Employment Assurances Sample Clauses

Employment Assurances. For a period of one year following the Effective Time, Buyer shall not reduce the Acquired Employee's base pay, and shall not terminate such Acquired Employee's employment except for "cause". For the purposes of this section, "cause" shall include (i) any meaning ascribed to "cause" under California law, (ii) the commission of an illegal act, (iii) negligence or willful misconduct in carrying out (or failing to carry out) the employee's duties or responsibilities, and (iv) any other failure to comply with any of Buyer's policies or practices that could have resulted in termination of such employee. At the Effective Time and thereafter, Acquired Employees shall be treated no less favorably than similarly situated employees of Buyer. Nothing in this Agreement shall (i) prevent Buyer from exercising any reserved right contained in any of its employee benefit plans to amend, modify, suspend, revoke, or terminate any such plan, (ii) apply to any equity-based compensation plan of Buyer, or (iii) require Buyer to assume any obligations or liability with respect to any of Seller's existing employee benefits and pension plans, agreements, arrangements or plans, whether or not subject to the Employee Retirement Income Security Act of 1974 ("ERISA"). No provision of this Agreement shall be deemed to constitute an employment contract between Buyer and any Employee, or confer upon any Employee any rights or cause of action against Buyer.
Sample 1Sample 2
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Employment Assurances. For a period of one year following the Employment Commencement Date of each Acquired Employee, Buyer shall not reduce the Acquired Employee’s base pay, and shall not terminate such Acquired Employee’s employment except for “cause” or changes in operational requirements. Further, Buyer shall provide Non-Represented Employees with an opportunity for compensation, including incentive compensation, and benefits that is consistent with the compensation, including incentive compensation, and benefits that Buyer pays similarly situated employees at Buyer’s other refinery facilities.
Sample 1
Employment Assurances. For a period of one year following the Employment Commencement Date of each Acquired Employee, Buyer shall not reduce the Acquired Employee's base pay, and shall not terminate such Acquired Employee's employment except for "cause". Further, Buyer shall provide non-represented Acquired Employees with an opportunity for incentive compensation offered to Buyer's similarly situated employees. For represented Acquired Employees, Buyer shall provide gainsharing as set forth in the Collective Bargaining Agreement. The fourth quarter 1999 gainsharing payment will be shared proportionately by Buyer and Seller based on the number of days in the quarter that the recipients were Seller's employees or Acquired Employees.
Sample 1
Employment Assurances. For a period of one year following the Effective Time, Buyer shall not reduce the Acquired Employee's Base Pay Rate, the type of benefits available to the Acquired Employees, the dollar amount of the Buyer's contribution to such benefits, the dollar amount of benefits available under such benefits or any other rights of the Acquired Employees under such benefits, and shall not terminate such Acquired Employee's employment except for "cause". For the purposes of this section, "cause" shall include (i) any meaning ascribed to "cause" under any Applicable Law, (ii) the commission of an illegal or unethical act, (iii) negligence or willful misconduct in carrying out (or failing to carry out) the employee's duties or responsibilities, (iv) any other failure to comply with any of Buyer's policies or practices that could have resulted in termination of such employee, and (v) any other concept of cause which could result in termination under Seller's general practices. At the Effective Time and during the stated one year period, Acquired Employees shall be treated no less favorably than similarly situated employees of Buyer.
Sample 1

Related to Employment Assurances

  • Employment and Position Subject to Section 2, the Company hereby employs the Executive as its President and Chief Executive Officer, and the Executive hereby accepts such employment under and subject to the terms and conditions hereinafter set forth.

