IPC Employees definition
Examples of IPC Employees in a sentence
Expenses and benefits with respect to claims incurred by IPC Employees or their covered dependents on or after the Closing Date shall be the responsibility of the Buyer.
No representation question exists or has been raised respecting any of the IPC Employees within the past eighteen months, nor to the knowledge of the Sellers are there any campaigns being conducted to solicit cards from IPC employees to authorize representation by any labor organization.
Except as otherwise set forth herein, effective as of the Closing Date, IPC Employees shall cease participation in all plans, programs, policies and arrangements maintained for their benefit by the Sellers or any of their Affiliates (other than those maintained by the IPC Entities).
The Parties agree to cooperate in good faith to ensure that all human resources-related data relating to IPC Employees that is maintained by the GCT Group is transferred to the IPC Group.
In addition, in the event that balances remain in any IPC Employee's flexible spending account as provided under the Global Crossing Flexibility Plan at the end of the period during which the GCT Group provides the benefits set forth in Section 5.2(b), the GCT Group shall transfer any such account balances to the IPC Group, and the IPC Group shall continue to permit the IPC Employees to utilize such flexible spending accounts.
The applicable Seller shall be responsible for all legally mandated continuation of health care coverage for any former IPC Employees and their covered dependents who participated in a plan maintained by such Seller and who had or have a loss of health care coverage due to a qualifying event (as defined under the Applicable Law) occurring prior to the Closing Date.
Notwithstanding anything set ---------------- forth in this Section 7.10 to the contrary, the IPC Employees set forth on Schedule 7.10(l) (the "Leased Employees") shall, ---------------- as of the Closing Date, continue to be employed by the entity that, immediately prior to the Closing, employs such Leased Employee, shall remain on such entity's payroll and shall continue to participate in the benefit plans in which they participate immediately prior to the Closing.
In the event all participation by IPC Employees in the corporate credit card program arranged by the GCT Group is not terminated as of the Closing Date, the IPC Group agrees that it shall pay any balances due with respect to such corporate credit card accounts of IPC Employees.
During the six (6) month period following the Closing Date, the Buyer shall, or shall cause the IPC Entities (or any successor thereof) to, provide IPC Employees and former IPC Employees with compensation (including base pay, cash compensation opportunity and severance, but excluding all equity related compensation) and benefits (to the extent provided in the Network and Transition Services Agreement) that are comparable, in the aggregate, to those currently provided to such employees.