Emplovee Benefits Clause Samples

The Employee Benefits clause defines the types of benefits an employer will provide to employees as part of their compensation package. This may include health insurance, retirement plans, paid time off, and other perks, with specifics such as eligibility requirements and enrollment procedures outlined in the agreement. By clearly stating what benefits are offered and under what conditions, this clause ensures both parties understand their rights and obligations, reducing the risk of misunderstandings or disputes regarding employee entitlements.
Emplovee Benefits. The Employee shall be entitled to all fringe benefits that are currently or hereafter given during the term of this Agreement to employees in comparable positions, including but not limited to life insurance, medical and dental, health and accident, disability, and pension or profit-sharing plans, programs or arrangements. In addition, the Employee shall be entitled to an automobile allowance from the Company of $750 per month and payment by the Company of the automobile insurance for the Employee's automobile.
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Emplovee Benefits. The Employee shall be entitled to and shall receive employee benefits or participate in plans and programs maintained by or on behalf of the Subsidiary which are otherwise made available to employees of the Subsidiary, including but not limited to, medical, health, accident and disability plan, cafeteria plan and 401(k) plan.
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Emplovee Benefits. Provided he otherwise satisfies any applicable eligibility requirements for participation, the Executive will be entitled to participate in the welfare, retirement, perquisite, and fringe benefit plans, practices, and programs maintained by the Company and made available to senior executives generally and as may be in effect from time to time. The Executive’s participation in any such plans, practices and programs for which he satisfies the applicable eligibility requirements will be on the same basis and terms as are applicable to senior executives of the Company generally.
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Related to Emplovee Benefits

  • Retiree Benefits Employees retiring on or after January 1, 2006 will be eligible for retiree benefits as presented to the Union Negotiation Committee during discussions for renewal of the Collective Agreements that expired December 31, 2002.

  • Employee Benefits During the Employment Term, Executive will be entitled to participate in the employee benefit plans currently and hereafter maintained by the Company of general applicability to other senior executives of the Company. The Company reserves the right to cancel or change the benefit plans and programs it offers to its employees at any time.

  • Other Employee Benefits In addition to the foregoing, during the Employment Term, the Employee will be entitled to participate in and to receive benefits as a senior executive under all of the Company’s employee benefit plans, programs and arrangements available to senior executives, subject to the eligibility criteria and other terms and conditions thereof, as such plans, programs and arrangements may be duly amended, terminated, approved or adopted by the Board from time to time.

