Employment of Employees by LSG Sample Clauses

Employment of Employees by LSG. (a) Offers of Employment. Prior to Closing, TXU Gas will cause its Affiliates to transfer to TXU Gas the employees employed by such Affiliates but primarily dedicated to TXU Gas. Prior to Closing, TXU Gas' Affiliates shall transfer to TXU Gas such employees not to exceed 125, as shall be consented to by LSG prior to such transfer, which consent will not be unreasonably withheld. As of the Effective Time and in connection with the transaction contemplated by this Agreement, LSG will offer to employ all employees of TXU Gas, including those transferred to TXU Gas pursuant to the preceding sentence (the "Transitioned Employees") who either are actively at work or are on vacation or bereavement leave. The effective date of LSG's offer of employment shall be each such Transitioned Employee's "Employment Commencement Date". All such offers of employment by LSG shall be unconditional, and LSG shall employ all Transitioned Employees who accept such offer of employment effective as of the applicable Employment Commencement Date. TXU Gas will terminate the employment of each Transitioned Employee who receives an offer of employment by LSG, such transition to be effective as of such Transitioned Employee's Employment Commencement Date. LSG agrees that the initial positions and base salaries of the Transitioned Employees who are employed by LSG will be comparable to the positions and base salaries held by such employees at TXU Gas immediately prior to the Closing, and that such base salaries shall not be reduced for a period of at least one year after the Closing Date. The other terms of employment and employee benefit plans applicable for the Transitioned Employees who are employed by LSG shall be comparable to similarly situated LSG (or its Affiliates') non-union gas utility employees, provided that: (i) except as otherwise provided herein, each Transitioned Employee employed by LSG (and where applicable such Transitioned Employee's dependents and beneficiaries) will be eligible immediately to participate in all employee benefit plans of LSG for which such Transitioned Employee is eligible by virtue of his/her employment by LSG without any waiting period; and (ii) each such Transitioned Employee who signs, in a timely manner, an Agreement and Release in the form attached as Schedule 7.05(a) to this Agreement or such other forms as TXU Gas shall require ("Agreement and Release"), shall be entitled to the rights and benefits provided for under Sections 7.05(c) (relati...
Sample 1
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Employment of Employees by LSG 
Sample 1

Related to Employment of Employees by LSG

  • Employment of Employee (a) Except as provided in Sections 2(b), 2(c) and 2(d), nothing in this Agreement shall affect any right which Employee may otherwise have to terminate Employee’s employment, nor shall anything in this Agreement affect any right which the Company may have to terminate Employee’s employment at any time in any lawful manner.

  • 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.

  • End of Employment (a) Executive agrees that all documents of any nature pertaining to the activities of the Company or its affiliates, or that include Confidential Information, in his possession now or at any time during the term of his employment, including, without limitation, memoranda, notebooks, notes, data sheets, records, and computer programs, are and shall be the property of the Company and that all copies thereof shall be surrendered to the appropriate entity upon termination of employment.

  • Employment of Executive Employer hereby agrees to employ Executive, and Executive hereby agrees to be and remain in the employ of Employer, upon the terms and conditions hereinafter set forth.

  • Employment and Term of Employment Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company, as Controller and Secretary for a term (the "Term of Employment") beginning on the date first set forth above (the "Effective Date") and ending on the Expiration Date (defined below). As used in this Agreement, "Expiration Date" means the first anniversary of the Effective Date, provided that on each anniversary of the Effective Date (each such anniversary being referred to as a "Renewal Date"), the Expiration Date shall be automatically extended one additional year unless, not less than 10 days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 5 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 5 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

  • Contract of Employment Although this Agreement is intended to provide the Executive with an additional incentive to remain in the employ of the Employer, this Agreement shall not be deemed to constitute a contract of employment between the Executive and the Employer nor shall any provision of this Agreement restrict or expand the right of the Employer to terminate the Executive's employment. This Agreement shall have no impact or effect upon any separate written Employment Agreement which the Executive may have with the Employer, it being the parties' intention and agreement that unless this Agreement is specifically referenced in said Employment Agreement (or any modification thereto), this Agreement (and the Employer's obligations hereunder) shall stand separate and apart and shall have no effect upon, nor be affected by, the terms and provisions of said Employment Agreement.

  • Separation of Employment Your employment with the Company has terminated, without cause, effective January 28, 2015 (the “Separation Date”). You understand and acknowledge that, from and after the Separation Date, you shall have no authority and shall not represent yourself as an employee or agent of the Company or any of its affiliates. Notwithstanding the foregoing, you agree that you will cooperate with the Company’s reasonable requests for information and assistance in connection with the transitioning of your duties.

  • Extent of Employment (a) During the Term of Employment, the Executive shall perform his obligations hereunder faithfully and to the best of his ability at the principal executive offices of the Company, under the direction of the Board of Directors and/or Chairman of the Board, President and Chief Executive Officer of the Company, and shall abide by the rules, customs and usages from time to time established by the Companies.

  • Commencement of Employment 2.1 The Employment will start on 1 June 2009 (the “Commencement Date”). The Employment will continue until termination in accordance with the provisions of this agreement.

  • Period of Employment The “Period of Employment” shall be a period of three (3) years commencing on the Employment Commencement Date and ending at the close of business on the third (3rd) anniversary of the Employment Commencement Date (the “Termination Date”); provided, however, that this Agreement shall be automatically renewed, and the Period of Employment shall be automatically extended for one (1) additional year on the Termination Date and each anniversary of the Termination Date thereafter, unless either party gives notice, in writing, at least thirty (30) days prior to the expiration of this Agreement and the Period of Employment (including any renewal thereof) of such party’s desire to terminate the Agreement or modify its terms. The term “Period of Employment” shall include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment shall not be extended or further extended, as the case may be, shall not constitute a breach of this Agreement and shall not constitute “Constructive Termination” for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided below in this Agreement.

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