Employment of Employees. (a) On the Closing Date, Purchaser shall make offers of employment to all of the hourly Employees and to those certain salaried Employees identified on SCHEDULE 11.1, other than Employees who are "Not Actively Employed" by Seller on the Closing Date for any reason whatsoever, including but not limited to a leave of absence, long term or short term disability, or prior termination of employment (an Employee shall be considered "Not Actively Employed" if the Employee did not report to work with Seller for a period of at least six consecutive business days which includes the Closing Date (excluding vacation time or absences due to minor illness)). Employees who accept the offer of employment made by Purchaser shall be referred to as "Hired Employees."
(b) Purchaser has confirmed to Seller that each Hired Employee shall receive credit for the purposes of determining vesting service under Purchaser's tax qualified deferred compensation plans applicable to the Hired Employees. Purchaser has also confirmed to Seller that Hired Employees shall be entitled to participate in Purchaser's group insurance plans and programs (subject to the terms of such plans and programs) without regard to applicable waiting, eligibility, or pre-existing condition limitation periods, except to the extent that such eligibility, waiting, or pre-existing limitation periods would apply under Seller's group insurance plans or programs. Purchaser has further confirmed that Hired Employees shall receive credit under applicable severance pay plans maintained by Purchaser as of the Closing Date for employment service with Seller to the extent such Hired Employees are not entitled to payment under Seller's severance pay (or similar) plans with respect to such service with Seller. Notwithstanding any possible inferences to the contrary, neither of Seller nor Purchaser intends for this Article 11 to create any rights or obligations except as between the parties hereto, and no past, present or future employees of Seller or Purchaser shall be treated as third-party beneficiaries of this Article 11.
(c) Seller shall be responsible for the payment of all wages, commissions, severance pay, accrued vacation, sick pay, and other employee benefit plan obligations under ERISA Sections 601-609 (i) to Hired Employees to the extent that such compensation or benefits are earned or accrued but not yet paid through the Closing Date and (ii) to any Employees of Seller who are not Hired Employees. Except for obli...
Employment of Employees. Purchaser may offer employment to any employees of Seller on the Closing Date. All employees accepting Purchaser's offer of employment are hereinafter referred to as the "Hired Employees." Seller shall be responsible for the payment of all wages, commissions, severance pay, accrued but unpaid wages, vacation pay, sick pay, and holiday pay to the Hired Employees of Seller accrued through the Closing Date, and for any employees of Seller who are not Hired Employees, up to and including the date Seller terminates the employment of such employees. Seller shall also be responsible for the payment to all employees of the Seller on the Closing Date (including those that become Hired Employees) and former employees of the Seller of all bonuses which become payable after the Effective Time with respect to any fiscal period ended prior to the Effective Time. Seller shall be responsible for the payment of any amounts due to its employees (including the Hired Employees) pursuant to the Company Benefit Plans (as defined herein) as a result of the employment of its employees, provided that in determining bonuses and other similar payments due to Hired Employees for any period ended on or prior to the Effective Time, Seller shall, if payment thereof will occur after the Effective Time, waive any requirement that employees be employees of Seller on the date such bonuses or other similar payment are paid. Seller shall be responsible for reporting all employee-related costs and liabilities of Hired Employees accruing prior to the Closing Date, whether payable on or after the Closing Date. Seller is responsible for all incurred but unreported or unpaid medical claims and workers' compensation claims occurring prior to the Effective Time and for the costs associated with any hospital confinement which commences prior to the Effective Time. Purchaser shall become responsible for all costs and liabilities attributable to Hired Employees accruing on and after the Effective Time; provided, however, that Purchaser shall not be responsible for any liabilities arising under the Company Benefit Plans. Effective on the Closing Date, Seller shall, and hereby does, release all Hired Employees from any employment and/or confidentiality agreement previously entered into between Seller and such Hired Employees. The following plans, programs, policies, or arrangements described in subparagraph (i) or (ii) are hereinafter collectively referred to as the "Company Benefit Plans":
(i) any emplo...
