Continuation of Plans. The Parent shall have sole discretion with respect to the determination as to whether or when to terminate, merge or continue any employee benefit plans and programs of the Seller; provided, however, that the Parent shall continue to maintain the Seller’s 401(k) Retirement Plan and the Seller’s group welfare benefit plans until the Seller Employees are permitted to participate in the corresponding similar plans of the Parent or any Subsidiary of the Parent in accordance with Section 7.4(a).
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Xerox Corp), Agreement and Plan of Merger (Global Imaging Systems Inc)
Continuation of Plans. The Subject to Section 7.4(a) hereof, the Parent shall have sole discretion with respect to the determination as to whether or when to terminate, merge or continue any employee benefit plans and programs of the Seller; provided, however, that the Parent shall continue to maintain the Seller’s 401(kSeller plans (other than stock-based plans) Retirement Plan and the Seller’s group welfare benefit plans until the Seller Employees are permitted to participate in the corresponding similar plans of the Parent or any Subsidiary of the Parent in accordance with Section 7.4(a).
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Digitas Inc), Agreement and Plan of Merger (Digitas Inc)