  • Employment and Benefit Matters (a) For the period commencing at the Effective Time and ending on December 31, 2011, Parent agrees to cause the Surviving Corporation to maintain base salary, bonus opportunity, retirement benefits, health benefits, welfare benefits, but not any stock-based benefits, for the Seller Personnel who remain employed after the Effective Time (collectively, the “Seller Employees”) at the same levels that are, in the aggregate, at least comparable to those in effect for similarly situated employees of Parent on the date hereof. Parent shall, and shall cause the Surviving Corporation to, treat, and cause the applicable benefit plans in which Seller Employees are entitled to participate to treat, the service of Seller Employees with Seller or any Subsidiary of Seller attributable to any period before the Effective Time as service rendered to Parent, the Surviving Corporation or any Subsidiary of Parent for purposes of eligibility to participate, vesting and for other appropriate benefits including, but not limited to, applicability of minimum waiting periods for participation, but excluding benefit accrual (including minimum pension amount) and eligibility for early retirement under any defined benefit plan of Parent or eligibility for retiree welfare benefit plans or as would otherwise result in a duplication of benefits. Without limiting the foregoing, Parent shall cause any pre-existing conditions or limitations, eligibility waiting periods or required physical examinations under any health or similar plan of Parent to be waived with respect to Seller Employees and their eligible dependents, to the extent waived or satisfied under the corresponding plan in which Seller Employees participated immediately prior to the Acceptance Date, and any deductibles paid by Seller Employees under any of Seller’s or its Subsidiaries’ health plans in the plan year in which the Acceptance Date occurs shall be credited towards deductibles under the health plans of Parent or any Subsidiary of Parent. Parent shall, and shall cause the Surviving Corporation to, use commercially reasonable efforts to make appropriate arrangements with its insurance carrier(s) to ensure such result. Seller Employees shall be considered to be employed by Parent “at will” and nothing shall be construed to limit the ability of Parent or the Surviving Corporation to terminate the employment of any such Seller Employee at any time. Parent will cooperate with Seller, and assume all costs, in respect of consultation obligations and similar notice and bargaining obligations owed to any employees or consultants of Seller or any Subsidiary of Seller in accordance with all applicable Laws and bargaining agreements, if any.

  • Employment Relations The Company is in compliance with all Federal, state or other applicable laws, domestic or foreign, respecting employment and employment practices, terms and conditions of employment and wages and hours, and has not and is not engaged in any unfair labor practice.

  • Employment Duties The Company hereby employs the Executive for the Term (as defined in Section 2.1), to render exclusive and full-time services to the Company as President and Chief Operating Officer or in such other executive position as may be mutually agreed upon by the Company and the Executive, and to perform such other duties consistent with such position as may be assigned to the Executive by the Board of Directors or any officer of the Company senior to the Executive.

  • Prior Employment Agreements The Executive represents that he/she has not executed any agreement with any previous employer which may impose restrictions on Executive’s employment with the Employer.

  • Employment Conditions By accepting the Award, the Participant acknowledges and agrees that:

  • Termination of Employment Agreements Any and all Employment Agreements entered into between the Company or any of its Subsidiaries and the Executive prior to the date of this Agreement are hereby terminated.

  • Compensation; Employment Agreements; Etc Enter into or amend or renew any employment, consulting, severance or similar agreements or arrangements with any of its directors, officers or employees or those of its subsidiaries or grant any salary or wage increase or increase any employee benefit (including incentive or bonus payments), except (1) for normal individual increases in compensation to employees (other than executive officers or directors) in the ordinary course of business consistent with past practice, (2) for other changes that are required by applicable law and (3) to satisfy Previously Disclosed contractual obligations.

  • Employment Position The parties agree that the employment of Executive by Employer shall continue for the term referred to in Section 2. Employer agrees to continue the employment of Executive in a senior officer position for both Employer and Bank with the same titles referenced above. Executive shall devote his full time during business hours to the performance of his duties hereunder and shall at all times use his best efforts to promote the best interests of Employer. Executive shall report to the Chief Executive Officer, or such other senior executive officer of Employer or Bank, as the Chief Executive Officer of Employer, the Chairman of the Board, or the Board of Directors (“Board”) shall direct.

  • Prior Employment Agreement Effective as of the Agreement Date, this Agreement supersedes any prior employment agreement between the Employee and the Company.

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