Employment of Employees. Purchaser currently expects to employ, at its option, certain of the employees of Seller. Seller agrees to take no action which would interfere with such employment by Purchaser, and shall take all action required by law or otherwise to release them from agreements with Seller that may prohibit their employment with Purchaser and to cause the valid termination of employment at the Closing Date of such employees by Seller who are to be employed by Purchaser following the Closing Date. Seller further agrees that Purchaser shall not assume any responsibility for, and Seller shall indemnify Purchaser from and against, any liability arising from any termination of employment of those employees of Seller whom Purchaser does not employ after the Closing Date, or as to whom Purchaser gives Seller notice that Purchaser will not continue their employment, such notice to be given on or prior to the Closing Date. Seller further agree that Purchaser shall not be liable for, and Seller shall indemnify Purchaser from and against any liability in respect of any employees of Seller for any acts or omissions relating to the employment of such employees or to the business of Seller arising on or prior to the Closing Date, regardless of whether the employees of Seller are subsequently employed by Purchaser. Nothing in this Agreement is intended to confer upon any employee of Seller any rights or remedies, including, without limitation, any rights of employment of any nature or kind whatsoever.
Employment of Employees. BUYER shall extend offers of employment, as of the Closing Date, to such employees of the Offices listed in Schedule R as may be employed by Banc One at the Offices as of the date of the Banc One Closing (including, without limitation, those employees who on the Closing Date are on family and medical leave, military leave, or personal or pregnancy leave and who elect to return to work not later than one (1) year following the Closing Date; individually and collectively the "Leave Employees" herein) for positions entailing responsibilities in effect at Banc One as of the Closing Date, and for a base salary not less than that paid by Banc One as of the Closing Date, Employees accepting employment with BUYER, including but not limited to the Leave Employees, are referred to herein individually and collectively as the "Transferred Employees". In the event that BUYER shall transfer (except in a comparable position and for comparable compensation to an office not more than 25 miles from the Office at which the Transferred Employee is employed as of the Closing Date, or at the request of the Transferred Employee), terminate employment of, or reduce the base salary of, a Transferred Employee (the "Terminated Employee") between the Closing Date and the date which is one (1) year from the Closing Date, other than for cause, BUYER shall pay to the Terminated Employee a sum equal to the greater of that which the Terminated Employee would have received on the date of such transfer, termination, or reduction in salary under the severance plan of Banc One applicable to the Terminated Employee as of the date hereof and set forth in Schedule R or the severance plan of BUYER otherwise applicable to the Terminated Employee as of the date of such transfer, termination, or reduction in base salary. Such payment shall be due and owing the Terminated Employee on the date of such transfer, termination, or reduction in salary. Nothing contained in this Agreement shall restrict or prohibit BUYER and any Transferred Employee from entering into an agreement satisfactory to both BUYER and the Transferred Employee providing for resolution of matters set forth in this section.
Employment of Employees. On the date of Closing, the Buyer shall offer employment to substantially all of the salaried and non-salaried employees of the Seller who are employed in the operation of the Store. The employment offered by the Buyer shall be "at will," and the Buyer shall be under no obligation to continue such employment following the date of Closing. The Seller shall terminate the employment of all of its salaried and non-salaried employees who are employed in the operation of the Store as of the close of business on the date of Closing, and the Seller shall be responsible for all wages, salaries, and other benefits, if any, due and owing to such Employees for all periods ending on or prior to the date of Closing. Additionally, the Buyer shall cause all Store managers who become employed by the Buyer to be covered, commencing on the first day of such employment, under the Buyer's health and medical welfare and benefit plans without any waiting period, with a waiver of pre-existing conditions, and otherwise on the same terms as such insurance coverages are provided generally to the employees of the Buyer.
Employment of Employees. 8 8. Assignment.......................................................... 8 9. No Third-Party Beneficiaries........................................ 9 10. Expenses............................................................ 9 11.
Employment of Employees. 52 11.2 Seller's Benefit Plans................................................... 52 11.3
Employment of Employees. Purchaser shall have no obligation to ------------------------ employ or to offer employment to any of the employees of Seller. Seller shall be responsible for the payment of all wages, commissions, severance pay, accrued but unpaid wages, vacation pay, sick pay, and holiday pay to the employees of Seller, up to and including the date Seller terminates the employment of such employees. Seller shall be responsible for the payment of any amounts due to its employees pursuant to any benefit plans of Seller as a result of the employment of its employees.
Employment of Employees. Upon the employment of any newly hired or re-hired employee, the Employer agrees to notify the Union in writing within ten (10) days thereafter of such employment, fur nishing the Union with the following information: The employee’s name, residence address, social security number, classification, location of employment, and date of employment. When requested by the Employer to do so, the Union agrees to provide the Employer with suitable forms for this purpose.
Employment of Employees. 12.1 a. Except as specifically limited by this Agreement, the Employers shall have entire freedom of selectivity in hiring and may discharge any employees for any cause that they may deem sufficient.
