Common use of Communications to Employees; Training Clause in Contracts

Communications to Employees; Training. (a) Sellers and Purchaser agree that promptly following the execution of this Agreement, meetings shall be held at such location as Purchaser and Sellers shall mutually agree, provided that representatives of Sellers shall be permitted to attend such meetings, to announce Purchaser's proposed acquisition of the Business to the Business Employees. Sellers and Purchaser shall mutually agree as to the scope and content of all communications to the Business Employees, Additional Employees and Business Related Employees. Except as specifically provided in this Section 10.2, in no event shall Purchaser contact any Business Employee, Additional Employee or Business Related Employee without the prior written consent of Sellers, which will not be unreasonably withheld. (b) At mutually agreed upon times following the initial announcement described in Section 10.2(a), Purchaser shall be permitted to meet with the Business Employees, Additional Employees and Business Related Employees to discuss employment opportunities with Purchaser, provided that representatives of Sellers shall be permitted to attend any such meeting. From and after the Final Approval Date, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers may agree, with the Business Employees, Additional Employees and Business Related Employees (if applicable) and may, with Sellers' consent, which will not be unreasonably withheld, conduct such training seminars at the Branches; provided that Purchaser will in good faith attempt to schedule such training sessions in a manner which does not unreasonably interfere with Sellers' normal business operations. Purchaser shall reimburse the Business Employees, Additional Employees and Business Related Employees (if applicable) for transportation costs to and from the locations where Purchaser shall train such employees and compensate the Business Employees, Additional Employees and Business Related Employees (if applicable) or reimburse Sellers at the Business Employees, Additional Employees and Business Related Employees (if applicable) respective applicable standard or overtime rates for the time spent in such training.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Sovereign Bancorp Inc)

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Communications to Employees; Training. (a) Sellers and Purchaser agree that promptly At mutually agreed upon times following the execution initial announcement of the transactions contemplated by this Agreement, meetings Purchaser shall be held at permitted to meet with the Employees to conduct introductory meetings and discuss matters relating to the transition of employment to Purchaser, such location as Purchaser and Sellers shall mutually agreebenefits enrollment, provided that representatives one or more Representatives of Sellers Seller or its Affiliates shall be permitted to attend such meetings, to announce Purchaser's proposed acquisition of the Business to the Business Employees. Sellers and Purchaser The Parties shall mutually agree as to the scope and content of all communications to the Business Employees, Additional Employees and Business Related Employees. Except as specifically provided in this Section 10.29.2(a), in no event prior to the Final Approval Date shall Purchaser contact any Business Employee, Additional Employee or Business Related Employee without the prior written consent of SellersSeller, which will not consent may be unreasonably withheldgranted in Seller’s sole discretion. (b) At mutually agreed upon times following the initial announcement described in Section 10.2(a)of the transactions contemplated by this Agreement, Purchaser shall be permitted to meet with the Business Employees, Additional Employees and Business Related Employees to discuss employment opportunities with Purchaser, provided that representatives one of Sellers more Representatives of Seller or its Affiliates shall be permitted to attend any such meetingmeetings. From and after the Final Approval Date, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers Seller may agree, with the Business Employees, Additional Employees and Business Related Employees agree (if applicable) and may, with Sellers' consent, which will agreement shall not be unreasonably withheld, conditioned or delayed), with the Employees and may, in Seller’s sole discretion, conduct such training seminars at any Branch or the BranchesXxxxxxx Xxxxxx; provided that Purchaser will must in good faith attempt to schedule such training sessions in a manner which does not unreasonably interfere with Sellers' Seller’s normal business operations. Purchaser shall reimburse the Business Employees, Additional Employees and Business Related Employees (if applicable) for transportation costs to and from the locations where Purchaser shall may train such employees Employees, to the extent such trainings are not conducted at the Employee’s customary work locations, and compensate the Business Employees, Additional Employees and Business Related Employees (if applicable) or reimburse Sellers Seller at the Business Employees, Additional Employees and Business Related Employees (if applicable) each Employee’s respective applicable standard or overtime rates for the time spent in such trainingtraining and traveling to such training to the extent such overtime and travel pay is required by applicable federal or state law or consistent with the past practice of Seller. Such transportation costs shall be reimbursed according to the standard mileage rate provided in the IRS regulations.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Bar Harbor Bankshares)

