Termination and Rehiring. The Sellers and Eagle hereby covenant with the Purchaser to terminate the employment of each of the Employees immediately prior to the Closing. The Purchaser hereby covenants with the Sellers and Eagle to offer (or to cause one of its Subsidiaries or affiliates to offer) substantially all such Employees the opportunity to continue his/her employment, as an “at will” employee similarly situated, with base compensation comparable to that provided to comparable employees of the Purchaser (or its Subsidiaries and/or affiliates) immediately prior to the Closing and with bonus opportunities, incentive compensation and pension and health and welfare benefits comparable to those provided to similarly situated employees of the Purchaser (or its Subsidiaries and/or affiliates) immediately prior to the Closing. Notwithstanding the foregoing, the Purchaser (or its Subsidiaries or affiliates) shall have the right, in the exercise of its or their managerial discretion, to modify compensation, bonus programs, incentive compensation and pension and health and welfare benefits from time to time and to terminate the employment of any Employee. Nothing in this Agreement shall be construed as granting any Employee any rights of continuing employment, compensation or benefits.
Termination and Rehiring a) Prior to May 15, immediately preceding the school year in which the reduction in force will take effect, the employees to be terminated, if any, shall be identified by the Superintendent and their names submitted to the Board for approval and action as required by law to carry into effect such termination.
Termination and Rehiring. Seller shall terminate all of its employees ------------------------ at the Stores as of the Closing Date. Seller shall be solely responsible for complying with any applicable state or federal laws pertaining to Seller's termination of its employees in connection with the transactions contemplated by this Agreement. Buyer may offer employment to any or all of Seller's employees in its discretion commencing on the Closing Date. Buyer shall be permitted to interview any or all of Seller's employees at any time for such purpose.
