Employment and Benefit Arrangements. (a) From and after the ----------------------------------- Effective Time, Parent shall cause the Surviving Corporation to honor all employment, severance, termination and retirement agreements to which the Company is a party, as such agreements are in effect on the date hereof. (b) For a one-year period following the Effective Time, Parent shall cause the Surviving Corporation to provide those employees who are employees of the Surviving Corporation at the Effective Time with benefits that are, in the aggregate, no less favorable to such employees as are the benefits of the Company available to such employees immediately prior to the Effective Time. (c) The provisions of this Section 6.10 are not intended to create rights of third party beneficiaries.
Appears in 2 contracts
Samples: Merger Agreement (Tyco International LTD), Merger Agreement (Earth Technology Corp Usa)
Employment and Benefit Arrangements. (a) From and after the ----------------------------------- Effective Time, Parent shall cause the Surviving Corporation to honor all employment, severance, termination and retirement agreements to which the Company is a party, as such agreements are in effect on the date hereof.
(b) For a one-year period following the Effective Time, Parent shall cause the Surviving Corporation to provide those employees who are employees of the Surviving Corporation at the Effective Time with benefits that are, in the aggregate, no less favorable to such employees as are the benefits of the Company available to such employees immediately prior to the Effective Time.
(c) The provisions of this Section 6.10 6.08 are not intended to create rights of third party beneficiaries.
Appears in 2 contracts
Samples: Merger Agreement (Rgi Holdings Inc), Merger Agreement (Legend Properties Inc)
Employment and Benefit Arrangements. (a) From and after the ----------------------------------- Effective Time, Parent shall cause the Surviving Corporation to honor all employment, severance, termination and retirement agreements to which the Company is a party, as such agreements are in effect on the date hereof.
(b) For a one-year period following the Effective Time, Parent shall cause the Surviving Corporation to provide those employees who are employees of the Surviving Corporation at the Effective Time with benefits that are, in the aggregate, no less favorable to such employees as are the benefits of the Company available to such employees immediately prior to the Effective Time.
(c) The provisions of this Section 6.10 7.08 are not intended to create rights of third party beneficiaries.
ARTICLE VIII CONDITIONS ----------
Appears in 1 contract
Samples: Agreement and Plan of Merger (Tyco International LTD)
