Employee Benefits Generally. The Executive will be entitled to participate in all employee benefit plans, practices and programs maintained by the Company and made available to employees generally including, without limitation, all pension, retirement, profit sharing, savings, health, hospitalization, disability, dental, life or travel accident insurance benefit plans, vacation and sick leave in accordance with the terms of such plans, practices and programs as in effect from time to time.
Employee Benefits Generally. (a) Neither the employment transfers of Transferred Employees nor any of the other actions contemplated by this Agreement shall cause CMV, the General Partner, the MLP or any of their Subsidiaries to become a participating employer in any Benefit Plan. Subject to the General Partner’s reimbursement obligations under the Secondment Agreement, Chesapeake Management and its Affiliates (other than CMV, the General Partner, the MLP and their Subsidiaries) shall remain solely responsible for all obligations and Liabilities arising under the express terms of the Benefit Plans, and none of CMV, the General Partner, the MLP or any of their Subsidiaries shall assume any Benefit Plan or have any obligations or Liabilities arising under the express terms of the Benefit Plans, in each case except for cost reimbursement pursuant to the Secondment Agreement and as specifically provided in Section 4.3 below.
(b) From and after the Transfer Date, the General Partner shall adopt and maintain such compensation arrangements and employee benefit plans, programs, policies and arrangements as shall be determined by the General Partner or its Subsidiaries from time to time in the General Partner’s sole discretion (the “General Partner Plans”). Pursuant to the Services Agreement, Chesapeake Management shall provide the General Partner with certain transition assistance to enable the General Partner to develop, implement and administer its compensation and benefit plans and programs.
(c) With respect to each General Partner Plan, the General Partner shall, subject to applicable Law, grant to the Transferred Employees eligible to participate in such General Partner Plan credit for the past service Chesapeake Management and its Affiliates and predecessor entities recognized under a similar Benefit Plan for the following: (i) vesting and eligibility purposes under any General Partner Plans in which they are or may become eligible to participate (except with respect to any equity-based plan(s)) and (ii) determining the duration and amount of their benefits under any sick pay, vacation or paid time off or severance policy maintained by the General Partner in which they are or may become eligible to participate.
(d) Without limiting the rights of the Parties under any other provision of this Agreement, Chesapeake Management may terminate any or all of its obligations under this Agreement, upon prior written notice of not less than ninety (90) days to the General Partner, if, and only if,...
Employee Benefits Generally. During the Employment Term, Employee shall be entitled to participate in and to receive benefits from all present and future accident, disability, medical, dental and similar plans, pension plans, savings plans, profit sharing plans, stock option plans or other similar employee benefit plans available generally to all other officers or employees of Employer. The amount and extent of these benefits, including employee-paid premiums, co-payments and deductibles, shall be governed by the specific benefit plan, as it may be amended from time to time.
Employee Benefits Generally. Except as otherwise expressly provided in this Agreement or as otherwise required by applicable Law and subject to the reimbursement obligations of the members of the Valvoline Group pursuant to Section 16.01, each Valvoline Employee or Former Valvoline Employee who is eligible to participate in any Ashland Global Benefit Plan shall participate in such Ashland Global Benefit Plan following the date hereof and through the applicable Benefit Plan Transfer Date on the terms and conditions applicable thereto in effect from time to time.
Employee Benefits Generally. During the Employment Term, the Executive shall be provided with benefits on the same basis as benefits are generally made available to other senior executives of the Company, including without limitation, medical, dental, vision, disability, life insurance and pension benefits. The Executive shall be entitled to four (4) weeks paid vacation.
Employee Benefits Generally. Except as otherwise expressly provided in this Agreement or as otherwise required by applicable Law and subject to the reimbursement obligations of ASV pursuant to this Agreement, each ASV Employee or Former ASV Employee who is eligible to participate in any Manitex Benefit Plan shall participate in such Manitex Benefit Plan following the date hereof and through the applicable Benefit Plan Transfer Date on the terms and conditions applicable thereto in effect from time to time.
Employee Benefits Generally. Subject to the provisions of this Article XI, as of the Closing Date, the Purchaser shall provide or cause to be provided to Transferred Employees employee benefits which are, in the aggregate, substantially similar to those provided to similarly situated employees of the Purchaser and its Affiliates. Each of the Parent and the Seller agree that neither the Purchaser nor any of its Affiliates shall assume sponsorship or have any responsibility or Liability under any employee benefit plan, program, policy or arrangement maintained by the Seller or any of its Affiliates, and the Purchaser agrees that none of Parent, the Seller or any of their Affiliates shall have any responsibility or Liability under any employee benefit plan, program, policy or arrangement maintained by the Purchaser or any of its Affiliates (collectively, the "Purchaser Benefit Plans"). Notwithstanding the foregoing, the Purchaser, the Seller and their respective Affiliates shall have the obligations and responsibilities as otherwise specifically provided in this Article XI.
Employee Benefits Generally. Until at least January 1, 2003, (a) the Rockwell Collxxx Xxxup will provide to Rockwell Collxxx Xxxticipants employee benefits that are substantially comparable in the aggregate to the employee benefits provided to Rockwell Collxxx Xxxticipants by Rockwell and its Subsidiaries (including members of the Rockwell Collxxx Xxxup and members of the Rockwell Science Center Group) immediately prior to the Time of Distribution and (b) the Rockwell Science Center will provide to Rockwell Science Center Participants employee benefits that are substantially comparable in the aggregate to the employee benefits provided to Rockwell Science Center Participants by Rockwell and its Subsidiaries (including members of the Rockwell Science Center Group) immediately prior to the
Employee Benefits Generally. All obligations of the Newco Group under this Article VIII with respect to employee benefit plans, arrangements or policies for the benefit of employees and former employees (and their beneficiaries) of the Company and its Subsidiaries in place immediately prior to the Time of Contribution shall be treated as Assumed Liabilities and not as Retained Liabilities under this Agreement. All obligations of the Company Group under this Article VIII with respect to the employee benefit plans, arrangements or policies for the benefit of employees and former employees (and their beneficiaries) of the Company and its Subsidiaries in place immediately prior to the Time of Contribution shall be treated as Retained Liabilities and not as Assumed Liabilities under this Agreement.
Employee Benefits Generally. From the Closing Date until the first anniversary thereof, Purchaser shall provide or cause to be provided the Continuing Business Employees with compensation and welfare benefits (excluding any severance or retiree medical benefits) that are not materially less favorable in the aggregate than those generally provided to similarly situated employees of Parent or its Affiliates immediately prior to the Closing. Except as may be specifically required by this Agreement or by applicable Law, Purchaser or its Affiliates shall not be obligated to provide any particular employee benefits to any Continuing Business Employee for any specific period of time. Nothing in this Agreement shall be deemed to limit the right of Purchaser or any of its Affiliates to terminate the employment of any Business Employee.
