Retirement and Welfare Plans. Executive shall participate in employee retirement and welfare benefit plans made available to the Company’s senior level executives as a group or to its employees generally, as such retirement and welfare plans may be in effect from time to time and subject to the eligibility requirements of the plans. Nothing in this Agreement shall prevent the Company from amending or terminating any retirement, welfare or other employee benefit plans or programs from time to time as the Company deems appropriate.
Retirement and Welfare Plans. Neither Awards made under the Plan nor shares of Stock or cash paid pursuant to such Awards, may be included as “compensation” for purposes of computing the benefits payable to any Participant under the Company’s or any Affiliate’s retirement plans (both qualified and non-qualified) or welfare benefit plans unless such other plan expressly provides that such compensation shall be taken into account in computing a participant’s benefit.
Retirement and Welfare Plans. Employee shall be eligible to participate in any profit sharing, qualified and nonqualified retirement plans, and any health, life, accident, disability insurance, sick leave, supplemental medical reimbursement insurance (Exec-U-Care) or other benefit plans or programs made available to similarly situated employees of the Company as of the Effective Date (collectively, the “Plans”), as long as they are kept in force by the Company and provided that Employee meets the eligibility requirements of the respective plans and programs. Nothing contained herein shall limit the right of the Company, in its sole and absolute discretion, to modify or discontinue any of the Plans. AMENDED AND RESTATED EMPLOYMENT AGREEMENT 2
Retirement and Welfare Plans. During the Term, from the Effective Date through the date of termination of Executive’s employment with the Company for any reason, Executive shall be entitled to participate in any welfare, health and life insurance and pension benefit plans as may be adopted from time to time by the Company on the same basis as that provided to similarly situated executives of the Company generally, consistent with the terms of such plans.
Retirement and Welfare Plans. Executive shall be eligible to participate in employee retirement and welfare benefit plans of the Company (or a Company subsidiary or affiliate) made available to the Company’s (or its subsidiaries’ or affiliates’) senior level executives as a group or to its employees generally, as such retirement and welfare plans may be in effect from time to time and subject to the eligibility requirements of the plans. Nothing in this Agreement shall prevent the Company from adopting, amending or terminating any retirement, welfare or other employee benefit plans or programs from time to time as the Company deems appropriate. _______ Executive’s Initials
Retirement and Welfare Plans. Following the Effective Date, to the extent permitted by law and applicable tax qualification requirements, and subject to any generally applicable break in service or similar rule, and the approval of any insurance carrier, third party provider or the like with commercially reasonable efforts of the RVI Entities and Buyer, each New Buyer IT Employee shall continue to participate in retirement and welfare benefit plans in which he or she was participating prior to the Closing Date and shall receive service credit for purposes of eligibility to participate and vesting (but not for benefit accrual purposes) for employment, compensation, and employee benefit plan purposes with the Seller prior to the Effective Date. Notwithstanding any of the foregoing to the contrary, none of the provisions contained herein shall operate to duplicate any benefit provided to any New Buyer IT Employees or the funding of any such benefit. The RVI Entities and Buyer will also cause all (a) pre-existing conditions and proof of insurability provisions, for all conditions that all New Buyer IT Employees and their covered dependents have as of the Effective Date, and (b) waiting periods under each plan that would otherwise be applicable to newly hired employees to be waived in the case of clause (a) or clause (b) with respect to New Buyer IT Employees to the same extent waived or satisfied under the RVI Entities’ employee benefit plans; provided that nothing in this sentence shall limit the ability of the RVI Entities or the Buyer from amending or entering into new or different employee benefit plans or arrangements provided such plans or arrangements treat the New Buyer IT Employees in a substantially similar manner as employees of Buyer are treated.
Retirement and Welfare Plans. Employee shall be eligible to participate in any profit sharing, qualified and nonqualified retirement plans, and any health, life, accident, disability insurance, sick leave, or other benefit plans or programs made available to similarly situated employees of the Company as of the Effective Date (collectively, the “Plans”), as long as they are kept in force by the Company and provided that Employee meets the eligibility requirements of the respective Plans. Nothing contained herein shall limit the right of the Company, in its sole and absolute discretion, to modify, amend or discontinue any of the Plans.
Retirement and Welfare Plans. Neither shares nor cash paid pursuant to this Agreement may be included as “compensation” for purposes of computing the benefits payable to the Executive as a participant under the Company’s retirement plans (both qualified or nonqualified) or welfare benefit plans unless such other plan expressly provides that such compensation shall be taken into account in computing the Executive’s benefit.
Retirement and Welfare Plans. SECTION 2.1 SFX 401(K) PLAN
(a) SFX and Entertainment shall take all actions necessary or appropriate so that, as of the Distribution Date, all members of the Delsener/Xxxxxx Group shall cease to be participating employers and sponsors of the SFX 401(k)
Retirement and Welfare Plans. The Executive and his eligible dependents shall be entitled to participate in all savings, retirement and welfare benefit and perquisite plans applicable generally to other senior executives of the Company, in accordance with the terms of the plans, as may be amended from time to time; provided, however, that the Executive shall not be eligible to participate during the Term in any severance plan sponsored or maintained by the Company or any of its then-Affiliates (the “Company Group”) (including the Parent) or in any supplemental executive retirement plan sponsored or maintained by the Parent. As of the date immediately after a Transaction closes, the Executive shall automatically cease to participate (as an active participant) in all Parent benefit plans and shall be eligible on and after such date to participate only in the plans of the Company applicable to its senior executives.
