Retained Employee. Each West Caldxxxx Xxx- Retained Employee who continues in Buyer's employment more than 60 days after the Closing Date shall thereafter receive benefits substantially similar to those provided by Buyer to those of its employees who are similarly situated. Buyer shall assume, pay, discharge and be responsible for Seller's cost of providing medical coverage to each West Caldxxxx Xxx-Retained Employee who Buyer terminates within 60 days after the Closing Date or who does not continue in Buyer's employment more than 60 days after the Closing Date (each a "Buyer Terminated West Caldxxxx Xxxloyee") for the 60 day period following Buyer's termination of such Buyer Terminated West Caldxxxx Xxxloyee. Each such Buyer Terminated West Caldxxxx Xxxloyee shall thereafter be eligible for continued medical coverage under Seller's group medical plan pursuant to the provisions (and subject to the limitations) of COBRA; provided that to the extent Buyer provides to any Buyer Terminated West Caldxxxx Xxxloyee medical coverage substantially similar to that provided by Buyer to those of its employees who are similarly situated, such Buyer Terminated West Caldxxxx Xxxloyee shall, after termination, be eligible for continuation of such medical coverage (and shall not be eligible for continued medical coverage under Seller's group medical plan) pursuant to the provisions (and subject to the limitations) of COBRA. Schedule 7.4(b)(ii) sets forth Seller's monthly cost of providing medical coverage to the West Caldxxxx Xxx- Retained Employees following the termination of employment by Seller on the Closing Date of the West Caldxxxx Xxx-Retained Employees.
Retained Employee any individual who remains an Employee ----------------- of Sunburst or any Retained Subsidiary on the Distribution Date. ERISA: the Employee Retirement Income Security Act of 1974, as ----- amended, or any successor legislation. HMO: any health maintenance organization organized under 42 U.S.C. --- (S)300a-9, or a state health maintenance organization statute that provides medical services for Retained Individuals or Choice Individuals under any Plan. Manor Care: Manor Care, Inc., a Delaware corporation. ----------
Retained Employee. Retained Employees shall be eligible to participate in Buyer's benefit programs to the extent consistent with Buyer's standard human resource policies in effect from time to time. Buyer will grant full credit under such programs for prior service with the Sellers for purposes of eligibility, vesting, and benefit accrual; provided, however, (A) Buyer receives adequate records from Sellers reflecting Retained Employees' service; and, (B)such service crediting shall be consistent with Seller's policies, the applicable plan or program, and the providers and carriers of
Retained Employee. The term "Retained Employee" shall mean any Employees who are not Offered Employees, which Retained Employees shall be listed on Schedule 1D to be delivered by Buyer to the Seller on or before the Closing.
Retained Employee. The term "Retained Employee" shall mean any Employees who are not Offered Employees.
Retained Employee any individual who remains an ----------------- Employee of Sunburst or any Retained Subsidiary on the Distribution Date. ERISA: the Employee Retirement Income Security Act of 1974, as ----- amended, or any successor legislation. HMO: any health maintenance organization organized under 42 U.S.C. --- (S)300a-9, or a state health maintenance organization statute that provides medical services for Retained Individuals or Choice Individuals under any Plan. Manor Care: Manor Care, Inc., a Delaware corporation. ---------- Plan: any plan, policy, arrangement, contract or agreement providing ---- compensation benefits for any group of Employees or former employees or any individual Employee or former employee, or the dependents or beneficiaries of any such Employee or former Employee, whether formal or informal or written or unwritten, and including, without limitation, any means, whether or not legally required, pursuant to which any benefit is provided by an employer to any Employee or former employee or the beneficiaries of any such Employee or former employee. The term "Plan" as used in this Agreement does not include any contract, agreement or understanding entered into by Sunburst prior to the Distribution Date or by Sunburst or Choice after the Distribution Date relating to settlement of actual or potential employee related litigation claims.
Retained Employee. The words “Retained Employee” means full-time employees of Grantee employed by Grantee on December 1, 2022, working a minimum of thirty-two (32) hours per week, one of whom shall be employed in a position physically based and situated at the Facility, and the remainder of whom shall be physically based and situated in McKinney. A New Employee shall be considered a Retained Employee on any Payment Date.
Retained Employee. Neither Royal Palm nor RP Bank maintains or contributes to, or has been required to contribute to any employee welfare benefit plan providing medical, health, or life insurance or other welfare-type benefits for current retired or future retired or terminated employees, their spouses, or their dependants (other than in accordance with Code Section 4980B).
