Employee Releases definition
Examples of Employee Releases in a sentence
Further, prior to the Closing, Seller shall obtain releases from the Transferred Employees who elect to terminate their employment with Seller and commence new employment relation with Purchaser, to the effect that they will waive any right, if any, against Purchaser regarding any severance, unused leave and other obligations or claims arising from their employment relation with Seller before the Closing ("Employee Releases").
Seller will tender to Purchaser written evidence in a form reasonably satisfactory to Purchaser of the termination of that employment relationship with Seller and the release by the Employees of any and all claims against Seller (the "Employee Releases").
If Company does institute such a claim, it agrees to pay the reasonable costs incurred by the Employee or any of the Employee Releases in defending such action, including reasonable attorneys’ fees, experts’ fees and costs.
Prior to the Closing, the Company shall negotiate and obtain, or cause to be obtained, the Employee Releases from each Plan Participant.
Vision 21 shall satisfy any salary or fringe benefit obligations, other than PTO, accrued prior to the expiration of the Transition Period and TNG shall obtain from each of the Employees a release (collectively, the "Employee Releases") of Vision 21 from all of such liabilities and from any and all other liabilities of any kind or nature related to Vision 21's employment of the Employees.
The aggregate consideration for the Purchased Assets shall equal: (i) the Total Consideration; and (ii) the Employee Releases of Claims.
Employee and Company each agree that he and it will not knowingly encourage, counsel, or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third party against any of the Company Releasees (in the case of Employee) and any of the Employee Releases (in the case of Company), unless under a subpoena or other court order to do so or as related directly to the ADEA waiver in this Agreement.
On or prior to the Closing, Vision 21 shall satisfy any salary or fringe benefit obligations, other than PTO, accrued prior to the Employee Termination Date and the Practice shall obtain from each of the Employees a release (collectively, the "Employee Releases") of Vision 21 from all of such liabilities and from any and all other claims or liabilities of any kind or nature related to Vision 21's employment of Employee.
The obligation of the Company to make the payments to the Executive under Section 4.1 above (other than under Section 4.1(a)) is conditioned upon the Executive's signing a release of claims in the form then provided by the Company (the "Employee Release") and upon the Employee Release's becoming effective in accordance with its terms within 60 days following the Date of Termination (the "Effective Release Date").
If approached by anyone for counsel or assistance in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints against any of the Company Releasees (in the case of Employee) and any of the Employee Releases (in the case of Company), each Party shall state no more than that he cannot provide counsel or assistance.