Communications to Employees; Training. (a) Sellers and Purchaser agree that promptly following the execution of this Agreement, meetings shall be held at such location as Purchaser and Sellers shall mutually agree, provided that representatives of Sellers shall be permitted to attend such meetings, to announce Purchaser's proposed acquisition of the Business to the Business Employees. Sellers and Purchaser shall mutually agree as to the scope and content of all communications to the Business Employees, Additional Employees and Business Related Employees. Except as specifically provided in this Section 10.29.2, in no event shall Purchaser contact any Business Employee, Additional Employee or Business Related Employee without the prior written consent of Sellers, which will not be unreasonably withheld. (b) At mutually agreed upon times following the initial announcement described in Section 10.2(a)date hereof, Purchaser shall be permitted to meet with the Business Employees, Additional Employees and Business Related Employees to discuss employment opportunities with Purchaser, provided that representatives of Sellers shall be permitted to attend any such meeting. From and after the Final Approval Date, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers may agree, with the Business Employees, Additional Employees and Business Related Employees (if applicable) and may, with Sellers' consent, which will not be unreasonably withheld, conduct such training seminars at the Branches; provided that Purchaser will in good faith attempt to schedule such training sessions in a manner which does not unreasonably interfere with Sellers' normal business operations. Purchaser shall reimburse the Business Employees, Additional Employees and Business Related Employees (if applicable) for transportation costs to and from the locations where Purchaser shall train such employees and compensate the Business Employees, Additional Employees and Business Related Employees (if applicable) or reimburse Sellers at the Business Employees, Additional Employees and Business Related Employees (if applicable) respective applicable standard or overtime rates for the time spent in such training.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Sovereign Bancorp Inc)

Communications to Employees; Training. (a) Sellers At times mutually agreed to, Seller and Purchaser may make public announcement of the transaction and file such documents with the Securities and Exchange Commission (“SEC”) in accordance with applicable securities laws. Seller and Purchaser agree that promptly no sooner than five (5) days following the execution public announcement of this Agreementthe transaction, meetings shall may be held at the Branches on such location date and at such time as Purchaser and Sellers Seller shall mutually agree, provided that to allow a representatives of Sellers shall be permitted to attend such meetings, Seller and Purchaser to announce Purchaser's ’s proposed acquisition of the Business Branches and Purchased Assets to the Business Bank Employees. Sellers Seller and Purchaser shall mutually agree as to the date and time of such meeting, and the scope and content of all communications to the Business Employees, Additional Employees and Business Related Bank Employees. Except as specifically provided in Section 8.15 and in this Section 10.28.16, in no event shall Purchaser contact any Business Employee, Additional Employee or Business Related Bank Employee without the prior written consent of SellersXxxxx Xxxxxxx, which will consent may not be unreasonably withheld, except those Bank Employees designated in writing by Seller to handle certain transition issues. (b) At times mutually agreed upon times to by Seller and Purchaser following the initial announcement described in Section 10.2(a8.16(a), Purchaser shall be permitted to meet with the Business Employees, Additional Employees and Business Related Bank Employees to discuss employment opportunities with Purchaser, provided that representatives of Sellers Seller shall be permitted to attend any such meeting. From and after the Final Approval DateOctober 1, 2007, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers Seller may agree, with the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) and may, with Sellers' consent, which will not be unreasonably withheldat Seller’s sole option, conduct such training seminars at the Branches; provided that Purchaser will in good faith attempt to shall schedule such training sessions in a manner which does not unreasonably interfere with Sellers' Seller’s normal business operations. Purchaser shall reimburse the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) for reasonable transportation costs to and from the locations where Purchaser shall train such employees and compensate the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) or reimburse Sellers Seller at the Business Employees, Additional Employees and Business Related Employees (if applicable) respective Bank applicable standard or overtime rates for the time spent in such training. Purchaser shall be entitled to review the complete employee records and files of any employee at the Branches.

Appears in 1 contract

Samples: Purchase Agreement (First Niagara Financial Group Inc)

