Hiring of Branch Employees Sample Clauses

Hiring of Branch Employees. Buyer shall extend offers of employment -------------------------- to branch employees on the payroll of the Branch on the Closing Date (the "Transferred Employees"). Each offer of employment shall be effective as of the Closing Date and shall provide a salary or hourly wage equal to that being paid to such Transferred Employee by Seller as of the Closing Date, except that Buyer may adjust such Transferred Employee's salary if necessary so that it is comparable to the salaries of other employees of the Buyer in similar positions.
Sample 1
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Hiring of Branch Employees. Buyer may, in its sole discretion, extend an offer of employment, effective as of the Effective Time, to all Branch Employees in a substantially equivalent position with (a) base salary or hourly wages which are no less than the base salary or hourly wages provided by Seller immediately prior to the Effective Time; (b) eligibility to participate in the applicable bonus or incentive compensation program that is generally available to similarly situated employees of the Buyer; and (c) eligibility to participate in employee benefits programs that are the same as those generally available to other similarly situated employees of Buyer, as in effect from time to time. Any employee who accepts such an offer shall be a “New Employee.” In the case of any such person who is employed by Buyer, such person’s employment with Buyer shall be on an “at-will” basis, and nothing in this Agreement shall be deemed to constitute an employment agreement with any such person or to obligate Buyer to employ any such person for any specific period of time or in any specific position or to restrict Buyer’s right to terminate the employment of any such person at any time and for any reason satisfactory to it.
Sample 1
Hiring of Branch Employees. (a) Buyer Sub shall extend offers of employment to all employees of Seller actively employed at 2:00 p.m. Eastern Time on the Closing Date (the "Transferred Employees"). Each offer of employment shall be effective as of the Closing Date at 5:00 p.m. Eastern Time and shall provide a salary or hourly wage no less than that being paid to such Transferred Employee by Seller as of the Closing Date. Buyer Sub shall recognize each Transferred Employee's years of service accrued under Seller's benefit plans for the purpose of vesting and eligibility under Buyer Sub's benefit plans and policies and determining the number of paid or unpaid sick or vacation days for which Transferred Employee is eligible under Buyer Sub's policies, but not for determining the amount of any benefit under any qualified retirement plan or any other financial benefit. No Transferred Employee shall be given credit or paid by Buyer Sub for such leave or vacation leave carried over from the calendar year prior to the Closing Date. (b) Beginning with the date of this Agreement, Seller shall not transfer any employee on the payroll of the Branch to a position outside the Branch or solicit any of such employees for such a position, except with the prior written consent of Buyer. (c) For a period of one hundred eighty (180) calendar days following the Closing Date, Seller shall not solicit directly the employment of any Transferred Employee who is employed at the time by Buyer Sub. This prohibition shall not apply to those customary employment advertising or marketing activities of Seller which are not targeted to any Transferred Employee or to solicitations by any recruitment firm retained by Seller, provided that Seller does not suggest that such firm solicit any Transferred Employee. Nothing in this Section 8.1(c) shall prohibit Seller from hiring any Transferred Employee not directly solicited by Seller. (d) Buyer Sub covenants that, for a period of one hundred eighty (180) calendar days following the Closing Date, Buyer Sub shall not terminate the employment of any Transferred Employee, except for good and valid cause ("Cause"). For purposes of this Agreement, the term "Cause" shall mean (i) dishonesty by any Transferred Employee in his or her dealing with Buyer Sub or Buyer which has a material adverse effect upon Buyer Sub or Buyer or their respective businesses; (ii) the commission of fraud by any Transferred Employee, or the conviction (from which no appeal can be taken) of any Transfe...
Sample 1

Related to Hiring of Branch Employees

  • 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.

  • Rehired Employees Amounts forfeited upon termination of employment because of the failure to meet the applicable vesting requirements shall not be reinstated or re-credited if an individual is subsequently rehired or re-employed by the School Corporation. However, if the board shall have approved a leave of absence of not more than one (1) fiscal year for an employee, such period of leave shall not result in forfeiture provided the employee shall promptly return to employment following the expiration of the period of leave.

  • Active Employees Active Employees who have not terminated service during the Plan Year and who meet the following requirements (select all that apply; leave blank if no exclusions): a. [ ] The Employee must be at least age (e.g., 55) b. [ ] The value of the sick and/or vacation leave must be at least $ (e.g., $2,000) c. [ ] A contribution will only be made if the total hours is over (e.g., 10) hours d. [ ] A contribution will not be made for hours in excess of (e.g., 40) hours

  • Continuing Employees “Continuing Employees” is defined in Section 6.4 of the Agreement.

  • Month Employees TWELVE (12) MONTH EMPLOYEES WHO HAVE COMPLETED ONE (1) YEAR OF CONTINUOUS SERVICE AND WHO HAVE ACCUMULATED TWENTY-FOUR (24) DAYS OF SICK LEAVE WILL BE AUTOMATICALLY ENROLLED IN THE USLB. Employees meeting the eligibility requirements will be assessed a contribution when enrolled. The initial assessment and subsequent employee contributions will be based upon the needs of the USLB as determined by its governing committee.

