Employment Benefits. In addition to the Salary payable to the Executive hereunder, the Executive shall be entitled to the following benefits:
Employment Benefits. The District and the Guild agree to continue VEBA participation which was first effective January 1, 1994.
Employment Benefits. For the period beginning on the Closing Date and ending on December 31, 2020 (the “Continuation Period”), the Surviving Corporation and its Subsidiaries shall (and Parent shall cause the Surviving Corporation and its Subsidiaries to) maintain for each Continuing Employee (i) base compensation that is not less than the base compensation in effect for such Continuing Employee immediately prior to the Effective Time (ii) target annual cash incentive opportunities that are no less than those in effect for such Continuing Employee immediately prior to the Effective Time; (iii) severance and termination benefits that are no less favorable than (A) those applicable to such Continuing Employee immediately before the Effective Time or (B) the severance and termination benefits provided to similarly situated employees of Parent, whichever is greater; and (iv) all other retirement and welfare benefit and compensation plans, programs, policies, agreements or arrangements at levels that are no less favorable in the aggregate than those in effect for (or available to) such Continuing Employee under the Employee Plans in effect immediately prior to the Effective Time; provided, that nothing in this clause (iv) shall require any particular level of long-term or equity-based incentives during the Continuation Period. Following the Continuation Period, or if the Closing Date occurs after December 31, 2020, from and after the Closing Date, the Surviving Corporation and its Subsidiaries shall (and Parent shall cause the Surviving Corporation and its Subsidiaries to) provide Continuing Employees with all elements of compensation and benefits (including base compensation, target annual cash incentive opportunities, severance and termination benefits, retirement and welfare benefit and compensation plans and long-term and equity-based incentives) in a no less favorable manner than provided to similarly situated employees of Parent and its Subsidiaries (other than Continuing Employees). The foregoing conditions of this Section 6.9(c) shall not apply to the extent that as a result of COVID-19, COVID-19 Measures, or other similar major events beyond the reasonable control of the Surviving Corporation and its Subsidiaries, the business needs of the Surviving Corporation and its Subsidiaries, as reasonably determined by the Surviving Corporation, dictate that alternative actions be taken; provided that such alternative actions are applied in a no less favorable manner to Continuing E...
Employment Benefits. Employer shall provide health and medical insurance for Executive in a form and program to be chosen by Employer for its full-time employees. Executive shall be entitled to participate in any retirement, pension, profit sharing, or other plan approved by the board of directors.
Employment Benefits. As of the Closing, the Surviving Corporation or one of its Subsidiaries will continue to employ the employees of the Company and its Subsidiaries as of the Effective Time. For a period of one year following the Effective Time, the Surviving Corporation and its Subsidiaries will (and Parent will cause the Surviving Corporation and its Subsidiaries to) either (i) maintain for the benefit of each Continuing Employee the Employee Plans and any other employee benefit plans or other compensation and severance arrangements (other than equity-based benefits and, subject to Section 6.11(b), individual employment agreements) of the Surviving Corporation or any of its Subsidiaries (the “Company Plans”) at benefit levels that are substantially comparable in the aggregate to those in effect at the Company or its applicable Subsidiaries on the date of this Agreement, and provide compensation and benefits (other than equity-based benefits and individual employment agreements) to each Continuing Employee pursuant to such Company Plans; (ii) provide compensation, benefits and severance payments (other than equity-based benefits and, subject to Section 6.11(b), individual employment agreements) to each Continuing Employee that are substantially comparable in the aggregate to the compensation, benefits and severance payments (other than equity-based benefits and individual employment agreements) provided to such Continuing Employee immediately prior to the Effective Time (“Comparable Plans”); or (iii) provide some combination of Company Plans and Comparable Plans such that each Continuing Employee receives compensation, benefits and severance payments (other than equity-based benefits and, subject to Section 6.11(b), individual employment agreements) that, taken as a whole, are substantially comparable in the aggregate to the compensation, benefits and severance payments (other than equity-based benefits and individual employment agreements) provided to such Continuing Employee immediately prior to the Effective Time. In each case, base compensation and target incentive compensation opportunity will not be decreased for a period of one year following the Effective Time for any Continuing Employee employed during that period. For a period of one year following the Effective Time, the Surviving Corporation will (and Parent will cause the Surviving Corporation to) provide severance benefits to eligible employees in accordance with the Company’s severance plans, guidelines and p...
