Common use of Offer of Employment Clause in Contracts

Offer of Employment. (a) The parties hereto intend that there shall be continuity of employment with respect to all of the employees of the Business. Subject to Purchaser's (or its Affiliates') ordinary ninety-day orientation period, Purchaser shall offer employment at will, commencing on the Closing Date, to all employees, including those on vacation, leave of absence or disability, who were employed by the Business immediately prior to Closing, on substantially the same terms in the aggregate (including salary, fringe benefits, job responsibility and location but excluding employee stock ownership and incentive plans) as those provided to similar employees of Purchaser (or its Affiliates) immediately prior to Closing to the extent permitted under applicable law. Those persons who accept Purchaser's offer of employment and commence working with Purchaser on the Closing Date shall hereafter be referred to as "TRANSFERRED EMPLOYEES." The parties hereto agree that nothing in this Agreement shall limit Purchaser's ability after the Closing Date to modify or terminate (i) the employment of any Transferred Employee or (ii) any benefit policy, plan or program offered to or covering any Transferred Employee.

Offer of Employment. (ai) The parties hereto intend that there shall be continuity of employment with respect to all of the employees of the Business. Subject to Purchaser's (or its Affiliates') ordinary ninety-day orientation period, Purchaser Buyer shall offer employment at will, commencing on or before the Closing Date, to all employeesBusiness Employees (other than those employees of the Aerospace Business set forth in Section 5.2 of the Seller Disclosure Schedule (the "Retained Employees")) identified by Buyer on Schedule A, including those on vacation, leave of absence or disability, who were employed by the Aerospace Business immediately prior to Closing, on substantially the same terms in the aggregate (including salary, fringe benefitsbenefits and job responsibility, job responsibility and location but excluding employee stock ownership ownership, stock option and incentive plans) as those provided to similar employees of Purchaser Buyer (or its Affiliates) immediately prior to the Closing to the extent permitted under by applicable law. Those persons Persons who accept PurchaserBuyer's offer of employment and commence working with Purchaser Buyer on the Closing Date shall hereafter be are referred to in this Agreement as the "TRANSFERRED EMPLOYEESTransferred Employees." The parties hereto agree that nothing in this Agreement shall limit PurchaserBuyer's ability after the Closing Date to modify or terminate (iA) the employment of any Transferred Employee or (iiB) any benefit policy, plan or program offered to or covering any Transferred Employee."