Examples of Inactive Business Employee in a sentence
Each Inactive Business Employee who accepts employment with Buyer shall become a Transferred Employee on the date he or she returns to work (“Deferred Hire Date”), provided such date is on or before the Anniversary Date, and shall terminate his or her employment with Seller as of the date immediately prior to the Deferred Hire Date.
For the avoidance of doubt, other than the payment of individual allocations of the Bonus Pool Amount to eligible Transferred Business Employees in accordance with this Section 6.19, Buyer shall not have any obligation to pay any amount with respect to any 2015 bonus to any Business Employee (including any Inactive Business Employee or Management Employee).
If an Inactive Business Employee does not return to work on or before the Anniversary Date, Buyer shall have no obligation under this Employee Matters Agreement to hire such employee, and such employee shall not become a Transferred Employee.
Any Inactive Business Employee shall be treated as a Transferred Employee upon his or her Delayed Transfer Date.
The Continuing Employees and the other Business Employees who accept an employment offer from Buyer or any of its Affiliates and commence employment as of the Closing Date are referred to collectively herein as the “Transferred Employees”, and any Inactive Business Employee shall be treated as a Transferred Employee upon his or her return to, or commencement of, active employment with Buyer or its Affiliates.