CTB may Sample Clauses

CTB may but is not obligated to, offer full-time employment to all employees of the Selling Entities who are employed in the Business on a full-time basis as of the Closing and (except as required by law) who are not then absent due to serious bodily injury, long-term sickness or disability, layoff or leave of absence. Such employment shall be at will and shall be accomplished by assigning to CTB and CTB assuming at or prior to Closing the employment contract of each such employee. Such employees who accept such offered employment are herein collectively referred to as the "Transferred Employees." CTB may, but is not obligated to, afford to all Transferred Employees credit for all of their years of employment with Selling Entities in the determination of vesting and other rights under CTB's benefits programs, including vacation time based on employment through the Closing Date, as applicable. Selling Entities shall be responsible for, and hold CTB harmless against, any severance payments or other obligations (including without limitation any liability for wrongful discharge) that may be due by reason of termination of employment of any employees of Selling Entities who are not Transferred Employees, whether or not such termination occurred before or after the Closing. CTB shall be responsible for, and hold Selling Entities harmless against, any severance payments that may be due by reason of termination of employment of Transferred Employees by CTB at any time after the Closing. Selling Entities shall compensate each Transferred Employee on or before the Closing Date for all accrued but unpaid payroll, unused vacation time, discretionary time off and attendance or other bonuses.
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