  • Probation for Newly Hired Employees (a) The Employer may reject a probationary employee for just cause. A rejection during probation shall not be considered a dismissal for the purpose of Article 11.2

  • Business Employees a) Prior to the Closing, Seller shall update the information provided in Schedule 3.10(a)(i) as of the Closing Date. b) As of the Closing Date, Buyer shall make offers of employment to at least the number of Business Employees of Seller set forth on Schedule 5.4(b) whom shall be specifically identified by Buyer prior to the Closing. The initial term of employment shall be for a period no less than three (3) months, subject to termination for cause, which cause shall be determined by the Buyer or Buyer Designee in its sole discretion. At the end of the initial three (3) month term, the Buyer or Buyer Designee shall have the option to extend employment to those Business Employees as it determines in its sole discretion. To the extent permitted by applicable Law, including data privacy and data protection Laws, Seller agrees to provide Buyer with such information reasonably requested by Buyer to assist it with complying with the terms of this Section 5.4 and to assist Buyer with determining the wages paid to the Transferred Employees (as defined below) with respect to the period beginning on December 29, 2017 and ending on the Closing Date. Without limiting the foregoing, each Party shall comply with all applicable Laws in connection with the transfer of the employees to Buyer or a Buyer Designee, including with respect to notice and other procedural requirements. Any offered Employee who accepts Buyer’s offer of employment and commences employment with Buyer or a Buyer Designee shall be referred to as a “Transferred Employee”. Employment of the Transferred Employees with Buyer or a Buyer Designee shall be effective as of the day following the close of business on the Closing Date. c) Where terms are not dictated by applicable Law, Buyer or a Buyer Designee shall provide, or shall cause to be provided, to Transferred Employees, during their employment with Buyer or a Buyer Designee, at a minimum, the same base salaries or, as applicable, base wage rates, offered by Seller immediately prior to the Closing Date (but taking into account the 2018 salary increases) as set forth on Schedule 3.10(a)(i). Except as expressly set forth in this Section 5.4, no Benefit Plans or assets of any Benefit Plan shall be transferred to Buyer or any Affiliate of Buyer. d) Seller and Buyer intend that the transactions contemplated by this Agreement shall not constitute a severance of employment, under the terms of any Benefit Plan of Seller, of any Transferred Employee prior to or upon the consummation of the transactions contemplated hereby and that such employees will have continuous and uninterrupted employment immediately before and immediately after the Closing Date. Notwithstanding anything to the contrary in this Agreement, Buyer shall provide, at a minimum, severance benefits substantially equivalent to the benefits contained in the plans listed or as described on Schedule 5.4(d) to Transferred Employees whose employment is terminated involuntarily by Buyer on or before December 31, 2017 other than terminations in circumstances that would not require payments of severance benefits under Seller’s severance plan. e) Notwithstanding anything herein to the contrary, nothing in this Agreement shall require Buyer or a Buyer Designee to employ any Business Employees, or to employ any Transferred Employee on anything other than an at-will basis, terminable at any time with or without cause unless required otherwise under applicable Law. Nothing in this Section 5.4, expressed or implied, shall confer upon any employee or former employee of Seller or related entities (including, without limitation, the Transferred Employees) any rights or remedies (including, without limitation, any right to employment or continued employment for any specified period) of any nature or kind whatsoever, under or by reason of this Section 5.4. It is expressly agreed that the provisions of this Section 5.4 are not intended to be for the benefit of or otherwise be enforceable by, any third party, including, without limitation, any Transferred Employees. No provision of this Section 5.4 shall create any rights in any such persons in respect of any benefits that may be provided under any Benefit Plan or any plan or arrangement which may be established or maintained by Buyer, shall be construed to establish, amend, or modify an Benefit Plan or any other benefit plan, program, agreement or arrangement nor shall require Seller, Buyer or any Affiliate of Seller or Buyer to continue or amend any particular benefit plan and any such plan may be amended or terminated in accordance with its terms and applicable Law

  • Affected Employees 6.8(a) Affiliate............................................................................... 5.1(a)(iii) Agreement...............................................................................

  • TIME EMPLOYEES Part-time employee means an employee whose weekly scheduled hours of work on average are less than those established in Article 25 but not less than those prescribed in the Public Service Labour Relations Act.

  • Newly Hired Employees All employees hired to an insurance eligible position must make their benefit elections by their initial effective date of coverage as defined in this Article, Section 5C. Insurance eligible employees will automatically be enrolled in basic life coverage. If employees eligible for a full Employer Contribution do not choose a health plan administrator and a primary care clinic by their initial effective date, and do not waive medical coverage, they will be enrolled in a Benefit Level Two clinic (or Level One, if available) that meets established access standards in the health plan with the largest number of Benefit Level One and Two clinics in the county of the employee’s residence at the beginning of the insurance year. If an employee does not choose a health plan administrator and primary care clinic by their initial effective date, but was previously covered as a dependent immediately prior to their initial effective date, they will be defaulted to the plan administrator and primary care clinic in which they were previously enrolled.

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