Future Employment of Employees Sample Clauses

Future Employment of Employees. At Closing, the employment by Seller of all employees whose employment is at or for the Hotel, shall terminate and such employees shall cease to participate in any employee benefit plans maintained by or for the benefit of Seller. Seller shall retain responsibility for the payment of any employee benefits or entitlements, including severance pay, accrued vacation, sick or holiday pay, to all terminated employees pursuant to any employee benefit plan, fund, program, contract, policy or arrangement of Seller or applicable law or regulation as a result of the consummation of the transactions contemplated hereby. Subject to the WARN Act obligations described in the first paragraph of Section 11.4, nothing in this Agreement, express or implied, shall confer upon any employee of Seller, or any representative of any such employee, any rights or remedies, including any right to employment, continued employment for any period, or seniority rights, of any nature whatsoever.
Sample 1
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Future Employment of Employees. At Closing, the employment by Seller of all employees whose employment is at or for the Hotel, shall terminate and such employees shall cease to participate in any employee benefit plans maintained by or for the benefit of Seller. Seller shall retain responsibility for the payment of any employee benefits or entitlements, including severance pay, accrued vacation, sick or holiday pay, to all terminated employees pursuant to any employee benefit plan, fund, program, contract, policy or arrangement of Seller or applicable law or regulation as a result of the consummation of the transactions contemplated hereby. Subject to the WARN Act obligations described in the first paragraph of Section 11.4, nothing in this Agreement, express or implied, shall confer upon any employee of Seller, or any representative of any such employee, any rights or remedies, including any right to employment, continued employment for any period, or seniority rights, of any nature whatsoever, provided, however, that any employee seniority rights shall "vest" with respect to any employees re-hired by Buyer upon Closing and who thereafter remain in Buyer's employment for at least a one (1) year continuous period. Further, Buyer hereby agrees that with respect to any medical benefits provided by Buyer to any employees of the Hotel re-hired by Buyer upon Closing, all "waiting periods" relating to such benefits shall be waived. With respect to the 401(K) benefit plan(s) -41- 44 provided by Buyer to any employees of the Hotel re-hired by Buyer upon Closing, such employees shall be subject to the applicable "qualification" period(s) set forth in such 401(K) benefit plan(s).
Sample 1
Future Employment of Employees. At Closing (12:01 a.m.), the employment by the Seller of all employees whose employment is at or for the Resort, shall terminate and such employees shall cease to participate in any Employee Benefit Plans maintained by or for the benefit of the Seller. Subject to the provisions of Section 8.9.3 of this Contract, Buyer, in its discretion, may offer employment to each individual whose employment was so terminated, with no obligation on Buyer's part to extend offers of employment to any such terminated employees of Seller. The Seller shall retain responsibility for the payment of any employee benefits or entitlements, including severance pay, accrued vacation, worker's compensation, unpaid housing bonuses, unemployment compensation, sick or holiday pay, to all terminated employees pursuant to any Employee Benefit Plan, fund, program, contract, policy or arrangement of the Seller or applicable law or regulation as a result of the consummation of the transactions contemplated hereby. Buyer shall cooperate with Seller to inform Seller as soon as practicable prior to Closing (and if reasonably possible before the end of the Investigation Period) of the existing employees of Seller that will be offered employment by Buyer following the Closing. Nothing in this Contract express or implied, shall confer upon any employee of the Seller, or any representative of any such employee, any rights or remedies, including any right to employment, continued employment for any period, or seniority rights, of any nature whatsoever.
Sample 1
Future Employment of Employees. Notwithstanding anything to the contrary set forth in the Original Agreement or the First Amendment, (a) the date until which American Spectrum Management Co. shall agree to continue the employment of any Employee shall be changed from March 15, 2010 until the date which is sixty two (62) days after the Closing Date, (b) no American Spectrum Party shall have any liability and/or responsibility for any amounts due any Employee who does not accept continued employment with American Spectrum Management Co. and (c) no American Spectrum Party shall have any liability and/or responsibility due any Employee who accepts voluntary employment with American Spectrum Management Co. and thereafter voluntarily terminates his employment with American Spectrum Management Co. for any amounts accrued prior to the Closing Date. Notwithstanding anything to the contrary contained in the Purchase Agreement, as amended, American Spectrum’s obligations with respect to the Employees shall commence at 12:01 a.m. January 17, 2010 and (except as otherwise provided in Section 1 of the First Amendment) no American Spectrum Party shall have any obligations with respect to the Employees prior to such time. 12. Typographical Corrections. The reference to “Evergreen Party” in the fourth line of Section 7.2(c) of the Original Agreement shall be changed to “American Spectrum Party” and the phrase “Subject to Section 2.3(b)” in the first line of Section 7.3(b) of the Original Agreement is hereby deleted. 13.
Sample 1
Future Employment of Employees. Notwithstanding anything to the contrary set forth in the Original Agreement or the First Amendment, (a) the date until which American Spectrum Management Co. shall agree to continue the employment of any Employee shall be changed from March 15, 2010 until the date which is sixty two (62) days after the Closing Date, (b) no American Spectrum Party shall have any liability and/or responsibility for any amounts due any Employee who does not accept continued employment with American Spectrum Management Co. and (c) no American Spectrum Party shall have any liability and/or responsibility due any Employee who accepts voluntary employment with American Spectrum Management Co. and thereafter voluntarily terminates his employment with American Spectrum Management Co. for any amounts accrued prior to the Closing Date. Notwithstanding anything to the contrary contained in the Purchase Agreement, as amended, American Spectrum’s obligations with respect to the Employees shall commence at 12:01 a.m. January 17, 2010 and (except as otherwise provided in Section 1 of the First Amendment) no American Spectrum Party shall have any obligations with respect to the Employees prior to such time.
Sample 1

