Examples of New SAIC Group in a sentence
For the avoidance of doubt, the New SAIC Group Employees who participated in the Leidos ESPP prior to the Effective Time shall continue to participate in any offering periods under the Leidos ESPP ending prior to the Effective Time.
To the extent that any such special provisions, rules or procedures are adopted or implemented with respect to any such Delayed Transfer Individual, such officer shall use best efforts to treat each such Delayed Transfer Individual in the same manner as if such Delayed Transfer Individual transferred employment or service to the New SAIC Group as of the Effective Time.
After the Effective Time, (i) Leidos shall be responsible for providing any necessary WARN notice (and meeting any similar state Law notice requirements) with respect to any termination of employment of any Leidos Group Employee and (ii) New SAIC shall be responsible for providing any necessary WARN notice (and meeting any similar state Law notice requirements) with respect to any termination of employment of any New SAIC Group Employee.
As of the Effective Time, the New SAIC Group Employees and New SAIC Directors shall no longer participate in the Leidos Deferred Compensation Plans.
Leidos shall have sole responsibility for the administration of the Leidos Excess Deferral Plan and the payment of benefits thereunder to or on behalf of Leidos Group Employees and Former Leidos Group Employees, and no member of the New SAIC Group shall have any liability or responsibility therefor.
Each of Leidos and New SAIC shall cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any member of the Leidos Group and any member of the New SAIC Group, respectively.
New SAIC shall also be permitted to retain copies of all restrictive covenant agreements with any Leidos Group Employee or Former Leidos Group Employee in which any member of the New SAIC Group has a valid business interest.
The Parties acknowledge and agree that the Distribution and the assignment, transfer or continuation of the employment of Employees as contemplated by this Section 3.1 shall not be deemed a severance of employment of any Employee for purposes of this Agreement or any Benefit Plan of any member of the Leidos Group or any member of the New SAIC Group.
On and after the Distribution Date, New SAIC (acting directly or through a member of the New SAIC Group) shall be responsible for providing all collateral required by insurance carriers in connection with workers’ compensation claims for which Liability is allocated to the New SAIC Group under this Article VIII.
Leidos shall have no Liability or obligation under any Leidos severance plan or policy with respect to New SAIC Group Employees who did not have a termination event prior to the Effective Time giving rise to severance.