Former Key Employees Sample Clauses
The "Former Key Employees" clause defines the rights, restrictions, or obligations related to individuals who previously held significant positions within a company, such as executives or senior managers. This clause may specify limitations on hiring, soliciting, or engaging with these former employees, often in the context of mergers, acquisitions, or non-compete agreements. Its core function is to protect the business interests of the company by preventing competitors or other parties from gaining an unfair advantage through the recruitment or involvement of individuals with insider knowledge or strategic influence.
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Former Key Employees. The Plan Administrator will exclude the Account Balance (and distributions, if any, of the Account Balance) of any Non-Key Employee who was formerly a Key Employee.
Former Key Employees. The Plan Administrator must calculate the Top-Heavy Ratio by disregarding the Account Balance (and distributions, if any, of the Account Balance) of any Non-Key Employee who was formerly a Key Employee.