Hired Employee definition

Hired Employee has the meaning set forth in Section 6.1.6.

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Hired Employee has the meaning set forth in Section 8.10(a).

Hired Employee means any employee of Seller to whom Buyer offers employment after the Closing Date and who accepts such offer and commences such employment.

Examples of Hired Employee in a sentence

• All such at-will offers of employment will be contingent upon and effective immediately after the Closing and will be at the respective salary or base hourly wage that applied to each applicable Hired Employee immediately prior to the date of this Agreement.

• Nothing contained in this Agreement shall create any third party beneficiary rights in any Hired Employee, any beneficiary or dependents thereof, or any collective bargaining representative thereof, with respect to the compensation, terms and conditions of employment and benefits that may be provided to any Hired Employee by Buyer or its Affiliate or under any benefit plan that Buyer or any of its Affiliates may maintain.

• Further, to the extent consistent with applicable Law and at the request of Buyer, Seller will cooperate with, and shall cause the applicable Seller Affiliate to cooperate with, Buyer or its Affiliate to avoid, to the extent practical, the filing of more than one individual information reporting form pursuant to each applicable Tax Law with respect to each such Hired Employee for the calendar year within which the Closing Date occurs.

More Definitions of Hired Employee

Hired Employee has the meaning set out in Section 4.3(b);

Hired Employee shall have the meaning set forth in Section 7.2.a.

Hired Employee means any Business Employee that becomes an employee of Buyer or an Affiliate of Buyer as of the Closing Date.

Hired Employee as used in this Agreement means an Employee who accepts employment with Buyers as of the Closing Date, and in addition, any Employee of Sellers who is on leave as of the Closing Date who later accepts employment with Buyers in accordance with the terms of Section 10.3(a). All Hired Employees will be retained as employees-at-will. The terms of all such Hired Employees’ employment with Buyers shall be in accordance with usual and customary practices for employees of LifeCare and its Affiliates. Buyers shall provide each Hired Employee with employee benefits, including, without limitation, retirement, welfare and paid time off, consistent with similarly-situated employees at long term acute care hospitals that are owned and operated by Affiliates of LifeCare. With respect to such employee benefits, to the extent lawful and provided for under Buyers’ ‘policies and contracts, Buyers shall honor the Hired Employees’ prior service credit under Sellers’ welfare benefit plans for purposes of eligibility and satisfying pre-existing condition limitations in Buyers’ welfare benefit plans. Buyers shall also honor the Hired Employees prior service with Sellers for purposes of eligibility and vesting in Buyers’ retirement benefit plans and other service-based plans such as paid time off, but shall not accrue benefits or make contributions to such plans with respect to such prior service. Buyers shall carry over, and give credit for, the unused Paid Time Off days of the Hired Employees based on the valid records of Sellers, but only to the extent that (i) the amounts do not exceed the maximum allowed accrual under Buyers’ policies and (ii) the value of such Paid Time Off is reflected in the Final Net Working Capital. Participation in such benefit plans shall begin as soon as administratively feasible after the Closing Date for participating Hired Employees (and eligible dependents) and for all other Hired Employees who, given their service with Sellers, have met the age and service requirements for participation under the respective Buyers plans. If Buyers terminate the employment of any Hired Employee at any time after the Closing, Buyers shall be responsible for costs and consequences of any such termination;

Hired Employee shall have the meaning set forth in Section 5.02(a).

Hired Employee is defined in Section 10.3(b).

Hired Employee means those Business Employees who accept offers of employment with Buyer.