Common use of Comparable Terms Clause in Contracts

Comparable Terms. Effective as of the Close of the Distribution Date, WhiteWave shall adopt or shall cause to be adopted for the benefit of eligible WhiteWave Employees, health and welfare plans, including, but not limited to, plans providing (i) executive long-term disability insurance and (ii) health, dental and life insurance benefits (the “WhiteWave Welfare Plans”) that are substantially the same as the benefits provided under the corresponding Xxxx Foods Welfare Plan in which such individuals were participating immediately prior to the Distribution Date. Notwithstanding the immediately preceding sentence, WhiteWave may alter the terms and conditions of the WhiteWave Welfare Benefit Plans relative to the terms and conditions of the Xxxx Foods Welfare Benefit Plans to the extent that WhiteWave reasonably determines in good faith that it can not provide substantially the same benefits at a commercially reasonable cost because (i) the number of persons who will be participants in the WhiteWave Welfare Plans is significantly smaller than the number of participants in the Xxxx Foods Welfare Plans immediately prior to the Distribution Date, (ii) the WhiteWave Welfare Plan will be funded through an insured arrangement, while the corresponding Xxxx Foods Welfare Plan was funded under a self-insured arrangement or (iii) of the inability of the WhiteWave Benefit Plans to procure on commercially reasonable terms contracts with the same third party vendors who assisted in administering the Xxxx Foods Welfare Plans. For purposes of the immediately preceding sentence, an amount up to or equal to 105% of the costs incurred by Xxxx Foods in respect of the Xxxx Foods Welfare Plans, as determined on a per capita basis, immediately prior to the Distribution Date shall be deemed to be commercially reasonable. In addition, WhiteWave shall retain the right to modify, amend, alter or terminate the terms of any WhiteWave Welfare Plan to the same extent that Xxxx Foods or another member of the Xxxx Foods Group had such rights under the corresponding Xxxx Foods Welfare Plan.

Appears in 4 contracts

Samples: Employee Matters Agreement (Dean Foods Co), Employee Matters Agreement (WHITEWAVE FOODS Co), Employee Matters Agreement (WHITEWAVE FOODS Co)

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Comparable Terms. Effective as of the Close completion of the Distribution DateBusiness Separation, WhiteWave TruGreen shall adopt or shall cause to be adopted for the benefit of eligible WhiteWave TruGreen Employees, health and welfare plans, including, but not limited to, plans providing (i) executive long-term disability insurance and (ii) health, dental and life insurance benefits (the “WhiteWave TruGreen Welfare Plans”) that are substantially the same as the benefits provided under the corresponding Xxxx Foods ServiceMaster Welfare Plan in which such individuals were participating immediately prior to the Distribution Datecompletion of the Business Separation. Notwithstanding the immediately preceding sentence, WhiteWave TruGreen or its Subsidiaries may alter the terms and conditions of the WhiteWave TruGreen Welfare Benefit Plans relative to the terms and conditions of the Xxxx Foods ServiceMaster Welfare Benefit Plans to the extent that WhiteWave TruGreen or its Subsidiaries reasonably determines in good faith that it can not provide substantially the same benefits at a commercially reasonable cost because (i) the number of persons who will be participants in the WhiteWave TruGreen Welfare Plans is significantly smaller than the number of participants in the Xxxx Foods ServiceMaster Welfare Plans immediately prior to the Distribution Datecompletion of the Business Separation, (ii) the WhiteWave TruGreen Welfare Plan will be funded through an insured arrangement, while the corresponding Xxxx Foods ServiceMaster Welfare Plan was funded under a self-insured arrangement or (iii) of the inability of the WhiteWave TruGreen Benefit Plans to procure on commercially reasonable terms contracts with the same third party vendors who assisted in administering the Xxxx Foods ServiceMaster Welfare Plans. For purposes of the immediately preceding sentence, an amount up to or equal to 105% of the costs incurred by Xxxx Foods TruGreen or its Subsidiaries in respect of the Xxxx Foods TruGreen Welfare Plans, as determined on a per capita basis, immediately prior to the Distribution Date completion of the Business Separation shall be deemed to be commercially reasonable. In addition, WhiteWave TruGreen and its Subsidiaries shall retain the right to modify, amend, alter or terminate the terms of any WhiteWave TruGreen Welfare Plan to the same extent that Xxxx Foods or another member of the Xxxx Foods SVM Group had such rights under the corresponding Xxxx Foods ServiceMaster Welfare Plan.

Appears in 2 contracts

Samples: Employee Matters Agreement (Servicemaster Co, LLC), Employee Matters Agreement

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