Examples of Employee Sellers in a sentence
To the extent requested by a Transferred Employee, Sellers shall cause to be transferred to Buyer's 401(k) Plan, in cash and in kind, all of the individual account balances of Transferred Employees under the Sellers' Plan, including any outstanding plan participant loan receivables allocated to such accounts.
On the date which is the later of March 31, 1999 or 3 months from the Effective Date of Employment for a Transferred Employee, Sellers shall provide to Purchaser a schedule containing compensation and other relevant data required to determine for purposes of calculating pension benefits under Purchaser's Defined Benefit Plan.
Validus undertakes to the Employee Sellers to comply with the terms set out in Annex A of its offer letter dated 18 April 2007 in respect of the issue of US$15,000,000.00 of Validus Common Shares to Employees in accordance with the terms of that Annex A (subject to such amendments as may be agreed between Validus and the Employee Sellers) (the "SHARE AWARDS").
With respect to any Employee who does not become a Transferred Employee, Sellers shall be responsible for providing such Employee with any benefits to which such Employee shall become entitled under the Sellers' Employee Transition Plan, as well as any other termination or severance benefits to which such Employee may be entitled.
In the event that Buyer exercises its Right of Offset against any Earnout Consideration in satisfaction of any indemnification claim against the non-Key Employee Sellers, the non-Key Employee Sellers and the Key Employees hereby agree that the non-Key Employee Sellers shall proportionately indemnify and reimburse the Key Employees to the extent that Buyer’s claims against each such non-Key Employee Seller have been set off against Earnout Consideration.