Employee Benefit Plans Generally. You shall be entitled to participate in all employee benefit plans which the Company provides or may establish from time to time for the benefit of its senior executives.
Employee Benefit Plans Generally. (a) Except as otherwise provided under the Transition Services Agreement, Parent and its Affiliates will take such action as is necessary such that, as of the applicable Transfer Time, each Purchased Company ceases participation in each Employee Benefit Plan maintained by Parent or any of its Affiliate (other than an Assumed Benefit Plan). Except as otherwise provided under Sections 7.13 and 7.14, each Purchased Company will retain all Liabilities under any Employee Benefit Plans maintained by such Purchased Company as of the Closing.
(b) During the Continuation Period, Purchaser will, or will cause to be, provided to Transferred Employees employee benefits that are (x) substantially similar to those provided to Purchaser’s similarly situated employees or, at Purchaser’s option, (y) substantially comparable in the aggregate to those provided to Transferred Employees under the Employee Benefit Plans immediately prior to the Closing (disregarding, for purposes of comparability under clause (y), pension, retiree medical and equity-based compensation received by the Transferred Employee immediately prior to the Closing).
(c) Purchaser will use commercially reasonable efforts or will ensure, where required by the applicable laws, to credit Transferred Employees for their service with any Seller or any Purchased Company or their respective Affiliates (and any predecessors) for purposes of eligibility and vesting under Purchaser’s plans in which Transferred Employees participate after the applicable Transfer Time, and any applicable vacation or severance policies or programs, except for instances where such crediting of service would result in a duplication of benefits. Purchaser will use commercially reasonable efforts to permit Transferred Employees (and their eligible spouses and dependents) to participate in Purchaser’s plans without being subject to any waiting periods or any restrictions or limitations for pre-existing conditions, except to the extent any such person has not satisfied any corresponding applicable waiting period or limitation under the Employee Benefit Plans. Purchaser will use commercially reasonable efforts to cause Purchaser’s plans to credit each Transferred Employee (and any spouses and dependents) with the amount, if any, paid during the calendar year in which the Closing Date occurs under the Employee Benefit Plans towards deductibles, co-pays and out-of-pocket maximums.
Employee Benefit Plans Generally. As of the Distribution Date, all SWS medical, dental, disability, life insurance and similar plans provided by SWS Group to its employees shall terminate as to employees of Westwood Group. Westwood will adopt employee benefit plans that will be substantially similar to plans provided by SWS to be effective as of the Distribution Date.
Employee Benefit Plans Generally. (a) For a period of 12 months following the Closing Date, Buyer will provide employee benefits to Transferred Employees under Employee Benefit Plans maintained by Buyer that are (x) substantially similar to those provided to Buyer’s similarly situated employees or, at Buyer’s option, (y) substantially comparable in the aggregate to those provided to Transferred Employees under the Employee Benefit Plans immediately prior to the Closing.
(b) Buyer will credit Transferred Employees in accordance with Buyer’s plans for their service with any member of the Seller Group and their Affiliates (and any predecessors) for purposes of eligibility and vesting under Buyer’s plans in which Transferred Employees participate after the Closing and any applicable vacation or severance policies or programs. Buyer will permit Transferred Employees (and their eligible spouses and dependents) to participate in Buyer’s plans without being subject to any waiting periods or any restrictions or limitations for pre-existing conditions, except to the extent any such person has not satisfied any corresponding applicable waiting period or limitation under the Employee Benefit Plans. Buyer’s plans will credit each Transferred Employee (and any spouses and dependents) with the amount, if any, paid during the calendar year in which the Closing Date occurs under the Employee Benefit Plans towards deductibles, co-pays and out-of-pocket maximums.
Employee Benefit Plans Generally. The Employee shall be entitled to participate in all employee benefit plans which the Company provides or may establish from time to time for the benefit of its Employee employees, including without limitation group life, medical, dental, surgical and other health insurance, short and long-term disability, 401(k) and similar plans.
Employee Benefit Plans Generally. The Executive shall be entitled to participate in all employee benefit plans which the Company provides or may establish from time to time for the benefit of its executive employees, including without limitation group life, medical, dental, surgical and other health insurance, short and long-term disability, 401(k) and similar plans.
Employee Benefit Plans Generally. As of the Closing Date, except as otherwise set forth in the Transition Services Agreement, the Acquired Company shall terminate its participation in each Benefit Plan that is not an Assumed Benefit Plan, and in no event shall any Transferred Employee be entitled to accrue any benefits under such Benefit Plans with respect to services rendered or compensation paid on or after the Closing Date, provided that to the extent a Transferred Employee participates in a Benefit
Employee Benefit Plans Generally. Except as required by applicable Law or otherwise expressly provided in this Section 6.2(c), as of the Closing Date, the Acquired Company shall terminate their participation in each Retained Benefit Plan, and in no event shall
Employee Benefit Plans Generally. 60 SECTION 7.3 401(k) PLAN . . . . . . . . . . . . . . . . . 61 SECTION 7.4 WELFARE PLANS . . . . . . . . . . . . . . . . 61 SECTION 7.5 RETIREE HEALTH . . . . . . . . . . . . . . . 62 SECTION 7.6
Employee Benefit Plans Generally. (a) Seller and its Subsidiaries will take such action as is necessary such that, as of the Closing Date, the Acquired Companies cease participation in each Employee Benefit Plan. Except as otherwise provided herein, after the Closing Date Seller will retain all liabilities for claims under such Employee Benefit Plans, whether such claims are made before, on or after the Closing Date.
(b) Purchaser will credit the Business Employees for their service with Seller, the Acquired Companies, the Asset Sellers and their Affiliates (and any predecessors in interest) for purposes of eligibility and vesting under Purchaser's plans in which Business Employees participate after the Closing Date, and any applicable vacation or severance policies or programs, but not to the extent such credit would result in a duplication of benefits. Purchaser will permit Business Employees (and their eligible spouses and beneficiaries) to participate in Purchaser's plans without being subject to any waiting periods or any restrictions or limitations for pre-existing conditions, except to the extent any such person has not satisfied any corresponding applicable waiting period or limitation under the Employee Benefit Plans. Purchaser's plans will credit each Business Employee (and any spouses and dependents) with the amount, if any, paid during the calendar year in which the Closing Date occurs under the Employee Benefit Plans towards deductibles, co-pays and out- of-pocket maximums.
