Common use of Employment of Other Employees Clause in Contracts

Employment of Other Employees. Purchaser will offer employment to all other employees (other than Members) of the Business on terms substantially equivalent to the salary and benefits provided to such employees by Seller. Any such employees so employed will be at-will employees terminable by Purchaser at any time with or without cause, subject to Purchaser’s normal termination policies considering the length of employment of such employee by Purchaser and Seller. Seller agrees to use its best efforts to assist Purchaser in hiring as its employees any employees of Seller under substantially similar terms to the terms under which such employee was employed by Seller. Purchaser will use its best efforts to obtain from X. Xxx Xxxxx, Xxx Xxxxxxxxxx and Xxxxxx Xxxxxxxxx a general release of all known or unknown claims either may have arising out of or in connection with performing services for the Company as an employee, agent and/or consultant (other than claims for indemnity under the Purchaser’s Articles of Incorporation or Bylaws which arise out of their respective actions taken in good faith as directors or officers of Purchaser).

Appears in 4 contracts

Samples: Asset Purchase Agreement (Planet Polymer Technologies Inc), Asset Purchase Agreement (Planet Polymer Technologies Inc), Asset Purchase Agreement (Planet Polymer Technologies Inc)

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Employment of Other Employees. Purchaser will offer employment to all other employees (other than Members) of the Business on terms substantially equivalent to the salary and benefits provided to such employees by Seller. Any such employees so employed will be at-will employees terminable by Purchaser at any time with or without cause, subject to Purchaser’s 's normal termination policies considering the length of employment of such employee by Purchaser and Seller. Seller agrees to use its best efforts to assist Purchaser in hiring as its employees any employees of Seller under substantially similar terms to the terms under which such employee was employed by Seller. Purchaser will use its best efforts to obtain from X. Xxx Xxxxx, Xxx Xxxxxxxxxx and Xxxxxx Xxxxxxxxx a general release of all known or unknown claims either may have arising out of or in connection with performing services for the Company as an employee, agent and/or consultant (other than claims for indemnity under the Purchaser’s 's Articles of Incorporation or Bylaws which arise out of their respective actions taken in good faith as directors or officers of Purchaser).

Appears in 1 contract

Samples: Asset Purchase Agreement (Planet Polymer Technologies Inc)

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