Compensation; Employee Benefits. Except as otherwise provided in this Section 9.5 or as otherwise required by applicable law, the Business Employees shall cease to participate in or accrue further benefits under the Business Benefit Plans immediately prior to the Closing Date. Beginning on the Closing Date, Buyer shall, for the period ending twelve (12) months after the Closing Date, provide each New Buyer Employee with total cash compensation (including base salary and bonus opportunity) that is no less favorable in the aggregate than such New Buyer Employee’s total cash compensation immediately prior to the Closing Date. Beginning on the Closing Date, Buyer shall also, for the period ending twelve (12) months after the Closing Date, maintain (or cause its subsidiaries to maintain) employee benefit plans, agreements and arrangements and customary programs and policies for the benefit of each New Buyer Employee that are no less favorable in the aggregate than the Business Benefit Plans in effect immediately prior to the Closing Date with respect to employees of Buyer ( “Buyer Plans”) notwithstanding a longer validity term of certain policies such as the Sociaal Plan vor het personeel van Argus Imaging B.V. te Heerlen of 2014 that remains in effect until its expiry. Notwithstanding anything to the contrary in this Agreement, beginning on the Closing Date, Buyer shall, for the period ending twelve (12) months after the Closing Date, maintain (or cause its subsidiaries to maintain) a severance pay plan, program or practice for the benefit of each New Buyer Employee that is no less favorable than the plan, program or practice in effect immediately prior to the Closing Date with respect to such New Buyer Employee. All Buyer Plans and Buyer severance pay plans, programs or practices shall recognize all credited service of New Buyer Employees with PKI and its subsidiaries for purposes of eligibility and vesting and level of benefits to the same extent such service was recognized under similar plans maintained by PKI or its subsidiaries immediately prior to the Closing Date, provided that the foregoing shall not apply to the extent it would result in a duplication of benefits for the same period of service.
Compensation; Employee Benefits. The Company shall not (i) enter into any new, or amend any existing, employment, severance, consulting or salary continuation agreement with or for the benefit of any former, present or future officer, director or employee of the Company or any of its Subsidiaries, (ii) grant any increase in the compensation, bonuses or benefits to any former, present or future officer, director or employee of the Company or any of its Subsidiaries (other than normal compensation increases to persons who are not non-employee directors in the ordinary course of business consistent with past practices), (iii) make any increase in or commitment to increase any employee benefits, (iv) adopt or make any commitment to adopt any additional employee benefit plan or (v) make any contribution, other than regularly scheduled contributions, to any Company Benefit Plan; except (A) in each case, as required by this Agreement (including as required by Section 7.16(c)(i)) and (B) in the case of clauses (iii) through (v), in the ordinary course of business consistent with past practice or as required by an existing agreement or Company Benefit Plan made available to Parent.
Compensation; Employee Benefits. Except as otherwise required by applicable Law, the Business Employees shall cease to participate in or accrue further benefits under the Business Benefit Plans immediately prior to the Closing. Beginning on the Closing Date and for a twelve (12) month period thereafter, Buyer shall maintain (or cause its affiliates to maintain) employee benefit plans, agreements, programs, policies and arrangements for the benefit of each New Buyer Employee (“Buyer Plans”) on terms that are no less favorable than those set forth in Section 9.3(a). Buyer shall use commercially reasonable efforts to cause:
Compensation; Employee Benefits. Except as otherwise required by applicable Law, the New Buyer Employees shall cease to participate in or accrue further benefits under the Business Benefit Plans immediately prior to the Closing Date. Except as otherwise provided in this Agreement, beginning on the Closing Date, with respect to New Buyer Employees who are employed in the United States, Buyer shall, for the period ending twelve (12) months after the Closing Date, provide each such New Buyer Employee with total cash compensation (including base salary and bonus opportunity) that is commensurate with the total annual cash compensation available to the New Buyer Employees immediately prior to the Closing Date (excluding sale or retention bonuses). Buyer shall cause any employee benefit plans of Buyer that cover New Buyer Employees after the Closing Date to credit service of the New Buyer Employees to the Business for purposes of eligibility and vesting under the employee benefit plans. With respect to all other New Buyer Employees, Buyer’s offers of employment shall be on such terms and conditions as are required by and compliant with applicable Law so as not to trigger any severance or other payments under any transfer of undertakings, acquired rights directive, or any similar Law.
