Termination of Employees by Seller Sample Clauses

Termination of Employees by Seller. Seller will terminate, as of the close of business on the Closing Date, all of its employees who work solely at the Company Owned Stores.
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Termination of Employees by Seller. Prior to the Closing Date, Seller shall notify all employees of the Business that, effective immediately prior to the Closing, their employment with Seller is terminated. Seller shall retain any and all liabilities owed to these employees arising on or before the Closing Date, including all liabilities for sick leave, personal holidays, vacation benefits or other paid time off not used by any such employee prior to their termination and all liabilities or potential liabilities under the Worker Adjustment and Retraining Notification Act (WARN Act, 29 U.S.C. ss.2101 et seq.).
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Termination of Employees by Seller. On or about the Closing Date, Seller shall issue notices of termination of employment to each Transferred Employee.
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Termination of Employees by Seller. Seller and Buyer acknowledge and agree that Buyer does not intend to acquire nor is it acquiring an ongoing business from Seller for any purpose and does not intend to be a successor employer for any purpose. Seller shall provide prior to and effective before the Closing Date written notice of termination of employment satisfying all applicable legal requirements and shall terminate the employment of all Division employees prior to the Closing Date, except in each case for employees not in any Delivered Store who may be retained for other operations. Seller shall pay all salaries, wages, bonuses, commissions, any other employee compensation and any and all payments in lieu of Notice which may be required by applicable laws, any severance payments, all accrued vacation pay and all benefit plan contributions, all other benefits owed to or negotiated with all employees and all benefit payments due as a result of or in connection with the termination of any employees of Seller. Seller shall perform such dismissals and make all payments required under this Agreement in accordance with applicable law. Seller shall also comply with the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA"), and all applicable provisions of state law, including without limitation those portions with respect to continuation of employee benefits. All of the foregoing obligations shall be fulfilled at Seller's sole cost and expense.
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Termination of Employees by Seller. Prior to the Closing, Seller shall terminate all employees, independent contractors, and service contracts. Buyer shall be entitled to hire any such persons or no such persons in its sole and absolute discretion.
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Related to Termination of Employees by Seller

  • Termination of Employees At closing the Vendor will terminate the employment of all employees to whom the Purchaser has made an offer of employment under section 8.1 and will indemnify and save harmless the Purchaser from and against all claims by any employee of the Vendor for wages, salaries, bonuses, pension or other benefits, severance pay, notice or pay in lieu of notice and holiday pay in respect of any period before closing.

  • Termination of Employment by Employee The Employee may terminate his employment at any time. However, he shall be deemed to have terminated his employment for "Good Reason" only if he terminates his employment by giving Notice of Termination pursuant to Paragraphs 6(d) and 6(e)(iii) within ninety (90) days after the occurrence of any of the following events (provided the Company does not cure such event within ten (10) days following its receipt of the Employee's Notice of Termination):

  • Termination of Employment by Death The Employee's Employment will terminate automatically at the time of his death. If the Employee's Employment terminates by reason of the Employee's death, the Company will pay to the Person the Employee has designated in a written notice delivered to the Company as his beneficiary entitled to that payment, if any, or to the Employee's estate, as applicable, in a cash lump sum within 30 days after the Termination Date, the amount equal to the sum of (i) the portion of the Base Salary through the end of the month in which the Termination Date occurs which has not yet been paid, (ii) all compensation the Employee has previously deferred (together with any accrued interest or earnings thereon) which has not yet been paid, (iii) any accrued but unpaid vacation pay (if the Employee dies while on Active Status) and (iv) (A) if the Employee dies while on Active Status or during the Part-time Employment Period (other than during the last 12 months of the Part-time Employment Period), an amount equal to the Base Salary being paid for the Compensation Year in which he dies or (B) if the Employee dies during the last 12 months of the Part-time Employment Period, the product of (1) one-twelfth of the Base Salary being paid for the Compensation Year in which the Employee dies multiplied by (2) the number of whole and partial calendar months in the period beginning with the first calendar month after the calendar month in which he dies and ending with the last calendar month in which the Termination Date would have occurred if the Employee's Employment were to have continued to the end of the Part-time Employment Period. For purposes of this Section 5(d), if the anniversary of the Effective Date in the Compensation Year in which the Employee dies has not occurred on or before the Termination Date, the Base Salary for that Compensation Year will be calculated on the assumption that no increase in the amount thereof would be made effective as of that anniversary pursuant to Section 4(a) or 5(e)(i), as applicable.

  • Termination of Employment by the Executive for Good Reason Subject to the notice and cure provisions set forth below, the Executive may terminate the Executive’s employment with the Company for Good Reason and receive the Severance Package provisions of Section 5 if any of the following have occurred without the Executive’s written consent (“Good Reason”):

  • Termination of Employees Employment For purposes of this Section 3.1(d), the term “pro rata portion” shall mean, with respect to any award of time-vested RSUs, time- vested RSAs or time-vested options, a percentage, when expressed as a fraction, the numerator of which is the number of days from and after the date that begins the vesting period applicable to such installment of RSUs, RSAs or options during which Employee was an employee of the Company, and the denominator of which is the total number of days in the vesting period(s) applicable to such installment of RSUs, RSAs or options assuming Employee had been an employee throughout such vesting period and no event or other matter occurred that would accelerate the vesting of such award. Any options that vest pursuant to this Section 3.1(d) shall remain exercisable through the post-termination exercise period set forth in or contemplated by the agreement evidencing the option. Notwithstanding anything to the contrary in this Agreement, if any payments, awards or benefits are owed or required to be settled or delivered to Employee under Section 3.3 hereof, then Employee shall not be entitled to any payment or benefit under this Section 3.1. Notwithstanding anything to the contrary in this Agreement, if any payments, awards or benefits are owed or required to be settled or delivered to Employee under Section 3.1(c) and (d) and Employee has attained Retirement Eligibility, then Employee shall be entitled to the greater of the payment or benefit under Section 3.1(c) and (d), determined on an aggregate basis with respect to the Eligible RSAs, on the one hand, or Section 3.2, determined on an aggregate basis with respect to the Eligible RSAs, on the other hand. Solely for purposes of this paragraph, the determination of the Eligible RSAs shall assume that the date of Retirement Termination of Employment shall be deemed to have occurred as of the date of the termination of his or her employment regardless of whether such termination occurred due to a Termination of Employee’s Employment or a Retirement Termination of Employment. 3.2

  • Termination of Employment by the Executive During the Term, the Executive may terminate employment with the Company with or without Good Reason (as defined below) by delivering to the Company, not less than thirty (30) days prior to the Termination Date, a written notice of termination; provided, that, if such termination of employment is by the Executive with Good Reason, such notice shall state in reasonable detail the facts and circumstances that constitute Good Reason. This provision does not change the at-will nature of Executive's employment, and the Company may end Executive's employment, pursuant to Executive's notice, prior to the expiration of the thirty (30) days' notice.

  • Termination of Employment The Executive’s employment hereunder shall terminate under the following circumstances:

  • Termination of Employment and Options Vested Options shall terminate, to the extent not previously exercised, upon the occurrence of the first of the following events:

  • Termination of Employment by the Company During the Term, the Company may terminate the Executive's employment at any time with or without Cause (as defined below) pursuant to the Notice of Termination provision below.

  • Termination of Employment Agreements Any and all Employment Agreements entered into between the Company or any of its Subsidiaries and the Executive prior to the date of this Agreement are hereby terminated.

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