No Assumption of Employee Obligations Sample Clauses

No Assumption of Employee Obligations. Buyer will not be obligated to assume or pay and Seller hereby agrees to assume or pay any employee benefit (statutory or otherwise) or compensation plan or arrangement or portion thereof, bonus obligations except as otherwise agreed by the parties hereto, severance obligations or any other obligations that may become payable as a result of the consummation of the transactions contemplated by this Agreement applicable to any employees or agents of the Business or as a result of service with Seller until the Closing Date.
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No Assumption of Employee Obligations. Buyer shall not assume any liability or obligation of Seller with respect to any of Seller's employees located at the Soledad Facilities, including, but not limited to, any of Seller's obligations under any employee arrangements, union agreements or benefit plans.
Sample 1
No Assumption of Employee Obligations. Except to the extent ------------------------------------- expressly set out in this Section 8.2 or included in the Assumed Liabilities, Buyer does not, and shall not, assume or be responsible for any obligation or liability arising out of any employment relationship of Sellers, or any of them, and without limiting the foregoing, Buyer shall have no liability or obligation in connection with current or former employees or agents of Sellers or any dependent or beneficiary of any of them by reason of their relationship to Sellers, or any of them, for the following: (i) unpaid wages, salaries or other compensation; (ii) contributions to or payments under employee benefit plans, programs, policies, arrangements or understandings; (iii) accrued, but unused vacation, holiday, sick leave and severance pay, if any; (iv) liabilities or obligations under any collective bargaining agreement or bargaining relationship; or (v) claims, demands, administrative proceedings or suits arising out of, or in connection with, alleged unlawful employment practices of Sellers, or any of them.
Sample 1

Related to No Assumption of Employee Obligations

  • Employee Obligations The Parties shall undertake to ensure that all their employees who have access to Confidential Information of the other Party are under obligations of confidentiality fully consistent with those provided in this Article.

  • Termination of Employment and Options Vested Options shall terminate, to the extent not previously exercised, upon the occurrence of the first of the following events:

  • No Obligation of Employment Employee understands that the employment relationship between Employee and Teradyne will be “at will” and Employee understands that, prior to any Change in Control, Teradyne may terminate Employee with or without “Cause” at any time, including in contemplation of a Change in Control. Following any Change in Control, Teradyne may also terminate Employee with or without “Cause” at any time subject to Employee’s rights and Teradyne’s obligations specified in this Agreement.

  • Termination of Employee Plans The Company shall have provided Parent with evidence, reasonably satisfactory to Parent, as to the termination of the benefit plans referred to in Section 5.9.

  • Obligations of Employee Employee agrees that upon termination of employment he will turn over to the Company all materials and documents, whether written or electronic, that pertain to the operation, products, services, processes, plans, business or customers of the Company. Employee also agrees not to disclose to any person any confidential information of the Company. If the Employee fails to return materials required to be returned or discloses confidential information of the Company to any person, all payments and benefits still remaining to be paid or offered to the Employee under this Agreement shall be forfeited.

  • Nature of Employment and Obligations (a) Nothing contained herein shall be deemed to create other than a terminable at will employment relationship between the Employers and the Executive, and the Employers may terminate the Executive's employment at any time, subject to providing any payments specified herein in accordance with the terms hereof.

  • Obligation of Executive In the event of a tender or exchange offer, proxy contest, or the execution of any agreement which, if consummated, would constitute a Change in Control, Executive agrees not to voluntarily leave the employ of the Company, other than as a result of Disability, Retirement or an event which would constitute Good Reason if a Change in Control had occurred, until the Change in Control occurs or, if earlier, such tender or exchange offer, proxy contest, or agreement is terminated or abandoned.

  • Termination of Employment and Severance Benefits The Executive’s employment hereunder shall terminate under the following circumstances:

  • Termination of Employees At closing the Vendor will terminate the employment of all employees to whom the Purchaser has made an offer of employment under section 8.1 and will indemnify and save harmless the Purchaser from and against all claims by any employee of the Vendor for wages, salaries, bonuses, pension or other benefits, severance pay, notice or pay in lieu of notice and holiday pay in respect of any period before closing.

  • Termination of Employment The Executive’s employment hereunder shall terminate under the following circumstances:

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