WD Employee definition

WD Employee will also include those headquarter staff employees of ITT whose names are set forth on the "Employee Benefits Matters Schedule" attached hereto and who are offered and accept employment with the Company or any of its Subsidiaries prior to the Closing Date. No such headquarter employee shall be offered employment with the Company or any of its Subsidiaries without the prior consent of VNU. At least 15 days prior to the Closing Date, VNU shall provide to ITT a list of those headquarter employees who will be offered employment with the Surviving Corporation or one of its Subsidiaries on the Closing Date.
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WD Employee means an individual who is employed (including an individual who is not actively employed due to an approved disability, lay-off with right of recall or an authorized leave of absence (or who is receiving salary continuation severance payments)) by the Company or any of its Subsidiaries immediately prior to the Closing Date. The term "WD Employee" will also include those headquarter staff employees of ITT whose names are set forth on the "Employee Benefits Matters Schedule" attached hereto and who are offered and accept employment with the Company or any of its Subsidiaries prior to the Closing Date. No such headquarter employee shall be offered employment with the Company or any of its Subsidiaries without the prior consent of VNU. At least 15 days prior to the Closing Date, VNU shall provide to ITT a list of those headquarter employees who will be offered employment with the Surviving Corporation or one of its Subsidiaries on the Closing Date.
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Examples of WD Employee in a sentence

  • VNU, the Company and its Subsidiaries shall indemnify Starwood, ITT and its subsidiaries from and against any and all obligations incurred with respect to any WD Employee for any retiree welfare benefit obligations which arise on or after the Closing Date.

  • Except as otherwise provided herein, nothing herein shall prevent the Company or its Subsidiaries from modifying the WD Employees' terms and conditions of employment or establishing new terms and conditions of employment to the extent such actions are permitted by local law and the provisions of such agreements, and nothing contained in this Section shall confer on any WD Employee any right to continued employment, whether before or after the Closing Date.

  • Without limiting the generality of the foregoing, for not less than one year following the Closing Date, the Company and its Subsidiaries shall provide severance plans, programs, policies, agreements and arrangements to each WD Employee that are no less favorable than those in effect as of November 12, 1997.