Common use of Offer Letters Clause in Contracts

Offer Letters. Within five (5) business days following the date of this Agreement, Buyer shall provide Seller with the offers of employment to each Business Employee set forth on Schedule 5.7(a), which offer shall be consistent with the provisions set forth in Section 5.7(b)(i) below, shall expressly state that they are contingent upon the Closing of this transaction, shall expressly state that they do not become effective until after the Closing Date, and shall be subject to Buyer’s standard hiring procedures in effect from time to time. Buyer shall give Seller a reasonable opportunity to comment on such offers and consider Seller’s comments in good faith. Buyer may then extend such offers of employment to each Business Employee set forth on Schedule 5.7(a). Effective as of the Closing Date, Buyer will hire each Business Employee who accepts the offer of employment extended to such individual by Buyer (each a “Transferred Employee”); provided, however, that, unless otherwise set forth on Section 5.7, such Transferred Employees shall remain employed “at will,” and Buyer may terminate at any time after the Closing Date the employment of any Transferred Employee who accepts such offer of employment. Seller shall not take any action that would impede, hinder, interfere or otherwise compete with Buyer’s effort to hire any Transferred Employee. Seller shall use its reasonable best efforts to assist Buyer in Buyer’s hiring of the Transferred Employees.