Related to Future Employment of Employees

  • 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. (b) In the event of a Potential Change in Control, to be entitled to receive the benefits provided by this Agreement, Employee will not voluntarily leave the employ of the Company, and will continue to perform Employee's regular duties and the services specified in the recitals of this Agreement until the Change in Control Date. Should Employee voluntarily terminate employment prior to the Change in Control Date, this Agreement shall lapse upon such termination and be of no further force or effect. (c) If Employee's employment terminates on or after the Change in Control Date, the Company will provide to Employee the payments and benefits as provided in Sections 3 and 4. (d) If Employee's employment is terminated by the Company prior to the Change in Control Date but on or after a Potential Change in Control Date, then the Company will provide to Employee the payments and benefits as provided in Sections 3 and 4 unless the Company reasonably demonstrates that Employee's termination of employment neither (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change in Control nor (ii) arose in connection with or in anticipation of a Change in Control. Solely for purposes of determining the timing of payments and the provision of benefits in Sections 3 and 4 under the circumstances described in this Section 2(d), Employee's date of termination shall be deemed to be the Change in Control Date.

  • Future Employment During Executive’s Company Employment and for eighteen (18) months following the termination of such employment for any reason, before accepting any employment with any Competitive Business (whether or not Executive believes such employment is prohibited by Section 8), Executive shall disclose to the Company the identity of any such Competitive Business and a complete description of the duties involved in such prospective employment, including a full description of any business, territory or market segment to which Executive will be assigned. Further, during Executive’s Company Employment and for two years following the termination of such employment for any reason, Executive agrees that, before accepting any future employment, Executive will provide a copy of this Agreement to any prospective employer of Executive, and Executive hereby authorizes the Company to do likewise, whether before or after the outset of the future employment.

  • Statement of Employment An employer shall, in the event of termination of employment, provide upon request to the employee who has been terminated a written statement specifying the period of employment and the classification or type of work performed by the employee.

  • End of Employment If the employment of an employee who is eligible for the bonus ends before annual payment of the bonus, then 1/12 of the sum that was last paid to the employee in seniority bonus shall be paid to the employee at the time of the final wage payment for each month for which the employee has earned annual holiday as of the start of the preceding December.

  • Re-employment An employee who resigns their position and within 90 days is re-employed, will be granted a leave of absence without pay covering those days absent and will retain all previous rights in relation to seniority and benefits subject to any benefit plan eligibility requirements.

  • CONTRACT OF EMPLOYMENT 22.1 At the point of engagement of each Employee, the Employer must inform the person in writing whether the engagement is on a permanent, casual or job share basis, stating by whom the Employee is employed, the job performed, the classification level, office from which they are engaged and the relevant rate of pay. Employees may relocate and transfer their office of engagement provided that there has been consultation between the Parties and it is agreed in writing between the Employer and the Employee. Each new Employee shall upon commencement also be provided with a copy of this Agreement, or alternatively, access to the Agreement in electronic format at the discretion of the Employee. 22.2 The Employer may direct an Employee to carry out such duties as are reasonably within the limits of the Employee's skill, competence and training consistent with the Employee's classification provided that such duties do not promote deskilling. 22.3 If an Employee is absent from work for a period for which they have or will claim workers' compensation, the Employee's contract of employment shall remain intact during the period of absence. The Employer shall continue to make contributions (and where applicable, reports of service) on behalf of the Employee to BUSSQ, XXXX, BEWT, CIPQ and Qleave or NTBuild or other funds nominated herein. The Employee shall also continue to accrue all appropriate leave entitlements for the first twelve months of the Employee's absence due to the workers compensation claim.

  • Hiring of Employees Company and Shareholders shall cooperate with all requests made by Pentegra for the purpose of allowing Pentegra to hire those non-dentist employees of Company designated by Pentegra, such employment to be effective as of the Closing Date. Notwithstanding the above, Company and Shareholders shall remain liable under any Company Plans for any claims incurred by any employees or their spouses or dependents, and for all compensation, bonuses, benefits and other such items and other liabilities related to Company's employees incurred by Company prior to the Closing Date.

  • 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. 2.2 The Executive warrants that he is not prevented from taking up the Employment or from performing his duties in accordance with the terms of this agreement by any obligation or duty owed to any other party, whether contractual or otherwise.

  • Non-Recruitment of Employees During the Restricted Period, Executive will not, directly or indirectly, solicit, recruit or induce any Employee to (i) terminate his or her employment relationship with the Company or any of its Subsidiaries or (ii) work for any other person or entity engaged in the Business.

  • Separation of Employment (a) If an employee is discharged he shall be paid in full for all monies owing him on the date of his discharge. If an employee quits the Employer may withhold payment for five (5) calendar days. (b) The Employer shall give a Record of Employment Certificate to any employee who separates from employment for at least seven (7) days for any reason within five (5) days of the last day worked, or terminates.

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