Common use of Assignment and Transfer of Employees Clause in Contracts

Assignment and Transfer of Employees. Effective as of no later than the Distribution Effective Time, the applicable member of the Parent Group shall have taken such actions as are necessary to ensure that (i) each SpinCo Employee is employed by SpinCo as of immediately prior to the Distribution and (ii) each Employee not covered by Section 7.02(a)(i) is employed by a member of the Parent Group as of immediately prior to the Distribution. Each of the Parties agrees to execute, and to seek to have the applicable Employees execute, such documentation, if any, as may be necessary to reflect such assignment and/or transfer.

Assignment and Transfer of Employees. Effective as of no later than the Distribution Effective TimeTime and except as otherwise agreed to by the Parties, the applicable member of the Parent Group (i) SpinCo shall have taken such actions as are necessary to ensure that (i) each individual who is a SpinCo Entities Employee is employed by a SpinCo as of immediately prior to the Distribution Entity and (ii) Parent shall have taken such actions as are necessary to ensure that each individual who is a Parent Entities Employee not covered by Section 7.02(a)(i) is employed by a member of the Parent Group as of immediately prior to the DistributionEntity. Each of the Parties agrees to execute, and to seek to have the applicable Employees execute, such documentation, if any, as may be necessary to reflect such assignment and/or transfer.