Examples of Idearc Group in a sentence
Except as otherwise expressly provided herein, no provision of this Agreement or the Distribution Agreement shall be construed to create any right, or accelerate any entitlement, to any compensation or benefit whatsoever on the part of any employee employed by any member of the Verizon Group or the Idearc Group.
Unless Verizon and Idearc shall otherwise agree in a written agreement signed by each party, in the event that such parties agree to transfer the employment of any Verizon Employee to any member of the Idearc Group after the Distribution Date (each, a “Delayed Transfer Employee”), then effective as of the date such individual is hired by any such member of the Idearc Group (the “Transfer Date”), such individual shall become an Idearc Employee and cease to be a Verizon Employee.
As of the Transfer Date or such later date as is specified in this Agreement (or such other date as may otherwise be agreed in writing by and between Verizon and Idearc), all Liabilities of the type and nature that would have been transferred to an Idearc Plan or assumed by Idearc had such Delayed Transfer Employee been an Idearc Employee as of the Distribution Date shall be assumed by Idearc or such other member of the Idearc Group it shall designate (the “Designated Idearc Subsidiary”).
To the extent that any individual identified as an Idearc Employee will not automatically become or continue to be an employee of a member of the Idearc Group as of the Distribution Date, Verizon agrees to cause the employment of such individual to be transferred to a member of the Idearc Group as of the Distribution Date.
If the Distribution Date occurs prior to December 31, 2006, Idearc Group shall continue each Short Term Incentive Plan and each Sales Commission Plan in effect as of the Distribution Date, until December 31, 2006.
The Idearc Group shall credit each Idearc Employee with the amount of accrued but unused vacation time, sick time and other time-off benefits (together the “Time-Off Benefits”) as such individual had with the Verizon Group as of the Distribution Date and shall provide such individuals with the same rights, benefits, and entitlements in respect to such Time-Off Benefits as they were entitled to from the Verizon Group as of the Distribution Date or Transfer Date, as the case may be.
Notwithstanding the foregoing in this Section 4.2, nothing in this Agreement other than those provisions specifically set forth herein to the contrary shall preclude Idearc (or, as applicable, any member of the Idearc Group) from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any Idearc Plan; any benefit under any Plan or any trust, insurance policy or funding vehicle related to any Idearc Plan.
Verizon shall provide transition services to Idearc Group with respect to the Idearc Mirror Plans and the Idearc Employees in accordance with the Transition Services Agreement.
During the Term, Idearc may from time to time increase or decrease the Service volumes, including as a result of fluctuations in Idearc’s business or by adding or removing members of the Idearc Group.
Idearc and the members of the Idearc Group are subject to regulation by self-regulatory organizations to which they belong, governmental bodies and other regulatory authorities under applicable laws, rules, regulations and contract provisions.