Agreement For Stay

In the event that the Board of Directors is also a party to a residence and salary agreement or a termination indemnity agreement and is entitled to payment under this Agreement, that agreement shall be null and void and the Officer shall not be entitled to payments or benefits under this Agreement. From the closing date, the buyer assumes all obligations of the seller for leave (including accumulated leave), leave, sickness (including accumulated illness) and severance pay (if any) to be paid to all transferred employees, except under a stay and salary agreement, to the extent that these obligations are included in the final balance sheet. . . .