Examples of Employee on Disability Leave in a sentence
Each Employee on Disability Leave who accepts such offer and actually returns to work shall be considered a Transferred Employee, effective as of the date of such return, which shall be such employee’s Transfer Time.
In the case of any Employee on Disability Leave, Parent and its affiliates will comply with all applicable laws relating to the payment to such employee of a prorated annual bonus with respect to the period that precedes the Distribution Date.
Notwithstanding anything herein to the contrary, Parent and its affiliates shall remain responsible for any and all liabilities relating to the employment and/or re-employment of any Business Employee who terminates employment with Parent and its affiliates prior to the Distribution Date or who is an Employee on Disability Leave and does not present himself or herself for active employment on or prior to the earlier of the dates set forth in clauses (i) and (ii) above.
Parent shall make a prorated annual bonus payment to each Transferred Employee (other than any Employee on Disability Leave), the amount (if any) of which shall equal the product of such Transferred Employee’s annual bonus amount (as described in the immediately following sentence) multiplied by a fraction, the numerator of which is the number of days in the calendar year during which the Distribution Date occurs that elapse prior to the Distribution Date, and the denominator of which is 365.
Except as otherwise required by applicable Law, for a period of six (6) months following the Closing Date, effective on the date on which an Employee on Disability Leave presents himself or herself to the Acquiror and its Affiliates for active employment, in each case within six (6) months following the Closing Date, the Acquiror shall, or shall cause its Affiliates to, make an offer of employment to such Employee on Disability Leave.
The date of such return shall be considered the “Transfer Date” of each such Employee on Disability Leave, and the Effective Time shall be considered the Transfer Date for each other Transferred Employee.
Each Employee on Disability Leave who accepts such offer and actually returns to work not later than one year after the Closing Date shall be considered a Transferred Employee, effective as of the date of such return (the date of such return shall be considered the “Transfer Date” of each such employee, and the Closing Date shall be considered the Transfer Date for each other Transferred Employee).
Such offer shall be made following BUYER’s receipt of a medical authorization that releases the Employee on Disability Leave to return to work within the first year following the Closing Date.
In the case of any Employee on Disability Leave who becomes a Transferred Employee, Seller and its Affiliates shall comply with all applicable Laws and any applicable provision of any applicable plan relating to the payment to such employee of a prorated annual bonus with respect to the period that precedes the applicable Closing Date.
Without limiting the generality of the foregoing, the Acquiror and the Sellers acknowledge and agree that such assumption includes all post-Closing obligations and Liabilities under the terms of the applicable Assumed Employee Plan with respect to each individual who is, as of the Closing, an Employee on Disability Leave, to the extent such individual becomes a Transferred Employee in accordance with the terms of this Article VI.