Employee Benefit Plans of the Company Sample Clauses
The 'Employee Benefit Plans of the Company' clause defines the company's obligations and representations regarding the employee benefit plans it maintains for its workforce. This clause typically outlines the types of benefit plans in place, such as health insurance, retirement savings, and other welfare programs, and may require the company to disclose details about plan compliance, funding status, and any pending claims or liabilities. Its core practical function is to ensure transparency and provide assurance to counterparties—such as buyers in a merger or acquisition—that the company's benefit plans are properly managed and do not pose undisclosed financial or legal risks.
Employee Benefit Plans of the Company. Consultant shall not be entitled to participate in any benefit plans of the Company as a result of his engagement under this Agreement; provided, however, Consultant shall continue to be entitled to all of the accrued rights and benefits afforded to Consultant pursuant to the terms of the employee benefit plans of the Company in which Consultant participated as of his retirement date.
Employee Benefit Plans of the Company. The Sheridan Group Section 125 Flexible Benefit Plan is administered by ▇▇▇▇▇▇ Financial Services, Inc. pursuant to a Service Agreement, dated January 1, 2003-December 31, 2003.
Employee Benefit Plans of the Company. ▇▇▇▇▇▇ shall be entitled to the rights and benefits of a retiree pursuant to the retiree medical plan of the Company as in effect as of the Retirement Date applicable to retirees of the Company subject to and in accordance with the terms and conditions of such plan. In addition, ▇▇▇▇▇▇ shall be entitled to receive the benefits payable to ▇▇▇▇▇▇ pursuant to the terms of the other employee benefit plans of the Company in which ▇▇▇▇▇▇ participates as in effect as of the Retirement Date. This Agreement shall neither reduce nor enlarge ▇▇▇▇▇▇'▇ rights, if any, under the terms of such plans and shall not change the terms of such plans or the benefits earned by or due to ▇▇▇▇▇▇ thereunder. The benefits earned by or due to ▇▇▇▇▇▇ in accordance with the terms of such plans shall be paid to ▇▇▇▇▇▇ by the Company or such plans (as the case may be), and such payments shall discharge fully all obligations of the Company and such plans with respect to ▇▇▇▇▇▇'▇ benefits under such plans.
Employee Benefit Plans of the Company. ▇▇▇▇▇▇ shall be entitled to all of the rights and benefits afforded to ▇▇▇▇▇▇ pursuant to the terms of the employee benefit plans of the Company in which ▇▇▇▇▇▇ participates as in effect as of the Retirement Date. This Agreement shall neither reduce nor enlarge ▇▇▇▇▇▇’ rights, if any, under the terms of such plans and shall not change the terms of such plans or the benefits earned by or due to ▇▇▇▇▇▇ thereunder.
Employee Benefit Plans of the Company. The Company has made available to Acquirer or its representatives a complete list of each Company "employee benefit plan" (as defined by Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA")), and any other bonus, profit sharing, pension, compensation, deferred compensation, stock option, stock purchase, fringe benefit, severance, post-retirement, scholarship, disability, sick leave, vacation, individual employment, commission, bonus, payroll practice, retention, or other plan, agreement, policy, trust fund or arrangement (each such plan, agreement, policy, trust fund or arrangement is referred to herein as an "EMPLOYEE BENEFIT PLAN", and collectively, the "EMPLOYEE BENEFIT PLANS") that is currently in effect, was maintained since December 31, 1996 (and under which the Company has current liability), or which has been approved before the date hereof but is not yet effective, for the benefit of (i) directors or employees of the Company or any other persons performing services for the Company, (ii) former directors or former employees of the Company or any other persons formerly performing services for the Company, and/or (iii) beneficiaries of anyone described in (i) or (ii) (collectively, "BUSINESS EMPLOYEES") or with respect to which the Company or any "ERISA AFFILIATE" (hereby defined to include any other corporation or trade or business controlled by, controlling or under the common control with the Company (within the meaning of Section 4001(b) of ERISA, Section 4001(a)(14) of ERISA or Section 414 of the Code) has or has had any obligation on behalf of any Business Employee. Schedule 4.16 also sets forth a true and complete list of each ERISA Affiliate.