Post-Closing Employment Matters. From and after the Closing, the Company shall not be required to continue employing any Persons employed by the Company as of the date of Closing.
Post-Closing Employment Matters. Subject to Section 7.10(e), Parent covenants as follows:
Post-Closing Employment Matters. From and after the Closing, subject to any applicable collective bargaining agreement(s), no Company will be required to continue employing or engaging any Person employed or engaged by the Company as of the Closing Date, except as provided in any Employment Agreements executed and delivered at Closing and approved by Purchaser in writing. Purchaser may offer, at its sole discretion, consulting arrangements or terms of employment to certain representatives or employees of the Company.
Post-Closing Employment Matters. (a) Immediately prior to the Closing Date, KCAP shall terminate, or cause to be terminated, the employment of each active KCAP Employee. As promptly as practicable (but no later than 30 days) following the date hereof, BCP shall deliver to KCAP a schedule setting forth the name of each KCAP Employee it intends to make an offer of employment to. During the Interim Period, BCP shall use reasonable best efforts to cause one of its Affiliates, not later than five days prior to the Closing, to offer employment, commencing as of and contingent upon the Closing, to each KCAP Employee set forth on such schedule (each such KCAP Employee who accepts such an offer of employment, a “Continuing Company Employee”); provided that such offer of employment shall be contingent upon the applicable KCAP Employee agreeing to waive any severance compensation or benefits such KCAP Employee would be entitled to under any KCAP Benefit Plan, Contract or otherwise as a result of the KCAP Employee’s termination of employment with KCAP. KCAP shall take all actions reasonably necessary to assist BCP and its Affiliates in making the offers contemplated hereby (including commercially reasonable efforts to encourage KCAP Employees to accept such offers, which for the avoidance of doubt shall not require the payment of additional compensation). BCP shall keep KCAP reasonably informed of all offers and acceptances referred to above on a timely basis. All aspects of such position may be modified by BCP or its Affiliates at any time after the Closing. To the extent (x) a KCAP Employee (i) does not accept an offer of employment or waiver of severance compensation and benefits or (ii) does not receive an offer of employment from BCP (a KCAP Employee covered by clauses (i) or (ii), a “Non-Continuing Company Employee”) and (y) severance compensation or benefits are due and payable to such Non-Continuing Company Employee (including vacation, personal days, sick pay or other paid time off, benefits or benefit claims, severance or termination or indemnity pay (including any employer side Taxes or other payments related thereto), notice and benefits under all applicable Law), KCAP shall be liable for such costs and expenses (the aggregate amount of all such costs and expenses due to all Non-Continuing Company Employees, “KCAP Severance Benefits”). KCAP shall pay all such KCAP Severance Benefits to Non-Continuing Company Employees on the date immediately prior to the Closing Date in accordance with Se...
Post-Closing Employment Matters. (1) Employees as of immediately prior to the Effective Time who continue their employment with Purchaser, the Company or any of their respective Subsidiaries immediately following the Effective Time are referred to herein as the “Continuing Employees.” For a period of at least twelve (12) months following the Effective Time, or (if earlier) the termination of the Continuing Employee’s employment with such entities, the Purchaser will or will cause the Company to provide each Continuing Employee with (i) base salary or hourly wages, (ii) target annual cash incentive compensation opportunities (including commissions and target annual bonuses, and excluding any equity incentives or long-term cash incentives), and (iii) employee benefits (excluding retiree health and welfare benefits or defined benefit pension plans or any post-termination or post-employment health benefits) that are substantially comparable, considered in the aggregate, to those that such Continuing Employee was entitled to receive immediately prior to the Effective Time.
Post-Closing Employment Matters. (a) Purchaser shall recognize the International Union of Operating Engineers Local No. 564 (“Local No. 564”) as the exclusive representative of the bargaining unit covered by the April 1, 2007 Collective Bargaining Agreement between Penreco and Local No. 564 (the “Local No. 564 Agreement”), shall offer to assume and adopt, agree to assume and adopt, and upon request by Local No. 564, assume and adopt the Local No. 564 Agreement, and such Local No. 564 Agreement shall remain in full force and effect for its duration. Purchaser shall offer employment to all employees covered by the Local No. 564 Agreement (“Local No. 564 Represented Employees”) on the terms provided in the Local No. 564 Agreement, and with wages, hours and other terms and conditions of employment, including Local No. 564 Represented Employee benefit, retirement and welfare plans and programs in effect at Closing; and
Post-Closing Employment Matters. From and after the Closing Date, Buyer agrees with the Shareholders that:
Post-Closing Employment Matters. Protective shall not, during the first 90 days after the Closing Date, reduce the compensation (cash or non-cash benefits) payable to any employee from the compensation in effect immediately prior to the Closing Date, except that it may change medical coverage plans so long as such change does not result in a lapse of coverage for any affected employee. The foregoing shall not prevent Protective from terminating any employee at any time.
Post-Closing Employment Matters. (a) The Company Employees as of immediately prior to the Effective Time are referred to herein as the “Covered Employees.” Subject to Section 4.9(c), for a period of twelve (12) months following the date of this Agreement, the Purchaser will or will cause the Company to provide each Covered Employee with (i) base salary or hourly wages and cash incentive compensation opportunities that are substantially similar, in the aggregate, to those in effect immediately prior to the date hereof, provided that any form of discretionary compensation continue to be provided at the sole discretion of the Company, and (ii) employee benefits (excluding retiree health and welfare benefits or defined benefit pension plans or any post-termination or post-employment health benefits) that are substantially similar, in the aggregate, to those that such Covered Employee was entitled to receive as at the date hereof, in each case, provided the specific terms of such entitlements have been disclosed on Section 4.9 of the Company Disclosure Letter.
Post-Closing Employment Matters. After the Closing, Purchasers shall cause RSP and RSP-TW to comply, in all material respects, with applicable employment Laws with respect to the Designated Employees who become employees of RSP.