Communications to Employees; Training. (a) Sellers and Purchaser agree that promptly following the execution of this Agreement, meetings shall be held at such location as Purchaser and Sellers shall mutually agree, provided that representatives of Sellers shall be permitted to attend such meetings, meetings to announce Purchaser's ’s proposed acquisition of the Business Purchased Assets to the Business Branch Employees. Sellers and Purchaser shall mutually agree as to the scope and content of all communications to the Business Employees, Additional Employees and Business Related Branch Employees. Except as specifically provided in this Section 10.2, in no event shall Purchaser contact any Business Employee, Additional Employee or Business Related Branch Employee without the prior written consent of Sellers, which will consent shall not unreasonably be unreasonably withheldwithheld or delayed. (b) At mutually agreed upon times following the initial announcement described in Section 10.2(a), Purchaser shall be permitted to meet with the Business Employees, Additional Employees and Business Related Branch Employees to discuss employment opportunities with Purchaser, provided that representatives of Sellers shall be permitted to attend any such meeting. From and after the Final Approval Date, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers may agree, agree with the Business Employees, Additional Branch Employees and Business Related Employees (if applicable) and may, with at Sellers' consent, which will not be unreasonably withheld’ sole option, conduct such training seminars at the Branches; provided that Purchaser will in good faith attempt to schedule such training sessions in a manner which does not unreasonably interfere with Sellers' normal business operations. Purchaser shall reimburse the Business Employees, Additional Branch Employees and Business Related Employees (if applicable) for transportation costs to and from the locations location where Purchaser shall train such employees and compensate the Business Employees, Additional Branch Employees and Business Related Employees (if applicable) or reimburse Sellers at the Business Employees, Additional Branch Employees and Business Related Employees (if applicable) respective applicable standard or overtime rates for the time spent in such training.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Cib Marine Bancshares Inc)

Communications to Employees; Training. (a) Sellers Seller and Purchaser agree that promptly following the execution of this Agreement, meetings shall may be held at the Branches on such location date and at such time as Purchaser and Sellers Seller shall mutually agree, provided that to allow a representatives of Sellers shall be permitted to attend such meetings, Seller and Purchaser to announce Purchaser's ’s proposed acquisition of the Business Branches and Purchased Assets to the Business Bank Employees. Sellers Seller and Purchaser shall mutually agree as to the date and time of such meeting, and the scope and content of all communications to the Business Employees, Additional Employees and Business Related Bank Employees. Except as specifically provided in Section 8.13 and in this Section 10.28.14, in no event shall Purchaser contact any Business Employee, Additional Employee or Business Related Bank Employee without the prior written consent of Sellersthe Chief Financial Officer of Seller, which will consent may not be unreasonably withheld, except those Bank Employees designated in writing by Seller to handle certain transition issues. (b) At times mutually agreed upon times to by Seller and Purchaser following the initial announcement described in Section 10.2(a8.14(a), Purchaser shall be permitted to meet with the Business Employees, Additional Employees and Business Related Bank Employees to discuss employment opportunities with Purchaser, provided that representatives of Sellers Seller shall be permitted to attend any such meeting. From and after the Final Approval Date, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers Seller may agree, with the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) and may, with Sellers' consent, which will not be unreasonably withheldat Seller’s sole option, conduct such training seminars at the Branches; provided that Purchaser will in good faith attempt to shall schedule such training sessions in a manner which does not unreasonably interfere with Sellers' Seller’s normal business operations. Purchaser shall reimburse the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) for reasonable transportation costs to and from the locations where Purchaser shall train such employees and compensate the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) or reimburse Sellers Seller at the Business Employees, Additional Employees and Business Related Employees (if applicable) respective Bank applicable standard or overtime rates for the time spent in such training.

Appears in 1 contract

Samples: Purchase Agreement (Great Lakes Bancorp, Inc.)

Communications to Employees; Training. (a) Sellers Seller and Purchaser agree that promptly following the execution of this Agreement, meetings shall be held at such location as Purchaser and Sellers Seller shall mutually agree, provided that one or more representatives of Sellers Seller or its Affiliates shall be permitted to attend such meetings, to announce Purchaser's ’s proposed acquisition of the Business to the Business Employees. Sellers Seller and Purchaser shall mutually agree as to the scope and content of all communications to the Business Employees, Additional Employees and Business Related Employees. Except as specifically provided in this Section 10.210.2(a), in no event prior to the Closing shall Purchaser contact any Business Employee, Additional Employee or Business Related Employee without the prior written consent of Sellers, which will not be unreasonably withheldSeller. (b) At mutually agreed upon times following the initial announcement described in Section 10.2(a), Purchaser shall be permitted to meet with the Business Employees, Additional Employees and Business Related Employees to discuss employment opportunities with Purchaser, provided that one of more representatives of Sellers Seller or its Affiliates shall be permitted to attend any such meetingmeetings. From and after the Final Approval Date, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers Seller may agree, with the Business Employees, Additional Employees and Business Related Employees (if applicable) and may, with Sellers' consent, which will not be unreasonably withheldin Seller’s sole discretion, conduct such training seminars at the Branches; provided that Purchaser will must in good faith attempt to schedule such training sessions in a manner which does not unreasonably interfere with Sellers' Seller’s normal business operations. Purchaser shall reimburse the Business Employees, Additional Employees and Business Related Employees (if applicable) for transportation costs to and from the locations where Purchaser shall train such employees and compensate the Business Employees, Additional Employees and Business Related Employees (if applicable) or reimburse Sellers Seller at the Business Employees, Additional Employees and Business Related Employees (if applicable) respective applicable standard or overtime rates for the time spent in such training and traveling to such training.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Community Bank System Inc)

