Common use of Employment of Employees Clause in Contracts

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. BUYER (a) Purchaser shall extend offers of employment, as of the Closing Date, to such employees of the Offices Branch Office listed in Schedule R 7.1(a) attached hereto and incorporated herein, which schedule shall include the names of each employee, their date of employment, salary, type of health plan coverage, including single or family coverage, number of dependents and portion of premium paid by employee, and any applicable severance plan as may be employed by Banc One Seller at the Offices Branch Office as of the date of the Banc One Closing Date (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 Seller as of the Closing Date, and for a base salary not less than that paid by Banc One Seller as of the Closing Date, . Employees accepting employment with BUYERPurchaser, including but not limited to the Leave Employees, are referred to herein individually and collectively as the "Transferred Employees". ." In the event that BUYER Purchaser shall transfer (except in a comparable position and for comparable compensation to an office not more than 25 35 miles from the Branch 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 Purchaser 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 Seller applicable to the Terminated Employee as of the date hereof and set forth in Schedule R 7.1 or the severance plan of BUYER Purchaser 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 Purchaser and any Transferred Employee from entering into an agreement satisfactory to both BUYER Purchaser and the Transferred Employee providing for resolution of matters set forth in this section. (b) Seller will cooperate with Purchaser, to the extent reasonably requested and legally permissible, to provide Purchaser with information about the employees of the Branch Office including, without limitation, providing Purchaser with the personnel files of those employees of the Branch Office who provide Seller with their written consent thereto, and a means to meet with the subject employees. Purchaser hereby agrees to indemnify and to hold Seller and its affiliates and its and their officers, directors, agents, and employees harmless from and against any and all liability, loss, cost, and expense, however arising, as a result of release of information and/or files concerning the referenced employees.

Employment of Employees. (a) BUYER shall extend offers of employment, as of the Closing Date, to such employees of the Offices listed in Schedule SCHEDULE R as may be employed by Banc One BANK ONE at the Offices as of the date of the Banc One Closing Date (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 BANK ONE as of the Closing Date, and for a base salary not less than that paid by Banc One BANK 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 BANK ONE applicable to the Terminated Employee as of the date hereof and set forth in Schedule 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 Buyer and any Transferred Employee from entering into an agreement satisfactory to both BUYER Buyer and the Transferred Employee providing for resolution of matters set forth in this section. (b) BANK ONE will cooperate with BUYER, to the extent reasonably requested and legally permissible, to provide BUYER with information about the employees of the Offices including, without limitation, providing BUYER with the personnel files of those employees of the Offices who provide BANK ONE with their written consent thereto, and a means to meet with the subject employees. BUYER hereby agrees to indemnify and to hold BANK ONE and its affiliates and its and their officers, directors, agents, and employees harmless from and against any and all liability, loss, cost, and expense, however arising, as a result of release of information and/or files concerning the referenced employees.

