Acquired Employees definition

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

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

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 means Employees who become Employees as a result of a transaction under Code Section 410(b)(6)(C). 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 Code Section 410(b)(6)(C) is an asset or stock acquisition, merger or similar transaction involving a change in the employer of the Employees of a trade or business.

Examples of Acquired Employees in a sentence

Except as may otherwise be required by law, effective as of the Closing Date, Buyer shall assume Seller’s liability for all accrued, but unpaid vacation time of Acquired Employees to the extent such liability is not already a liability of an Acquired Company.
Seller shall cause all Acquired Employees to be 100% vested in their benefits under such Seller Savings Plans effective as of the Closing Date.
Buyer shall provide or cause to be provided any COBRA coverage with respect to any Business Employees and their covered beneficiaries who are entitled to COBRA coverage with respect to “qualifying events” that are incurred (i) on or prior to the Closing Date and in connection with the transaction contemplated hereby or (ii) after the Closing Date under any group health plan of Buyer or the Acquired Companies in which Acquired Employees participate.
All Acquired Employees shall be employed solely on an “at will” basis, except to the extent required by the provisions of written employment contracts or as required by applicable law.
Acquired Employees shall continue after the Effective Time to participate in such assumed Plans.

More Definitions of Acquired Employees

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.

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 has the meaning set forth in Section 8.1.

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 has the meaning set forth in Section 10.4(a).

Acquired Employees has the meaning set forth in Section 5(a)(i).