Severance, Etc. Buyer shall provide the Employees severance --------------- arrangements as set forth in the Severance Pay Plan attached hereto as Schedule 5.12 (the "Severance Plan"), which Buyer shall adopt immediately ------------- after the Closing.
Severance, Etc. Except as set forth in Part 2.15(q) of the Disclosure Schedule: (i) the employment of each current employee of an Acquired Company is subject to termination upon not more than 30 days prior written notice under the termination notice provisions included in the applicable Acquired Company Employee Agreement with such employee disclosed in Part 2.15(c) of the Disclosure Schedule or under applicable Legal Requirements; and (ii) all obligations of the Acquired Companies to provide statutory severance pay to all current employees pursuant to applicable Legal Requirements are fully funded in the relevant employee’s provident funds, pursuant to Section 14 Arrangements, and the Acquired Companies will not have any further liability or obligation to make payment of statutory or contractual severance pay in the event of dismissal of employees, except for the release of the funds accumulated in accordance with the Section 14 Arrangements. The Section 14 Arrangement was properly applied in accordance with the terms of the general permit issued by the Israeli Minister of Labor regarding all former and current employees of any Acquired Company who reside in Israel based on their full salaries and from their commencement date of employment. All amounts that any Acquired Company is legally or contractually required to either: (A) deduct from their employees’ salaries and any other compensation or benefit or to transfer to such employees’ plans, or (B) withhold from employees’ salaries and any other compensation or benefit and to pay to any Governmental Body as required by any applicable Legal Requirement, have been duly deducted, transferred, withheld and paid, in accordance with applicable Legal Requirement, and no Acquired Company has any outstanding obligation to make any such deduction, transfer, withholding or payment (other than routine payments, deductions or withholdings to be timely made in the Ordinary Course). (r)
Severance, Etc. Except as set forth on Schedule 3.13(e), the transactions contemplated by this Agreement shall not, whether alone or upon the occurrence of any additional or subsequent event, result in any payment of severance or other compensation to, or any acceleration, vesting or increase in benefits under any Employee Plan for the benefit of, any employee. None of the Assumed Liabilities is an obligation to make a payment that will not be deductible under Section 280G of the Code or that will be subject to Taxes under Section 4999 of the Code.
Severance, Etc. Except for benefits, if any, due under the Severance Plan, the transactions contemplated by this Agreement shall not, whether alone or upon the occurrence of any additional or subsequent event, result in any payment of severance or other compensation to, or acceleration, vesting or increase in benefits under any Employee Plan for the benefit of any current or former director, officer or employee of the Company.
Severance, Etc. Seller agrees to make the severance and other payments to employees of Target and Operating Company substantially in the amounts, and at the times, set forth in the Employee Agreement in the form attached hereto as Exhibit F.
Severance, Etc. The Buyer covenants and agrees that it shall be solely and exclusively responsible for any and all termination, severance and other amounts payable, whether imposed by law or contract, resulting from, or related to, the termination of employment of any of the Company's employees at or after the Closing.
Severance, Etc. The Company will be responsible for the severance expenses (computed in accordance with Schedule 2.19) due any Employee terminated after the Closing Date. The Company or the Buyer will be responsible for any employee benefit plan-related costs or payments due such Employees under the Buyer's employee benefit plans. The Sellers will be responsible for severance expenses, other than those accrued on the Closing Date Balance Sheet, due (a) any Employee terminated at or prior to the Closing Date, (b) for the employer-paid extended Company Welfare Plan Coverage provided by FGC under Section 5.15, and (c) under the Sellers' Plans and Other Benefit Obligations.
Severance, Etc. (i) The employment of each current Company Service Provider is subject to termination upon not more than 30 days prior written notice under the termination notice provisions included in the applicable Company Service Provider Agreement with such Company Service Provider identified or required to be identified in Part 2.15(d) of the Disclosure Schedule or under applicable Legal Requirements without the payment of severance; and (ii) no current Company Service Provider’s employment by any Acquired Company requires any special license, permit or other Governmental Authorization.
Severance, Etc. The transactions contemplated by this Agreement will not, whether alone or upon the occurrence of any additional or subsequent event, result in any payment of severance or other compensation to, or any acceleration, vesting or increase in benefits under any Employee Plan for the benefit of, any employee.
Severance, Etc. Except as set forth on Section 4.16(g) of the Disclosure Schedule, the Company is not a party to any oral or written (i) agreement with any equityholders, director, executive officer or other key employee of the Company (A) the benefits of which are contingent, or the terms of which are materially altered, upon the occurrence of a transaction involving the Company of the nature of any of the transactions contemplated by this Agreement, (B) providing any term of employment or compensation guarantee or (C) providing severance benefits or other benefits after the termination of employment of such director, executive officer or key employee; or (ii) agreement or plan binding the Company, including any equity option plan, equity appreciation right plan, restricted equity plan, equity purchase plan or severance benefit plan, any of the benefits of which shall be increased, or the vesting or time of payment of the benefits of which shall be accelerated, by the occurrence of any of the transactions contemplated by this Agreement or the value of any of the benefits of which shall be calculated on the basis of any of the transactions contemplated by this Agreement. No amounts payable under any Company Employee Plan will fail to be deductible for federal income Tax purposes by virtue of Section 280G of the Code.
