Unused Vacation, Sick Leave and Personal Time Sample Clauses

Unused Vacation, Sick Leave and Personal Time. Purchaser shall honor all unused accrued vacation, sick leave and other personal time off of each Transferred Employee during the calendar year in which the Closing Date occurs, to the extent an accrual for such Liability is reflected on the Closing Adjusted Net Asset Statement. Thereafter, the Transferred Employees shall be subject to, and commence to accrue benefits under, the vacation, sick leave and other personal time off policies of Purchaser applicable to the respective Transferred Employee, consistent with Section 6.1 of this Agreement; provided that, unless Purchaser’s plan otherwise provides for more generous carry over rules, the Transferred Employees shall be entitled to carryover unused vacation, sick leave and other personal time off to the calendar year following the calendar year in which the Closing Date occurs to the same extent any such time would have been carried over under Seller’s policies (and, with respect to Transferred Employees based in the United States, in all cases not to exceed a maximum of five carry-over days unless otherwise required by applicable Law).
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Unused Vacation, Sick Leave and Personal Time. To the extent Seller or any of its Affiliates is required by Law, to pay out any accrued and unused vacation, sick leave, personal time, or other paid time off to (i) any Business Employee who is not a Transferred Employee at any time prior to, on or after the Closing Date, and (ii) to any Transferred Employee for amounts accrued at any time prior to or at the Closing, Seller shall be solely liable for all such amounts. To the extent Purchaser or any of its Affiliates is required by Law, to pay out any accrued and unused vacation, sick leave, personal time, or other paid time off to any Transferred Employee for amounts accrued at any time after the Closing, Purchaser shall be solely liable for all such amounts. Purchaser shall assume and honor under substantially equivalent terms and conditions all accrued and unused vacation, sick leave and personal time, or other paid time off of each other Transferred Employee for at least twelve (12) months after Closing. Thereafter, the Transferred Employees shall be subject to, and commence to accrue benefits under, the vacation, sick leave and other personal time-off policies of Purchaser applicable to the respective Transferred Employee, consistent with Section 6.1 and Section 6.2; provided, however, that Purchaser agrees to provide to each Transferred Employee either the same accrual rate or a more favorable accrual rate as the rate set forth under the applicable policies of Seller or any of its Affiliates immediately prior to the Closing during the period beginning on the Closing Date and ending on the date that is twelve (12) months thereafter. The Parties acknowledge and agree that for Transferred Employees employed in countries within the European Union, no payment of days of leave or any other accrued but unused vacation, sick leave, or other paid time off shall occur, as such employees’ employment shall be transferred and continued, the Closing and Purchaser shall assume and honor those entitlements in accordance with applicable Law. At the Closing, except to the extent such amounts are accrued in the Financial Statements at the Closing Date, Seller shall pay to Purchaser the amount of the corresponding cost of any such entitlements. The Parties shall identify those entitlements in good faith whilst negotiating the Local Purchase Agreements.
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Unused Vacation, Sick Leave and Personal Time. Purchaser shall assume all unused or unpaid annual bonuses, vacation, sick leave and other personal time off of each Transferred Employee during the calendar year in which the Closing occurs.
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Unused Vacation, Sick Leave and Personal Time. Purchaser shall honor all unused vacation, sick leave and other personal time off (collectively, the “Transferred Leave”) of each Transferred Employee, either by allowing such Transferred Employee to use such accrued vacation or by cashing out such accrued vacation subject to applicable Law, at Purchaser’s discretion. Following Closing, the Transferred Employees shall be subject to, and commence to accrue benefits under, the vacation, sick leave and other personal time off policies of Purchaser applicable to the respective Transferred Employee, consistent with Section 6.1, subject to the protections regarding Transferred Leave described in the immediately preceding sentence.
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Unused Vacation, Sick Leave and Personal Time. Purchaser shall cause the members of the Transferred Group to honor all unused vacation, sick leave and other personal time off of each Business Employee during the calendar year in which the Closing occurs. Thereafter, the Business Employees shall be subject to, and commence to accrue benefits under, the vacation, sick leave and other personal time off policies of Purchaser applicable to the respective Business Employee, consistent with Section 6.1 of this Agreement.
Sample 1
Unused Vacation, Sick Leave and Personal Time. Purchaser shall comply with its obligations under the Transfer of Undertakings (Protection of Employment) Regulations 2006 (as amended) or equivalent provisions under local Law in respect of unused vacation, sick leave and personal time due to Transferred Employees who automatically transferred to the Purchaser pursuant to Section 6.1(b). To the extent Seller or any Seller Person is required, including by Law or company policy, to pay out accrued, unused vacation to any Transferred Employee prior to the Closing (in connection with any such employee’s transfer into an Acquired Company or any of their Subsidiaries) or to any Offer Employee on or following the Closing, Purchaser shall timely reimburse Seller for all such amounts. In respect of all other Business Employees. Purchaser shall assume and honor under substantially equivalent terms and conditions all accrued and unused vacation, sick leave and other personal time off of each other Transferred Employee for at least twelve (12) months after Closing. Thereafter, the Transferred Employees shall be subject to, and commence to accrue benefits under, the vacation, sick leave and other personal time-off policies of Purchaser applicable to the respective Transferred Employee, consistent with Section 6.1 and Section 6.2 of this Agreement.
Sample 1
Unused Vacation, Sick Leave and Personal Time. At the Closing, the Company Group shall assume and honor all vacation, sick leave and other personal time off accrued and unused as of the Closing of each Transferred Employee. Thereafter, such accrued and unused time shall be subject to the vacation, sick leave and other personal time-off policies of the Company Group applicable to the respective Transferred Employee, consistent with Section 8.1 and Section 8.2 of this Agreement.
Sample 1
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Related to Unused Vacation, Sick Leave and Personal Time

