New Employee Benefits. Each Employee who is employed by the Parent or its Subsidiaries at the Effective Time (each a “Continuing Employee”) shall be eligible to receive employee benefits on substantially the same basis in the aggregate as similarly situated current employees of Parent and its Subsidiaries, or in its sole discretion, Parent may continue to maintain the Company Employee Plans as in effect on the Effective Time. For purposes of determining eligibility to participate, vesting and entitlement to benefits where length of service is relevant under any Parent employee benefit plan (other than a defined benefit plan or severance plan) and to the extent permitted by applicable law and the terms of the applicable Parent employee benefit plan, Parent shall provide that the Continuing Employees shall receive service credit under each Parent employee benefit plan (other than a defined benefit plan or severance plan) for their period of service with the Company and predecessors prior to the Closing, except where doing so would cause a duplication of benefits. To the extent permitted by applicable law and the terms of the applicable Parent employee benefit plan, Parent shall waive all limitations as to preexisting conditions exclusions (or actively at work or similar limitations), evidence of insurability requirements and waiting periods with respect to participation and coverage requirements applicable to the Continuing Employees under any medical, dental and vision plans that such employees may be eligible to participate in after the Closing Date. To the extent permitted by applicable law and the terms of the applicable Parent employee plan, Parent shall also provide Continuing Employees and their eligible dependents with credit for any co-payments, deductibles and offsets (or similar payments) made under the Company Employee Plans for the year in which the Closing occurs under Parent’s medical, dental and vision plans for the purposes of satisfying any applicable deductible, out-of-pocket, or similar requirements under any Parent benefit plan in the year in which the Closing occurs.
New Employee Benefits. Any New Employee shall become entitled to receive employee benefits and to participate in benefit plans on whatever bases shall be specified by the Sanitary District in its offer of employment to such New Employee. However, notwithstanding anything contained herein to the contrary, Leland shall be responsible for any medical, dental, life, or other insurance claim by a New Employee which would have been payable under the terms of Leland's insurance or other benefit plan sponsored by Leland if the date of service or other event on which the claim is based occurs on or prior to the New Employee Date of Hire by the Sanitary District. The Sanitary District shall be responsible for any such claims which are based on a date of service or event that occurs on or after the Date of Hire and which are payable under the terms of the Sanitary District's benefit plans applicable to the New Employee.
New Employee Benefits. (a) For a period of at least twelve (12) months following the Effective Time, the Buyer will provide, or will cause the Surviving Corporation and its Subsidiaries to provide, to those individuals who shall have been employees of the Company or any of its Subsidiaries immediately prior to the Effective Time (the “Continuing Employees”) with (i) base salary and cash bonus opportunities no less favorable than, and (ii) employee benefits (excluding equity awards) in the aggregate no less favorable than, those provided to such Continuing Employees by the Company or any of its Subsidiaries immediately prior to the Effective Time. Without limiting the foregoing, with respect to any Continuing Employee whose employment terminates or is terminated during the twelve month period following the Effective Time, the Buyer will provide, or will cause the Surviving Corporation and its Subsidiaries to provide, severance benefits on terms no less favorable than those provided under the severance programs listed on Section 3.15(a) of the Company Disclosure Schedule. Nothing in the foregoing shall be construed to be a guarantee of employment for any Continuing Employee or to require the Buyer or any of its Subsidiaries (including the Surviving Corporation) to continue the employment of any particular Continuing Employee.
New Employee Benefits. Buyer agrees to provide each employee of Seller who receives and accepts an offer of full-time employment from Buyer prior to the Closing Date, and is an employee of Buyer immediately following the Closing Date (collectively, the “Transferred Seller Employees”) with the types and levels of employee benefits maintained by Buyer for similarly situated employees of Buyer, subject to any applicability or other requirements. Seller shall be responsible for the termination of and final 5500 filing requirements for all employee benefit plans not assumed by Buyer. No Transferred Seller Employees will be required to sign a non compete or non solicitation covenant that extends for more than one year after the date such Transferred Seller Employee’s employment with Buyer is terminated.
New Employee Benefits. As of the Effective Time, Buyer shall provide the Company Employees who are employed by Buyer or its Subsidiaries (including the Company and its Subsidiaries) after the Effective Time (the “Continuing Employees”) with substantially the same benefits in the aggregate as those provided to similarly situated employees of Buyer. For purposes of determining eligibility to participate, vesting and entitlement to benefits where length of service is relevant (including for purposes of vacation accrual) under any Buyer employee benefit plan (other than a defined benefit plan or sabbatical arrangement) and to the extent permitted by applicable law, Buyer shall provide that the Continuing Employees shall receive service credit under each Buyer employee benefit plan (other than a defined benefit plan or sabbatical arrangement) for their period of service with the Company and its Subsidiaries and predecessors prior to the Closing, except where doing so would cause a duplication of benefits. Nothing in this Agreement, including this Section 7.9, express or implied, is intended to confer upon any current or former Company Employee any rights or remedies by reason of this Agreement.
