Employees, Wages and Benefits. (i) Seller shall terminate all of its employees effective as of the Closing Date and Buyer shall not assume or have any obligations or liabilities with respect to such employees or such terminations, including, without limitation, any severance obligation. Seller acknowledges and agrees that Buyer has the right to interview and discuss employment terms and issues with such employees prior to and after the Closing.
Employees, Wages and Benefits. (i) Seller shall terminate or reassign all of its employees related to the Business effective as of the Closing Date and neither Parent nor Acquisition Sub shall assume or have any obligations or liabilities with respect to such employees or such terminations, including, without limitation, any severance obligation.
Employees, Wages and Benefits. (a) Seller shall terminate all employees of the Business and shall be responsible for making all severance payments to such employees in respect of such terminations. Buyer shall not assume or have any obligations or liabilities with respect to such terminations.
Employees, Wages and Benefits. (a) Seller shall terminate all employees of the Seller's business and Seller shall be responsible for making all severance payments to such terminated employees in respect of such terminations. Buyer shall not assume or have any obligations or liabilities with respect to any employees of Seller or such terminations. Buyer intends to hire all or substantially all such terminated employees immediately as at-will employees, provided that each such employee agrees, as a condition of employment, after the Closing at substantially the same salary as previously provided by Seller, to execute Buyer's standard form of Proprietary Information and Inventions Agreement and such other agreements as Buyer deems reasonably necessary to conduct its business. Nothing in this Agreement shall be construed as a commitment or obligation of Buyer to accept for employment, or otherwise continue the employment of, any of Seller's employees.
Employees, Wages and Benefits. (a) All employees of Seller related to the Business are set forth on SCHEDULE 1.14. In each case such Schedule includes the current job title and aggregate annual compensation of each individual. Seller shall terminate all employees set forth on SCHEDULE 1.14 and Seller shall be responsible for making all unpaid wage payments and providing any other benefits due upon termination of employment to such terminated employees and their spouses or beneficiaries, where applicable, in respect of such terminations, except for accumulated vacation, holiday or sick leave. Buyer shall assume obligations and liabilities with respect to any employees of Seller whom Buyer employs that are associated with or arise out of the Closing and the termination of their employment by Seller. It is contemplated that Buyer will offer employment to all such terminated employees, listed on SCHEDULE 1.14A, immediately after the Closing as at-will employees, at substantially the same salary as previously provided by Seller, provided that each such employee agrees, as a condition of employment, to execute Buyer's standard form of Confidentiality Agreement (as modified to reflect any changes required by or appropriate under California or other applicable law) and such other agreements as Buyer deems reasonably necessary to conduct its business. It is understood that the employment of the employees of the Business who accept Buyer's offer of employment will not commence until immediately following the close of business on the Closing Date. Notwithstanding the foregoing, Buyer shall have no obligation to offer employment to any employees of Seller who are treated by Seller as a temporary employee, lease employee, or contract employee. Further, Buyer shall have no obligation to offer employment to any employee of Seller who is on an approved leave of absence that has lasted longer than or is expected to last longer than thirty (30) days other than any employees on any legally protected leave of absence (e.g. military leave or leave under the Family and Medical Leave Act), in which case, such employment shall be effective as of the date they present themselves for work with Buyer immediately upon the termination of such protected leave of absence. Any employee that falls within the immediately preceding sentence is so indicated on SCHEDULE 1.14.
Employees, Wages and Benefits. Buyer shall have no obligation to offer employment to any persons who, as of the Closing Date, are employed in the operation of the Business or otherwise by Seller. Buyer shall not be obligated under and hereby specifically disclaims any assumption of any liability with respect to any employee benefit plan policy, plant closing obligation, practice or agreement including but not limited to group health, post-retirement medical or life insurance benefits, severance benefits, qualified retirement plans, non-qualified plans to which Seller are parties or under which any of Seller’s employees or former employees is covered, all of which are included in Excluded Liabilities.
Employees, Wages and Benefits. (a) Seller shall be responsible for the employ of all employees of the Nu Hair and Shen Min Brands as of or prior to the Closing and shall be responsible for making all compensation and any severance payments, to which such employees may be entitled. Buyer shall not assume or have any obligation or liability with respect to such employees or any termination of such employees.
Employees, Wages and Benefits. Purchaser agrees to retain Seller's existing employees after Closing, provided that such employment shall be on an at will basis. Between the Closing Date and January 21, 2002, or such other date as may be agreed upon by Seller and Purchaser (the "Outside Employee Turnover Date"), Purchaser shall have the option to effect the retention of such employees by way of (i) hiring such employees as of the Closing Date, (ii) leasing such employees from Seller during the period between the Closing Date and the Outside Employee Turnover Date, followed by the hiring of such employees as of the Outside Employee Turnover Date, or (iii) having Seller serve in the capacity of an operator of the Property for no additional consideration during the period between the Closing Date and the Outside Employee Turnover Date, followed by the hiring of such employees as of the Outside Employee Turnover Date. All employee wages, bonuses, social security taxes, unemployment insurance taxes, workers' compensation insurance and other benefits will be prorated as of the Closing Date and paid by Seller, provided that Purchaser shall promptly reimburse Seller for its actual costs incurred respecting such employees. All outstanding workers' compensation claims as of the Closing Date shall be Seller's responsibility. On the Closing Date, Purchaser shall receive a credit against the Purchase Price in an amount equal to all accrued vacation, sick pay and other fringe benefits for the employees being retained by Purchaser, provided that such benefits have accrued as of the Closing Date.
Employees, Wages and Benefits. 5 1.11 Stockholders' Representatives............................... 6 SECTION 2.
Employees, Wages and Benefits. (i) Seller’s only employee is Rxxxxxxxx Price. Seller shall terminate Rxxxxxxxx Price as an employee effective as of the Closing Date and neither Parent nor Purchaser shall assume or have any obligations or liabilities with respect to such employee, including, without limitation, any severance obligation.
