Non-Transferred Employees. Nothing in this Agreement shall be deemed to impose on Purchaser any liabilities or responsibilities for periods prior to the Closing regarding individuals who do not become employees of Purchaser pursuant to offers of employment made under Section 12.5(b), including, without limitation, liabilities or responsibilities for (i) pension, retirement, profit-sharing, savings, pension, medical, dental, disability income, life insurance, or accidental death benefits, whether insured or self-insured, whether funded or unfunded, (ii) workers’ compensation (both long term and short term) benefits, whether insured or self-insured, whether or not accruing or based upon exposure to conditions prior to the date of this Agreement or for claims incurred or for disabilities commencing prior to the Closing Date, or (iii) severance benefits.
Non-Transferred Employees. As of the Closing Date, TRM and the Purchasing Insurers will retain and be responsible for all compensation, benefit, severance and employment related obligations and Liabilities relating to each Non-Transferred Employee and each Transferred Employee in respect of any period prior to such Transferred Employee’s Transfer Date. 7.5
Non-Transferred Employees. Except with respect to any Employee on an authorized leave of absence as of the Closing Date who does not return to active employment with Xxxxxxx within one year following the Closing Date, World Heart and/or Newco agrees to retain all liability, if any, for any Employee who is not offered continued employment with Newco or who is offered a position with Newco but rejects that employment offer. Any Employee on an authorized leave of absence as of the Closing Date shall remain an employee of Xxxxxxx; PROVIDED, HOWEVER, that should such Employee return to active employment with Xxxxxxx within one year following the Closing Date, Newco and/or World Heart (upon receipt of written notice from Xxxxxxx advising that such Employee has returned to active employment) shall offer to employ such Employee on terms and conditions of employment that are substantially similar to the terms and conditions of such Employee's employment with Xxxxxxx as of the Closing Date, in a form substantially similar to that set forth on Schedule 4.8.
Non-Transferred Employees. The parties acknowledge that employees engaged following lease are not covered by the job security provisions of the Electricity Corporations (Restructuring and Disposal) Act 1999.
Non-Transferred Employees. The Parties acknowledge and agree that if any U.S. Business Employee who is not a Seller Continuing Company U. S. Employee or Purchaser Continuing Company U. S. Employee does not accept the Comparable Offer of Employment (a “Non-Transferred U.S. Employee”), the Purchaser Group or the Seller Group, as applicable, will terminate the employment of the Non-Transferred U.S. Employee as of or promptly after the Closing Date.
Non-Transferred Employees. The Seller will retain and be responsible for all compensation, benefit, severance and employment related obligations and liabilities relating to each Non-Transferred Employee. The Seller will retain and be responsible for all compensation, benefit and employment related obligations and liabilities relating to each Transferred Employee in respect of any period prior to such Transferred Employee’s Transfer Date.
Non-Transferred Employees. In the event redundancy proceeds, Utilities Management will provide to the employee who is to be made redundant five (5) weeks notice or payment in lieu thereof. Where payment in lieu does not apply, employees will not be entitled to payment for any proportion of the notice period not worked, excluding sick leave or other approved leave.
Non-Transferred Employees. Redundancy Non Transferred Employees may be made redundant if their position is no longer required as a result of reorganisation, changed business practice/requirements, technological change or a downturn in business. If, as a result of the above, an employee’s position is considered surplus consultation will occur with the employee(s) and their union. Severance pay will include all-purpose allowance(s). Each affected employee will be allowed the equivalent hours of up to two (2) days off on full pay during the period of notice for the purpose of attending a job interview/financial counselling. Severance pay will be calculated at a minimum of two (2) weeks and then two (2) weeks for each continuous year of completed service thereafter with Utilities Management subject to a ceiling of twenty (20) weeks. Pro rata payment will apply in the last year of uncompleted service. Upon date of termination, redundant employees will receive a pro rata payment for any accrued annual leave not yet taken, plus, any annual leave loading that would have been placed on that leave. Employees will receive long service leave not yet taken, if they have completed seven (7) years of continuous service.
Non-Transferred Employees. Nothing in this Section ------------------------- 7.5 shall be deemed to impose upon Purchaser any liabilities or responsibilities regarding individuals who do not become employees of Purchaser pursuant to offers of employment made under Section 7.5(a) (including, without limitation, individuals to whom offers are not required to be made under Section 7.5(a)), including, without limitation, liabilities or responsibilities for (i) pension, retirement, profit-sharing, savings, medical, dental, disability income, life insurance or accidental death benefits, whether insured or self-insured, whether funded or unfunded, (ii) workers' compensation (both long term and short term) benefits, whether insured or self-insured, whether or not accruing or based upon exposure to conditions prior to the date of this Agreement or for claims incurred or for disabilities commencing prior to the Closing Date, or (iii) severance benefits.
Non-Transferred Employees. The Seller shall satisfy all obligations and liabilities to the Seller's or NLT's employees not hired by the Buyer at the Closing (including, but not limited to, accrued salaries, wages and bonus, vacation, unreimbursed business expenses, and any obligations or liabilities under Employee Plans of the Seller or NLT) in an irrevocable manner at the Closing such that any such non-Transferred Employee receives the greater of (i) the amounts due to such non-Transferred Employee under the Seller's or NLT's welfare and benefit policies as of the date hereof or (ii) such amount as may be required under applicable Law (including, but not limited to, the WARN Act). The Buyer shall provide each Seller employee other than an employee who is a Transferred Employee or a Transition Employee with coverage under COBRA to the extent required thereunder.
