Common use of Post-Distribution Transfers Clause in Contracts

Post-Distribution Transfers. For a period of 90 days after the Distribution Date, an Employee who leaves the service of one party to immediately begin employment with the other party (i.e., leaving Company employment to work for Lakes or any its subsidiaries, or leaving Lakes employment to work for Company or any its subsidiaries) shall be provided by the successor employer with the same balance of vested and unvested vacation and sick leave hours as had been accrued by the former Employer through such termination date. The former Employer shall promptly notify the successor Employer in writing of the occurrence of any termination subject to the provisions of this Section 5.3(b); and the former Employer shall make a payment to the successor Employer within thirty (30) days of the aforesaid termination date in an amount equal to the value of the terminating Employee's vested balance of vacation leave and sick leave accrued by the former Employer through such termination date, based on the Employee's final rate of pay with the former Employer. No payment shall be made by the former Employer to the successor Employer for any unvested sick leave or vacation leave balance relating to any post-Distribution transfer, whether within or after the 90-day period referred to above.

Post-Distribution Transfers. For a period of 90 days after the Distribution Date, an Employee who leaves the service of one party to immediately begin employment with the other party (i.e., leaving Company Hilton employment to work for Lakes or any its subsidiariesPark Place, or leaving Lakes Park Place employment to work for Company or any its subsidiariesHilton) shall be provided by the successor employer with the same balance of vested and unvested vacation and sick leave hours as had been accrued by the former Employer through such termination date. The former Employer shall promptly notify the successor Employer in writing of the occurrence of any termination subject to the provisions of this Section 5.3(b); , and the former Employer shall make a payment to the successor Employer within thirty (30) days of the aforesaid termination date in an amount equal to the value of the terminating Employee's vested balance of vacation leave and sick leave accrued by the former Employer through such termination date, based on the Employee's final rate of pay with the former Employer. No payment shall be made by the former Employer to the successor Employer for any unvested sick leave or vacation leave balance relating to any post-Distribution transfer, whether transfer which occurs within or after the 90-day period referred to above.

Post-Distribution Transfers. For a period of 90 days after the Distribution DateThrough December 31, 1998, an Employee who leaves the service of one party Party to immediately begin employment with the other party Party (i.e., leaving Company PEI employment to work for Lakes or any its subsidiariesPriceSmart, or leaving Lakes PriceSmart employment to work for Company or any its subsidiariesPEI) shall be provided by the successor employer with the same balance of vested and unvested vacation and sick leave hours as had been accrued by the former Employer through such termination date. The former Employer shall promptly notify the successor Employer in writing of the occurrence of any termination subject to the provisions of this Section 5.3(b2.07(b); , and subject to the provisions of Section 3.04(b), the former Employer shall make a payment to the successor Employer within thirty (30) days of the aforesaid termination date in an amount equal to the value of the terminating Employee's vested balance of vacation leave and sick leave accrued by the former Employer through such termination date, based on the Employee's final rate of pay with the former Employer. No payment shall be made by the former Employer to the successor Employer for any unvested sick leave or vacation leave balance relating to any post-Distribution transfer, whether within or after the 90-day period referred to above.

Post-Distribution Transfers. For a period of 90 days after the Distribution DateThrough December 31, 1998, an Employee who leaves the service of one party Party to immediately begin employment with the other party Party (i.e., leaving Company PEI employment to work for Lakes or any its subsidiariesPriceSmart, or leaving Lakes PriceSmart employment to work for Company or any its subsidiariesPEI) shall be provided by the successor employer with the same balance of vested and unvested vacation and sick leave hours as had been accrued by the former Employer through such termination date. The former Employer shall promptly notify the successor Employer in writing of the occurrence of any termination subject to the provisions of this Section 5.3(b2.07(b); and , and, subject to the provisions of Section 3.04(b), the former Employer shall make a payment to the successor Employer within thirty (30) days of the aforesaid termination date in an amount equal to the value of the terminating Employee's vested balance of vacation leave and sick leave accrued by the former Employer through such termination date, based on the Employee's final rate of pay with the former Employer. No payment shall be made by the former Employer to the successor Employer for any unvested sick leave or vacation leave balance relating to any post-Distribution transfer, whether within or after the 90-day period referred to above.