VACATION, HOLIDAY, SICK AND SEVERANCE PAY Sample Clauses

VACATION, HOLIDAY, SICK AND SEVERANCE PAY. As of the Closing Date, Buyer shall assume all of Seller's obligations for unused vacation (including accrued vacation), holiday and sick (including accrued sick) pay payable to all Transferred Employees. Following the Closing Date, Buyer and/or its Affiliates may elect to adopt their own policies for vacation, holiday, sick pay and other related matters in respect of the Transferred Employees as set forth in Schedule 9.3. Nothing contained herein shall be deemed to limit or restrict the ability of Buyer, in its sole discretion, to at any time following the Closing Date, amend, change or terminate any such policies. For purposes of this Section 9.3, Transferred Employees shall not include any employee covered by any applicable collective bargaining agreement or any employee of Mexico Sub.
Sample 1
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VACATION, HOLIDAY, SICK AND SEVERANCE PAY. As of the Closing Date, Buyer shall assume all of Sellers' obligations for vacation (including accrued vacation), holiday, sick (including accrued sick) and severance (if any) pay to all Business Employees. By virtue of acquiring the stock of Coil Company, Buyer automatically assumes all of such liabilities as to the Business Employees of Coil Company, including Business Employees of Coil Company who formerly were employees of Glasmex. Buyer acknowledges that such liabilities as to such employees of Glasmex were not and will not be discharged in connection with their transfer of employment to Coil Company.
Sample 1
VACATION, HOLIDAY, SICK AND SEVERANCE PAY. As of the Closing Date, Purchaser shall integrate the Transferred Employees into its vacation, holiday and sick pay policies. The Company shall be responsible for all the Company's obligations with respect to sick, vacation, holiday or severance pay for (i) any Excluded Employee, and (ii) any Transferred Employee for any period ending prior to the Closing Date.
Sample 1
VACATION, HOLIDAY, SICK AND SEVERANCE PAY. As of the Closing Date, Buyer shall assume the Division Liabilities for vacation, holiday, sick and severance pay to the extent such obligations are reflected in the Final Closing Balance Sheet with respect to all United States Transferred Employees.
Sample 1
VACATION, HOLIDAY, SICK AND SEVERANCE PAY. As of the Closing Date, Buyer shall assume all of Seller's obligations for vacation (including accrued vacation), holiday, sick (including accrued sick) and severance (if any) payable to all Transferred Employees, except under any Stay and Pay Agreement, to the extent such obligations are accrued on the Closing Balance Sheet.
Sample 1
VACATION, HOLIDAY, SICK AND SEVERANCE PAY. As of the Closing Date and the Termination Date, as applicable, Buyer shall assume all of Sellers' obligations for vacation (including accrued vacation), holiday, sick (including accrued sick) and severance (if any) pay to all Business Employees.
Sample 1
VACATION, HOLIDAY, SICK AND SEVERANCE PAY. As of the Closing Date, Seller shall retain all of Seller's obligations for vacation (including accrued vacation), holiday, sick (including accrued sick) and severance pay (if any) payable to all Transferred Employees, who are not covered by the Collective Bargaining Agreement, including those under any "stay and pay agreement." Transferred Employees shall become eligible for Purchaser's vacation, holiday, sick pay and severance pay benefits after the Closing Date. Vacation pay for Transferred Employees subject to the Collective Bargaining Agreement shall be accrued on the Closing Balance Sheet as of the Closing Date in accordance with GAAP.
Sample 1
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Related to VACATION, HOLIDAY, SICK AND SEVERANCE PAY

  • Vacation, Holidays and Sick Leave During the Term, the Executive shall be entitled to paid vacation, paid holidays and sick leave in accordance with the Company's standard policies for its senior executive officers.

  • Vacation; Holidays The Executive shall be entitled to all public holidays observed by the Company and vacation days in accordance with the applicable vacation policies for senior executives of the Company, which shall be taken at a reasonable time or times.

