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SEC Filings

10-Q
SEVEN STARS CLOUD GROUP, INC. filed this Form 10-Q on 11/13/2017
Entire Document
 
 

Execution Version

 

 

(iii)            It is intended to restrict the business activities of the Company or any of its Subsidiaries or any of its Affiliates in any way, or restrict the freedom of the Company or any of its Subsidiaries or any of its Affiliates to compete in any business area or with any Person or in any geographical area.

 

(g)               Revise, modify, change or terminate any material contract with the Company and any of its Subsidiaries as a Party, or waive, exempt or transfer the rights or claims under the contract, each of which does not include the activities in daily operation process;

 

(h)       Any collective bargaining agreements or other labor union contracts adopted or applied to employees of the Company or any of its Subsidiaries, except as provided by applicable law requirements;

 

(i)       Hire a new employee for a new position at the annual base salary of more than 300,000 US dollars, or employ an independent contractor with a condition that must send a notice ahead of thirty-three(30) days or less time for dismissal so as to avoid a fine.

 

(j)       Increase remuneration or benefits or pay bonuses in any way to any executive or director of the Company or any of its Subsidiaries, unless such remuneration increases and bonus payments are set forth on Disclosure Schedule Article 6.3 (j).

 

(k)       Increase remuneration or benefits or pay bonuses in any way to any other employee, executive or independent contractor of the Company or any of its Subsidiaries, unless such remuneration increases or bonus payments are made for non-executive officers in accordance with past practice, or performed in accordance with the current corporate benefit plan or any contract or applicable legal requirements;

 

(l)       Except for abiding by the requirements of laws any valid contract or corporate benefit plan in effect on the date of this Agreement

 

(i) Pay any benefit which has not been stated in any contract or corporate benefit plan effective on the date of this Agreement to any employee, executive, director or independent contractor of the Company or any of its Subsidiaries, (ii) Grant any rewards under any corporation benefit plan, except for awards disclosed to the Purchaser prior to the date of this Agreement (including granting Company stock options, stock appreciation rights, stock-based or equity-related awards; performance units, or restricted stock or restricted stock units, or exempt from any existing restrictions of any contract or corporate benefit plan, or grant awards under any contract or corporate benefit plan)

 

(iii)       Take any action to finance any future payments under any contract or Company benefit plan or to ensure, in any other way, payment of remuneration or benefits under the above contract or corporate benefit plan,

 

(iv)       Take any action to accelerate the vesting or payment the remuneration or benefits under any contract or corporate benefit plan,

 

(v)       Adopt, conclude or amend any corporate benefit plan, but except for concluding an Employ Letter with a new employee in the ordinary course of business according to the past practice, and the Employ Letter should stipulate that such employment is subject to any employment principle, without severance pay, unless otherwise required by applicable law, or

 

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