If it chooses the latter course of action, AOL Time Warner must have entered into at least one such contract at the time it enters the advanced IM business, followed by two more contracts with rivals 180 days later.

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The company, which launched in November 2012, currently has one full-time employee and several contract workers.

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Wales international Ledley, whose Ninian Park contract expires in 12 months' time, is one of the hottest properties outside the Premier League and has been the subject of two failed bids from top-flight clubs this season.

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Mr. Lee will receive three months of severance and one week's salary, in addition to any earned time off, under his contract.

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Like many of the City's ways, LIBOR is something of an anachronism, a throwback to a time when many bankers within the Square Mile knew one another and when trust was more important than contract.

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The team must file the SPC within one day of receiving it from the player, and then the league has one to five days (depending on the time of year) to approve and register or reject the contract.

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And instead of hiring 1, 000 workers, they intended to close one of its older facilities and lay-off 135 temporary or contract workers along with 40 full-time employees.

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