Common use of Flexible Spending Account Plan Clause in Contracts

Flexible Spending Account Plan. Buyer or its Affiliates shall continue to employ all Hired Employees for at least six (6) months after the Date of Closing ("Employment Period"), and for Bonus Employees, through the 2003 calendar year ("Bonus Period"), provided that Buyer or its Affiliates shall be entitled to terminate the employment of any such Hired Employee (including a Bonus Employee) for cause as determined in accordance with Buyer's policies and any applicable state or federal law in the reasonable discretion of Buyer or its Affiliates. With respect to any Bonus Employees, Seller shall pay or credit to Buyer at Closing an amount equal to the average annual bonus paid to each of such employees for calendar years 2000 through 2002 as shown on the schedule initialed by the parties (the "Average Bonus") multiplied by one-third, and unless such Bonus Employee is terminated for cause, Buyer shall, with respect to any such employee who meets his or her performance goals, targets and objectives for 2003 established by Seller and approved by Buyer (which approval shall not be withheld except in extraordinary circumstances), pay to such employees, in the first quarter of 2004, a bonus at least equal to the Average Bonus for such employees. As of January 1, 2004, Buyer and its Affiliates may in their sole discretion establish bonus objectives and potentials for the Bonus Employees in accordance with Buyer's policies. If Buyer or its Affiliates terminate the employment of a Hired Employee other than for cause before the end of the Employment Period, or terminates the employment of a Bonus Employee other than for cause before the end of the Bonus Period, Buyer shall be obligated to indemnify Seller and its Affiliates from and against any Claim by such Hired Employee (i) for severance pay in the amount shown on Schedule 6.1 and (ii) as to Bonus Employees, also for the amount of such Employee's Average Bonus, together with Seller's costs of defense, including attorney's fees incurred in defending against any such claim.

Flexible Spending Account Plan. Buyer or its Affiliates shall continue to employ all Hired Employees for at least six (6) months after the Date of Closing ("Employment Period"), and for Bonus Employees, through the 2003 calendar year ("Bonus Period"), provided that Buyer or its Affiliates shall be entitled to terminate the employment of any such Hired Employee (including a Bonus EmployeeEmployer) for cause as determined in accordance with Buyer's policies and any applicable state or federal law in the reasonable discretion of Buyer or its Affiliates. With respect to any Bonus Employees, Seller shall pay or credit to Buyer at Closing an amount equal to the average annual bonus paid to each of such employees for calendar years 2000 through 2002 as shown on the schedule Schedule initialed by the parties (the "Average Bonus") multiplied by one-third, and unless such Bonus Employee is terminated for cause, Buyer shall, with respect to any such employee who meets his or her performance goals, targets and objectives for 2003 established by Seller and approved by Buyer (which approval shall not be withheld except in extraordinary circumstances), pay to such employees, in the first quarter of 2004, a bonus at least equal to the Average Bonus for such employees. As of January 1, 2004, Buyer and its Affiliates may in their sole discretion establish bonus objectives and potentials for the Bonus Employees in accordance with Buyer's policies. If Buyer or its Affiliates terminate the employment of a Hired Employee other than for cause before the end of the Employment Period, or terminates the employment of a Bonus Employee other than for cause before the end of the Bonus Period, Buyer shall be obligated to indemnify Seller and its Affiliates from and against any Claim by such Hired Employee (i) for severance pay in the amount shown on Schedule 6.1 and (ii) as to Bonus Employees, also for the amount of such Employee's Average Bonus, together with Seller's costs of defense, including attorney's fees incurred in defending against any such claim.

Flexible Spending Account Plan. Buyer or its Affiliates shall continue to employ all Hired Employees for at least six (6) months after the Date of Closing ("Employment Period"), and for Bonus Employees, through the 2003 calendar year ("Bonus Period"), provided that Buyer or its Affiliates shall be entitled to terminate the employment of any such Hired Employee (including a Bonus EmployeeEmployer) for cause as determined in accordance with Buyer's policies and any applicable state or federal law in the reasonable discretion of Buyer or its Affiliates. With respect to any Bonus Employees, Seller shall pay or credit to Buyer at Closing an amount equal to the average annual bonus paid to each of such employees for calendar years 2000 through 2002 as shown on the schedule initialed by the parties (the "Average Bonus") multiplied by one-third, and unless such Bonus Employee is terminated for cause, Buyer shall, with respect to any such employee who meets his or her performance goals, targets and objectives for 2003 established by Seller and approved by Buyer (which approval shall not be withheld except in extraordinary circumstances), pay to such employees, in the first quarter of 2004, a bonus at least equal to the Average Bonus for such employees. As of January 1, 2004, Buyer and its Affiliates may in their sole discretion establish bonus objectives and potentials for the Bonus Employees in accordance with Buyer's policies. If Buyer or its Affiliates terminate the employment of a Hired Employee other than for cause before the end of the Employment Period, or terminates the employment of a Bonus Employee other than for cause before the end of the Bonus Period, Buyer shall be obligated to indemnify Seller and its Affiliates from and against any Claim by such Hired Employee (i) for severance pay in the amount shown on Schedule 6.1 and (ii) as to Bonus Employees, also for the amount of such Employee's Average Bonus, together with Seller's costs of defense, including attorney's fees incurred in defending against any such claim.