Critical Employees definition
Examples of Critical Employees in a sentence
Critical Employees in these functional areas will be expected to report to work during emergency periods in accordance with their unit’s specific designation.
The Parties acknowledge that it is a condition of this transaction that at least 50% of the Employees and all of the Critical Employees become employees of Buyer.
At least 50% of the Employees and all Critical Employees shall have accepted employment with Buyer.
Each Company shall cooperate with Parent to affect the transfer of the Critical Employees as provided above, including but not limited to using all reasonable efforts to retain existing employees of such Company and its Subsidiaries through the Effective Time, subject to compliance with the covenants of each Company hereunder and except that each Company shall have no obligation to take any action which would breach any representation and warranty of such Company hereunder.
None of the Critical Employees shall have ceased to be employed by, or expressed an intention to terminate their employment with, the Company, expressed an intention not to accept employment with Parent or the Surviving Corporation or repudiated their Critical Employee Retention Agreement.
In the event that any of the Critical Employees terminate their employment with the Seller prior to the Closing or during that portion of the transition period in which such Critical Employees have significant remaining transition related functions, the Buyer and Seller will use reasonable commercial efforts to seek to implement a mutually agreed alternative solution for the fulfillment of such functions.
With the exception of the Key Employees and Critical Employees, none of Acquirer, the Company, the Surviving Corporation, the Surviving Entity or any of their respective Affiliates shall have any obligation to make an offer of continued employment or engagement to any Company Employee or Company Contractor.
For the avoidance of doubt, if 90% of the final number of Critical Employees as agreed by Acquirer and the Company results in a fraction, the number of Critical Employees required to sign shall be rounded down to the nearest whole number.
To the knowledge of each Company, none of the Critical Employees of such Company or any of its Subsidiaries have given notice to such Company or such Subsidiary of an intention to terminate his or her employment or relationship with such Company or such Subsidiary.
Each Company, prior to the Closing, and each Surviving Corporation, immediately after the Effective Time and for such period of time as such Surviving Corporation determines in its sole discretion, shall continue the at-will employment or other arrangement of the Critical Employees of each Company and its Subsidiaries at the Effective Time.