Published on 26 Jul 2016 • USA (National/Federal) |
"Section 7.5(b)(i): Continuation of Employment. Where applicable Law does not provide for the transfer of employment of any Employee ... Buyer shall ... make offers of at-will ... employment ... to be effective as of the Closing ... to all such Employees.
Section 7.5(d): Continuation of Compensation and Benefits. For a period of eighteen (18) months after the Closing Date … Buyer shall … provide to each Transferred Employee (i) a base salary or wages no less favorable than those provided immediately prior to the Closing Date and (ii) other employee benefits, variable pay, incentive or bonus opportunities under plans, programs, and arrangements that are substantially comparable in the aggregate to those provided by Ashland … as expected to be in effect as of on January 1, 2011 …
Section 11.7: Public Disclosure. No communication, release, or announcement to the public or to employees … shall be issued or made by any party without the prior consent of the other party … ; provided, however, that each of the parties may make internal announcements to their respective employees that are consistent with the parties’ prior public disclosures concerning the Contemplated Transactions …"