Acquired Employees definition

Acquired Employees means employees who become employees as a result of a transaction under Section 410(b)(6)(C) of the Code. Such Employees will be excluded during the period beginning on the date of the transaction and ending on the last day of the first Plan year beginning after the date of the transaction. A transaction under Section 410(b)(6)(C) of the Code is an asset or stock acquisition, merger or similar transaction involving a change in the employer of the employees of a trade or business.

Acquired Employees shall have the meaning set forth in Section 7.5(a).

Acquired Employees means all those individuals who are employees of the Division or the Division Subsidiaries and who accept Buyer’s offer of employment, effective as of the Closing Date.

Examples of Acquired Employees in a sentence

• You are permitted to exclude those Employees that are classified as Acquired Employees due to an acquisition or similar transaction described in the Code (during a transition period).

• Except as may otherwise be required by law, effective as of the Closing Date, Buyer shall assume Seller’s liability for all accrued, but unpaid vacation time of Acquired Employees to the extent such liability is not already a liability of an Acquired Company.

• Seller shall cause all Acquired Employees to be 100% vested in their benefits under such Seller Savings Plans effective as of the Closing Date.

• The PKI Germany Acquired Employees who do not object to the transfer in due time and form are referred to as “Transferred German Employees”.

• Consequently, the German Transferee will by operation of law enter into the rights and obligations of the transferor PKI Germany arising from the employment relationships in existence at the time of the transfer with the PKI Germany Acquired Employees, a list of which, as of the date hereof, is attached as Schedule 1.1(h), and who do not object to a transfer of their employment to the German Transferee in due time and form (the latter are referred to as “Objecting German Employees”).

More Definitions of Acquired Employees

Acquired Employees means those employees or independent contractors of the Company and its Subsidiaries immediately prior to the Effective Time who are identified as such in Section 3.17(a) of the Company Disclosure Schedule.

Acquired Employees means those individuals who are employed by the Company immediately prior to the Closing Date.

Acquired Employees has the meaning set forth in Section 5(a)(i).

Acquired Employees has the meaning set forth in Section 4.10(a).

Acquired Employees has the meaning set forth in Section 9.2(a).

Acquired Employees or "Acquired Employee" shall have the meaning given such term in Section 6.10.

Acquired Employees means Business Employees who accept an offer of employment from Buyer as provided in Section 10.1(a).