Compensation; Employee Benefits. Employer shall pay Employee for Employee's services hereunder a salary at the rate of not less than $300,000 per annum. Employee shall also be entitled to participate in a bonus participation plan, stock option program, and other fringe benefits available to other employees of NS Group or any of its subsidiaries who are similarly situated in terms of (i) position with NS Group or any of its subsidiaries, (ii) seniority and (iii) geographical location of employment. Employee's participation in such plans, benefits and programs shall be subject to the rules, regulations and amendments pertaining to eligibility and participation therein. In addition, Employee shall be eligible to receive vacation as follows: Length of Service Vacation Entitlement Six months, but less than 1 year 1 week One year, but less than 15 years 3 weeks
Compensation; Employee Benefits. Effective as of the Closing Date, Buyer shall assume all of the Business Plans other than any employee stock purchase plan. Starting immediately following the Closing, Buyer shall, for a period ending on the date twelve (12) months after the Closing Date, provide each Transferred Employee with total cash compensation (including base salary and bonus opportunity at least equal to those in effect on the date hereof) that is no less favorable in the aggregate to such Transferred Employee's total cash compensation immediately prior to the Closing Date. Starting on the Closing Date, Buyer shall also, for a period ending on the date twelve (12) months after the Closing Date, maintain (or cause its subsidiaries to maintain) employee benefit plans, agreements, programs, policies and arrangements for the benefit of each Transferred Employee that are no less favorable in the aggregate than the Employee Benefit Plans in effect immediately prior to the Closing Date with respect to employees of Buyer ("BUYER PLANS"); provided, however, Buyer shall not be required to maintain an employee stock purchase plan for the benefit of the Transferred Employees. Notwithstanding anything to the contrary in this Agreement, starting on the Closing Date, Buyer shall, for a period ending on the date twelve (12) months after the Closing Date, maintain (or cause its subsidiaries to maintain) a severance pay plan, program or practice for the benefit of each Transferred Employee that is no less favorable than the plan, program or practice in effect immediately prior to the Closing Date with respect to such Transferred Employee.
Compensation; Employee Benefits. Offers to Business Employees for employment other than on a transitional basis shall be on terms and conditions comparable to similarly situated employees of the Buyer. Upon commencement of employment with the Buyer, the Buyer shall take all actions as are necessary to allow the New Business Employees to participate in the benefit programs of the Buyer to the same extent as similarly situated employees of Buyer as soon as practicable after the Closing Date.
Compensation; Employee Benefits. Except as disclosed in the Company Reports or as otherwise disclosed in Section 3.7 of the Disclosure Schedule, there are no (i) material employment, severance, consulting or other compensation agreements between the Company or any of its subsidiaries and any officer, director or employee of the Company or any of its subsidiaries, or (ii) bonus, profit-sharing, severance, termination, stock option, pension, retirement, deferred or contingent compensation or other employee benefit agreements, trusts, plans or other arrangements for the benefit of any director, officer or employee of the Company or any of its subsidiaries.
Compensation; Employee Benefits. Employer shall pay Employee for Employee's services hereunder a salary at the rate of not less than $250,000 per annum. Employee shall also be entitled to participate in a bonus plan, stock option program, and other fringe benefits available to other employees of Employer who are similarly situated in terms of (i) position with Employer or any of its subsidiaries, (ii) seniority and (iii) geographical location of employment. Employer shall also reimburse Employee for up to $10,000 for the reasonable professional fees (including attorneys fees) incurred by the Employee in connection with the negotiation and execution of this Agreement and the employment relationship between the parties. Employee's participation in the plans, benefits and programs of Employer shall be subject to the rules, regulations and amendments pertaining to eligibility and participation therein.
Compensation; Employee Benefits. As a temporary employee will not be enrolled in the Oregon PERS plan or other employee benefits programs, including any health/dental/vision plans nor any personal leave benefits (sick leave, vacation leave, personal time off, etc.) extended to permanent employees of the City.
