Common use of Employee Retention Clause in Contracts

Employee Retention. If the Concession Sublessee’s concession at the relevant concession space is of the same type (i.e., food, retail, news/gifts or duty-free concession) as that of the immediately preceding concession operator at the relevant concession space (the “Predecessor Concession”), the Concession Sublessee agrees to offer continued employment for a minimum period of ninety (90) days, unless there is just cause to terminate employment sooner, to employees of the Predecessor Concession who have been or will be displaced by cessation of the operations of the Predecessor Concession and who wish to work for the Concession Sublessee at the relevant concession space. The foregoing requirement shall be subject to the Concession Sublessee’s commercially reasonable determination that fewer employees are required at the relevant concession space than were required by the Predecessor Concession; provided, however, that the Concession Sublessee shall retain such staff as is deemed commercially reasonable on the basis of seniority with the Predecessor Concession at the subleased premises. The Port Authority shall have the right to demand from the Concession Sublessee, upon reasonable notice, documentation of the name, date of hire, and employment occupation classification of all employees covered by this provision. In the event the Concession Sublessee fails to comply with this provision, the Port Authority shall have the right at any time during the continuance thereof to take such actions as the Port Authority may deem appropriate, including, without limitation, revocation of its consent to the Concessionaire Sublease and, accordingly, revocation of the Concession Sublease.

Employee Retention. If (a) As requested by the Concession Sublessee’s concession at Purchaser, the relevant concession space is Seller shall ensure that as of the same type (i.e.Closing Date, food, retail, news/gifts or duty-free concessionthe Company shall not have any employees other than those employees described in Section 5.12(a) as that of the immediately preceding concession operator at the relevant concession space Seller Disclosure Schedule (the “Predecessor ConcessionTarget Employees”), the Concession Sublessee agrees to offer continued employment for a minimum period of ninety (90) days, unless there is just cause to terminate employment sooner, to employees of the Predecessor Concession who have been or will be displaced by cessation of the operations of the Predecessor Concession and who wish to work for the Concession Sublessee at the relevant concession space. The foregoing requirement shall be subject to the Concession Sublessee’s commercially reasonable determination that fewer employees are required at the relevant concession space than were required by the Predecessor Concession; provided, however, that the Concession Sublessee Seller is not representing or covenanting that any of the Target Employees will remain employed by the Company as of the Closing Date; and provided further, that the Seller may cause the Company to hire new employees to replace any of the Target Employees who resign, subject to the prior written consent of the Purchaser (such consent not to be unreasonably withheld). (b) The Seller shall retain such staff as is deemed commercially reasonable ensure that the Company does not terminate any of the Target Employees prior to Closing other than for cause. (c) During the period commencing on the basis date hereof and ending on the first anniversary of seniority the Closing Date, the Seller shall not, and shall cause its Affiliates not to, employ or solicit for employment any of the Target Employees, excepting Target Employees seconded to the Company by the Seller or an Affiliate of the Seller, without the prior approval of the Purchaser. (d) During the period commencing on the date hereof and ending on the first anniversary of the Closing Date, the Purchaser shall not, and shall cause its Affiliates not to, employ or solicit for employment any of the ELN China employees. (e) For the purpose of encouraging employees of the Company to continue working with the Predecessor Concession Company following the Closing, (i) the Seller shall cause the Company to pay, prior to the Closing Date, to each of the employees of the Company set forth in a schedule (the “Closing Date Employee Schedule”) to be delivered by the Seller to the Purchaser at the subleased premisesClosing (the “Closing Date Employees”) the amount set forth opposite such Closing Date Employee’s name on such schedule (each such amount being the “Employee Retention Amount” in respect of such employee) and (ii) on the date (the “Distribution Date”) six months following the Closing Date (or the next Business Day thereafter if such date is not a Business Day), the Purchaser shall cause the Company to pay to each of the Closing Date Employees who remains in the employ of the Company as of the Distribution Date an amount equal to the Employee Retention Amount payment made by the Seller to such Closing Date Employee on or immediately prior to the Closing Date. The Port Authority Seller shall have reimburse the right Company for any such payment made to demand from the Concession SublesseeClosing Date Employees under (ii) above within ten (10) Business Days after delivery by the Company of evidence of payment of such amounts reasonably satisfactory to the Seller. (f) The Purchaser shall pay, upon reasonable noticein the aggregate, documentation an amount no less than the aggregate of all Employee Retention Amounts paid by or on behalf of the nameSeller pursuant to paragraph (e) of this Section 5.12, date of hire, and employment occupation classification of all to certain employees covered by this provision. In the event the Concession Sublessee fails to comply with this provision, the Port Authority shall have the right at any time during the continuance thereof to take such actions as the Port Authority may deem appropriate, including, without limitation, revocation of its consent to the Concessionaire Sublease and, accordingly, revocation of the Concession SubleaseCompany above and beyond any salary and benefits to which such employees are entitled.

