MoU3 May 2024, 04:39 am
Agro Tech Foods Ltd. Enteres into a Retention Agreement with Conagra Brands Inc.
AI Summary
Agro Tech Foods Ltd. (AGRO TECH FOODS LTD.) has announced the entry into a retention agreement with Conagra Brands Inc. (Conagra). The agreement will see the Company pay a one-time retention bonus of INR112,640,625 to certain employees upon a change of control of the Company. Conagra is obligated to reimburse the Company for this amount. The purpose of the agreement is to ensure the continuity of these employees post the change of control.
Key Highlights
- Agro Tech Foods Ltd. enters into a retention agreement with Conagra Brands Inc.
- Company to pay one-time Retention Bonus of INR112,640,625 to certain employees post change of control.
- Conagra Brands to reimburse the Company for the Retention Bonus
- Agreement aims to ensure continuity of employees post change of control