Employment Benefits. As an employee of the Company, the Executive shall participate in and receive all general employee benefit plans and programs, as may be in effect from time to time, upon satisfaction by the Executive of the eligibility requirements therefor. Nothing in this Agreement is to be construed or interpreted to provide greater rights, participation, coverage, or benefits under such benefit plans or programs than provided to similarly situated employees pursuant to the terms and conditions of such benefit plans and programs.
Employment Benefits. The Company shall provide Executive vacation time, standard U.S. holidays, sick leave and fringe benefits, including but not limited to, participation in any educational seminars, pension, medical reimbursement and employee benefit plans that may be maintained by the Company from time to time as are made generally available to other senior management employees of the Company in accordance with Company policies. In addition, Executive shall receive the following:
(a) A cellular telephone and account that shall be held in the Company's name.
(b) 100% of all medical expenses including but not limited to dental, and vision, for Executive and his spouse and children up to the age of 22, which shall include insurance premiums and deductible amounts.
(c) Life insurance of $100,000 and disability insurance.
(d) The Company shall obtain and maintain officer and director insurance as the Board determines.
(e) The Company shall grant to Executive any and all standard and customary de minimis benefits granted to Company's salaried employees in general. The Company will not reduce Executive's benefits without the consent of Executive.
Employment Benefits. (a) On or after the Closing Date upon a transition date to be selected by the Buyer in its sole discretion, which is currently expected to be January 1, 2015 (the “Transition Date”), Buyer shall, or shall cause the Surviving Company and/or the appropriate Subsidiaries of Buyer to permit the employees of the Acquired Companies as of immediately prior to the Effective Time who continue to be employed by Buyer, the Surviving Company and/or its Subsidiaries on and after the Effective Time (the “Covered Employees”) to enroll and participate the employee benefit or compensation plans, programs or arrangements adopted, maintained or contributed to by Buyer or the Surviving Company and/or their Subsidiaries in which Covered Employees are eligible to participate (the “Buyer Plans”). The Transition Date may be a different date for separate Buyer Plans. Until the applicable Transition Date is selected for a Buyer Plan, the Buyer shall or shall cause the Surviving Company and/or the appropriate subsidiaries of Buyer to maintain the corresponding Company Employee Plans in which Covered Employees are eligible to participate in accordance with their terms. Further, if the Buyer elects to require the Company to terminate the Savings Plan in accordance with Section 7.11(b), the Transition Date with respect to the Buyer Plan corresponding to the Savings Plan shall be the Closing Date. With respect to any Buyer Plans in which the Covered Employees become eligible to participate on or after the applicable Transition Date, Buyer shall, or shall cause the Surviving Company and/or the appropriate Subsidiaries of Buyer to, no later than the applicable Transition Date: (i) provide the Covered Employees with service credit for purposes of eligibility, participation, vesting and levels of benefits (but not for benefit accruals under any defined benefit pension plan), under each applicable Buyer Plan for all periods of employment with the Acquired Companies or any predecessor entity to the extent that such service was taken in to account under the applicable plan of the Acquired Companies, prior to the Effective Time, and with Buyer, the Surviving Company and any of their Subsidiaries or Affiliates on and after the Effective Time; (ii) cause any pre-existing conditions or limitations, eligibility waiting periods or required physical examinations under any Buyer Plan to be waived with respect to the Covered Employees and their eligible dependents, to the extent waived under the corres...
Employment Benefits. In addition to the Salary and Bonus Compensation payable to Employee hereunder, Employee shall be entitled to the following benefits upon satisfaction by Employee of the eligibility requirements therefor, subject to the following limitations:
Employment Benefits. It is the intent of the DDA Board of Directors to provide its professional staff with employment benefits the same as those that the City provides its employees, including but not limited to sick and other types of leave, vacation, holidays, training, and other benefits as set forth in the City’s Administrative regulations and elsewhere.
