Employee definition
Examples of Employee in a sentence
The Company and its subsidiaries and any “employee benefit plan” (as defined under the Employee Retirement Income Security Act of 1974, as amended, and the regulations and published interpretations thereunder (collectively, “ERISA”)) established or maintained by the Company, its subsidiaries or their “ERISA Affiliates” (as defined below) are in compliance in all material respects with ERISA.
To the Knowledge of Seller, no Business Employee has any intention of terminating employment with or services for Seller or, following the Closing, with Purchaser or its Affiliates.
Seller has not engaged in any unfair labor practices within the meaning of the National Labor Relations Act or similar state, local or foreign agency, in any case, relating to the Business or any Business Employee.
No Transferred Employee shall accrue any benefits under any Benefit Plans in respect of service with Purchaser or any of its Affiliates after the Closing Date.
Executive represents, confirms and undertakes that under the provisions of the General Approval, all payments, which were made by the Company to the Executive’s Pension Arrangement shall be in lieu of payment of severance pay, if Employee shall be entitled to such, according to Section 14 of the Severance Compensation Law, 1963 and in accordance with the General Approval.