Employment of Seller's Personnel. The Seller will use its reasonable best efforts to persuade its employees at the Stores to make themselves available for employment by the Purchaser. Purchaser shall use its reasonable best efforts to interview and review said current employees of Seller prior to the Closing Date. Purchaser will only be able to offer employment to those of Seller’s employees who meet Purchaser’s normal employment criteria and to the extent job openings then exist. To the extent job openings are not available, Purchaser intends to retain in its files the personnel information about Seller’s employees who meet Purchaser’s criteria and to consider the same for other suitable job openings as they may become available. It is not the intent of this Section 2.7 to make Seller’s employees third party beneficiaries to this Agreement. Employment of Seller’s personnel by Purchaser shall be solely at Purchaser’s option in the exercise of its business judgment. Purchaser is not assuming any of Seller’s employment liabilities that have accrued, including but not limited to, unpaid FICA, FUTA, unemployment tax, pension or profit-sharing plan contributions, employee fringe benefits, bonuses or incentive programs of any type, obligations under COBRA or any other federal, state or local law, statute or regulation, or accrued and/or unpaid vacation time or allowances, nor is Purchaser acquiring or assuming any interest or obligation under any employee benefit plans of Seller.
Employment of Seller's Personnel. (a) The Buyer shall offer to employ beginning immediately after the Closing Date, at rates of compensation not less than the Seller's rates of compensation as in effect on the Closing Date, but otherwise in accordance with the normal hiring practices and policies of the Buyer and PDYN, all of the Seller's employees listed on Schedule 8.2(a) and shall employ all of the Seller's employees who accept such offer of employment. The Seller shall use its best efforts between the date hereof and the Closing Date to make all of its employees available for employment by the Buyer. Such employees who are hired by the Buyer shall be referred to herein as "Hired Employees."
Employment of Seller's Personnel. The Seller will use its good faith best efforts to persuade its employees to make themselves available for employment by the Purchaser. Any employment of Seller's personnel by Purchaser shall be in the sole discretion of Purchaser in the exercise of its business judgment. It is not the intent of this section to make Seller's employees third party beneficiaries to this Agreement. Purchaser is not assuming any of Seller's employment liabilities that have accrued, including but not limited to, unpaid FICA, FUTA, unemployment tax, pension or profit sharing plan contributions, employee fringe benefits, bonuses or incentive programs of any type or accrued and/or unpaid vacation time or allowances, nor is Purchaser acquiring any interest or obligation under any Employee Benefit Plans of Seller.
Employment of Seller's Personnel. The Seller will use its good faith best efforts to persuade its employees at the Stores to make themselves available for employment by the Purchaser. Purchaser shall use its good faith best efforts to interview and review said current employees of Seller prior to the Closing Date; provided, however, employment of Seller's personnel by Purchaser shall be in the sole discretion of Purchaser in the exercise of its business judgment. It is not the intent of this section to make Seller's employees third party beneficiaries to this Agreement. Purchaser is not assuming any of Seller's employment liabilities that have accrued, including but not limited to, unpaid FICA, FUTA, unemployment tax, pension or profit-sharing plan contributions, employee fringe benefits, bonuses or incentive programs of any type or accrued and/or unpaid vacation time or allowances, nor is Purchaser acquiring any interest or obligation under any Employee Benefit Plans of Seller. Purchaser will enter into employment agreements with the three principal officers of Seller, Xxxxx Xxxxx, Xxxxxx Xxxxxxxxx and Xxx Xxxxx, with a one-year term and on the same terms and conditions, including salary, fringe benefits and the like, as are in their existing employment agreements, excluding, however, any change of control provisions.
Employment of Seller's Personnel. Buyer presently intends to retain substantially all of the salaried and hourly employees that are employed in the Compression Business and expects to offer to the employees listed on Schedule 16 continued employment on terms and conditions generally comparable to the terms and conditions upon which such employees were employed by Seller before the Closing Date. Seller shall not attempt to discourage such employees from accepting Buyer's offer of employment on those terms. However, a review will be made of the employees that are listed on Schedule 16 and the scope of their responsibilities, and additional consideration will be given as to employees to be retained after the acquisition in light of the staffing needs of Buyer and Buyer's conclusions regarding the qualifications of each employee. Neither this Agreement nor the negotiations leading to this Agreement, nor any other actions by Buyer and Seller, other than the execution and delivery of a written employment agreement by Buyer, will create in any of such employees any rights, explicit or implied, to continued employment. Seller, or its Affiliates, shall retain all liability for payment of vacation pay accrued, and disability pay and other claims incurred, before the Closing Date by the employees of the Compression Business whose employment has been terminated by Seller, or its Affiliates.
