Common use of Retention of Employees Prior to Closing Clause in Contracts

Retention of Employees Prior to Closing. Seller shall expend its reasonable efforts to assist Buyer in securing the employment on the Closing Date of the Seller employees; provided, however, that Seller shall not be required to incur any financial obligation beyond continuing to pay for current employee compensation and benefits prior to the Closing in connection with the foregoing unless otherwise required by this Agreement.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Relationserve Media Inc), Asset Purchase Agreement (Theglobe Com Inc)

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Retention of Employees Prior to Closing. Seller shall expend its reasonable efforts to assist Buyer in securing the employment on the Closing Date of the Seller employeesDel High Voltage Employees; provided, however, that Seller shall not be required to incur any financial obligation beyond continuing to pay for current employee compensation and benefits prior to the Closing in connection with the foregoing unless otherwise required by this Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Del Global Technologies Corp)

Retention of Employees Prior to Closing. Seller shall expend its reasonable efforts to assist Buyer in securing the employment on the Closing Date of the Seller employeesEmployees; provided, however, that Seller shall not be required to incur any financial obligation beyond continuing to pay for current employee compensation and benefits prior to the Closing in connection with the foregoing unless otherwise required by this Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Computer Horizons Corp)

Retention of Employees Prior to Closing. Seller shall expend its agrees to use reasonable efforts to retain the Employees as employees of the Business until the Closing Date, and to assist Buyer in securing the employment on after the Closing Date of the Seller employees; provided, however, that those Employees to whom Buyer (or Affiliate designated by Buyer) makes or intends to make offers of employment under subsection (a) above. Seller shall not be required transfer any Employee to incur any financial obligation beyond continuing to pay for current employee compensation and benefits prior to the Closing in connection employment with the foregoing unless otherwise required by this Agreement.Seller outside

Appears in 1 contract

Samples: Asset Purchase Agreement (New Valley Corp)

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Retention of Employees Prior to Closing. Seller shall expend its reasonable efforts to assist Buyer in securing the employment on the Closing Date of the Seller employeesEmployees; provided, however, that Seller shall not be required to incur any financial obligation beyond continuing to pay for current employee compensation and benefits prior to the Closing in connection with the foregoing unless otherwise required by this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (Theglobe Com Inc)

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