POC Employees definition

POC Employees means those persons employed by the POC Companies (or employed by Schlumberger Global Resources Limited and performing services for the POC Companies) on the POC Closing Date, including employees not actively at work by reason of layoff, sick leave, absence, vacation, disability or other approved leave of absence, except for (i) the four key employees retained by Seller and (ii) any person receiving long-term disability benefits.

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POC Employees means those persons employed by the POC Companies (or employed by Schlumberger Global Resources Limited and performing services for

Examples of POC Employees in a sentence

• As of the Closing Date, all POC Employees will be fully vested in their accrued benefit under the STC Pension Plan.

• Any POC Companies Plan which covers only POC Employees or Former POC Employees (or any of them) is indicated on Schedule 2.16 and is referred to herein as a "Subsidiary Plan".

• Purchaser agrees that POC Employees will receive the benefit of any vacation accrued under the applicable Schlumberger vacation policy as of the Closing Date, either through a cash-out of such accrual or through actual paid time off.

• Seller shall pay to POC Employees participating in the Schlumberger Performance Incentive Plan, Target Variable Incentive Plan and the Target Variable Compensation Plan bonuses based on performance as of the Closing Date, and Purchaser shall have no liability for any bonuses pursuant to such plans.