Minimum Terms and Conditions of Employment means, with respect to an Employee (other than a Selected Employee), (a) the same or substantially similar position as such Employee’s position immediately prior to the Closing Date, (b) a work location within 50 miles of such Employee’s work location immediately prior to the Closing Date, and (c) aggregate total compensation (consisting of Cash Compensation, welfare, pension and other benefits, as applicable) which is no less favorable than the aggregate total compensation for such Employee in effect immediately prior to the Closing Date; provided, that such Employee’s Cash Compensation shall not be less than the amount of Cash Compensation in effect for such Employee immediately prior to the Closing Date; and provided, further, that references to “immediately prior to the Closing Date” in this definition shall be replaced with “immediately prior to the date the relevant leave commenced” with respect to any STD Employee.
Minimum Terms and Conditions of Employment is defined in Section 8.2(a) of this Agreement.
Minimum Terms and Conditions of Employment has the meaning set forth in Section 4.9(a).
Examples of Minimum Terms and Conditions of Employment in a sentence
As of the Hire Date and, except as otherwise provided herein, for a period of not less that twelve (12) months after the Closing Date, the employment of Transferred Employees shall be on terms and conditions no less favorable than the Minimum Terms and Conditions of Employment.
Clarify use of “business” day for Board hearing and Arbitration steps.
More Definitions of Minimum Terms and Conditions of Employment
Minimum Terms and Conditions of Employment means, with respect to an Employee (other than a Selected Employee), (a) the same or substantially similar position as such Employee’s position immediately prior to the Closing Date or a Deferred Closing Date, as applicable, (b) a work location within 50 miles of such Employee’s work location immediately prior to the Closing Date or a Deferred Closing Date, as applicable, (c) aggregate Cash Compensation which is no less than the aggregate Cash Compensation for such Employee in effect immediately prior to the Closing Date or a Deferred Closing Date, as applicable, and (d) employee benefits (but excluding any “pension benefits” as defined below) that are comparable in the aggregate to those generally made available to similarly situated Employees located in the applicable country immediately prior to the Closing Date or a Deferred Closing Date, as applicable (unless otherwise required by applicable Law); provided, that references to “immediately prior to the Closing Date or a Deferred Closing Date, as applicable” in this definition shall be replaced with “immediately prior to the date the relevant leave commenced” with respect to any STD Employee; and provided, further, that notwithstanding the exclusion of “pension benefits” from part (d) above, Purchaser is required to comply with Sections 7.1(c) and 7.1(d) of this Agreement. For purposes of this definition, “pension benefits” means only those benefits provided pursuant to a “defined benefit pension plan” within the meaning of FAS87.