Communications to Employees; Training. (a) Sellers Seller and Purchaser agree that promptly following the execution of this Agreement, meetings shall may be held at the Branch on such location date as Purchaser and Sellers Seller shall mutually agree, provided that to allow a representatives of Sellers shall be permitted to attend such meetings, Seller and Purchaser to announce Purchaser's proposed acquisition of the Business to the Business Bank Employees. Sellers Seller and Purchaser shall mutually agree as to the scope and content of all communications to the Business Employees, Additional Employees and Business Related Bank Employees. Except as specifically provided in Section 10.1 and in this Section 10.2, in no event shall Purchaser contact any Business Employee, Additional Employee or Business Related Bank Employee without the prior written consent of SellersSeller, which will consent may not be unreasonably withheldwithheld except those Bank Employees designated in writing by Seller to handle certain transition issues. (b) At mutually agreed upon times following the initial announcement described in Section 10.2(a), Purchaser shall be permitted to meet with the Business Employees, Additional Employees and Business Related Bank Employees to discuss employment opportunities with Purchaser, provided that representatives of Sellers Seller shall be permitted to attend any such meeting. From and after the Final Approval Date, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers Seller may agree, with the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) and may, with Sellers' consent, which will not be unreasonably withheldat Seller's sole option, conduct such training seminars at the BranchesBranch; provided that Purchaser will in good faith attempt to schedule such training sessions in a manner which does not unreasonably interfere with Sellers' Seller's normal business operations. Purchaser shall reimburse the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) for reasonable transportation costs to and from the locations where Purchaser shall train such employees and compensate the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) or reimburse Sellers Seller at the Business Employees, Additional Employees and Business Related Employees (if applicable) respective Bank applicable standard or overtime rates for the time spent in such training.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Bar Harbor Bankshares)

Communications to Employees; Training. (a) Sellers and Purchaser agree that promptly following the execution of this Agreement, meetings shall be held at such location as Purchaser and Sellers shall mutually agree, provided that representatives of Sellers shall be permitted to attend such meetings, to announce Purchaser's proposed acquisition of the Business to the Business Consumer Bank Employees. Sellers and Purchaser shall mutually agree as to the scope and content of all communications to the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees. Except as specifically provided in this Section 10.2, in no event shall Purchaser contact any Business Employee, Additional Consumer Bank Employee or Business Consumer Bank Related Employee without the prior written consent of Sellers which consent may be granted or withheld in Sellers, which will not be unreasonably withheld' sole discretion. (b) At mutually agreed upon times following the initial announcement described in Section 10.2(a), Purchaser shall be permitted to meet with the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees to discuss employment opportunities with Purchaser, provided that representatives of Sellers shall be permitted to attend any such meeting. From and after the Final Approval Date, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers may agree, with the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees (if applicable) and may, with at Sellers' consent, which will not be unreasonably withheldsole option, conduct such training seminars at the Branches; provided that Purchaser will in good faith attempt to schedule such training sessions in a manner which does not unreasonably interfere with Sellers' normal business operations. Purchaser shall reimburse the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees (if applicable) for transportation costs to and from the locations where Purchaser shall train such employees and compensate the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees (if applicable) or reimburse Sellers at the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees (if applicable) respective applicable standard or overtime rates for the time spent in such training.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Independent Bank Corp)

