Examples of Employment Transfer Date in a sentence
As soon as practicable after the applicable Employment Transfer Date, and in any event within ten (10) Business Days after the amount of the Transferred FSA Balances is determined, Seller shall pay Purchaser the net aggregate amount of the Transferred FSA Balances, if such amount is positive, and Purchaser shall pay Seller the net aggregate amount of the Transferred FSA Balances, if such amount is negative.
Effective as of the applicable Employment Transfer Date, the Liability in respect of bonus awards allocable to Transferred Business Employees in respect of the fiscal year in which the applicable Employment Transfer Date occurs under any Benefit Plan that is an annual bonus plan shall be assumed by Purchaser based on the accrual for such Transferred Business Employees as shown on the books and records of Seller Entities as of immediately prior to the applicable Employment Transfer Date.
Buyer will be responsible for providing COBRA coverage to or with respect to any New Employee who incurs a "qualifying event" after the Employment Transfer Date.
Each New Employee shall be eligible for coverage as of the later of the Closing Date or the date on which he or she becomes a New Employee (the "Employment Transfer Date") under any medical, dental, vision, prescription drug, life insurance and other welfare benefit plans (within the meaning of section 3(1) of ERISA) maintained by Buyer for its employees ("Buyer's Welfare Plans").
Such cash retention award shall vest on the same terms and subject to the same conditions as applied to the forfeited Seller equity compensation award immediately prior to the applicable Employment Transfer Date.