Employee Retention. If Except as provided in this Section 11.9, the Concession Sublessee’s concession Purchaser will offer employment to all employees set forth on Schedule 3.20 as at-will employees, at substantially the same salary as previously provided by the Company, and will employ such employees, provided that each such employee agrees to be so hired. It is understood that the employment of the employees of the Company that accept the Purchaser's offer of employment will not commence until immediately following the close of business on the Closing Date, except that the employment of individuals receiving short-term disability benefits or an approved leave of absence on the Closing Date will become effective as of the date they present themselves for work with the Purchaser immediately upon the termination of the short-term disability benefits or approved leave of absence, respectively; provided, that nothing herein shall require the Purchaser to employ any employee who does not report for work before or at the relevant concession space conclusion of an authorized short-term disability leave of absence or other authorized leave of absence, provided, further, that a leave of absence shall be considered to be "Authorized" if it is authorized by law or was authorized by the Company pursuant to the Company's disability leave of the same type (i.e., food, retail, news/gifts absence or duty-free concession) as other leave of absence policies. Any employee that of falls within the immediately preceding concession operator at the relevant concession space (the “Predecessor Concession”), the Concession Sublessee agrees to offer continued employment for a minimum period of ninety (90) days, unless there sentence is just cause to terminate employment sooner, to employees of the Predecessor Concession who have been or will be displaced by cessation of the operations of the Predecessor Concession and who wish to work for the Concession Sublessee at the relevant concession spaceso indicated on Schedule 11.9. The foregoing requirement Purchaser shall be subject provide to the Concession Sublessee’s commercially reasonable determination Company's employees the Benefit Plans and other employee benefits that fewer are provided to the Parent's employees are required at the relevant concession space than were required by the Predecessor Concessionfrom time to time; provided, however, that the Concession Sublessee Purchaser may choose to continue any or all of the Company's Benefit Plans, including the Company's 401(k) plan, after the Closing in lieu of providing the Parent's Benefit Plans to the former employees of the Company. The Purchaser shall retain such staff as is deemed commercially reasonable on credit all former employees of the basis Company who become employees of seniority the Purchaser, for the purpose of medical, dental, health and life insurance, the Parent's 401(k) plan, the Parent's Employee Stock Ownership Plan (for purposes of eligibility but not vesting) and paid time off with all of their prior service/employment time with the Predecessor Concession at Company. Nothing in this Section 11.9 is intended to create, or shall create or confer, any rights or remedies upon any Person other than the subleased premisesPurchaser or the Company and their respective successors and assigns, nor shall this Section 11.9 create any right of employment for any employee of the Company. The Port Authority Purchaser shall have the right to demand from the Concession Sublessee, upon reasonable notice, documentation not treat any Company employee as a "new" employee for purposes of any exclusion under any health plan or dental plan of the name, date of hire, and employment occupation classification of all employees covered by this provision. In the event the Concession Sublessee fails to comply with this provision, the Port Authority shall have the right at Purchaser or any time during the continuance thereof to take such actions as the Port Authority may deem appropriate, including, without limitation, revocation of its consent Affiliates for a pre-existing medical condition and shall make appropriate arrangements with its insurance carrier(s) to the Concessionaire Sublease and, accordingly, revocation of the Concession Subleaseensure such result.

