CESSATION OF EMPLOYEE BENEFITS. During the period of an employee’s absence, or layoff, and notwithstanding that seniority may accrue during such period, the Company shall not be obligated to pay for, or allow “Paid” holidays (except as permitted by Article 8.4) or annual vacations. Similarly, the Company shall not be obligated to maintain employee benefits, other than as specified in Article 12.9.
CESSATION OF EMPLOYEE BENEFITS. Except as otherwise required by law or by the express terms of the plan in which Employee participates, Employee shall cease to be entitled to any further employee benefits or perquisites from the Company effective as of the Termination Date, and Employee shall, as of such Termination Date, cease participation in all employee plans of the Company, including (without limitation): (i) participation in the Company’s 1998 Employee Stock Purchase Plan, as amended and restated, (ii) eligibility for participant contributions or Company-matching contributions under the Company’s 401(k) plan and (iii) participation in the Company’s group health care, life insurance and disability insurance plans, except for any post-employment coverage under the Company’s group health care plan to which he is entitled pursuant to his statutory COBRA coverage rights and post-employment coverage pursuant to the applicable portability, conversion, or other post-employment coverage rights under the Company’s various insurance programs, provided that all such post-employment coverage shall be at Employee’s expense (except for the Lump Sum Health Care Payment described in Section 5.C of this Agreement). In addition, Employee shall not accrue any other benefits, including (without limitation) vacation, flexible spending, leave entitlement, severance or other compensation after the Termination Date. However, Employee shall be entitled to receive the full value of any benefits accrued under the Company’s employee benefit plans through the Termination Date and to the additional benefits provided pursuant to the express terms of this Agreement following the Termination Date.
