Benefits for Transferred Employees Sample Clauses

Benefits for Transferred Employees. Effective as of the Closing Date, except as specifically provided herein, Newco shall cause the Transferred Employees to be eligible to participate in all of the following: (a) The Enron Corp. Group Medical Plan for Active Employees, the Enron Corp. Group Dental Plan for Active Employees, the Enron Corp. Vision Service Plan, the Enron Corp. Accidental Death and Dismemberment Plan, the Enron Corp. Group Life Insurance Plan, the Enron Corp. Long Term Disability Plan and the Enron Corp. Flexible Compensation Plan (including the flexible spending account arrangements thereunder) (the plans described in this item (a) being hereinafter referred to as the “Welfare Plans”); and (b) The Enron Corp. Cash Balance Plan (the “Enron Pension Plan”) and the Enron Corp. Savings Plan (the “Enron Savings Plan”).
Sample 1
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Benefits for Transferred Employees. As of the Closing Date, CIBER shall permit each Transferred Employee who was covered under each Seller Benefit Plan immediately prior to the Closing Date to be covered under the employee benefit plans, programs and arrangements of CIBER, and shall permit such Transferred Employees to roll-over their retirement funds into CIBER's applicable benefit plans; provided that any such rollovers will be contingent upon the representations and warranties made by Seller and the Shareholder in Section 3.19 being accurate in CIBER's reasonable discretion, Seller and the Shareholder delivering a representation letter in the form attached hereto as Exhibit D (the "Plan Representation Letter") and CIBER receiving such other documentation as it deems necessary including, but not limited to, the latest determination letter issued by the Internal Revenue Service in conjunction with the qualification of Seller's 401(k) Plan. Transferred Employees shall continue to participate in Seller's Premium Conversion Plan (medical and Section 125 plan), which shall be assumed by CIBER as of the Effective Date and may be terminated by CIBER at any time in its sole discretion. To the extent permitted under CIBER's employee benefit plan, such plans shall recognize each Transferred Employee's length of service or, if longer, applicable service dates, with Seller for purposes of eligibility to participate, vesting, and waiting periods but not for purposes of benefit accruals.
Sample 1
Benefits for Transferred Employees. New Performance shall use reasonable efforts to permit Employees who accept employment from New Performance, effective as of the Closing Date, to participate in and roll-over their retirement funds into New Performance's applicable benefit plans, if any. New Performance shall use reasonable efforts to provide coverage for Transferred Employees under New Performance's benefit plans and programs, as applicable, as of 12:01 a.m. on the Closing Date. New Performance shall give each Transferred Employee credit for such Transferred Employee's years of most recent continuous service (including time during approved leaves of absences of less than twenty-six (26) weeks) with Journeycraft or Xceed, as applicable, for purpose of determining participation and benefit levels under all of the vacation policies and benefit plans and programs of New Performance, as applicable, unless otherwise prohibited by law or the terms of any of such benefit plans and programs, and shall give each Transferred Employee credit for any accrued vacation time to which each Transferred Employee would be entitled immediately prior to the Closing under Xceed's current vacation policy.
Sample 1
Benefits for Transferred Employees. 89 7.3 Severance Policy and Other Agreements...................... 90 (a) Minimum Severance for Certain Transferred Employees........................................... 90 (b) Severance/Employment Agreements of Transferred Employees........................................... 90 7.4
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Benefits for Transferred Employees. Except as hereinafter provided, Buyer shall provide Transferred Employees with such compensation and employee benefits as it provides to similarly situated employees and, except as may be required by applicable law, shall have no obligation to maintain the compensation and employee benefits, either as to amount or type, that were provided to such Transferred Employees prior to the Closing Date. For purposes of eligibility and vesting under employee pension and welfare benefit plans of Buyer, Transferred Employees shall be credited with their service with the Business and with any Subsidiary ("Transferred Service"). Transferred Service shall also apply with respect to such other aspects of employment compensation as vacation entitlement and seniority. Buyer shall pay or contribute as soon as practicable (in light of, among other things, ERISA and tax matters) following the Closing Date the sum of $1.5 million to be allocated directly to or on behalf of those Transferred Employees who, as of the Closing, were participants in the Employees' Retirement Plan of X.X. Xxxx, Inc. (the "Bard U.S. Pension Plan"). Buyer and Seller shall negotiate in good faith an arrangement pursuant to which such contribution will be allocated among such Transferred Employees. From the Closing Date through the end of 1998, Buyer shall continue to provide the same level of medical and other health plan coverage for Transferred Employees in the United States at a cost for such employees that requires a level of employee contributions no greater than that required for such coverage immediately prior to the Closing Date. After the date hereof and prior to the Closing Date, Seller shall give Buyer reasonable access to the Scheduled Employees and employees of the Subsidiaries and Buyer shall use such access to determine the persons to whom stock options of Buyer will be granted and the size of such grants in order to make such grants, if any, as soon as practicable after the Closing Date. Buyer shall not be under any obligation to make any such grants.
Sample 1
Benefits for Transferred Employees. Except as hereinafter provided, Buyer shall provide Transferred Employees with such compensation and employee benefits as it provides to similarly situated employees and, except as may be required by applicable law, shall have no obligation to maintain the compensation and employee benefits, either as to amount or type, that were provided to such Transferred Employees prior to the Closing Date. For purposes of eligibility and vesting under employee pension and welfare benefit plans of Buyer, Transferred Employees shall be credited with their service with the Business and with any Subsidiary ("Transferred Service"). Transferred Service shall also apply with respect to such other aspects of employment compensation as vacation entitlement and seniority. Buyer shall pay or contribute as soon as practicable (in light of, among other things, ERISA and tax matters) following the Closing Date the sum of $1.5 million to be allocated directly to or on behalf of those Transferred Employees who, as of the Closing, were
Sample 1
Benefits for Transferred Employees. Effective as of the Employment Commencement Date , except as specifically provided herein, Buyer shall cause each such Transferred Employee to be eligible to participate in all of Buyer's Employee Benefit Plans, and other employee plans, programs, policies, and practices, including severance, vacation and sick leave, on substantially the same basis as similarly situated employees of Buyer.
Sample 1
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Benefits for Transferred Employees. Generally. Without limiting the generality of the foregoing --------- provisions of Section 10.1: (A) Seller and its Subsidiaries shall be solely responsible for (I) claims for the welfare benefits and for workers' compensation, in each case that are incurred by or with respect to any Transferred Employee and reported before the Closing, (II) claims relating to health continuation coverage required by Section 601 et seq. of the Employee Retirement Income -- --- Security Act of 1974, as amended ("COBRA COVERAGE") attributable to "qualifying events" with respect to any Transferred Employee and his or her beneficiaries and dependents that occur upon or before the Closing, (III) claims for Welfare Benefits and for workers' compensation, in each case that are incurred by or with respect to any Business Employee who does not become a Transferred Employee, whether reported before, upon or after the Closing; and (IV) claims relating to COBRA Coverage attributable to "qualifying events" with respect to any Business Employee who does not become a Transferred Employee and his or her beneficiaries and dependents, whether occurring before, upon or after the Closing; and (ii) Purchaser and its Subsidiaries shall be solely responsible for (A) claims for Welfare Benefits and for workers compensation, in each case that are incurred by or with respect to any Transferred Employee and reported upon or after the Closing Date, and (B) claims relating to COBRA Coverage attributable to "qualifying events" with respect to any Transferred Employee and his or her beneficiaries and dependents that occur after the Closing.
Sample 1

