Common use of Transfer of Employee Clause in Contracts

Transfer of Employee. The transfer of an employee from the Company to a Subsidiary, from a Subsidiary to the Company, or from one Subsidiary to another shall not be considered a termination of employment; nor shall it be considered a termination of employment if an employee is placed on military or sick leave or such other leave of absence which is considered by the Committee as continuing intact the employment relationship.

Transfer of Employee. The transfer Transfer of an employee from the Company to a Subsidiarysubsidiary, from a Subsidiary subsidiary to the Company, or and from one Subsidiary subsidiary to another shall not be considered a termination of employment; nor . Nor shall it be considered a termination of employment if an employee is placed on military or sick leave or such other leave of absence which is considered by the Committee as continuing intact the employment relationship; in such a case, the employment relationship shall be continued until the date when an employee's right to reemployment shall no longer be guaranteed either by law or by contract.