Employment of Employees. (a) BUYER shall extend offers of employment, as of the Closing Date, to such employees of the Offices listed in SCHEDULE R as may be employed by SELLER at the Offices as of the Closing Date (including, without limitation, those employees who on the Closing Date are on family and medical leave, military leave, personal leave or short-term disability and who elect to return to work not later than one (1) year following the Closing Date; individually and collectively the "Leave Employees" herein) for positions entailing responsibilities in effect at SELLER as of the Closing Date, and for a base salary not less than that paid by SELLER as of the Closing Date. Employees accepting employment with BUYER, including but not limited to the Leave Employees, are referred to herein individually and collectively as the "Transferred Employees". In the event that BUYER shall transfer (except in a comparable position and for comparable compensation to an office not more than 25 miles from the Office at which the Transferred Employee is employed as of the Closing Date, or at the request of the Transferred Employee), terminate employment of, or reduce the base salary of, a Transferred Employee (the "Terminated Employee") between the Closing Date and the date which is one (1) year from the Closing Date, other than for cause, BUYER shall pay to the Terminated Employee a sum equal to the greater of (i) that which the Terminated Employee would have received on the date of such transfer, termination, or reduction in salary under the First Commerce Corporation Change in Control Severance Program applicable to the Terminated Employee as of the date hereof and set forth in SCHEDULE R or (ii) the severance plan of BUYER otherwise applicable to the Terminated Employee as of the date of such transfer, termination, or reduction in base salary. Such payment shall be due and owing the Terminated Employee on the date of such transfer, termination, or reduction in salary. Nothing contained in this Agreement shall restrict or prohibit Buyer and any Transferred Employee from entering into an agreement satisfactory to both Buyer and the Transferred Employee providing for resolution of matters set forth in this section.
Employment of Employees. Purchaser currently expects to employ, at its option, certain of the employees of Seller. Seller agrees to take no action which would interfere with such employment by Purchaser, and shall take all action required by law or otherwise to release them from agreements with Seller that may prohibit their employment with Purchaser and to cause the valid termination of employment at the Closing Date of such employees by Seller who are to be employed by Purchaser following the Closing Date. Seller further agrees that Purchaser shall not assume any responsibility for, and Seller shall indemnify Purchaser from and against, any liability arising from any termination of employment of those employees of Seller whom Purchaser does not employ after the Closing Date, or as to whom Purchaser gives Seller notice that Purchaser will not continue their employment, such notice to be given on or prior to the Closing Date. Seller further agree that Purchaser shall not be liable for, and Seller shall indemnify Purchaser from and against any liability in respect of any employees of Seller for any acts or omissions relating to the employment of such employees or to the business of Seller arising on or prior to the Closing Date, regardless of whether the employees of Seller are subsequently employed by Purchaser. Nothing in this Agreement is intended to confer upon any employee of Seller any rights or remedies, including, without limitation, any rights of employment of any nature or kind whatsoever.
Employment of Employees. 12.1 a. Except as specifically limited by this Agreement, the Employers shall have entire freedom of selectivity in hiring and may discharge any employees for any cause that they may deem sufficient.
Employment of Employees. On the date of Closing, the Buyer shall offer employment to substantially all of the salaried and non-salaried employees of the Seller who are employed in the operation of the Store. The employment offered by the Buyer shall be "at will," and the Buyer shall be under no obligation to continue such employment following the date of Closing. The Seller shall terminate the employment of all of its salaried and non-salaried employees who are employed in the operation of the Store as of the close of business on the date of Closing, and the Seller shall be responsible for all wages, salaries, and other benefits, if any, due and owing to such Employees for all periods ending on or prior to the date of Closing. Additionally, the Buyer shall cause all Store managers who become employed by the Buyer to be covered, commencing on the first day of such employment, under the Buyer's health and medical welfare and benefit plans without any waiting period, with a waiver of pre-existing conditions, and otherwise on the same terms as such insurance coverages are provided generally to the employees of the Buyer.
Employment of Employees. 52 11.2 Seller's Benefit Plans................................................... 52 11.3
Employment of Employees. 8 8. Assignment.......................................................... 8 9. No Third-Party Beneficiaries........................................ 9 10. Expenses............................................................ 9 11.
Employment of Employees. Purchaser shall have no obligation to ------------------------ employ or to offer employment to any of the employees of Seller. Seller shall be responsible for the payment of all wages, commissions, severance pay, accrued but unpaid wages, vacation pay, sick pay, and holiday pay to the employees of Seller, up to and including the date Seller terminates the employment of such employees. Seller shall be responsible for the payment of any amounts due to its employees pursuant to any benefit plans of Seller as a result of the employment of its employees.
Employment of Employees. (a) On the Closing Date, Purchaser shall make offers of employment to all of the hourly Employees and to those certain salaried Employees identified on SCHEDULE 11.1, other than Employees who are "Not Actively Employed" by Seller on the Closing Date for any reason whatsoever, including but not limited to a leave of absence, long term or short term disability, or prior termination of employment (an Employee shall be considered "Not Actively Employed" if the Employee did not report to work with Seller for a period of at least six consecutive business days which includes the Closing Date (excluding vacation time or absences due to minor illness)). Employees who accept the offer of employment made by Purchaser shall be referred to as "Hired Employees."
Employment of Employees. As of the Separation Date, all Cowen Employees shall continue to be employees of a Cowen Entity.
Employment of Employees. As of the Closing Date, Buyer shall offer to employ each employee listed in Schedule 7.1 (which Schedule shall be updated as of the Closing Date with appropriate deletions and additions thereto to reflect the then current employees of the Business, but not including any employee then on long-term disability, short-term disability or not actively at work other than those employees on vacation, bereavement leave, short-term sick leave or other short-time due to non-medical reasons which are not scheduled to last more than ten (10) business days ("Leave"), unless and until such employee returns to full-time work from such long-term disability, short-term disability or Leave after the Closing Date) at a base salary or hourly rate not less than the base salary or hourly rate then applicable to such employee and to provide such benefits, holidays, vacation days, and similar benefits as are, in the aggregate, substantially comparable to those then in effect for such employees, except that Buyer shall not be required to provide a 401(k) savings plan. Each such employee as of the Closing Date (or for an employee on long-term or short-term disability or Leave as of the Closing Date, who returns from such disability or Leave after the Closing Date), who becomes employed by Buyer is herein referred to individually as a "Transferred Employee" and collectively as the "Transferred Employees".
