Employee Headcount. The Company shall not, and shall not permit any of its Subsidiaries to, (A) increase its employee headcount in the aggregate in excess of the headcount projected in the Company’s budget set forth on Section 5.1(b)(x) of the Company Disclosure Schedule or (B) reduce the number of employees in a manner which would implicate the WARN Act or any state or local Laws requiring notice with respect to layoffs or terminations;
Employee Headcount. Parent shall not, and shall not permit any of its Subsidiaries to, (A) increase its employee headcount in the aggregate by more than ten percent (10%) of the headcount projected in Parent’s budget as previously provided to Parent, or (B) reduce the number of employees in a manner which would implicate the WARN Act or any state or local Laws requiring notice with respect to layoffs or terminations;
Employee Headcount. Section 4.22(k)(i) of the Disclosure Letter sets forth current employees of the Company, which includes, as of the date hereof and except as prohibited by applicable Law, a complete and accurate list of each such employee’s name or employee identification number, work location, title, start date, base salary or hourly wage rate (as applicable), current bonus, commission, or other and incentive compensation eligibility (including any target and maximum amounts), accrued but unused vacation, whether such employee is exempt or non-exempt for overtime purposes under applicable Law and whether the employee is on a leave and, if so, any expected return date. To the Knowledge of the Company, no Key Employee or officer of the Company intends to terminate their employment with the Company for any reason prior to the Closing.
Employee Headcount. While Merger-related efficiencies will result in a lower employee headcount over time for the combined organization post-closing compared to the two stand-alone organizations prior to closing, there will be no involuntary severance as a result of the Merger. There will also be no involuntary severance as a result of closing the following generating facilities: Xxxxxx (units 1, 2 and 3), Montrose (units 1, 2 and 3), Lake Road (unit 4/6), Tecumseh (unit 7), Xxxxxx Xxxxx (units 1 and 2) and Xxxxxx Xxxx (units 3 and 4). Holdco will achieve headcount-related efficiencies (including any reduction in Kansas headquarters personnel) through normal attrition and other voluntary means over time in a generally balanced way across the States of Kansas and Missouri.