Related to Benefits for Transferred Employees

  • Transferred Employees Effective as of the Closing Date, Purchaser or one of its Affiliates shall make an offer of employment to each Applicable Employee. Notwithstanding anything herein to the contrary and except as provided in an individual employment Contract with any Applicable Employee or as required by the terms of an Assumed Plan, offers of employment to Applicable Employees whose employment rights are subject to the UAW Collective Bargaining Agreement as of the Closing Date, shall be made in accordance with the applicable terms and conditions of the UAW Collective Bargaining Agreement and Purchaser’s obligations under the Labor Management Relations Act of 1974, as amended. Each offer of employment to an Applicable Employee who is not covered by the UAW Collective Bargaining Agreement shall provide, until at least the first anniversary of the Closing Date, for (i) base salary or hourly wage rates initially at least equal to such Applicable Employee’s base salary or hourly wage rate in effect as of immediately prior to the Closing Date and (ii) employee pension and welfare benefits, Contracts and arrangements that are not less favorable in the aggregate than those listed on Section 4.10 of the Sellers’ Disclosure Schedule, but not including any Retained Plan, equity or equity-based compensation plans or any Benefit Plan that does not comply in all respects with TARP. For the avoidance of doubt, each Applicable Employee on layoff status, leave status or with recall rights as of the Closing Date, shall continue in such status and/or retain such rights after Closing in the Ordinary Course of Business. Each Applicable Employee who accepts employment with Purchaser or one of its Affiliates and commences working for Purchaser or one of its Affiliates shall become a “Transferred Employee.” To the extent such offer of employment by Purchaser or its Affiliates is not accepted, Sellers shall, as soon as practicable following the Closing Date, terminate the employment of all such Applicable Employees. Nothing in this Section 6.17(a) shall prohibit Purchaser or any of its Affiliates from terminating the employment of any Transferred Employee after the Closing Date, subject to the terms and conditions of the UAW Collective Bargaining Agreement. It is understood that the intent of this Section 6.17(a) is to provide a seamless transition from Sellers to Purchaser of any Applicable Employee subject to the UAW Collective Bargaining Agreement. Except for Applicable Employees with non- standard individual agreements providing for severance benefits, until at least the first anniversary of the Closing Date, Purchaser further agrees and acknowledges that it shall provide to each Transferred Employee who is not covered by the UAW Collective Bargaining Agreement and whose employment is involuntarily terminated by Purchaser or its Affiliates on or prior to the first anniversary of the Closing Date, severance benefits that are not less favorable than the severance benefits such Transferred Employee would have received under the applicable Benefit Plans listed on Section 4.10 of the Sellers’ Disclosure Schedule. Purchaser or one of its Affiliates shall take all actions necessary such that Transferred Employees shall be credited for their actual and credited service with Sellers and each of their respective Affiliates, for purposes of eligibility, vesting and benefit accrual (except in the case of a defined benefit pension plan sponsored by Purchaser or any of its Affiliates in which Transferred Employees may commence participation after the Closing that is not an Assumed Plan), in any employee benefit plans (excluding equity compensation plans or programs) covering Transferred Employees after the Closing to the same extent as such Transferred Employee was entitled as of immediately prior to the Closing Date to credit for such service under any similar employee benefit plans, programs or arrangements of any of Sellers or any Affiliate of Sellers; provided, however, that such crediting of service shall not operate to duplicate any benefit to any such Transferred Employee or the funding for any such benefit. Such benefits shall not be subject to any exclusion for any pre-existing conditions to the extent such conditions were satisfied by such Transferred Employees under a Parent Employee Benefit Plan as of the Closing Date, and credit shall be provided for any deductible or out-of-pocket amounts paid by such Transferred Employee during the plan year in which the Closing Date occurs.

