Comparability of Benefits. Except as provided in the Employment Agreements, the Parent shall cause the Surviving Corporation to assume all employment and other related agreements with respect to any current employee of Company, which shall be performed in accordance with their terms. In addition, the obligations under each Benefit Plan as to which Company or any of its Subsidiaries has any obligation with respect to any current or former employee shall become the obligations of the Surviving Corporation at the Effective Time; provided, however, as soon as practicable, the Parent shall, or shall cause the Surviving Corporation to, provide to the Employees the same benefits which are provided to similarly situated employees of the Parent immediately prior to the Effective Time. Notwithstanding the foregoing, nothing herein shall require (A) the continuation of any particular Benefit Plan or prevent the amendment or termination thereof or (B) the Parent or the Surviving Corporation to continue or maintain any stock purchase or other equity plan related to the equity of Company or the Surviving Corporation or the Parent.
Comparability of Benefits. For one year following the Closing Date, Buyer shall, or shall cause its Affiliates to, provide compensation (including rate of annual base salary or wages and annual and long-term cash incentive opportunities) and employee benefits to each Group Employee employed by a Group Member on the Closing Date and who is not represented by a labor organization that are substantially comparable in the aggregate to the compensation and employee benefits that are in effect for such Group Employee immediately prior to the Closing Date, and for each Group Employee who is represented by a labor organization, Buyer shall and shall cause its Affiliates to comply with Section 5.8. Nothing in this Section 5.1 shall limit the right of any Group Member to terminate the employment of any employee at any time following the Closing Date.
Comparability of Benefits. (a) For a period of at least one year following the Closing Date or as otherwise required by Applicable Law or contract, Buyer shall, or shall cause the applicable Company to, provide Company Employees:
(i) salary or wage and benefits (specifically excluding bonuses and other incentive compensation) that are substantially comparable in the aggregate to those they received immediately prior to the Closing Date; and
(ii) severance benefits to Company Employees no less favorable than those provided by Seller, any of its Affiliates, any Company or any Subsidiary, as applicable to any such Company Employee, immediately prior to the Closing Date.
(b) Buyer shall provide bonus opportunities to Company Employees for the year ending December 31, 2006 that are comparable to the bonus opportunities provided to such Company Employees immediately prior to the Closing Date.
Comparability of Benefits. 33 6.5.2 Termination and Transfer/Merger of Plans..... 34 6.5.3 No Contract Created.......................... 34 SECTION 7 TERMINATION OF AGREEMENT AND ABANDONMENT OF TRANSACTION......................................... 34
Comparability of Benefits. GBCI's and Glacier Bank's personnel policies will apply to any current Employees who are retained after the Effective Time (collectively, the "Continuing Employees"). Such Continuing Employees will be eligible to participate in all of the benefit plans of GBCI and/or Glacier Bank that are generally available to similarly situated employees of GBCI and/or Glacier Bank in accordance with and subject to the terms of such plans. From the date of the Closing until the first anniversary thereof, GBCI shall use commercially reasonable efforts to, or shall use commercially reasonable efforts to cause its Affiliates to, provide to each Continuing Employee (A) monetary base and incentive compensation opportunities that are, in the aggregate, substantially similar to over the long term, those provided by AB or its Affiliates to such Continuing Employee as of immediately prior to the Closing, and (B) benefits that are, in the aggregate, no less favorable than those provided to such Continuing Employee as of immediately prior to the Closing (it being understood that GBCI's benefit plans and plan terms are different than AB's benefit plans), taken as a whole.
Comparability of Benefits. Employer shall maintain the same medical, dental, life, disability, and vision insurance for members of the union as it does for members of the other bargaining unit. A copy of the current contract provisions covering these benefits is appended to this contract.
Comparability of Benefits. 1. Employer shall maintain the same medical, dental, life, disability, and vision, insurance for members of union as it does for members of the other bargaining unit. A copy of the current contract provisions covering these benefits is appended to this contract.
2. If, in future negotiations with the other bargaining unit, NEVHC and/or other bargaining unit proposes to alter these benefits, UAPD shall be notified and invited to participate in and be party to the negotiations of the changes.
Comparability of Benefits. 44 6.5.2. Transfer or Merger of Group Plan . . . . . . . . . . . . . 44 6.5.3. No Contract Created . . . . . . . . . . . . . . . . . . . 44 SECTION 7. TERMINATION OF AGREEMENT AND ABANDONMENT OF TRANSACTION . . . . . . . . . . . . . . . . . . . . . 44 7.1. Termination by Reason of Lapse of Time . . . . . . . . . . . . . . 44 7.2. Other Grounds for Termination . . . . . . . . . . . . . . . . . . 45 7.2.1. Mutual Consent . . . . . . . . . . . . . . . . . . . . . . 45 7.2.2. Conditions of VB Not Met . . . . . . . . . . . . . . . . . 45 7.2.3. VB Fails to Recommend Stockholder Approval or Triggering Event Occurs . . . . . . . . . . . . . . . . . 45 7.2.4. Conditions of WCB or HB Not Met . . . . . . . . . . . . . 45 7.2.5. Decline in Value of WCB Stock . . . . . . . . . . . . . . 45 7.2.6. Impracticability . . . . . . . . . . . . . . . . . . . . . 47
Comparability of Benefits. 45 Section 9.04. Service........................................................45 Section 9.05. Preexisting Conditions and Deductibles.........................46 Section 9.06. US Defined Contribution Plan...................................46 Section 9.07.
Comparability of Benefits. 55 11.2 Welfare Plans..............................................56 11.3 Severance..................................................56 11.4 Service Credit.............................................56
