Employment Terms and Benefits. The Buyer shall cause the Company to provide, from the Closing Date until at least one (1) year following the Closing Date, to each Employee who is employed by the Company on and after the Closing Date a base salary and bonus opportunity at the same level or greater than such Employee’s base salary and bonus opportunity as in effect on the day before the Closing Date. The Employees as of the Closing Date who are employed by the Company shall immediately following the Closing Date be provided with benefits for a period of at least one (1) year that are no less favorable, in the aggregate, than those provided to the Employees by the Seller or the Company immediately prior to the Closing Date. For a period of at least one (1) year following the Closing Date, the Buyer shall cause the Company to provide retiree medical and, if applicable under the terms of the current Retiree Medical and Life Insurance Plan for Consumers Water Employees (the “Seller Retiree Welfare Plan”), life insurance benefits for retirees of the Company on the Closing Date and for Employees of the Company who if they were to retire would be eligible for such retiree welfare benefits on the Closing Date at the same cost and at the same level as provided on the day prior to the Closing Date; provided, that nothing in this Agreement or in such retiree welfare benefit plan shall require any such benefits to continue beyond such one (1) year period.
Employment Terms and Benefits. Effective as of the Closing, each Hired DQ Valuation Business Employee will cease to be a DQ Valuation Business Employee, and will cease to actively participate in any employee benefit plan, program, or arrangement maintained by any of Sellers or their Subsidiaries. From the Closing through the date that is nine (9) months after the Closing Date, or an earlier date of termination of employment, if applicable, Buyers will, or will cause their Subsidiaries to, provide each Continuing Employee with a base salary or wage level, bonus opportunity, and benefits, perquisites, and other terms and conditions of employment that are substantially similar in the aggregate than those to which he or she was entitled as of the date of this Agreement (but, in the case of each, excluding equity-based compensation and benefits); provided, that nothing contained in this Agreement precludes, or may be construed as precluding, any of Buyers or their Affiliates, in their sole discretion, from (i) changing the title, compensation, or benefits of any Continuing Employees (or any other Person) (so long as the comparability standard contained in this Section 5.9(a) is otherwise met) or (ii) terminating, at any time after the Closing, any Continuing Employees (or any other Person); provided, further, that Buyers or their Affiliates, as applicable, will provide each Continuing Employee with terms and conditions of employment sufficient to avoid Seller, or any of its Affiliates, from incurring liability under any Worker Notification Law as a result of any loss of employment (whether actual or constructive) experienced by the Continuing Employee.
Employment Terms and Benefits. With respect to the employees who are employed by the Companies as of the Closing Date (the “Continuing Employees”), for a period extending until the earlier of the termination of a Continuing Employee’s employment by the Buyer or its Affiliates or one (1) year following the Closing Date (or, with respect to continuation of bonus or commission opportunity, until the end of calendar 2023), Bxxxx agrees that each Continuing Employee will be provided with compensation and benefits that are substantially comparable in the aggregate to the compensation and benefits provided to each such Continuing Employee immediately prior to the Closing Date (assuming the Companies do not have, and therefore excluding, defined benefit pension, retiree medical, deferred compensation, severance, and equity or equity-based compensation benefits); provided, that Buyer will only be obligated to provide such compensation and benefits to the extent Buyer has received copies of the Employee Benefit Plans pursuant to which such compensation and benefits are provided in accordance with Section 3.13(a). Nothing in this Agreement will change the “at-will” status of any at-will employee or otherwise require Buyer or the Companies to continue to employ any particular employee of the Companies following the Closing Date.
Employment Terms and Benefits. With respect to the employees of the Company who are employed by the Company as of the Closing Date (the “Continuing Employees”), for a period extending until the earlier of the termination of a Continuing Employee’s employment by the Buyer or its Affiliates or one (1) year following the Closing Date (or, with respect to continuation of bonus or commission opportunity, until the end of calendar 2017), Buyer agrees that each Continuing Employee will be provided with compensation and benefits that are substantially comparable in the aggregate to the compensation and benefits provided to each such Continuing Employee immediately prior to the Closing Date. Nothing in this Agreement shall change the “at-will” status of any at-will Employee or otherwise require Buyer or the Company to continue to employ any particular Employee of the Company following the Closing Date.
Employment Terms and Benefits. With respect to the Employees who are employed by the Acquired Companies as of immediately prior to the Closing (the “Continuing Employees”), for a period extending until the earlier of the termination of a Continuing Employee’s employment by Buyer or its Affiliates or twelve (12) months following the Closing Date, Buyer agrees that each Continuing Employee will be provided with (a) cash compensation (including base salary or wage rates, target bonus or other target incentive opportunities and commission rates and other commission arrangements, in each case as applicable to the Continuing Employee), not less favorable than the cash compensation (including base salary or wage rates, target bonus or other target incentive opportunities and commission rates and other commission arrangements) provided to such Continuing Employee immediately prior to the Closing and (b) other benefits (other than equity or equity-based benefits) that are not materially less favorable in the aggregate than the benefits provided to such Continuing Employee as of immediately prior to the Closing.
