Employees of Company. (a) As soon as reasonably practicable after the Effective Time, but in any event not later than January 1, 1999, Acquiror shall provide employee benefit plans and arrangements to employees of the Company and its subsidiaries that are similar to the employee benefit plans and arrangements of Acquiror for similarly situated employees of the Acquiror as in effect immediately prior to the Effective Time.
(b) The employees of Company and its subsidiaries shall be credited for their actual years of service with the Company for purposes of eligibility, vesting and benefit accrual under all benefit plans provided by Acquiror in accordance with this Section 7.07, including, but not limited to, vacation, severance, retirement and disability plans.
(c) Such employee benefits under any medical plan provided by Acquiror in accordance with this Section 7.07 shall not be subject to any exclusions for any pre-existing conditions, and credit shall be received for any deductibles or out-of-pocket amounts previously paid by employees of the Company and its subsidiaries for the current plan year under the medical plan maintained by the Company.
(d) Nothing in this Agreement is intended to confer upon any employee of the Company or its subsidiaries retained by Acquiror after Closing ("Retained Employees") any right to continued employment after evaluation by Acquiror and its affiliates of their employment needs at any time after the Closing.
(e) Notwithstanding any provision in this Agreement to the contrary, Acquiror expressly reserves the right to amend, modify, or terminate any Benefit Plan, program or policy established or maintained by Acquiror or any of its affiliates (including, without limitation, the Company or its subsidiaries) for the benefit of the Retained Employees.
Employees of Company. 31 7.07 TAX-FREE REORGANIZATION........................................................................31 7.08
Employees of Company. During the Employment Term and the Restricted Period; Executive shall not, directly or indirectly, knowingly hire, solicit or encourage to leave the employment of Company any employee of Company, or hire any person who has left the employment of Company, within one year of the termination of the Restricted Period except for employees terminated or laid off by Company.
Employees of Company entitled to shares of common stock upon the exercise of options or awards of stock issued pursuant to an existing employee stock option or stock compensation plan as reported in the Company 10KSB. Company Stock/Option Plans --------------------------
Employees of Company. During the Restricted Period and thereafter for as long as the Employee shall remain an employee of or consultant to the Company, Employee shall not, directly or indirectly, hire or solicit any employee of the Company away from the Company or encourage any such employee to leave such employment.
Employees of Company. The Company shall use its best efforts to communicate and persuade its employees to continue employment with the Company after the Closing and Parent agrees to continue to employ such employees on the same terms and conditions as existed prior to Closing. Parent agrees to either, at the option of Xxxxxxx Xxxxx, continue the employee group health coverage of the Company or to combine the employees of the Company into the group health plan as available to all employees of Parent.
Employees of Company. 30 7.08 TAX-FREE REORGANIZATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 7.09
Employees of Company. (a) As soon as reasonably practicable after the Effective Time, but in any event not later than January 1, 2000, Acquiror shall provide employee benefit plans and arrangements to employees of the Company and its subsidiaries that are similar to the employee benefit plans and arrangements of Acquiror for similarly situated employees of the Acquiror as then in effect.
(b) The Company acknowledges that any benefits plans of the Acquiror that may be provided to the employees of the Company after the Effective Time may be substantially different from those provided such employees of the Company prior to the Merger.
(c) The employees of Company and its subsidiaries shall be credited for their actual years of service with the Company for purposes of eligibility, vesting and benefit accrual under all benefit plans provided by Acquiror in accordance with this Section 7.07, including, but not limited to, vacation, severance, retirement and disability plans, but excluding any defined benefit plans.
(d) Such employee benefits under any medical plan provided by Acquiror in accordance with this Section 7.07 shall not be subject to any exclusions for any pre-existing conditions to the extent such exclusions did not apply under the Company's medical plan, and credit shall be received for any deductibles or out-of-pocket amounts previously paid by employees of the Company and its subsidiaries for the current plan year under the medical plan maintained by the Company.
(e) Nothing in this Agreement is intended to confer upon any employee of the Company or its subsidiaries retained by Acquiror after Closing ("Retained Employees") any right to continued employment after evaluation by Acquiror and its affiliates of their employment needs at any time after the Closing.
(f) Notwithstanding any provision in this Agreement to the contrary, Acquiror expressly reserves the right to amend, modify, or terminate any benefit plan, program or policy established or maintained by Acquiror or any of its affiliates (including, without limitation, the Company or its subsidiaries) for the benefit of the Retained Employees.
Employees of Company. Upon termination of this contract by either party for any reason, with or without cause, Employee shall not, directly or indirectly, during the course of his employment or for a period of twenty-four (24) months after such termination, solicit any employee of Company, or encourage any such employee to leave such employment without the prior written approval of Company as applicable.
Employees of Company. Since its formation and through the Effective Date, the Company has no employees and/or employment agreements or understandings (whether written or verbal) with any person, nor is the Company party to any union contract or collective bargaining agreement.
