FLEETSHARE EMPLOYEES Sample Clauses

FLEETSHARE EMPLOYEES. Schedule 5.16 lists each employee of the FleetShare Business as of the date of this Agreement (the "FleetShare Employees"). Such Schedule shall be updated as of the date of Closing and as of the date of the termination of the services rendered by Seller under the terms of the Interim Services Agreement relating to the FleetShare Receivables (such date, the "FleetShare Services Termination Date"). Pending the FleetShare Services Termination Date, Seller shall use its best efforts to retain, shall not grant any compensation increase to, and shall not enter into any contract or arrangement for the benefit of any FleetShare Employee other than in the ordinary course of business consistent with Seller's past practices. Effective as of FleetShare Services Termination Date, Purchaser or the Subsidiaries shall offer to employ each FleetShare Employee who is actively at work on the FleetShare Services Termination Date on the terms specified in this Article V. For purposes of applying the provisions of this Agreement to the FleetShare Employees, (a) the FleetShare Employees shall be deemed to be Employees, (b) FleetShare Employees who become employed by Purchaser or either Subsidiary shall become Hired Employees, (c) any former employees of the FleetShare Business shall be deemed to be Former Employees and (d) all references to provisions becoming effective as of the Closing shall become effective with respect to any FleetShare Employee as of the FleetShare Services Termination Date. As soon as practicable after the Subsidiaries have given notice to Seller of the termination of the Services under the Interim Services Agreement that relate to the FleetShare Business, Seller shall provide Purchaser with a download file from Seller's payroll records of the data listed on Schedule 5.14 with respect to all FleetShare Employees.