Purchaser Plans. Notwithstanding the foregoing, nothing contained herein shall (i) be treated as an amendment to any particular employee benefit plan of Purchaser, HMA, or their Affiliates, (ii) obligate HMA, Purchaser or any of their Affiliates to maintain any particular benefit plan or arrangement or (iii) prevent HMA, Purchaser or any of their Affiliates from amending or terminating any benefit plan or arrangement. Except as limited in this Section, Purchaser retains the right to change, modify or terminate any wages, benefits, policies and procedures in its sole discretion as it deems appropriate.
Purchaser Plans. 4.5.1 The Purchaser shall, as soon as reasonably practicable after the Closing Date, at its own cost, establish its own provident fund. The Purchaser shall also, as soon as reasonably practicable following the Closing Date, at its own cost, obtain a new policy from an insurer determined by the Purchaser or its Affiliates for extending superannuation benefits to the Transferred Employees for the period on and from the Closing Date. Until the establishment of such funds, on and following the Closing Date:
Purchaser Plans. 4.5.1 At the Closing, the Transferred Employees will become participants in the provident fund maintained by the Purchaser (the “Purchaser Provident Fund”).
Purchaser Plans. (a) Following the Closing Date, Purchaser shall cause the Company to provide to persons who were employees of the Company or any of its subsidiaries prior to the Closing Date (the "Company Personnel") employee benefit plans, programs and arrangements (the "Purchaser Plans") which in the aggregate are substantially comparable to those employee benefit plans, programs and arrangements generally provided to similarly situated employees of Purchaser from time to time.
Purchaser Plans. 4.4(b) Purchaser's Consent Schedule......................... 3.3
Purchaser Plans. (a) Transferred Employees shall cease to participate in each of the Seller Benefit Plans for periods after the Closing (or, if applicable with respect to an Employee, the Subsequent Transfer Date). For periods after the Closing (or, if applicable with respect to an Employee, the Subsequent Transfer Date), each Transferred Employee shall be eligible, subject to the provisions of this Article 11, to participate in the Purchaser Benefit Plans which, for the period from the Closing Date until December 31, 2005, shall provide benefits which are substantially comparable in the aggregate to the benefits provided under the corresponding Seller Benefit Plans as in effect immediately prior to the Closing; provided, however, that neither Purchaser nor any Purchaser Designee shall be under any obligation to provide benefits that are comparable or similar to those benefits provided to Transferred Employees through any Excluded Seller Plans prior to the Closing (or, if applicable, the Subsequent Transfer Date). Without limiting the generality of the foregoing, to the extent applicable, Transferred Employees (and their eligible dependents) shall be given credit for their service with the Seller and its Affiliates for all purposes (other than benefit accrual under a defined benefit pension plan) to the extent such service was taken into account under a corresponding Seller Benefit Plan and for purposes of satisfying any waiting periods and evidence of insurability requirements, shall be covered under any Purchaser Benefit Plan which is a welfare benefit plan without application of pre -existing condition limitations and shall be given credit for amounts paid under a corresponding Seller Benefit Plan during the same period for purposes of applying deductibles, copayments and out -of -pocket maximums as though such amounts had been paid in accordance with the terms and conditions of the corresponding Purchaser Benefit Plan. Notwithstanding the foregoing provisions of this Section 11.4, service and other amounts shall not be credited to Transferred Employees (or their eligible dependents) to the extent the crediting of such service or other amounts would result in duplication of benefits.
Purchaser Plans. 4.4(b) Reinsurance Transaction.........................................4.6 SAP.........................................................2.6(a) SAP Financial Statements........................................2.6(a) Pyramid Intellectual Property...............................2.14 Pyramid.....................................................
Purchaser Plans. Section 7.6
Purchaser Plans. Except as otherwise required by Law or any agreement and except as otherwise provided in this Agreement, effective as of the Closing Date, current and former employees of the Target Companies who, as of the Closing Date are not employed by Seller or its Affiliates, shall cease to be active participants in any employee benefit plans maintained by Seller and its Affiliates except for rights that have accrued as of the Closing Date.
Purchaser Plans. Purchaser has provided Seller with a true and correct summary description of each of Purchaser’s welfare benefit and 401(k) plans that are to be offered to the Continuing Employees following the Closing to the extent and as provided in Section 5.10. ARTICLE V Covenants SECTION 5.01.
