Employment and Benefit Plans. (a) Following the Effective Time, ---------------------------- the Parent shall cause the Company and/or The Prudential Insurance Company of America ("PICA") to provide each then current employee of the Company who was an employee of the Company as of the Effective Time ("Company Employee") with benefits under employee benefit plans (as such term is defined in Section 3(3) of ERISA ("Benefit Plans")), that are similar to the benefits received by (i) similarly situated Company Employees under Benefit Plans sponsored by the Company immediately prior to the Effective Time subject to the terms and conditions of such Company Benefit Plans, as in effect from time to time, or (ii) similarly situated employees of the Parent under Benefit Plans sponsored by PICA on or after the Effective Time, subject to the terms and conditions of such PICA Benefit Plans, as in effect from time to time. Active service with the Company prior to the Effective Time shall be recognized for purposes of determining eligibility to participate in and vesting of benefits under (but not for purposes of determining benefit accrual under or eligibility to receive post-retirement welfare benefits under) the Benefit Plans of the Company or PICA on or after the Effective Time; provided, that active service with the Company -------- prior to the Effective Time shall not be recognized if such recognition of service would result in a duplication of benefits under the Benefit Plans of the Company or PICA. Nothing in this Agreement shall be construed as limiting in any way (i) the right of the Parent or the Company (as the case may be) to - terminate the employment of any Company Employee after the Effective Time or (ii) the right of PICA or the Company (as the case may be) to amend or terminate -- any Benefit Plan of PICA or the Company (including, without limitation, to change the level of benefits provided thereunder or the requirements for eligibility to participate thereunder) in accordance with the terms thereunder.
Employment and Benefit Plans. 50 6.11. Stock Options; Stock Plans......................................... 50 6.12.
Employment and Benefit Plans. Except as set forth on the Disclosure Schedule:
Employment and Benefit Plans. (i) No Person other than the Employees have a legal or contractual right to obtain employment from the Companies, excluding transfers of employees across entities of the Saint-Gobain group.
Employment and Benefit Plans. PetVivo does not have any collective bargaining agreement or any bonus, pension, profit sharing, deferred compensation, incentive compensation, stock ownership, stock purchase, stock option, phantom stock, retirement, vacation, severance, disability, death benefit, hospitalization, medical or other plan, arrangement or understanding providing benefits to any current or former employee, officer or director of PetVivo. As of the date of this Agreement, there are no written employment, consulting, indemnification, severance or termination agreements or arrangements between PetVivo and any current or former employee, officer or director of PetVivo. It is understood by the parties hereto, however, that employment agreements for officers of PetVivo will be in place before the Closing of the Stock Exchange and that the terms and conditions of such agreements shall be subject to the approval of the PetVivo board of directors and each of the parties thereto prior to Closing.
Employment and Benefit Plans. FISION DE does not have any collective bargaining agreement or any bonus, pension, profit sharing, deferred compensation, incentive compensation, stock ownership, stock purchase, stock option, phantom stock, retirement, vacation, severance, disability, death benefit, hospitalization, medical or other plan, arrangement or understanding providing benefits to any current or former employee, officer or director of FISION DE. There are no written employment, consulting, indemnification, severance or termination agreements or arrangements between FISION DE and any current or former employee, officer or director of FISION DE.
Employment and Benefit Plans. 27.1 Details of the jobs and the terms of employment of every employee of each member of the Group and the years of continuous service for redundancy purposes of that employee are set out in the Disclosure Letter.
Employment and Benefit Plans. (a) Purchaser agrees that each Key Employee and Managing Director of the Company who continues employment with the Company after the Closing Date shall be employed at the same rate of salary provided immediately prior to the Closing Date and shall be considered for a reasonable salary increase in the normal course of business on or about July 1, 2009. Except as specifically provided otherwise in this Section, Continuing Employees shall be eligible for benefits and incentive programs comparable to those made available by Purchaser to similarly situated employees of Purchaser, at a cost and on terms and conditions comparable to those provided to similarly situated employees of Purchaser; provided, however, that continuance on a transitional basis of the Company’s existing medical, dental, vision and Code Section 125 plans at the same cost and in accordance with the terms and conditions of such plans in effect as of Closing shall not be deemed to violate the terms of this Section. Nothing in this Agreement (i) shall require Purchaser or the Company to continue to employ any particular Company Employee following the Closing Date, or (ii) except as specifically provided otherwise herein, shall alter or limit Purchaser’s ability to amend, modify, or terminate any benefit plan, program, agreement, or arrangement.
Employment and Benefit Plans. (a) Prior to the Closing, the Seller shall, and shall cause its Affiliates, to take commercially reasonable efforts to cause all Business Employees not currently employed by the Company to be transferred to the Company (and Seller shall, and shall cause its Affiliates (other than the Company) to, assign, transfer and convey to the Company the rights and Liabilities (whether arising prior to, on or following the Closing Date) with respect to the employment of such Business Employees); provided, that the Parties understand and agree that it may be impossible or impracticable to effect the transfer of certain Business Employees prior to or at the Closing and that in such instance the transfer of such Business Employees shall be effected as soon as practicable thereafter consistent with and pursuant to Section 6.01(a) of the Disclosure Schedule; provided, that any and all costs associated with any such delay in transferring the Business Employees shall be covered by the Seller.
Employment and Benefit Plans. Other than as set forth on Schedule 3.08 hereto, PetVivo does not have any collective bargaining agreement or any bonus, pension, profit sharing, deferred compensation, incentive compensation, stock ownership, stock purchase, stock option, phantom stock, retirement, vacation, severance, disability, death benefit, hospitalization, medical or other plan, arrangement or understanding providing benefits to any current or former employee, officer or director of PetVivo. Other than as set forth on Schedule 3.08 hereto, there are no written employment, consulting, indemnification, severance or termination agreements or arrangements between PetVivo and any of its current or former employees, officers or directors.