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Communications to Employees; Training. (a) Sellers Seller and Purchaser agree that promptly following the execution of this Agreement, meetings shall be held at such location as Purchaser and Sellers Seller shall mutually agree, provided that representatives of Sellers Seller shall be permitted to attend such meetings, to announce Purchaser's proposed acquisition of the Business Purchased Assets to the Business Branch Employees. Sellers Seller and Purchaser shall mutually agree as to the scope and content of all communications to the Business Employees, Additional Employees and Business Related Branch Employees. Except as specifically provided in this Section 10.2, in no event shall Purchaser contact any Business Employee, Additional Employee or Business Related Branch Employee without the prior written express consent of SellersSeller, which consent will not be unreasonably withheldwithheld or delayed. (b) At mutually agreed upon times following the initial announcement described in Section 10.2(a), Purchaser shall be permitted to meet with the Business Employees, Additional Employees and Business Related Branch Employees to discuss employment opportunities with Purchaser, provided that representatives of Sellers shall be permitted to attend any such meeting. From and after the Final Approval Date, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers Seller may agree, agree with the Business Employees, Additional Branch Employees and Business Related Employees (if applicable) and may, with Sellers' consent, which will not be unreasonably withheldat Seller's option, conduct such training seminars at the Branches; provided that Purchaser will in good faith attempt to schedule such training sessions in a manner which that does not unreasonably interfere with Sellers' Seller's normal business operations. Purchaser shall reimburse the Business Employees, Additional Branch Employees and Business Related Employees (if applicable) for transportation costs to and from the locations location where Purchaser shall train such employees and compensate the Business Employees, Additional Branch Employees and Business Related Employees (if applicable) or reimburse Sellers Seller at the Business Employees, Additional Branch Employees and Business Related Employees (if applicable) respective applicable standard or overtime rates for the time spent in such training.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Independent Bank Corp /Mi/)

Communications to Employees; Training. (a) Sellers Seller and Purchaser agree that promptly following the execution of this Agreement, meetings shall may be held at the Branches on such location date and at such time as Purchaser and Sellers Seller shall mutually agree, provided that to allow a representatives of Sellers shall be permitted to attend such meetings, Seller and Purchaser to announce Purchaser's proposed acquisition of the Business Branches and Purchased Assets to the Business Bank Employees. Sellers Seller and Purchaser shall mutually agree as to the date and time of such meeting, and the scope and content of all communications to the Business Employees, Additional Employees and Business Related Bank Employees. Except as specifically provided in Section 8.15 and in this Section 10.28.16, in no event shall Purchaser contact any Business Employee, Additional Employee or Business Related Bank Employee without the prior written consent of SellersXxxxx Xxxxxxx, which will consent may not be unreasonably withheld, except those Bank Employees designated in writing by Seller to handle certain transition issues. (b) At times mutually agreed upon times to by Seller and Purchaser following the initial announcement described in Section 10.2(a8.16(a), Purchaser shall be permitted to meet with the Business Employees, Additional Employees and Business Related Bank Employees to discuss employment opportunities with Purchaser, provided that representatives of Sellers Seller shall be permitted to attend any such meeting. From and after the Final Approval Date, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers Seller may agree, with the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) and may, with Sellers' consent, which will not be unreasonably withheldat Seller's sole option, conduct such training seminars at the Branches; provided that Purchaser will in good faith attempt to shall schedule such training sessions in a manner which does not unreasonably interfere with Sellers' Seller's normal business operations. Purchaser shall reimburse the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) for reasonable transportation costs to and from the locations where Purchaser shall train such employees and compensate the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) or reimburse Sellers Seller at the Business Employees, Additional Employees and Business Related Employees (if applicable) respective Bank applicable standard or overtime rates for the time spent in such training.

Appears in 1 contract

Samples: Purchase Agreement (First Niagara Financial Group Inc)

Communications to Employees; Training. Sovereign shall use its commercially reasonable efforts to cause FNB to agree to the following: (a) Sellers and Purchaser agree that promptly Promptly following the execution of this Agreement, meetings shall be held at such location as Purchaser and Sellers FNB shall mutually agree, provided that representatives of Sellers FNB shall be permitted to attend such meetings, to announce Purchaser's proposed acquisition of the Cape Cod Business to the Business Consumer Bank Employees. Sellers FNB and Purchaser shall mutually agree as to the scope and content of all communications to the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees. Except as specifically provided in this Section 10.2, in no event shall Purchaser contact any Business Employee, Additional Consumer Bank Employee or Business Consumer Bank Related Employee without the prior written consent of Sellers, FNB which will not consent may be unreasonably withheldgranted or withheld in FNB's sole discretion. (b) At mutually agreed upon times following the initial announcement described in Section 10.2(a), Purchaser shall be permitted to meet with the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees to discuss employment opportunities with Purchaser, provided that representatives of Sellers FNB shall be permitted to attend any such meeting. From and after the Final Approval Date, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers FNB may agree, with the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees (if applicable) and may, with Sellers' consent, which will not be unreasonably withheldat FNB's sole option, conduct such training seminars at the Branches; provided that Purchaser will in good faith attempt to schedule such training sessions in a manner which does not unreasonably interfere with Sellers' FNB's normal business operations. Purchaser shall reimburse the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees (if applicable) for transportation costs to and from the locations where Purchaser shall train such employees and compensate the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees (if applicable) or reimburse Sellers FNB at the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees (if applicable) respective applicable standard or overtime rates for the time spent in such training.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Independent Bank Corp)