Employee Retention. If (a) The Purchaser shall employ, or cause the Concession Sublessee’s concession at Company to continue the relevant concession space is employment of the same type (i.e., food, retail, news/gifts or duty-free concession) as that of the immediately preceding concession operator at the relevant concession space (the “Predecessor Concession”), the Concession Sublessee agrees to offer continued employment for a minimum period of ninety (90) days, unless there is just cause to terminate employment sooner, to all employees of the Predecessor Concession Company who have been or will are listed on SCHEDULE 11.9 of this Agreement who continue to be displaced by cessation employees of the operations Company as of the Predecessor Concession Date of Closing (other than Xxxxxx X. Xxxxxxxx, Xxxxx X. Xxxxxxxx or Xxxxxx Xxxxxxxxxxx) without interruption after the Date of Closing until three (3) months to the day after the Date of Closing (the "Transition Period"). (b) Xxxxxx Xxxxxxxxxxx and any other employee of the Company listed on SCHEDULE 11.9 who wish meets the requirements set forth in their applicable retention/transition letter (the "Retention Agreements") executed with the Company (a "Qualified Employee") shall be paid a retention bonus in accordance and in the amount provided by with the terms of the applicable Retention Agreement. Whether such requirements are met shall be determined in the reasonable discretion of the Shareholders, based on the terms of the Retention Agreements. The employee retention amount (the "Employee Retention Amount") is equal to work all amounts paid by the Company pursuant to the Retention Agreements for the Concession Sublessee at nine (9) month retention payment obligation and all of the relevant concession spaceCompany's other expenses related to said payments as set forth in SCHEDULE 11.9. The foregoing requirement portion, if any, of the Employee Retention Amount not paid by the Company to Qualified Employees shall be subject paid to the Concession Sublessee’s commercially Shareholders by Purchaser after the liability for Employee Retention Amount payments has been finally determined. (c) Notwithstanding the foregoing, the Company from and after the Date of Closing, and without triggering an obligation pursuant to any Retention Agreement, may terminate the employment of Company employees for objective occurrences constituting "cause," according to the normal employment policies and practices of Purchaser or the Company for all employees similarly situated. Notwithstanding any provision in this Agreement to the contrary, all Company employees shall remain at-will employees of the Company. Except for reasonable determination that fewer employees are required at changes in duties, all Company employees, except for Xxxxxx Xxxxxxxxxxx and the relevant concession space than were required Valley Employees, shall continue to be employed by the Predecessor ConcessionCompany during the Transition Period on substantially the same terms and conditions as they are employed by the Company as of the Date of Closing. Purchaser shall cause the Company to provide the Company's employees the Benefit Plans and other employee benefits that are provided to Purchaser's employees from time to time; provided, however, that Purchaser may choose to continue the Concession Sublessee Company's 401(k) plan, as amended, after the Closing in lieu of providing Purchaser's 401(k) plan to the Company's employees. Purchaser shall retain such staff as is deemed commercially reasonable on credit all Company employees, for the basis purpose of seniority medical, dental, health and life insurance, Purchaser's 401(k) plan, and paid time off with all of their prior service/employment time with the Predecessor Concession at Company. Nothing in this Section 11.9 is intended to create, or shall create or confer, any rights or remedies upon any Person other than the subleased premisesPurchaser or the Shareholders and their respective successors and assigns, nor shall this Section 11.9 create any right of employment for any employee of the Company. The Port Authority Shareholders shall have the right to demand from seek an Injunction, without the Concession Sublesseenecessity of posting bond, upon reasonable notice, documentation of to cause the name, date of hire, Company and employment occupation classification of all employees covered by this provision. In the event the Concession Sublessee fails Purchaser to comply with the provisions of this provision, the Port Authority shall have the right at any time during the continuance thereof to take such actions as the Port Authority may deem appropriate, including, without limitation, revocation of its consent to the Concessionaire Sublease and, accordingly, revocation of the Concession SubleaseSection.

Employee Retention. If Except as provided in this Section 7.8, the Concession SublesseePurchaser will offer employment to all employees of the Business set forth on Schedule 3.18 as at-will employees, at substantially the same salary as previously provided by the Company, and will employ such employees, provided that each such employee agrees to be so hired. It is understood that the employment of the employees of the Company that accept the Purchaser’s concession offer of employment will not commence until immediately following the close of business on the Closing Date, except that the employment of individuals on furlough or layoff, receiving disability (short-term or long-term) benefits or an approved leave of absence on the Closing Date will become effective as of the date they present themselves for work with the Purchaser immediately upon the termination of such status or discontinue receiving disability benefits, respectively; provided, that nothing herein shall require the Purchaser to employ any employee who does not report for work before or at the relevant concession space conclusion of an authorized short-term disability leave of absence or other authorized leave of absence, provided, further, that a leave of absence shall be considered to be “Authorized” if it is authorized by law or was authorized by the Company pursuant to the Company’s disability leave of the same type (i.e., food, retail, news/gifts absence or duty-free concession) as other leave of absence policies. Any employee that of falls within the immediately preceding concession operator at sentence is so indicated on Schedule 7.8. The Purchaser shall provide to the relevant concession space (Company’s employees the “Predecessor Concession”), benefit plans and other employee benefits that are provided to the Concession Sublessee agrees Purchaser’s employees from time to offer continued employment for a minimum period of ninety (90) days, unless there is just cause to terminate employment sooner, to time The Purchaser shall credit all former employees of the Predecessor Concession Company who have been or will be displaced by cessation become employees of the operations Purchaser, for the purpose of medical, dental, health and life insurance, any 401(k) plan, any Employee Stock Ownership Plan (for purposes of eligibility but not vesting), paid time off and the Purchaser’s severance plan with all of their prior service/employment time with the Company. Nothing in this Section 7.8 is intended to create, or shall create or confer, any rights or remedies upon any Person other than the Purchaser or the Company, nor shall this Section 7.8 create any right of employment for any employee of the Predecessor Concession and who wish to work for the Concession Sublessee at the relevant concession space. The foregoing requirement shall be subject to the Concession Sublessee’s commercially reasonable determination that fewer employees are required at the relevant concession space than were required by the Predecessor Concession; provided, however, that the Concession Sublessee shall retain such staff as is deemed commercially reasonable on the basis of seniority with the Predecessor Concession at the subleased premises. The Port Authority shall have the right to demand from the Concession Sublessee, upon reasonable notice, documentation of the name, date of hire, and employment occupation classification of all employees covered by this provision. In the event the Concession Sublessee fails to comply with this provision, the Port Authority shall have the right at any time during the continuance thereof to take such actions as the Port Authority may deem appropriate, including, without limitation, revocation of its consent to the Concessionaire Sublease and, accordingly, revocation of the Concession SubleaseCompany.