Continuation of Employees. Seller shall use reasonable efforts to help ensure the employment by Buyer of the four employees of the Business which Buyer wishes to employ.
Continuation of Employees. Midland Development agrees to use reasonable commercial efforts to persuade those of its employees designated by Regency in writing to Midland Development to accept employment with the Partnership immediately following the First Closing, and Regency agrees to cause the Partnership to hire such employees immediately following the First Closing provided that any such employee does not engage in malfeasance prior to the First Closing. Regency agrees that any "stay bonuses" for such employees shall be an expense of the Partnership. Regency shall pay severance compensation for employees whose employment is terminated by Midland Development prior to the First Closing or by the Partnership after the First Closing, in either case because their services will not be required by the Partnership following the First Closing; provided, however, that all such severance compensation shall not exceed $50,000. Midland Development shall be responsible for any severance compensation that exceeds such amount, and if any such excess severance compensation is paid by the Partnership after the First Closing, the Partnership shall be entitled to deduct such excess amount from the Midland Group Earn-Out at the First Earn-Out Closing. Regency shall make capital contributions to the Partnership for the purpose of funding severance compensation or stay bonuses expressly assumed by Regency hereunder. Nothing herein is intended to make any employee hired by the Partnership other than an employee at will, and nothing herein is intended to obligate Regency with respect to independent contractor brokers who perform services for Midland Development.
Continuation of Employees. The parties acknowledge that the ------------------------- employees of the Company and its subsidiaries immediately prior to the Closing, which employees are listed in Schedule 6.22, shall be the employees of the ------------- Company and its subsidiaries immediately after the Closing.
Continuation of Employees. During the Supplying Period, ASE shall ensure that:
Continuation of Employees. The Branch Affiliates agree to use reasonable best efforts to persuade those Branch employees designated by Regency in writing to Branch to accept employment with the Partnership or New Management Company immediately following the First Closing, and Regency agrees to cause the Partnership or New Management Company to hire such employees immediately following the First Closing provided that such employee does not engage in malfeasance prior to the First Closing. Certain of such employees who accept employment with the Partnership or New Management Company following the First Closing may be hired on the understanding that their services will be required only for a transition period, and Regency agrees that any severance compensation for such employees shall be an expense of the Partnership or New Management Company, as applicable. Regency shall cause Newco to make capital contributions to the Partnership for the purpose of funding severance compensation to Branch employees who accept employment with the Partnership and later are terminated, all as further described in Schedule , and also shall cause the Partnership to assume those accrued employee benefits such as accrued vacation time and the bonus compensation listed in Schedule , but only to the extent specifically set forth thereon. Branch shall be responsible for all severance compensation, if any, for those Branch employees whose employment is terminated by Branch prior to the First Closing, except as provided above and
Continuation of Employees. 30 7.7 Termination of PTI Money Purchase Pension Plan and Trust and 401(K) Profit Sharing Plan .............................. 30 7.8 Redemption of Shares of PTII Held by PTI..................... 31 7.9
