Terms For Employment

• Category: Corporations - Public - Employees
• State: Multi-State
• Control #: US-EG-9309
• Format: Word; Rich Text

Description

The Employee Matters Agreement outlines the terms for the transfer of employees and their benefits as part of the reorganization involving Motorola, SCG Holding Corporation, and Semiconductor Components Industries, LLC. This form defines key employment terms, including the process for transferring employees and maintaining their employment conditions, which must align with applicable laws. It highlights the responsibilities of the parties in ensuring that Transferred Employees retain similar salary and benefits for at least one year after the transfer. Key features include provisions for the maintenance of employment records, compliance with employment tax regulations, and the handling of inactive employee statuses. The document includes specific filling instructions regarding the schedules that define employee categories, as well as conditions precedent to the transfers of employees and benefit assets. Target users, including attorneys, partners, and legal assistants, will find this agreement essential in addressing employment matters during corporate reorganizations, ensuring compliance with labor laws, and managing employee benefit plans effectively. Comprehensive understanding of these terms will assist in navigating the complexities of transferred employment relationships and responsibilities.