  • Affected Employees 6.8(a) Affiliate............................................................................... 5.1(a)(iii) Agreement...............................................................................

  • Newly Hired Employees All employees hired to an insurance eligible position must make their benefit elections by their initial effective date of coverage as defined in this Article, Section 5C. Insurance eligible employees will automatically be enrolled in basic life coverage. If employees eligible for a full Employer Contribution do not choose a health plan administrator and a primary care clinic by their initial effective date, and do not waive medical coverage, they will be enrolled in a Benefit Level Two clinic (or Level One, if available) that meets established access standards in the health plan with the largest number of Benefit Level One and Two clinics in the county of the employee’s residence at the beginning of the insurance year. If an employee does not choose a health plan administrator and primary care clinic by their initial effective date, but was previously covered as a dependent immediately prior to their initial effective date, they will be defaulted to the plan administrator and primary care clinic in which they were previously enrolled.

  • Continuing Employees “Continuing Employees” is defined in Section 6.4 of the Agreement.

  • Rehired Employees Amounts forfeited upon termination of employment because of the failure to meet the applicable vesting requirements shall not be reinstated or re-credited if an individual is subsequently rehired or re-employed by the School Corporation. However, if the board shall have approved a leave of absence of not more than one (1) fiscal year for an employee, such period of leave shall not result in forfeiture provided the employee shall promptly return to employment following the expiration of the period of leave.

  • Company Employees Each Party shall not, directly or indirectly solicit for employment, any employee of the other Party who has been directly involved in the performance of this Agreement during the Term and for one year after the earlier of the termination or expiration of this Agreement or the termination of such individual's employment, with the other Party. It shall not be a violation of this provision if any employee responds to a Party's general advertisement of an open position.

  • Probation for Newly Hired Employees (a) The Employer may reject a probationary employee for just cause. A rejection during probation shall not be considered a dismissal for the purpose of Article 11.2

  • Former Employees All Employees terminating service with the Employer during the Plan Year and who have satisfied the eligibility requirements based on the terms of the Employer's accumulated benefits plans checked below (select all that apply; leave blank if no exclusions): a. [ ] The Former Employee must be at least age (e.g., 55) b. [ ] The value of the sick and/or vacation leave must be at least $ (e.g., $2,000) c. [ ] A contribution will only be made if the total hours is over (e.g., 10) hours d. [ ] A contribution will not be made for hours in excess of (e.g., 40) hours

  • Benefits for Part-Time Employees ‌ A part-time employee shall receive in lieu of all fringe benefits (being those benefits to an employee, paid in whole or part by the Hospital, as part of direct compensation or otherwise, including holiday pay, save and except salary, vacation pay, standby pay, call back pay, reporting pay, responsibility allowance, jury and witness duty, bereavement pay, and maternity supplemental unemployment benefits) an amount equal to 14% of his/her regular straight time hourly rate for all straight time hours paid.

  • Displaced Employees In the event of a reduction in the work force, regular employees shall be laid-off in reverse order of seniority, provided that there are available employees with greater seniority who are qualified and willing to do the work of the employees laid-off. An employee who is qualified and yet unwilling to do the work shall be laid-off.

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