Employment of Employees. (a) BUYER shall extend offers of employment, as of the Closing Date, to such all employees (other than Leave Employees as defined in SECTION 4.2(D) -------------- of the Offices listed in Schedule R as may be employed by Banc One SELLER at the Offices as of the Closing Date and will offer employment to Leave Employees at such time as the leave terminates with SELLER. The employees of the Offices as of the date of the Banc One Closing (includingthis Agreement are listed on SCHEDULE O hereto, without limitation, those employees who on which schedule will be updated as ---------- of the Closing Date are on family and medical leave, military leave, or personal or pregnancy leave and who elect as necessary to return to work not later than one (1) year following show the Closing Date; individually and collectively employees of the "Leave Employees" herein) for positions entailing responsibilities in effect at Banc One Offices as of the Closing Date, . BUYER and SELLER shall cooperate to allow BUYER to meet with and interview all such employees after the date hereof to determine the most mutually beneficial position for a base salary not less than that paid by Banc One as of the Closing Date, such employees with BUYER. Employees accepting employment with BUYER, including but not limited to the Leave Employees, BUYER are referred to herein individually and collectively as the "TRANSFERRED EMPLOYEES." A --------------------- Transferred Employees"Employee shall not have his or her base salary reduced by BUYER for a period of twelve (12) months after the Closing Date. 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 terminate the Office at which the Transferred Employee is employed as employment of the Closing Date, or at the request of the Transferred Employee), terminate employment of, or reduce the base salary of, a Transferred Employee or a Transferred Employee shall terminate his or her employment (the "Terminated EmployeeTERMINATED EMPLOYEE") ------------------- between the Closing Date and the date which is one (1) year from the Closing Date, other than for causecause (as determined in accordance with SELLER's severance plan), 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, termination or reduction in salary under the severance plan of Banc One SELLER applicable to the Terminated Employee as of the date hereof and set forth in Schedule R SCHEDULE O or the severance plan of BUYER otherwise applicable to the Terminated ---------- Employee as of the date of such transfer, termination, or reduction in base salaryClosing Date. Such payment shall be due and owing the Terminated Employee on the date of such transfer, termination, 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 sectionSection. Nothing contained in this Agreement shall be construed as creating an employment agreement between BUYER and an employee of the Offices. (b) SELLER will cooperate with BUYER, to the extent reasonably requested and legally permissible, to provide BUYER with information about the employees of the Offices, including, without limitation, providing BUYER with the personnel files of those employees of the Offices who provide SELLER with their written consent thereto and a means to meet with the subject employees. BUYER hereby agrees to indemnify and to hold SELLER and its affiliates and its and their officer, directors, agents and employees harmless from and against any and all liability, loss, cost and expense, however arising, as a result of release of information and/or files concerning the subject employees.

Employment of Employees. (a) 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 BANK ONE at the Offices as of the date of the Banc One Closing Date (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 BANK ONE as of the Closing Date, and for a base salary not less than that paid by Banc One BANK 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 35 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 BANK 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 Buyer and any Transferred Employee from entering into an agreement satisfactory to both BUYER Buyer and the Transferred Employee providing for resolution of matters set forth in this section. (b) BANK ONE will cooperate with BUYER, to the extent reasonably requested and legally permissible, to provide BUYER with information about the employees of the Offices including, without limitation, providing BUYER with the personnel files of those employees of the Offices who provide BANK ONE with their written consent thereto, and a means to meet with the subject employees. BUYER hereby agrees to indemnify and to hold BANK ONE and its affiliates and its and their officers, directors, agents, and employees harmless from and against any and all liability, loss, cost, and expense, however arising, as a result of release of information and/or files concerning the referenced employees.

Employment of Employees. BUYER (a) Purchaser shall extend offers of employment, as of the Closing Date, to such employees of the Offices Branch Office listed in Schedule R 7.1(a) attached hereto and incorporated herein, which schedule shall include the names of each employee, their date of employment, salary, type of health plan coverage, including single or family coverage, number of dependents and portion of premium paid by employee, and any applicable severance plan as may be employed by Banc One Seller at the Offices Branch Office as of the date of the Banc One Closing Date (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 Seller as of the Closing Date, and for a base salary not less than that paid by Banc One Seller as of the Closing Date, . Employees accepting employment with BUYERPurchaser, including but not limited to the Leave Employees, are referred to herein individually and collectively as the "Transferred Employees". ." In the event that BUYER Purchaser shall transfer (except in a comparable position and for comparable compensation to an office not more than 25 35 miles from the Branch 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.for

Employment of Employees. BUYER (a) Purchaser shall extend offers of employment, as of the Closing Date, to such employees of the Offices Branch Office listed in Schedule R 7.1(a) attached hereto and incorporated herein, which schedule shall include the names of each employee, their date of employment, salary, type of health plan coverage, including single or family coverage, number of dependents and portion of premium paid by employee, and any applicable severance plan as may be employed by Banc One Seller at the Offices Branch Office as of the date of the Banc One Closing Date (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 Seller as of the Closing Date, and for a base salary not less than that paid by Banc One Seller as of the Closing Date, . Employees accepting employment with BUYERPurchaser, including but not limited to the Leave Employees, are referred to herein individually and collectively as the "Transferred Employees". ." In the event that BUYER Purchaser shall transfer (except in a comparable position and for comparable compensation to an office not more than 25 35 miles from the Branch 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 Purchaser 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 Seller applicable to the Terminated Employee as of the date hereof and set forth in Schedule R 7.1 or the severance plan of BUYER Purchaser 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.due