Retained Employees Clause Samples
The 'Retained Employees' clause defines which employees of a company will remain employed following a business transaction, such as a merger or acquisition. Typically, this clause lists specific employees or categories of staff who will continue their employment under the new ownership, and may outline any terms or conditions related to their retention, such as duration of employment or benefits. Its core function is to provide clarity and assurance regarding workforce continuity, helping both parties manage expectations and minimize disruption during the transition.
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Retained Employees. Grantee shall have employed two (2) Retained Employees for the Project on or before January 22, 2021 and shall maintain two (2) Retained Employees continuously from January 22, 2021 through May 31, 2024.
Retained Employees. (i) The minimum number of Retained Employees associated with the Project shall be zero (0); and (ii) the Occupation and Payroll of each Retained Employee shall be substantially as set forth in the Schedule of Retained Employees as attached hereto as Exhibit B.
Retained Employees. (i) The minimum number of Retained Employees associated with the Project shall be thirty-nine (39); and (ii) the Occupation and Payroll of each Retained Employee shall be substantially as set forth in the Schedule of Retained Employees as attached hereto as Exhibit B.
Retained Employees. Target and Buyer shall mutually determine the key employees of Target to be retained post Closing.
Retained Employees. VCP shall have delivered a list of the employees of Chamflora who shall remain in their positions after the Closing.
Retained Employees. No later than two business days prior to the Closing, RIGI shall deliver a list of the ARC employees that it shall retain and hire subsequent to Closing.
Retained Employees. On or prior to the Closing Date, the employees of Seller listed on Schedule 2.8 will be offered employment with Purchaser, effective on the Closing Date, on terms determined by Purchaser.
Retained Employees. Buyer and Seller shall jointly notify all Retained Employees (as hereinafter defined) that their employment by Seller will be terminated as of the Closing Date by reason of the transactions contemplated by this Agreement and that Buyer will hire only those employees of Seller engaged in the operation of the Purchased Restaurants designated on Schedule 9.1 hereto (the "Retained Employees"). On the Closing Date, Seller shall (i) terminate all Retained Employees, and (ii) waive any rights it may have to prohibit the Retained Employees from being employed by the Buyer.
Retained Employees. From the date of this Agreement until one year from and after the Closing Date, the Buyer agrees not to (and shall not permit any of its Affiliates to) solicit, offer employment to or employ any Retained Employee without the prior written consent of the Seller; provided that, the foregoing shall not prohibit general solicitations of employment not specifically directed toward such employees of the Seller or its Affiliates or the hiring of such employees in response thereto, nor the hiring, employment or engagement of any such employee of the Seller or its Affiliates who presents himself or herself for employment without direct or indirect solicitation by the Buyer or any Affiliate of the Buyer. The Seller and its Affiliates may retain the services of any Retained Employee or terminate any such Retained Employee’s employment at any time. The Seller and its Affiliates shall retain liability and be responsible for the Retained Employee Obligations. From the date of this Agreement until one year from and after the Closing Date, the Seller shall not, and shall cause its Affiliates not to, cause, solicit, induce or encourage any Transferred Employees to leave their employment with the Buyer or its Affiliates; provided that, the foregoing shall not prohibit general solicitations of employment not specifically directed toward such employees of the Buyer or its Affiliates or the hiring of such employees in response thereto, nor the hiring, employment or engagement of any such employee of the Buyer or its Affiliates who presents himself or herself for employment without direct or indirect solicitation by the Seller or any Affiliate of the Seller.
Retained Employees. It is understood that on and after the Closing, Allan Silber, Morris Perlis and James Sas (the "Retained Employees") ▇▇▇▇▇ ▇▇▇▇▇ to ▇▇ ▇▇▇▇▇▇▇▇▇ of t▇▇ ▇▇mpanies and shall become, or continue to be, employees of the Sellers. The Sellers agree that, subject to the terms of the Transitional Consulting Agreements, the Sellers shall assume, and shall indemnify the Companies against, all liabilities arising after the Closing with respect to the post-Closing employment of the Retained Employees, including without limitation all liabilities arising under any employment agreement or employment benefit plan applicable to any of the Retained Employees. Concurrent with the execution of this Agreement, the Purchaser and the Retained Employees have entered into transitional consulting agreements in the form and substance of the agreements annexed hereto as Appendix 6.14 (the "Transitional Consulting Agreements"). For the first thirty (30) days after the Closing, the Sellers shall make James Sas available to the Companies as a consultant on an as re▇▇▇▇▇ed basis for up to fifty percent (50%) of James Sas' work week. For the next one hundred and fifty (150) days ▇▇▇▇▇after, the Sellers shall make James Sas available to the Companies on an as requested basis for up t▇ ▇▇▇nty percent (20%) of James Sas' work week. The Purchaser shall cause the Company t▇ ▇▇▇mburse the Sellers for work performed by James Sas at the Company's request at a rate of $130 per hour. In the ▇▇▇▇ormance of such work, James Sas shall be employed as an employee of one or both of the Selle▇▇ ▇▇d shall be designated by the Sellers to provide consulting services to the Purchaser in accordance with this Section 6.14.