeorseverancepaymentrequiredtoterminatehisorheremployment.
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