Communications to Employees; Training. (a) Sellers At times mutually agreed to, Seller and Purchaser may make public announcement of the transaction and file such documents with the Securities and Exchange Commission (“SEC”) in accordance with applicable securities laws. Seller and Purchaser agree that promptly no sooner than five (5) days following the execution public announcement of this Agreementthe transaction, meetings shall may be held at the Branches on such location date and at such time as Purchaser and Sellers Seller shall mutually agree, provided that to allow a representatives of Sellers shall be permitted to attend such meetings, Seller and Purchaser to announce Purchaser's ’s proposed acquisition of the Business Branches and Purchased Assets to the Business Bank Employees. Sellers Seller and Purchaser shall mutually agree as to the date and time of such meeting, and the scope and content of all communications to the Business Employees, Additional Employees and Business Related Bank Employees. Except as specifically provided in Section 8.15 and in this Section 10.28.16, in no event shall Purchaser contact any Business Employee, Additional Employee or Business Related Bank Employee without the prior written consent of SellersPxxxx Xxxxxxx, which will consent may not be unreasonably withheld, except those Bank Employees designated in writing by Seller to handle certain transition issues. (b) At times mutually agreed upon times to by Seller and Purchaser following the initial announcement described in Section 10.2(a8.16(a), Purchaser shall be permitted to meet with the Business Employees, Additional Employees and Business Related Bank Employees to discuss employment opportunities with Purchaser, provided that representatives of Sellers Seller shall be permitted to attend any such meeting. From and after the Final Approval DateOctober 1, 2007, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers Seller may agree, with the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) and may, with Sellers' consent, which will not be unreasonably withheldat Seller’s sole option, conduct such training seminars at the Branches; provided that Purchaser will in good faith attempt to shall schedule such training sessions in a manner which does not unreasonably interfere with Sellers' Seller’s normal business operations. Purchaser shall reimburse the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) for reasonable transportation costs to and from the locations where Purchaser shall train such employees and compensate the Business Employees, Additional Bank Employees and Business Related Employees (if applicable) or reimburse Sellers Seller at the Business Employees, Additional Employees and Business Related Employees (if applicable) respective Bank applicable standard or overtime rates for the time spent in such training. Purchaser shall be entitled to review the complete employee records and files of any employee at the Branches.

Appears in 1 contract

Samples: Purchase Agreement (Legacy Bancorp, Inc.)

Communications to Employees; Training. (a) Sellers Seller and Purchaser agree that promptly following the execution of this Agreement, meetings shall be held at such location as Purchaser and Sellers Seller shall mutually agree, provided that representatives of Sellers Seller shall be permitted to attend such meetings, to announce Purchaser's proposed acquisition of the Business to the Business Consumer Bank Employees. Sellers Seller and Purchaser shall mutually agree as to the scope and content of all communications to the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees. Except as specifically provided in this Section 10.2, in no event shall Purchaser contact any Business Employee, Additional Consumer Bank Employee or Business Consumer Bank Related Employee without the prior written consent of Sellers, Seller which will not consent may be unreasonably withheldgranted or withheld in Seller's sole discretion. (b) At mutually agreed upon times following the initial announcement described in Section 10.2(a), Purchaser shall be permitted to meet with the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees to discuss employment opportunities with Purchaser, provided that representatives of Sellers Seller shall be permitted to attend any such meeting. From and after the Final Approval Date, Purchaser shall also be permitted to conduct training sessions outside of normal business hours or at other times as Sellers Seller may agree, with the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees (if applicable) and may, with Sellers' consent, which will not be unreasonably withheldat Seller's sole option, conduct such training seminars at the Branches; provided that Purchaser will in good faith attempt to schedule such training sessions in a manner which does not unreasonably interfere with Sellers' Seller's normal business operations. Purchaser shall reimburse the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees (if applicable) for transportation costs to and from the locations where Purchaser shall train such employees and compensate the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees (if applicable) or reimburse Sellers Seller at the Business Employees, Additional Consumer Bank Employees and Business Consumer Bank Related Employees (if applicable) respective applicable standard or overtime rates for the time spent in such training.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Enterprise Bancorp Inc /Ma/)

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