Examples of Company Continuing Employee in a sentence
Nothing contained in this Agreement shall confer upon any employee any right with respect to continued employment by Parent or Surviving Corporation, nor shall anything herein interfere with the right of Parent or Surviving Corporation to terminate the employment of any employee (including any Company Continuing Employee) at any time, with or without cause, following the effective date of his or her employment with Parent or Surviving Corporation.
Each Company Continuing Employee shall retain all of such Company Continuing Employee’s accrued but unpaid vacation, sick time or other paid time off as of the Effective Time, to be administered in accordance with the policies in effect when such vacation or other paid time off is used during 2022 by each such Company Continuing Employee.
Buyer shall, and shall cause its Subsidiaries or Affiliates, as applicable, to cause to be waived any waiting periods, evidence of insurability requirements, or pre-existing condition limitations and similar limitations under Buyer Benefit Plans to the extent waived or satisfied by a Company Continuing Employee under any Benefit Plan.
Following the Closing, each Company Continuing Employee shall be eligible to participate in the Purchaser’s (or, as applicable, its parent’s) incentive compensation plans (the “Purchaser Incentive Plans”) applicable to an employee of equivalent level and experience.
This Section 5.09 shall not apply to any Company Continuing Employee who is covered by a collective bargaining or similar agreement.