Common use of EMPLOYEE BENEFIT PAYMENTS Clause in Contracts

EMPLOYEE BENEFIT PAYMENTS. During the period from the date of this Agreement to the Closing Date, the Company, by action and at the discretion of its Compensation Committee, shall have the right but not the obligation to make the following payments and allocations with respect to all individuals employed by the Company or any of its subsidiaries on July 1, 1996, including the employees identified on Section 5.6 of the Disclosure Schedule whose employment with the Company or any of its subsidiaries terminated with the Company's approval prior to the date of this Agreement and any employee whose employment may be terminated with the Company's approval prior to the Closing Date (collectively, the "Eligible Employees"):

EMPLOYEE BENEFIT PAYMENTS. During the period from the date of this Agreement to the Closing Date, the Company, by action and at the discretion of its Compensation Committee, shall have the right but not the obligation to make the following payments and allocations with respect to all individuals employed by the Company or any of its subsidiaries Subsidiaries on or after July 1, 1996, including the employees identified on Section 5.6 5.5 of the Disclosure Schedule whose employment with the Company or any of its subsidiaries Subsidiaries terminated with the Company's approval prior to the date of this Agreement and any employee whose employment may be terminated by the Company with the Company's approval consent of the Acquiror prior to the Closing Date (collectively, the "Eligible Employees"):