Matters Relating to Employees Clause Samples
The "Matters Relating to Employees" clause defines the rights, responsibilities, and obligations of the parties concerning employees affected by the agreement. It typically addresses issues such as the transfer of employees, continuity of employment, handling of accrued benefits, and compliance with employment laws. For example, it may specify whether employees will be retained, terminated, or offered new contracts, and outline who is responsible for any resulting liabilities. The core function of this clause is to ensure clarity and minimize disputes regarding employee treatment during and after the transaction or contractual relationship.
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Matters Relating to Employees. (a) On or after the Closing, Purchaser may offer employment to any individual employed by Seller in the Business immediately prior to Closing; provided, however, that except as otherwise provided in this Agreement, it is understood that there is no obligation on the part of Purchaser to make any such offers of employment. With respect to employees of Seller who are hired by Purchaser as employees on or following the Closing, Seller and Shareholder agree to cooperate with Purchaser fully in the transition of any such employees to employment with Purchaser. Nothing contained herein shall be cons1rued to effect any rights Purchaser may have on and after the Closing to terminate the employment of any employee at any time.
(b) Nothing in this Agreement expressed or implied shall confer upon any employee of Seller or union, collective bargaining agent or other person or entity any rights or remedies (including, but not limited to, any right to employment or continued employment for any specified period) or right to any particular benefits in connection with any employment of any nature or kind whatsoever.
(c) Purchaser shall assume no obligations or liabilities whatsoever of Seller in respect of worker's compensation, severance, payroll and or unemployment tax, pension, profit-sharing, health insurance, COBRA, accrued but unused vacation or other wage or benefit liabilities in respect of any employees or service providers of Seller, whether or not employed by Purchaser on and after the Closing. ARTICLE SURVIVAL AND INDEMNIFICATION
Matters Relating to Employees. (i) Offers of Employment to Seller's Employees. For the period commencing on the date of execution of this Agreement and continuing until the Closing Date, Buyer shall have the absolute and unfettered right to solicit and to hire and employ any Business Employees effective as of the Closing Date. Buyer shall offer employment to those Business Employees who Buyer, in its sole discretion, elects to solicit for hire. With respect to employees of Seller who are hired by Buyer as of the Closing, Buyer and Seller agree to cooperate fully in the transition of any such employees to employment with Buyer. Nothing contained in this Section shall be construed to give rise to any obligation of Buyer to any employee of Seller.
Matters Relating to Employees