  • Personal Time Off Executive shall be entitled to paid time off in accordance with the Company’s policies applicable to executives.

  • Vacation, Holidays and Sick Leave During the Term, the Executive shall be entitled to paid vacation, paid holidays and sick leave in accordance with the Company's standard policies for its senior executive officers.

  • Vacation, Sick Leave and Holidays Executive shall be entitled to four (4) weeks (28 business days) of vacation, and also sick leave and holidays at full pay in accordance with the Company’s policies established and in effect from time to time.

  • Vacations and Sick Leave The Executive shall be entitled to paid annual vacation leave in accordance with the policies as established from time to time by the Board of Directors, which shall in no event be less than four weeks per annum. The Executive shall also be entitled to an annual sick leave benefit as established by the Board for senior management employees of the Bank. The Executive shall not be entitled to receive any additional compensation from the Bank for failure to take a vacation or sick leave, nor shall he be able to accumulate unused vacation or sick leave from one year to the next; provided, however, such Executive may carry forward from year to year a maximum of ten days of unused vacation leave.

  • Vacation; Sick Leave During the Employment Term, the Executive shall be entitled to not less than four (4) weeks of vacation during each calendar year and sick leave in accordance with the Company’s policies and practices with respect to its executives.

  • Vacation and Sick Leave At such reasonable times as the Board of Directors shall in its discretion permit, the Employee shall be entitled, without loss of pay, to absent himself voluntarily from the performance of his employment under this Agreement, with all such voluntary absences to count as vacation time; provided that:

  • Vacation; Holidays The Executive shall be entitled to all public holidays observed by the Company and vacation days in accordance with the applicable vacation policies for senior executives of the Company, which shall be taken at a reasonable time or times.

  • Vacation; Paid Time Off During the Employment Term, the Executive shall be entitled to fifteen (15) paid vacation days per calendar year (prorated for partial years) in accordance with the Company’s vacation policies, as in effect from time to time that is at least as favorable as that provided to other similarly situated executives of the Company. The Executive shall receive other paid time-off in accordance with the Company’s policies for executive officers as such policies may exist from time to time.

  • Vacation and Paid Time Off The Executive shall be entitled to vacation and paid time off in accordance with the standard policies of the Company for executives as in effect from time to time.

  • Vacation During the Employment Period, the Executive shall be entitled to paid vacation in accordance with the most favorable plans, policies, programs and practices of the Company and its affiliated companies as in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies.

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