THE EMPLOYEES. 12.1. The parties agree that the sale and purchase pursuant to this Agreement will constitute a relevant transfer for the purposes of TUPE and, accordingly, that from the Effective Time the contracts of employment of the Employees shall have effect as if originally entered into with the Buyer.
THE EMPLOYEES laid off shall have the option of bumping into any position held by the last twelve senior staff within the affected classification provided that the laid off employee is more senior than the employee being bumped. This bumping shall preserve the laid off employee’s work hours or the greatest portion thereof but will not result in the laid off employee gaining work hours. In the event that this bumping cannot preserve the employee’s work hours the employee can bump the least senior employee within the unit, from any classification where the employee can preserve the largest portion of work hours, provided the laid off employee has more seniority than the employee bumped, and is presently able to do the core of the job. In the event the employee bumps to a new classification the employee shall be paid on the pay scale of the new classification at the experience step that is the closest to the pay rate of the employee’s previous position.
THE EMPLOYEES. The employment of the affected employees will be transferred in accordance with the rules and regulations in the Employment Protection Act and other relevant labour legislation. The principle of merger of equals shall be reflected in connection with the appointment of positions and assignment of duties. To the extent seniority is emphasised in such or any other situation, seniority in the Hydro Group and the Statoil Group respectively shall be considered equal in the Merged Company. Moreover, the Parties will attach importance to providing information to and to consult with the employees and their representatives in connection with the execution of the Merger.
THE EMPLOYEES. Buyer agrees that it shall make offers of ------------- employment in the form of Exhibit B hereto ("Employment Offer Letters") to the --------- senior employees of the Company listed on Exhibit C hereto (the "Senior --------- Employees"). Buyer agrees that after the Closing it will make arrangements for all regular, active Employees as of the Closing, their spouses and eligible dependants, to be eligible to participate in employee benefit plans and programs which in the aggregate are comparable to the employee benefit plans and programs presently provided by the Company including without limitation, stock option and 401(k) plans provided by Buyer to its employees generally, and that such employees, their spouses and eligible dependents, as applicable, shall be given credit for their respective years of prior service with the Company and 2001 contributions to the Company's 401(k) plan for all purposes including without limitation, vacation accrual and matching benefits, and any preexisting conditions or limitations with respect to health, life and disability benefits shall be waived. Further, if such plans are provided during the 2001 plan year, such employees shall be credited for any health expenses incurred prior to the Closing Date during the 2001 plan year for purposes of any deductible, co-pay or out-of-pocket limit under any health plan or program of Buyer. Until such time as Buyer's plans are offered to eligible Employees, the Employees will continue to be eligible to participate in the Company's plans, other than the Company's 401(k) plan, under the same conditions as prior to the Closing. Nothing in this Agreement shall confer, or shall be construed to confer, upon any Employee as of the Closing any right to the continuance of employment with the Company or Buyer nor shall anything contained in this Agreement limit in any manner the right of the Company or Buyer to terminate any such employee at any time or for any reason Buyer will provide any notices to the employees of the Company and take any related actions that might be required under any Applicable Law, including WARN or any foreign, state or local law, with respect to events that occur contemporaneously with or after the Closing in connection with or as a result of the contemplated transactions.
THE EMPLOYEES. 12.1 The parties agree that the such is the nature of the Assets sold pursuant to this agreement, that the sale and purchase pursuant to this agreement will not constitute a relevant transfer of any Employees for the purposes of TUPE. Xx Xxxx Xxxxxxx and Xx Xxxx Xxxxxxx, the Seller’s principal contacts with Toys R Us shall upon reasonable notice and at mutually convenient times be made available to the Buyer for four months from the Completion Date provide reasonable assistance to the Buyer with the relationship with Toys R Us.
THE EMPLOYEES. 10.1 The parties agree that the sale pursuant to this agreement will constitute a relevant transfer for the purposes of TUPE and, accordingly, that it will not terminate the contracts of employment of any of the Employees, which shall be transferred to LECG pursuant to TUPE with effect from the Completion Date.