Employment of Desired Employees Sample Clauses

Employment of Desired Employees. Upon the Closing, those Desired Employees who become employees of NBPS ("CONTINUING EMPLOYEES") shall be entitled to participate in the employee benefit plans maintained for the benefit of similarly situated employees of NBPS, except for severance plans. With respect to eligibility and vesting requirements (but not benefit accrual, employer contributions, benefit formulas incorporating service, or employer subsidies) of such employee benefit plans, including without limit, vacation plans, retirement plans and health insurance plans, except for retiree medical benefits, the Continuing Employees shall be given credit for past service with BPE and its predecessors, to the extent recognized and credited under BPE's equivalent Benefit Plans. NBP and NBILP agree that any Continuing Employee who is terminated, other than for cause, within twelve (12) months after the Closing Date will receive a severance payment from NBPS that will be no less than the payment such employee would have received under the BPE Change in Control Plan had it not been terminated. The obligation and liability to pay the aggregate cost of the severance payments, if any, pursuant to the preceding sentence shall be borne by NBPS. As used in this paragraph, "cause" shall mean (i) a Continuing Employee's gross negligence or willful misconduct or violation of policy during employment or in the performance of the duties and services required of the Continuing Employee, (ii) a Continuing Employee's failure to meet established performance objectives, or (iii) a Continuing Employee's refusal to accept and agree to a transfer of employment with NBPS or any Affiliate of NBPS at a location within fifty (50) miles of the location at which the Continuing Employee was employed as of the Closing Date and at such Continuing Employee's same or higher base salary or rate of compensation. Failure to meet established performance objectives shall not be such a cause for termination with respect to entitlement to severance benefits unless the objectives are reasonable, have been clearly established and communicated to the Continuing Employee and the Continuing Employee has been counseled about the unacceptable performance and coached to improve performance for at least thirty (30) days.
Sample 1
AutoNDA by SimpleDocs

Related to Employment of Desired Employees

  • Termination of Employment Agreement As of the Effective Date, the Employment Agreement hereby is terminated in its entirety and shall no longer have any force or effect.

  • Re-employment Rights (1) Re-employment of Faculty Members on layoff status will be administered by the College in accordance with the then-applicable provisions of the Education Code. (2) Faculty Members on layoff who wish to be re-employed shall keep Human Resources apprised in writing of their current mailing addresses and telephone numbers, and of any changes in their qualifications. (3) When actual vacancies occur in any Faculty Service Area, the District shall notify, in seniority order, the laid-off Faculty Member(s) in such Faculty Service Area. This notice shall be sent by certified mail to the Faculty Member's current mailing address on file with Human Resources forty-five (45) days before the contemplated first day of re- employment of the Faculty Member or immediately upon the District learning of such vacancy if within forty-five (45) days of the course/assignment beginning date. The notified Faculty member shall notify the District in writing of his/her acceptance or rejection within ten (10) days of mailing by the District. Failure to do so shall mean the Faculty Member has waived his/her reappointment right to the vacancy stated in the notice from the District. Such Faculty Member shall retain the Faculty Member's seniority position on that Faculty Service Area list for the period of time provided by the Education Code. (4) As to any Faculty Member who is re-employed, the period of absence shall be treated as a leave of absence and shall not be considered as a break in the continuity of service, and such Faculty Member shall retain all rights to contract or regular status, as the case may be, in accordance with the applicable provision of the Education Code, including the requirement of four (4) years' active service for eligibility to move from a contract position to a regular position. (5) All partially or completely laid-off Faculty Members, upon any partial reinstatement, shall be paid the pro-rata salary equivalent to their step and column placement on the permanent salary schedule at the time of their layoff.

  • Employment Terms As a condition to your employment with the Company, you are required to (a) sign and return a satisfactory I-9 Immigration form providing sufficient documentation establishing your employment eligibility in the United States, and (b) provide satisfactory proof of your identity as required by United States law.

  • Terms of Employment This Section 2 sets forth the terms and conditions on which the Company agrees to employ Executive during the period (the "Protected Period") beginning on the first day during the Term of this Agreement on which a Change of Control occurs and ending on the second anniversary of that date, or such earlier date as Executive's employment terminates as contemplated by Section 3.

  • Compensation; Employment Agreements; Etc Enter into or amend or renew any employment, consulting, severance or similar agreements or arrangements with any director, officer or employee of Metropolitan or its Subsidiaries, or grant any salary or wage increase or increase any employee benefit (including incentive or bonus payments), except (i) for normal individual increases in compensation to employees in the ordinary course of business consistent with past practice, (ii) for other changes that are required by applicable law, and (iii) to satisfy Previously Disclosed contractual obligations existing as of the date hereof.

  • Employee Discipline Appropriate sanctions must be applied against workforce 18 members who fail to comply with any provisions of CONTRACTOR’s privacy P&Ps, including 19 termination of employment where appropriate.

  • TERMINATION OF EMPLOYMENT CONTRACT This employment contract may be terminated by: A. Mutual agreement of the parties. B. The Facilities Manager may terminate this employment contract upon sixty (60) days written notice to the Board or the Superintendent, as the case may be.

  • Outside Employment Employees may engage in other employment outside of their State working hours so long as the outside employment does not involve a conflict of interest with their State employment. Whenever it appears that any such outside employment might constitute a conflict of interest, the employee is expected to consult with his/her appointing authority or other appropriate agency representative prior to engaging in such outside employment. Employees of agencies where there are established procedures concerning outside employment for the purpose of insuring compliance with specific statutory restrictions on outside employment are expected to comply with such procedures.

  • Employment Option If the State determines that it would be in the State’s best interest to hire an employee of the Contractor, the Contractor will release the selected employee from any non-competition agreements that may be in effect. This release will be at no cost to the State or the employee.

  • Prior Employment Agreements The Executive represents that he/she has not executed any agreement with any previous employer which may impose restrictions on Executive’s employment with the Employer.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!