Sponsored Employee definition
Examples of Sponsored Employee in a sentence
Citrix agrees to promptly pay all costs and expenses related to the obtainment of work authorization of such Sponsored Employee (as well as any spouse or dependent thereof, as applicable) that are incurred in connection with the Internal Reorganization.
With respect to U.S. Leave Employees, Sponsored Employees and Canadian Employees, all references to the “Initial Closing” or “Initial Closing Date” in this Agreement, except in this Section 6.1(a), the first sentence of Section 6.1(b), Section 6.1(g) and Section 6.1(k), shall refer to the date on which a U.S. Leave Employee, a Sponsored Employee or a Canadian Employee becomes a Transferred U.S. Employee or a Transferred Canadian Employee, respectively.
Effective as of the Initial Closing, the Company’s or applicable Asset Seller’s employment of each U.S. Employee other than a U.S. Leave Employee or Sponsored Employee, shall cease and, except with respect to a Contract for employment that is an Assumed Plan, the Buyer will not assume any Contracts for employment of any U.S. Employee.
Effective as of the Closing, the Employees shall cease to participate in those Employee Benefit Plans sponsored by the Seller, including those listed in Schedule 8.1(c) (the “Seller Sponsored Employee Benefit Plans”).
The applicable Asset Seller shall terminate the employment of the Sponsored Employee immediately prior to the date on which the Buyer or its Affiliate will become the sponsor.
Each Company Sponsored Employee Plan, other than a Company Sponsored Employee Plan described in Subsection (a)(ii) or (v) above, can be amended, terminated or otherwise discontinued after the Effective Time in accordance with its terms, without liability to Acquiror (other than ordinary administrative expenses typically incurred in a termination event).
Any Company Employee Plan that is not a PEO Benefit Plan is referred to in this Agreement as a “Company Sponsored Employee Plan”.
Effective as of the Closing Date, neither Purchaser nor the Companies shall have any liability with respect to the Seller Sponsored Employee Benefit Plans.
Notwithstanding the foregoing, following the Closing, Buyer’s and the Company’s obligations pursuant to this Section 4.12 shall terminate with respect to any Sponsored Employee on the date of such Sponsored Employee’s termination of employment with Buyer or any of its Subsidiaries (as applicable), unless otherwise agreed to by the Sponsored Employee or as otherwise required pursuant to U.S. immigration Laws.
With respect to each Sponsored Employee Benefit Plan, the Seller has provided or made available to the Purchaser a current, accurate and complete copy thereof and, to the extent applicable, the most recent determination letter, and any summary plan description and other written communications (or a description of any oral communications) by the Seller or the Companies to the Employees concerning the extent of the benefits provided under a Sponsored Employee Benefit Plan.