Severance Claims Clause Samples
The Severance Claims clause defines the rights and procedures related to claims for severance pay when an employee's employment is terminated. Typically, this clause outlines the conditions under which severance is owed, such as involuntary termination without cause, and may specify the amount or formula for calculating severance payments. By clearly establishing the terms for severance compensation, this clause helps prevent disputes and ensures both parties understand their obligations and entitlements in the event of termination.
Severance Claims. Technologies shall assume, and shall indemnify and hold BEI harmless against, all claims and liabilities for severance, change-in- control or termination benefits arising out of or resulting from the transfer of employment of any employee of BEI or any of its Subsidiaries to Technologies or any of its Subsidiaries at the Effective Time.
Severance Claims. 17 Article 7 Miscellaneous.......................................................... 17 7.1
Severance Claims. Primex shall assume, and shall indemnify and hold O▇▇▇ harmless against, all claims and liabilities for severance, change-in-control or termination benefits arising out of or resulting from the transfer of employment of any employee of O▇▇▇ or any of its Subsidiaries to Primex or any of its Subsidiaries at the Effective Time.
Severance Claims. The Company and the Associated Subsidiaries shall be responsible for any claim of severance by a person who refuses CNCO's offer of employment made in accordance with Section 10.1 hereof pursuant hereto. CNCO shall be responsible for any claim of severance made by any person who accepts such offer of employment, who becomes an employee of CNCO and whose employment is thereafter terminated. CNCO shall reimburse the Company and the Associated Subsidiaries for any payments made in respect of severance to any person who does not accept CNCO's offer of employment pursuant hereto but who is employed by CNCO or a subsidiary or Affiliate within one year after the Transfer Date.
Severance Claims. Seller shall be responsible for any claim of severance by a person who refuses Buyer's offer of employment made in accordance with Section 7(a) hereof pursuant hereto. Buyer shall be responsible for any claim of severance made by any person who accepts such offer of employment, who becomes an employee of Buyer and whose employment is thereafter terminated. Buyer shall reimburse Seller for any payments made in respect of severance to any person who does not accept Buyer's offer of employment pursuant hereto but who is employed by Buyer or a subsidiary or Affiliate within one year after the Transfer Date.
Severance Claims. OpticNet shall assume, and shall indemnify and hold Technologies harmless against, all claims and liabilities for severance, change-in-control or termination benefits arising out of or resulting from the transfer of employment of any employee of Technologies or any of its subsidiaries to OpticNet at or after the Effective Time.
Severance Claims. 11 ARTICLE 7 MISCELLANEOUS..................................................................................11 7.1 Complete Agreement; Construction...............................................................11 7.2 Ancillary Agreements...........................................................................11 7.3 Counterparts...................................................................................11 7.4 Survival Of Agreements.........................................................................11 7.5 Expenses.......................................................................................11 7.6 Notices........................................................................................11 7.7 Waivers........................................................................................12 7.8 Amendments.....................................................................................12 7.9 Assignment.....................................................................................12 7.10 Successors And Assigns.........................................................................12 7.11 Termination....................................................................................12 7.12 Subsidiaries...................................................................................12 7.13 Third Party Beneficiaries......................................................................12
Severance Claims. 17 (d) WARN Act Liability................................ 17 (e) Undue Hardship to Buyer........................... 17 SECTION 8. Documents Delivered at the Closing.............. 18
Severance Claims. 17 (d) WARN Act Liability . . . . . . . . . . . . . . . . . . . . . . . . . 17 (e) Undue Hardship to Buyer . . . . . . . . . . . . . . . . . . . . . . . 17 SECTION 8. Documents Delivered at the Closing . . . . . . . . . . . . . . . . . . 18
Severance Claims. Primex shall assume, and shall ----------------- indemnify and hold ▇▇▇▇ harmless against, all claims and liabilities for severance, change-in-control or termination benefits arising out of or resulting from the transfer of employment of any employee of ▇▇▇▇ or any of its Subsidiaries to Primex or any of its Subsidiaries at the Effective Time.