Common use of Employee Relations and Agreements Clause in Contracts

Employee Relations and Agreements. (a) Schedule 4.18(a) of the Seller Disclosure Schedule contains a true and complete listing (excluding names and any other personally identifying information) of the position, status as exempt or non-exempt from overtime pay under the FLSA, annual salary or hourly wage rate, base rate of bonus opportunity, date of hire, and work location of all of the Business Employees (whether full-time, part-time, or otherwise). Such list shall be updated as of the Cut-Off Date and shall be revised so as to include the names of all Business Employees on the Cut-Off Date. Such updated and revised list shall be delivered by Seller to Buyer at the Closing. Such updated and revised list may be supplemented by Seller promptly following the Closing Date to add the names of any Business Employees who were unintentionally omitted from the list delivered by Seller to Buyer at the Closing. Seller has provided to Buyer true, correct, and complete copies of all Employment Agreements, personnel policies, and employee handbooks relating to the Business Employees. Neither Seller nor any of the Companies has (in respect of the Business) received a claim from any Governmental Body to the effect that it has improperly classified as an independent contractor any Person named in Schedule 4.18(a).

Appears in 2 contracts

Samples: Stock Purchase Agreement (Saks Inc), Stock Purchase Agreement (Belk Inc)

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Employee Relations and Agreements. (a) Schedule 4.18(a5.17(a) of the Seller Disclosure Schedule contains a true and complete listing list (excluding names and any other personally identifying information) of the position, status as exempt or non-exempt unexempt from overtime pay under the FLSA, annual salary or hourly wage rate, base rate of bonus opportunity, date of hire, hire and work location of all of the Business Employees employees (whether full-time, part-time, time or otherwise) employed in the Business as of the date set forth therein other than the Excluded Employees (“Current Business Employees”). Such list shall be updated as of the Cut-Off Date and shall be revised so as to include the names of all such employees of the Business Employees who are employed by Seller or any Company on the Cut-Cut- Off DateDate other than the Excluded Employees (“Business Employees”). Such updated and revised list shall be delivered by Seller to Buyer at the Closing. Such updated and revised list may be supplemented by Seller promptly following the Closing Date to add the names of any employees of the Business Employees who were unintentionally omitted from the list delivered by Seller to Buyer at the Closing. Seller has provided to Buyer true, correct, correct and complete copies of all Employment Agreements, personnel policies, policies and employee handbooks relating to the Current Business Employees. Neither Seller nor any of the Companies has (in respect of the Business) received a claim from any Governmental Body to the effect that it has improperly classified as an independent contractor any Person named in Schedule 4.18(a5.17(a).

Appears in 1 contract

Samples: Asset Purchase Agreement (Saks Inc)

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Employee Relations and Agreements. (a) Schedule 4.18(a5.17(a) of the Seller Disclosure Schedule contains a true and complete listing list (excluding names and any other personally identifying information) of the position, status as exempt or non-exempt unexempt from overtime pay under the FLSA, annual salary or hourly wage rate, base rate of bonus opportunity, date of hire, hire and work location of all of the Business Employees employees (whether full-time, part-time, time or otherwise) employed in the Business as of the date set forth therein other than the Excluded Employees ("Current Business Employees"). Such list shall be updated as of the Cut-Cut- Off Date and shall be revised so as to include the names of all such employees of the Business Employees who are employed by Seller or any Company on the Cut-Off DateDate other than the Excluded Employees ("Business Employees"). Such updated and revised list shall be delivered by Seller to Buyer at the Closing. Such updated and revised list may be supplemented by Seller promptly following the Closing Date to add the names of any employees of the Business Employees who were unintentionally omitted from the list delivered by Seller to Buyer at the Closing. Seller has provided to Buyer true, correct, correct and complete copies of all Employment Agreements, personnel policies, policies and employee handbooks relating to the Current Business Employees. Neither Seller nor any of the Companies has (in respect of the Business) received a claim from any Governmental Body to the effect that it has improperly classified as an independent contractor any Person named in Schedule 4.18(a5.17(a).

Appears in 1 contract

Samples: Asset Purchase Agreement (Belk Inc)

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