Employment of Transferred Employees. All Active Employees of Seller employed in the Business, and all Active Employees of Seller and its Affiliates who are associated with the Business, on the Closing Date (hereinafter collectively referred to as "Transferred Employees") shall be employed by (or become the responsibility of, as applicable) Buyer as of the Closing Date in the same or comparable positions, and at the same or comparable total compensation (including base pay and bonus (exclusive of any retention bonus)), as were in effect on the Closing Date, except as otherwise provided in this Agreement. The term "Transferred Employees" shall include only those individuals described in the preceding sentence who are identified as such on Schedule 11.1. For purposes of the first sentence, the term "Active Employees" shall include all full-time and part-time employees, employees on workers' compensation, military leave, maternity leave, leave under the Family and Medical Leave Act of 1993, short-term disability, non-occupational disability, on layoff with recall rights, and employees on other approved leaves of absence with a legal or contractual right to reinstatement. Buyer also shall employ any employee of Seller or its Affiliates who on the Closing Date is an LTD Recipient (as defined in Section 11.7) and who immediately before his active employment with Seller or its Affiliates ceased was employed in or in association with the Business and whose primary work location is within the areas serviced by the Purchased Exchanges, provided such employee returns to active employment within one (1) year of the Closing Date. For a period of six (6) months following the Closing Date, Buyer shall not employ, and Buyer shall not permit any of its Affiliates to employ, any person who retires or otherwise terminates from any employment at or in association with the Business during the six-month period beginning three (3) months before the Closing Date. All Transferred Employees and LTD Recipients (as defined in Section 11.7) shall be identified on Schedule 11.1 to be prepared by Seller and submitted to Buyer at least fifteen (15) days prior to the Closing Date; such Schedule 11.1 shall identify, as of the date of such Schedule, the employees who have terminated employment as described in the preceding sentence; and such Schedule 11.1 shall be updated as of the date that is three months after the Closing to identify any employees who terminated employment as described in the preceding sentence after the dat...
Employment of Transferred Employees. (a) Buyer shall employ the Transferred Employees as of 12:01 a.m. on the Closing Date. The applicable time described in this Section 2.4 is referred to in this Agreement as the “Hire Date.”
Employment of Transferred Employees. (a) Buyer shall employ, as of 12:01 a.m. on the Closing Date, all of the Employees who accept Buyer’s offer of employment, except that each Absent Employee shall be deemed employed by Buyer as of 12:01 a.m. on the Absent Employee’s Start Date.
Employment of Transferred Employees. (a) Schedule 10.1 lists each division, and the total number of salaried and hourly, nonunion and union, employees actively employed as of the date of this Agreement in each division by Seller or its Affiliates whose primary duties relate to the Business ("Active Employees"). As of the Closing Date, Buyer shall employ all Active Employees of Seller employed in the Business being acquired ("Transferred Employees") in the same comparable positions, and at the same compensation level (including wages, salary and bonuses) as were in effect with Seller immediately prior to the Closing Date. Buyer reserves the right to restructure positions and functions as it deems appropriate so long as reassignment does not result in materially diminished responsibilities or a reduction in compensation. For purposes of the preceding sentence, "Active Employees" shall include all full-time and part-time employees, employees on military leave, maternity leave, leave under the Family and Medical Leave Act of 1993, on short-term disability, on layoff with recall rights, and employees on other leaves of absences where there is a legal or contractual right to reinstatement. Notwithstanding the foregoing, nothing in this Agreement shall operate to prevent or prohibit Buyer from making changes in compensation of Transferred Employees based on demotions arising for cause.
Employment of Transferred Employees. The Parent hereby agrees to employ on the Closing Date all Transferred Employees in accordance with such terms and conditions as have been offered by the Parent; provided, however, that all “at-will” employees shall continue as such, and nothing in this Agreement shall limit the Parent’s right to terminate any Transferred Employee at any time or alter any terms or conditions of employment.
Employment of Transferred Employees. (a) As of the Closing Date, Buyer shall employ all employees actively employed by Citizens whose primary duties relate to the Business ("Active Employees") who as of the Closing Date are classified on Citizens' payroll records as 070 employees ("070 Active Employees") and who either are actively at work or are on vacation, bereavement leave, short-term sick leave or any other authorized leave of absence which is scheduled to last not more than thirty (30) business days after the Closing Date at the same wages or salary as were in effect with Citizens immediately prior to the Closing Date. Buyer also shall employ any other 070 Active Employee who is on an authorized leave of absence scheduled to last more than thirty (30) days where there is a legal or contractual right to reinstatement, as of the date, if any, within one (1) year from the Closing Date, on which such employee returns to active work, in compliance with Buyer's return to work policies and practices, at the same wages or salary as were in effect with Citizens immediately prior to the Closing Date. Any such 070 Active Employee employed by Buyer as provided in this Section 10.1(a) is referred to herein as a "Transferred Employee".
Employment of Transferred Employees. 45 8.1.1 Assumption of Labor Contract Obligations.............46 8.1.2
Employment of Transferred Employees. 6.10.1.1 On the Closing Date, Seller shall make available for employment, and Buyer shall offer to employ, all Active Employees. The Active Employees who accept such offers shall become "Transferred Employees" as of the Closing Date. Except for any limitation imposed by a collective bargaining agreement, the Parties agree that the employment relationship between the Transferred Employees and the Buyer shall be at will, that it shall be a new employment relationship and that the Buyer is not intended to be, and is not, successor to the Seller in any legal sense with respect to the employment relationships existing prior to the Closing Date between such Transferring Employees and the Seller.
Employment of Transferred Employees. 46 8.1.1 Assumption of Labor Contract Obligations ........................................ 47 8.1.2 Assumption of Employment and Other Agreements ................................... 47 8.1.3 No Creation of Objection Rights ................................................. 47 8.1.4 Recognition of Transferred Employee Service ..................................... 47 8.1.5 Assumption of Obligation to Pay Bonuses ......................................... 47 8.1.6
Employment of Transferred Employees. 45 11.1.1 Assumption of Collective Bargaining Agreement Obligations .............................................46 11.1.2 Assumption of Employment and Other Agreements ...........46 11.1.3 Recognition of Transferred Employee Service .............47 11.1.4 Assumption of Obligation to Pay Bonuses .................47
