Post-Closing Employment Matters. From and after the Closing, the Company shall not be required to continue employing any Persons employed by the Company as of the date of Closing.
Post-Closing Employment Matters. Subject to Section 7.11(e), Parent covenants as follows: 58
Post-Closing Employment Matters. From and after the Closing, subject to any applicable collective bargaining agreement(s), no Company will be required to continue employing or engaging any Person employed or engaged by the Company as of the Closing Date, except as provided in any Employment Agreements executed and delivered at Closing and approved by Purchaser in writing. Purchaser may offer, at its sole discretion, consulting arrangements or terms of employment to certain representatives or employees of the Company.
Post-Closing Employment Matters. (1) The Employees as of immediately prior to the Effective Time are referred to herein as the "Covered Employees". Without limiting any additional rights that any Covered Employee may have under any Employee Plan or under applicable Law, for a period of twelve (12) months following the Effective Time (or, if earlier, until the date of termination of an applicable Covered Employee), the Purchaser will or will cause the Company to provide each Covered Employee with (i) total compensation (excluding retention bonuses, transaction bonuses, termination entitlements and severance) that is substantially comparable in the aggregate to those in effect for such Covered Employee immediately prior to the Effective Time, (ii) notice of termination, pay in lieu of notice and severance benefits to each Covered Employee that are substantially comparable in the aggregate to those that would have been provided to such Covered Employee under the applicable termination and severance benefits plan, programs, policies agreements and arrangements as in effect immediately prior to the Effective Time, and if no such arrangements were then in effect then Covered Employees will be provided with notice or payment in lieu of notice and severance as required by applicable Law, and (iii) employee benefits (excluding equity or equity-based, long-term incentive, retention, transaction, termination, severance, nonqualified deferred compensation, defined benefit pension, or any post-employment or retiree health and welfare benefits or compensation) that are substantially comparable in the aggregate to those that such Covered Employee was entitled to receive immediately prior to the Effective Time under the Employee Plans set forth in Section 3.1(32)(a) of the Company Disclosure Letter; provided that, for greater certainty, neither the Purchaser nor the Company shall have any obligation to offer or grant any equity or equity-based, long- term incentive or any nonqualified deferred compensation to any Covered Employee except where required pursuant to applicable Law.
Post-Closing Employment Matters. (1) Employees as of immediately prior to the Effective Time who continue their employment with Purchaser, the Company or any of their respective Subsidiaries immediately following the Effective Time are referred to herein as the “Continuing Employees.” For a period of at least twelve (12) months following the Effective Time, or (if earlier) the termination of the Continuing Employee's employment with such entities, the Purchaser will or will cause the Company to provide each Continuing Employee with (i) base salary or hourly wages, (ii) target annual cash incentive compensation opportunities (including commissions and target annual bonuses, and excluding any equity incentives or long-term cash incentives), and (iii) employee benefits (excluding retiree health and welfare benefits or defined benefit pension plans or any post-termination or post-employment health benefits) that are substantially comparable, considered in the aggregate, to those that such Continuing Employee was entitled to receive immediately prior to the Effective Time.
Post-Closing Employment Matters. (a) Purchaser shall recognize the International Union of Operating Engineers Local No. 564 (“Local No. 564”) as the exclusive representative of the bargaining unit covered by the April 1, 2007 Collective Bargaining Agreement between Penreco and Local No. 564 (the “Local No. 564 Agreement”), shall offer to assume and adopt, agree to assume and adopt, and upon request by Local No. 564, assume and adopt the Local No. 564 Agreement, and such Local No. 564 Agreement shall remain in full force and effect for its duration. Purchaser shall offer employment to all employees covered by the Local No. 564 Agreement (“Local No. 564 Represented Employees”) on the terms provided in the Local No. 564 Agreement, and with wages, hours and other terms and conditions of employment, including Local No. 564 Represented Employee benefit, retirement and welfare plans and programs in effect at Closing; and
Post-Closing Employment Matters. From and after the Closing Date, Buyer agrees with the Shareholders that:
Post-Closing Employment Matters. Protective shall not, during the first 90 days after the Closing Date, reduce the compensation (cash or non-cash benefits) payable to any employee from the compensation in effect immediately prior to the Closing Date, except that it may change medical coverage plans so long as such change does not result in a lapse of coverage for any affected employee. The foregoing shall not prevent Protective from terminating any employee at any time.
Post-Closing Employment Matters. (a) The Company Employees as of immediately prior to the Effective Time are referred to herein as the “Covered Employees.” Subject to Section 4.9(c), for a period of twelve (12) months following the date of this Agreement, the Purchaser will or will cause the Company to provide each Covered Employee with (i) base salary or hourly wages and cash incentive compensation opportunities that are substantially similar, in the aggregate, to those in effect immediately prior to the date hereof, provided that any form of discretionary compensation continue to be provided at the sole discretion of the Company, and (ii) employee benefits (excluding retiree health and welfare benefits or defined benefit pension plans or any post-termination or post-employment health benefits) that are substantially similar, in the aggregate, to those that such Covered Employee was entitled to receive as at the date hereof, in each case, provided the specific terms of such entitlements have been disclosed on Section 4.9 of the Company Disclosure Letter.
Post-Closing Employment Matters. After the Closing, Purchasers shall cause RSP and RSP-TW to comply, in all material respects, with applicable employment Laws with respect to the Designated Employees who become employees of RSP.
