Continuing Personnel definition
Examples of Continuing Personnel in a sentence
Notwithstanding anything in this Agreement to the contrary, no Continuing Personnel, and no other employee or independent contractor of the Company or its Subsidiaries, shall be deemed to be a third party beneficiary of this Agreement.
Subject to the provisions of this Article, the Company may continue to utilize from time to time Non‐ Continuing Personnel as defined in 28.02 and 28.03 below.
If the Company 401(k) Plan is terminated as described herein, the Continuing Personnel shall be eligible immediately upon the Closing Date to commence participation in a Parent Qualified Plan.
Subject to the provisions of this Article, the Company may continue to utilize from time to time Non- Continuing Personnel as defined in 28.02 and 28.03 below.
Additionally, Parent agrees that each Continuing Personnel shall, during the Continuation Period, be provided with severance benefits (including the payment of transitional or notice pay) that are no less favorable than the severance benefits (including the payment of transitional or notice pay) provided by the Company and its Subsidiaries to such Continuing Personnel pursuant to the Company practices set forth in Section 7.04(a) of the Company Disclosure Schedule.
Notwithstanding the foregoing, nothing in this Section 6.8 shall guarantee any Continuing Personnel the right to continued employment or retention for any period of time.
Acquiror shall credit the Continuing Personnel that accept such offers for their past service with the Target for purposes of eligibility and vesting under the Acquiror’s 401(k), medical, vision and dental plans (except to the extent such service credit will result in benefit accruals or the duplication of benefits).
Notwithstanding the foregoing, nothing in this Section 8.7 shall guarantee any Continuing Personnel the right to continued employment or retention for any period of time.