  • Employee Benefits; ERISA (a) Except as set forth on Schedule 4.14 to the DHS Disclosure Letter, there are no employee benefit plans (including any plans for the benefit of directors or former directors), contracts or agreements (including employment agreements and severance agreements, incentive compensation, bonus, stock option, stock appreciation rights and stock purchase plans) of any type (including plans described in Section 3(3) of ERISA), maintained by DHS, any of its Subsidiaries or any trade or business, whether or not incorporated (an "DHS ERISA AFFILIATE"), that together with DHS would be deemed a "controlled group" within the meaning of Section 4001(a)(14) of ERISA, or with respect to which DHS or any of its Subsidiaries has or may have a liability (the "DHS BENEFIT PLANS"). Except as disclosed on Schedule 4.14 to the DHS Disclosure Letter (or as otherwise permitted by this Agreement), (i) neither DHS nor any ERISA Affiliate has any plan or commitment, whether legally binding or not, to create any additional DHS Benefit Plan or modify or change any existing DHS Benefit Plan that would affect any employee or terminated employee of DHS or any ERISA Affiliate, and (ii) since December 31, 1997, there has been no change, amendment, modification to, or adoption of, any DHS Benefit Plan. (b) With respect to each DHS Benefit Plan: (i) if intended to qualify under Section 401(a), 401(k) or 403(a) of the Code, each such plan so qualifies, and its trust is exempt from taxation under Section 501(a) of the Code; (ii) no failures to administer such plan in accordance with its terms and applicable law have occurred that have had or would reasonably be expected to have a Material Adverse Effect on DHS; (iii) no breaches of fiduciary duty have occurred; (iv) no prohibited transaction within the meaning of Section 406 of ERISA has occurred; (v) as of the date of this Agreement, no lien imposed under the Code or ERISA exists; and (vi) all contributions and premiums due (including any extensions for such contributions and premiums) have been made in full or adequate provision has been made therefor in the DHS Financial Statements. (c) None of the DHS Benefit Plans has incurred any "accumulated funding deficiency," as such term is defined in Section 412 of the Code, whether or not waived. (d) Neither DHS nor any ERISA Affiliate has incurred any liability under Title IV of ERISA (including Sections 4063-4064 and 4069 of ERISA) since the effective date of ERISA that has not been satisfied in full. (e) With respect to each DHS Benefit Plan that is a "welfare plan" (as defined in Section 3(l) of ERISA), no such plan provides medical or death benefits with respect to current or former employees of DHS or any of its Subsidiaries beyond their termination of employment, other than as required by law or on an employee-pay-all basis. (f) The consummation of the Merger pursuant to this Agreement will not (i) entitle any individual to severance pay or any tax "gross-up" payments with respect to the imposition of any tax pursuant to Section 4999 of the Code or accelerate the time of payment or vesting, or increase the amount, of compensation or benefits due to any individual with respect to any DHS Benefit Plan, or (ii) constitute or result in a prohibited transaction under Section 4975 of the Code or Section 406 or 407 of ERISA with respect to any DHS Benefit Plan. (g) There is no DHS Benefit Plan that is a "multiemployer plan," as such term is defined in Section 3(37) of ERISA, or which is covered by Section 4063 or 4064 of ERISA.

  • Employee Benefits Plans Schedule 6.11 hereto identifies each ERISA Plan as of the Closing Date. No ERISA Event has occurred or is expected to occur with respect to an ERISA Plan. Full payment has been made of all amounts that a Controlled Group member is required, under applicable Law or under the governing documents, to have paid as a contribution to or a benefit under each ERISA Plan. The liability of each Controlled Group member with respect to each ERISA Plan has been fully funded based upon reasonable and proper actuarial assumptions, has been fully insured, or has been fully reserved for on its financial statements. No changes have occurred or are expected to occur that would cause a material increase in the cost of providing benefits under the ERISA Plan. With respect to each ERISA Plan that is intended to be qualified under Code Section 401(a), (a) the ERISA Plan and any associated trust operationally comply in all material respects with the applicable requirements of Code Section 401(a); (b) the ERISA Plan and any associated trust have been amended to comply with all such requirements as currently in effect, other than those requirements for which a retroactive amendment can be made within the “remedial amendment period” available under Code Section 401(b) (as extended under Treasury Regulations and other Treasury pronouncements upon which taxpayers may rely); (c) the ERISA Plan and any associated trust have received a favorable determination letter from the Internal Revenue Service stating that the ERISA Plan qualifies under Code Section 401(a), that the associated trust qualifies under Code Section 501(a) and, if applicable, that any cash or deferred arrangement under the ERISA Plan qualifies under Code Section 401(k), unless the ERISA Plan was first adopted at a time for which the above-described “remedial amendment period” has not yet expired; (d) the ERISA Plan currently satisfies, in all material respects, the requirements of Code Section 410(b), without regard to any retroactive amendment that may be made within the above-described “remedial amendment period”; and (e) no contribution made to the ERISA Plan is subject to a material excise tax under Code Section 4972. With respect to any Pension Plan, the “accumulated benefit obligation” of Controlled Group members with respect to the Pension Plan (as determined in accordance with Statement of Accounting Standards No. 87, “Employers’ Accounting for Pensions”) does not exceed the fair market value of Pension Plan assets. Any reference to “material” in this Section 6.11 shall have the same meaning as material under Section 5.6 hereof.