  • Bonus Severance A single, lump sum payment equal to 100% of the Executive’s target annual bonus as in effect for the fiscal year in which the Qualifying CIC Termination occurs, less applicable withholdings.

  • Compensation Other Than Severance Payments 5.1 Following a Change in Control and during the Term, during any period that the Executive fails to perform the Executive's full-time duties with the Company as a result of incapacity due to physical or mental illness, the Company shall pay the Executive's full salary to the Executive at the rate in effect at the commencement of any such period, together with all compensation and benefits payable to the Executive under the terms of any compensation or benefit plan, program or arrangement maintained by the Company during such period (other than any disability plan), until the Executive's employment is terminated by the Company for Disability.

  • Vacation; Benefits During the Term, the Executive shall be eligible for 20 vacation days annually, which shall be accrued and used in accordance with the applicable policies of the Company. During the Term, the Executive shall be eligible to participate in such medical, dental and life insurance, retirement and other plans as the Company may have or establish from time to time on terms and conditions applicable to other senior executives of the Company generally. The foregoing, however, shall not be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established.

  • Severance Pay In the event that your employment is terminated by the Company, except for “Cause” as defined below, you will be eligible to receive the following:

  • Severance Payments; Salary and Benefits The Company agrees to provide Executive with the severance payments and benefits described in Section 4(b) [and Section 4(c)] of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall pay or provide to Executive all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof.

  • Vacation; Sick Leave During the Employment Term, the Executive shall be entitled to not less than four (4) weeks of vacation during each calendar year and sick leave in accordance with the Company’s policies and practices with respect to its executives.

  • Vacations and Sick Leave The Executive shall be entitled to paid annual vacation leave in accordance with the policies as established from time to time by the Board of Directors, which shall in no event be less than four weeks per annum. The Executive shall also be entitled to an annual sick leave benefit as established by the Board for senior management employees of the Bank. The Executive shall not be entitled to receive any additional compensation from the Bank for failure to take a vacation or sick leave, nor shall he be able to accumulate unused vacation or sick leave from one year to the next; provided, however, such Executive may carry forward from year to year a maximum of ten days of unused vacation leave.

  • Severance Payments 6.1 If the Executive's employment is terminated following a Change in Control and during the Term, other than (A) by the Company for Cause, (B) by reason of death or Disability, or (C) by the Executive without Good Reason, then the Company shall pay the Executive the amounts, and provide the Executive the benefits, described in this Section 6.1 ("Severance Payments") and Section 6.2, in addition to any payments and benefits to which the Executive is entitled under Section 5 hereof; provided, however, that the Executive shall not be entitled to the Severance Payments unless and until the Executive (or, in the event of the Executive's death, the executor, personal representative or administrator of the Executive's estate) has signed a written waiver and release substantially in the form set forth on Exhibit A hereto. For purposes of this Agreement, the Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause or by the Executive with Good Reason, if (i) during the Term the Executive's employment is terminated by the Company without Cause following a Potential Change in Control but prior to a Change in Control (whether or not a Change in Control ever occurs) and such termination was at the request or direction of a Person who has entered into an agreement with the Company the consummation of which would constitute a Change in Control, (ii) during the Term the Executive terminates his employment for Good Reason following a Potential Change in Control but prior to a Change in Control (whether or not a Change in Control ever occurs) and the circumstance or event which constitutes Good Reason occurs at the request or direction of such Person or (iii) during the Term the Executive's employment is terminated by the Company without Cause or by the Executive for Good Reason and such termination or the circumstance or event which constitutes Good Reason is otherwise in connection with or in anticipation of a Change in Control (whether or not a Change in Control ever occurs). An Executive will not be considered to have been terminated by reason of the divestiture of a facility, sale or other disposition of a business or business unit, or the outsourcing of a business activity with which the Executive is affiliated, notwithstanding the fact that such divestiture, sale or outsourcing takes place within two years following a Change in Control, if the Executive is offered comparable employment by the successor company and such successor company agrees to assume the Company's obligations to the Executive under this Agreement.

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