Examples of Corresponding Employees in a sentence
After the effective time of the Plan of Arrangement, the Parties shall take all necessary steps to cause all of the employees of CW Media and any employees of its Affiliates to resign, effective as of the Closing Date, from all positions as officers or directors of any member of each Group in which they serve (excluding any Corresponding Employees of such Group) and such employees will be replaced as of the Closing Date with officers and directors designated by the members of such Group.
More specifically, at the Effective Time CW Media shall resign as agent of the Corresponding Employees of each of the New Entities and its Group under the AA Group RRSP and each New Entity and its Corresponding Business shall takes all steps necessary to be appointed as the agent of its Corresponding Employees under its Corresponding Group RRSP as at the Effective Time.
Each New Entity shall Assume or retain or cause to be Assumed or retained all Liabilities with respect to the accrued, unused vacation of any of its Corresponding Employees.
The NA will be placed last if it was a competition from which the NA withdrew.
Effective as of the Effective Time, each New Entity shall establish or cause to be established or otherwise provide or cause to be provided non-pension benefit plans (the “Corresponding Benefit Plans”) to provide non-pension benefits on and after the Effective Time for its Corresponding Employees (and their eligible spouses, beneficiaries and dependants) who participated in the AA Benefits Plans prior to the Effective Time.
Effective as at the Effective Time, each New Entity shall assume or cause to be assumed sponsorship of the portion of the AA Group RRSP that relates to its Corresponding Employees (each such portion a “Corresponding Group RRSP”; the Corresponding DPSP and Corresponding Group RRSP established by each New Entity shall be referred to as the “Corresponding Savings Plan” in respect of such New Entity and its Group).
Upon such transfer, the relevant New Entity, the relevant Corresponding Business and the relevant Corresponding DPSP shall Assume all Liabilities with respect to all amounts transferred from the AA DPSP to such Corresponding DPSP in respect of the relevant Corresponding Employees and each of CW Media, its Affiliates (for the avoidance of doubt, other than such Corresponding Business) and the AA DPSP shall be relieved of all such Liabilities.
Each New Entity and its Corresponding Group shall Assume or retain exclusive responsibility for all individual employment, retention, termination, severance and other similar agreements (collectively, “Employee Agreements”) in respect of any of its Corresponding Employees.
For the avoidance of doubt, Corresponding Employees who are on short-term disability or long-term disability as at the Effective Time shall be enrolled in and receive benefits under the Corresponding Benefit Plans for the Group to which they are Corresponding Employees, on and after the Effective Time.
As soon as practicable after the Effective Time, CW Media shall cause the individual account balances of Corresponding Employees held under the AA DPSP to be transferred from the AA DPSP to the applicable Corresponding DPSP.