Non-Retained Employee definition
Examples of Non-Retained Employee in a sentence
Buyer agrees that for a period of two (2) years following the Closing Date, it will not solicit for employment any Non-Retained Employee.
The Purchaser will provide, to the extent permissable by applicable law and contract or agreement provisions, the opportunity for any Non-Retained Employee of the Seller actively employed by the Seller at or after the Closing to participate in any Employee Plans and Benefit Arrangements.
Any severance payment, other compensation, or Loss resulting from the termination upon or after the Closing Date of the employment of any Employee not designated by Buyer as a Non-Retained Employee in accordance with the requirements of this Section 6.5(a) (each such Employee a “Retained Employee”) shall be the responsibility and liability of Buyer.
Seller shall remain liable for all obligations to every Non-Retained Employee.
Evidence that the Company has terminated the employment of ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ and ▇▇▇▇▇ ▇▇▇▇▇▇ (the “Non-Retained Employees”) effective as of or prior to the Closing, in form and substance reasonably satisfactory to Parent (including receipt of a release of claims by each Non-Retained Employee).
Subject to Section 7.4(a), Buyer shall establish or extend such employee benefit plans and programs with respect to Pueblo Non-Retained Employees and West Cald▇▇▇▇ ▇▇▇-Retained Employees hired by Buyer as it may deem appropriate, but shall credit service with respect to eligibility and vesting purposes under any such plan for employment of such a Pueblo Non-Retained Employee or West Cald▇▇▇▇ ▇▇▇-Retained Employee, as the case may be, with Seller.
By August 31, 2000, Buyer will designated each Contract Employee as either a Retained Employee or Non-Retained Employee.
As of the Closing Date, Buyer shall offer employment to each Pueblo Non-Retained Employee and shall hold such offers open for no less than 5 business days after such offers are made.
In the event Buyer establishes or extends a tax-qualified defined contribution plan with a 401(k) feature to any Pueblo Non-Retained Employee or any West Cald▇▇▇▇ ▇▇▇-Retained Employee, Buyer shall allow eligible rollover distributions from the W.S. ▇▇▇▇▇ ▇▇▇orporated Profit Sharing and Savings Plan with respect to such Pueblo Non-Retained Employee and such West Cald▇▇▇▇ ▇▇▇-Retained Employee.
If Buyer fails by August 31, 2000 to designated any Contract Employee as either a Retained Employee or Non-Retained Employee, then such Contract Employee shall be deemed a Non-Retained Employee.