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

Retention of Employees Prior to Closing. The Company agrees to use reasonable efforts to (i) retain the Offer Recipients as employees of the Business until the Closing Date, and (ii) assist Purchaser in securing the employment after the Closing Date of the Offer Recipients. The Company shall notify Purchaser promptly if any Offer Recipient terminates employment with the Company after the date of this Agreement but prior to the Closing.

Appears in 4 contracts

Samples: Asset Purchase Agreement (Purchasesoft Inc), Asset Purchase Agreement (Purchasesoft Inc), Asset Purchase Agreement (Vista Medical Technologies Inc)

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Retention of Employees Prior to Closing. The Company Seller agrees to use reasonable efforts to (i) retain the Offer Recipients as employees of the Business until the Closing Date, and (ii) assist Purchaser in securing the employment after the Closing Date of the Offer Recipients. The Company Seller shall notify Purchaser promptly if any Offer Recipient terminates employment with the Company Seller after the date of this Agreement but prior to the Closing.

Appears in 1 contract

Samples: Asset Purchase Agreement (Viking Systems Inc)

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