Distributing Employees Clause Samples
The 'Distributing Employees' clause defines how employees will be allocated or reassigned between parties, typically in the context of a business transaction, merger, or outsourcing arrangement. It outlines the criteria, process, and timing for transferring employees, such as which employees are affected, how their roles or contracts may change, and any obligations regarding notice or consultation. This clause ensures a clear and orderly transition of personnel, minimizing disruption and clarifying responsibilities for both the transferring and receiving parties.
Distributing Employees. For purposes of this Section 3.4(d), (x) except as described in clause (y) of this Section 3.4(d)(iii), if a Person is an officer or employee of Distributing or any member of the Distributing Group for any Tax Year (or portion thereof), then such officer or employee will exclusively be considered to be employed by Distributing (or the applicable member of the Distributing Group) for such Tax Year (or portion thereof); and (y) if an officer or employee is on the payroll of TruePosition, Inc. for any Tax Year (or portion thereof), then such officer or employee will exclusively be considered to be employed by Spinco (or the applicable member of the Spinco Group) for such Tax Year (or portion thereof).
Distributing Employees. For purposes of this Section 7, if a Person is an officer or employee of any member of the Distributing Group at any time during a Taxable period, then such officer or employee will exclusively be considered to be employed by such member of the Distributing Group for all of such Taxable period.
Distributing Employees. For purposes of this Section 3.4(d), if a Person is an officer or employee of Distributing or any member of the Distributing Group for any Tax Year (or portion thereof), then such officer or employee will exclusively be considered to be employed by Distributing (or the applicable member of the Distributing Group) for such Tax Year (or portion thereof).