Acquired Employees definition

Acquired Employees means employees who become employees as a result of a transaction under Section 410(b)(6)(C) of the Code. Such Employees will be excluded during the period beginning on the date of the transaction and ending on the last day of the first Plan year beginning after the date of the transaction. A transaction under Section 410(b)(6)(C) of the Code is an asset or stock acquisition, merger or similar transaction involving a change in the employer of the employees of a trade or business.

Acquired Employees shall have the meaning set forth in Section 7.5(a).

Acquired Employees means all those individuals who are employees of the Division or the Division Subsidiaries and who accept Buyer’s offer of employment, effective as of the Closing Date.

Examples of Acquired Employees in a sentence

• The agreements between Buyer and the Acquired Employees containing an offer of employment are conditional on (i) the successful completion of Buyer’s background check and other pre-hire requirements (including execution of Buyer’s customary confidentiality and non-solicitation agreement), and (ii) the written termination of any applicable employment agreements and/or restrictive covenants between the applicable Acquired Employee and Seller or its Affiliates (the “Prior Employment Arrangements”).

• From and after the Second Closing, Buyer shall pay, discharge and be responsible for all salary, wages and benefits and any other compensation arising out of or relating to the employment or engagement of the Acquired Employees by Buyer from and after the Second Closing Date, including all claims incurred by participating Employees under Xxxxx’s welfare benefits plans on or after the Second Closing Date.

• Except as provided herein, Seller shall pay, discharge and be responsible for: (i) all salary and wages or other compensation arising out of employment or engagement of the Employees and Acquired Employees through the Second Closing; and (ii) any employee benefits (including vacation, sick and personal days accrued but unused) arising under Seller’s employee benefit plans and employee programs at any time (all of which shall be Excluded Liabilities hereunder).

More Definitions of Acquired Employees

Acquired Employees means those employees or independent contractors of the Company and its Subsidiaries immediately prior to the Effective Time who are identified as such in Section 3.17(a) of the Company Disclosure Schedule.

Acquired Employees shall have the meaning set forth in Section 10.02(a).

Acquired Employees has the meaning set forth in Section 4.10(a).

Acquired Employees means those individuals who are employed by the Company immediately prior to the Closing Date.

Acquired Employees shall have the meaning given such term in Section 5.05(a).

Acquired Employees has the meaning set forth in Section 5.7(a).

Acquired Employees all the employees of the Seller engaged in the Opsys UK Business whose names are set out in Part One of annexure A and “Acquired Employee” means any of them;