BASIC EMPLOYMENT MATTERS Clause Samples

BASIC EMPLOYMENT MATTERS. (a) Effective as of the Closing Date, the Purchaser or an Affiliate of the Purchaser (the "Employer") shall offer to employ, at their then-current rates of base pay, all employees of the Seller employed in the Business on the day before the Closing Date, but excluding (i) any employees who are absent from work due to an approved leave of absence (but excluding any absence reasonably expected to be of short duration taken in accordance with Seller's standard policy for such absences, including, but not limited to, vacation, jury duty, bereavement and illness) or on corrective action or job discontinuance, (ii) any employees identified on Schedule 6.01(a), which the Purchaser agrees to deliver to the Seller at least ten Business Days before the Closing Date, and (iii) at the Employer's discretion, any persons referred to as "excluded employees" in Section 10.04(a)(vi). The employees to whom the Employer is obligated or otherwise elects to offer employment pursuant to the preceding sentence and who accept such employment are referred to collectively herein as the "Employees," which term, unless the context requires otherwise, includes the employees of the Subsidiaries employed in the Business on the Closing Date (it being understood that, as of the Closing and for purposes of this Article VI, such employees of the Subsidiaries will continue to participate in any applicable separate employee benefit and compensation plans maintained by the employing Subsidiary, rather than the Employer's corresponding plan). (b) Notwithstanding anything to the contrary in the foregoing, any employee of the Seller referred to in clause (i) of Section 6.01(a) employed in the Business who is absent from work on the Closing Date due to a leave of absence as referred to above and who, within six months after the commencement of such absence, reports for employment and is able to return to active employment with the Employer, shall be eligible to return to his or her former position if it is then available or, if such position is not available, shall be eligible to seek another position with the Employer for a 30-day period (and shall be offered employment by the Employer for at least such 30-day period at the same rate of base pay); provided, however, that employees referred to in this sentence shall be considered Employees for purposes of this Agreement from and after the time they report for employment and are able to return to active employment with the Purchaser. (c) The Seller...