PEO definition
Examples of PEO in a sentence
The PEO Employees employed by ▇▇▇▇▇ following the Closing shall be eligible to participate in Buyer’s retirement and welfare benefit plans in accordance with the terms of such plans upon a transition date to be specified by Buyer.
Notwithstanding any provision to the contrary in this Article IX, the employment of Business Employees of any Deferred Business (each a “Deferred Transfer Employee”) will not be transferred to Purchaser or its Affiliates or a PEO (and such employees will not become Transferred Employees) until such time as contemplated by the terms of this Section 9.01 or Section 6.14.
Nothing in this Section shall be construed as an amendment of any Company Plan any PEO Plan or Agreement or any employee benefit plan maintained by Buyer or any of its Affiliates.
To the extent any such Deferred Transfer Employee cannot be transferred by operation of Law with the applicable Deferred Business, Purchaser shall, or shall cause one of its Affiliates or a PEO to, make offers of employment to each such Deferred Transfer Employee in accordance with applicable local Law requirements and this Article IX effective as of the date of the applicable Deferred Closing.
For those PEO Employees that are employed by ▇▇▇▇▇ following the Closing, Buyer will evaluate historical compensation data provided by the Sellers to determine the appropriate level and terms of benefits compensation post-Closing (if any), which evaluation shall take into consideration Buyer’s pre-existing compensation and benefit plans.