Examples of Baxter Group in a sentence
Notwithstanding the foregoing, to the extent a Non-U.S. Baxter Benefit Plan is not required to be funded by applicable Law or is not voluntarily funded, there shall be no transfer of Assets by the Non-U.S. Baxter Benefit Plan or by the Baxter Group in respect thereof.
The bonuses attributable to such separate performance period earned by Transferred Employees shall be paid by Baxalta at substantially the same time such bonuses are paid to Baxter Retained Employees, and to the extent that payment is conditioned upon continued employment, employment by the Baxalta Group shall be treated as employment by the Baxter Group.
Baxter shall retain all Assets (including, without limitation, rights to dividends and similar items) with respect to employee benefits-related pooling contracts to which any member of the Baxter Group is a party or under which any member of the Baxter Group pays the premiums.
Nothing in this Agreement, whether express or implied, shall be construed to: (a) confer upon any current or former Employee of the Baxter Group or the Baxalta Group, or any other person any rights or remedies, including, but not limited to any right to (i) employment or recall; (ii) continued employment or continued service for any specified period; or (iii) claim any particular compensation, benefit or aggregation of benefits, of any kind or nature; or (b) create, modify, or amend any Benefit Plan.
Baxter may assign this Agreement to any member of the Baxter Group or at any time in connection with a sale or acquisition of Baxter, whether by merger, consolidation, sale of all or substantially all of Xxxxxx’x assets, or similar transaction, without the consent of Baxalta.
The Parties acknowledge and agree that a cash payment in respect of surplus life insurance premiums paid prior to the Distribution Date is expected to be received by the Baxter Group in late 2015 or early 2016.
To the extent required by applicable Law or any contract or arrangement with a labor union, works council or similar employee organization, Baxalta shall provide notice, engage in consultation and take any similar action which may be required after the Distribution Date on its part in connection with the Separation and shall fully indemnify each member of the Baxter Group against any Liabilities arising from its failure to comply with such requirements.
Unless expressly provided otherwise in this Agreement, nothing herein shall be construed as a limitation on the right of the Baxter Group or the Baxalta Group to (a) amend, modify or terminate any Benefit Plan or (b) terminate the employment of any Employee.
Effective as of the Distribution Date, the Baxter Group shall be entitled to all Employee Recoupment Assets in respect of Baxter Retained Employees and Former Employees, and effective as of the applicable Transfer Date, the Baxalta Group shall be entitled to all Employee Recoupment Assets in respect of Baxalta Employees.
Except as otherwise expressly provided in this Agreement or to the extent it would result in a duplication of benefits, Baxalta and each Baxalta Benefit Plan shall, to the extent permitted in accordance with applicable Law, give each Transferred Employee credit for all service with the Baxter Group and shall calculate such service as it would be calculated by Baxter or under the corresponding Baxter Benefit Plan as of the applicable Transfer Date.