Active Employees definition
Examples of Active Employees in a sentence
Nothing in this Agreement shall be deemed to prevent or restrict in any way the right of Buyer to terminate, reassign, promote or demote any of the Hired Active Employees after the Closing or to change adversely or favorably the title, powers, duties, responsibilities, functions, locations, salaries, other compensation or terms or conditions of employment of such employees.
Buyer will set its own initial terms and conditions of employment for the Hired Active Employees and others it may hire, including work rules, benefits and salary and wage structure, all as permitted by law.
Buyer shall pay, perform or otherwise satisfy all Liabilities relating to Hired Active Employees' employment with Buyer arising on or after 8:00 a.m. (EST) on their first day of work for Buyer pursuant to the terms of their offer by ▇▇▇▇▇ and any related Assumed Liabilities.
All Hired Active Employees who are participants in Seller’s retirement plans shall retain their accrued benefits under ▇▇▇▇▇▇’s retirement plans as of the Buyer’s hiring date, and Seller (or Seller’s retirement plans) shall retain sole liability for the payment of such benefits as and when such Hired Active Employees become eligible therefor under such plans.
All Hired Active Employees shall become fully vested in their accrued benefits under ▇▇▇▇▇▇’s retirement plans as of the Closing Date, and Seller will so amend such plans if necessary to achieve this result.