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Title: |
Loaned Employee Agreement |
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Date: |
2001 |
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Preview shows 5KB of 23KB total |
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$32 |
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ID: |
#907406 |
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EXHIBIT 10.7
LOANED EMPLOYEE AGREEMENT
This LOANED EMPLOYEE AGREEMENT ("Agreement") by and between Nortel
Networks Inc., a corporation organized under the laws of Delaware, for itself
and on behalf of its Affiliates (collectively, "Nortel Networks") and Arris
Interactive L.L.C., a limited liability company organized under the laws of
Delaware ("Existing Venture") (collectively, "Parties") is effective as of the
Effective Date.
WHEREAS, Nortel Networks and Existing Venture are parties to that
certain Agreement and Plan of Reorganization dated as of October 18, 2000, that
provides, in general, for the contribution of Nortel Networks's interest in
Existing Venture to an Affiliate of ANTEC Corporation in exchange for cash and
common shares of such Affiliate of ANTEC Corporation ("Merger Agreement"); and
WHEREAS, in connection with such transactions, the Parties desire that
Existing Venture receive the services of those employees of Nortel Networks
listed on Schedule 1 attached hereto and incorporated by reference ("Employees")
during the Term, as defined below in Section 1.1, while such Employees remain
employed by Nortel Networks in their Current Jobs as defined in Schedule 1; and
WHEREAS, the Parties wish to set forth the terms and conditions under
which Nortel Networks shall supply the services of the Employees to Existing
Venture.
Now, therefore, based on the mutual covenants contained in this
Agreement, the Parties agree as follows:
ARTICLE 1
SERVICES TO BE PROVIDED
1.1 Subject to the continued employment of the Employees in their
Current Jobs, Nortel Networks shall supply the Services of the Employees to
Existing Venture from the Effective Date through the earlier of (i) the first
anniversary of the Effective Date and (ii) the date on which the Services
supplied by the last remaining Employee under this Agreement terminate ("Term").
In addition, if Employees are providing Services under this Agreement as of the
first anniversary of the Effective Date and the Existing Venture continues to
need such Services, Nortel Networks shall continue to supply the Services of the
Employees to the Existing Venture for an additional three (3) months, provided
Existing Venture has given Nortel Networks at least sixty (60) calendar days
prior notice of this extension. The services to be supplied by Nortel Networks
are set forth in Schedule 1 ("Services"). If any Employee ceases to be employed
by Nortel Networks in the Current Job prior to the expiration of the Term for
any reason (whether as a result of voluntary or involuntary termination of
Nortel Networks employment, commencement of a New Job, as defined in Section 1.2
of this Agreement, or otherwise) or Existing Venture terminates the Services of
any Employee as provided in Section 1.4 of this Agreement, this Agreement shall
immediately terminate with respect to such Employee.
<PAGE> 2
1.2 Nortel Networks shall inform the Employees that their job
duties shall consist of supplying Services required in their Current Job. Except
as provided in Section 1.3 of this Agreement, Nortel Networks shall not permit
any Employee to be employed in a Nortel Networks job that does not involve
providing Services ("New Job") without the consent of the Existing Venture
Representative (as described in Article 4). Employees shall be solely employed
by Nortel Networks and Nortel Networks shall be responsible for the overall
direction, control and management of the Employees including, but not limited
to, the evaluation, discipline, compensation and termination of employment of
the Employees.
1.3 Notwithstanding anything in this Agreement to the contrary,
Nortel Networks shall permit an Employee to seek, accept and commence a New Job
during the Term provided that Employee shall not, without the consent of the
Existing Venture Representative, commence such New Job earlier than the
expiration of sixty (60) calendar days following Nortel Networks's written
notice to the Existing Venture Representative of such Employee's acceptance of
New Job, it being intended that Employee shall continue to supply Services
during such sixty (60) days (or shorter) period. Nortel Networks agrees that it
shall not target a group or groups of Employees for recruitment to staff Nortel
Networks projects; provided, however, that nothing in the foregoing shall
preclude Nortel Networks from staffing its job openings with Employees
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