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This excerpt taken from the MRVL 10-Q filed Sep 8, 2005. Business Employees”), their respective titles or positions,
dates of hire, regular work location, current annual compensation (salary,
bonus and otherwise), current rate of accrual of paid time off, and a
description of their status (i.e., whether active or on leave of absence) as of
the date of this Agreement. To the extent any employee listed on Section 3.15(b) of
the Seller Disclosure Letter is on leave of absence, Section 3.15(b) of
the Seller Disclosure Letter further describes the type of leave, the date it
commenced and the expected duration of leave.
Except as set forth on Section 3.15(b) of the Seller
Disclosure Letter, there are no Business Employees on layoff, and there are no
individuals not currently listed as Business Employees on Section 3.15(b) of
the Seller Disclosure Letter with recall or preferential rehire rights and no
Business Employees listed on Section 3.15(b) of the Seller
Disclosure Letter have any such rights.
(c) There is no policy, plan or program of paying severance pay or any form of severance compensation in connection with the termination of any employee of the Business. To Seller’s Knowledge, the transfer of the Assets in connection with the transactions contemplated by this Agreement will not adversely affect the authority of any employee of the Business to work in the United States or any other country. Except as set forth on Section 3.15(c) of the Seller Disclosure Letter, no employee of the Business is, to Seller’s Knowledge, a party to or bound by any contract or subject to any judgment that may materially interfere with the use of such Person’s best efforts to promote the interests of the Business.
(d) There are no Contingent Workers employed or used with respect to the Business.
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