Common use of Prohibition of Certain Employment Contracts Clause in Contracts

Prohibition of Certain Employment Contracts. Not enter into any contracts of employment which (i) cannot be terminated on notice of 14 days or less or (ii) provide for any severance payments or benefits covering a period beyond the termination date (other than those which AIX has previously been approved) except as may be required by law; provided, however, that nothing in this Paragraph shall prohibit ITEQ from entering into an employment agreement with its chief executive officer on substantially the terms previously disclosed in writing to AIX;

Prohibition of Certain Employment Contracts. Not enter into any contracts of employment which (i) cannot be terminated on notice of 14 days or less or (ii) provide for any severance payments or benefits covering a period beyond the termination date (other than those which AIX ITEQ has previously been approved) except as may be required by law; provided, however, that nothing in this Paragraph shall prohibit ITEQ from entering into an employment agreement with its chief executive officer on substantially the terms previously disclosed in writing to AIX;