Common use of Special Provisions for Leave Recipients Clause in Contracts

Special Provisions for Leave Recipients. (i) Any offer of employment extended pursuant to Section 9.1(a) to an Available Employee who is not actively at work on the date of such offer as a result of short-term disability leave, or other approved personal leave (including, without limitation, military leave with re-employment rights under federal law, leave with right of re-employment under any collective bargaining agreement and leave under the Family Medical Leave Act of 1993), (individually, a "Leave Recipient" and collectively the "Leave Recipients") will remain effective until such Available Employee's termination of such short-term disability or approved leave of absence, respectively, provided that he or she returns to active service before the later of (A) 180 days following the Closing Date or (B) the date such employee's re-employment rights expire under the applicable agreement or applicable Laws. Prior to returning to active status, such Leave Recipient shall continue to receive benefits, if any, to which he or she is entitled pursuant to the applicable agreement or under the Compensation and Benefit Plans maintained by the Company; provided that to the extent compensation or benefits paid or provided to such a Leave Recipient under the Company's Compensation and Benefit Plans is not fully covered by the Company's insurance, Buyer shall reimburse the Company for the dollar value of any such compensation and benefits that are not covered. (ii) When the Leave Recipient returns to active status pursuant to the terms of clause (i) above and accepts Buyer's offer of employment, such Leave Recipient shall be considered a Transferred Employee (as defined above) and the following provisions shall apply: (A) the Leave Recipient shall cease to be eligible for coverage and benefits under any employee benefit plans or programs maintained by the Company (including, without limitation the Compensation and Benefit Plans) except to the extent, if any, that such coverage and benefits are required by the terms of the Company's plans, applicable Law or by this subsection (c); (B) the Leave Recipient, upon becoming a Transferred Employee, shall become eligible for coverage and benefits under all employee benefit plans or programs maintained by Buyer under the same terms and conditions that apply to other Transferred Employees; and (C) the Leave Recipient's period of leave shall be treated as a period of service under the employee benefit plans and programs of Buyer to the same extent as if the Leave Recipient had received benefits under a similar plan or was subject to a similar policy of Buyer except to the extent such service credit will result in duplication of benefits to the Leave Recipient. (iii) Any Leave Recipient who (A) was receiving short-term disability benefits under a Compensation and Benefit Plan, (B) becomes a Transferred Employee under Section (ii) above, and (C) terminates employment with Buyer within the time period in the applicable company policy under circumstances relating to the same infirmity (as defined in the applicable company policy) which gave rise to the short-term disability that existed on the Closing Date that would entitle such person to benefits under a Compensation and Benefit Plan that is a long term disability plan, shall receive such benefits as are provided under such Company plan. Any benefits under a Buyer plan shall be provided in accordance with, and subject to, the terms of such plan.

Appears in 3 contracts

Samples: Asset Purchase Agreement (Carter Wallace Inc /De/), Asset Purchase Agreement (Church & Dwight Co Inc /De/), Asset Purchase Agreement (Armkel LLC)

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Special Provisions for Leave Recipients. (i) Any offer of employment extended pursuant to Section 9.1(a) to an Available Employee who is not actively at work on the date of such offer as a result of short-term disability leave, or other approved personal leave (including, without limitation, military leave with re-employment rights under federal law, leave with right of re-employment under any collective bargaining agreement and leave under the Family Medical Leave Act of 1993), (individually, a "Leave Recipient" and collectively the "Leave Recipients") will remain effective until such Available Employee's termination of such short-term disability or approved leave of absence, respectively, provided that he or she returns to active service before the later of (A) 180 days following the Closing Date or (B) the date such employee's re-employment rights expire under the applicable agreement or applicable Laws. Prior to returning to active status, such Leave Recipient shall continue to receive benefits, if any, under and shall continue to which he or she is entitled pursuant to the applicable agreement or under the Compensation and Benefit Plans maintained by the Company; provided that to the extent compensation or benefits paid or provided to such a Leave Recipient under the Company's Compensation and Benefit Plans is not fully covered by the Company's insurance, Buyer shall reimburse the Company for the dollar value of any such compensation and benefits that are not covered. (ii) When the Leave Recipient returns to active status pursuant be subject to the terms of clause the applicable long term disability plan, workers' compensation insurance, short term disability plan, military leave policy, maternity/paternity leave policy, approved leave of absence policy, or layoff/recall rights policy of Seller after the Closing Date. As long as the Leave Recipient remains eligible to remain on leave under the applicable Seller policy or receive benefits under the applicable Seller plan or insurance, the following provisions shall apply: (i) above the Leave Recipient shall be treated as an individual who is not a Transferred Employee under Seller's other employee benefit plans or programs; and accepts (ii) neither Buyer nor any of its Affiliates shall be required to provide coverage or benefits to the Leave Recipient under any employee benefit plans or programs maintained by Buyer and its Affiliates. If a Leave Recipient recovers from his or her condition, returns from leave, or is recalled, as applicable, within twelve (12) months after Closing, Seller shall have no obligation to offer or provide any employment to such Leave Recipient, and Buyer or an Affiliate of Buyer shall offer employment to any such Leave Recipient who is able to return to active work and who has a legal, contractual, or other right to reemployment or reinstatement (with Buyer or Seller). If the Leave Recipient commences active service with Buyer or an Affiliate of Buyer's offer of employment, such Leave Recipient shall be considered a Transferred Employee (as defined above) under this Agreement and the following provisions shall apply: (Ax) the Leave Recipient shall cease to be eligible for coverage and benefits under any employee benefit plans or programs maintained by the Company Seller (including, without limitation the Compensation and Benefit Plans) except to the extent, if any, that such coverage and benefits are required by the terms of the Company's plans, applicable Law or by this subsection (cAgreement); (By) the Leave Recipient, upon becoming a Transferred Employee, Recipient shall become eligible for coverage and benefits under all any employee benefit plans or programs maintained by Buyer or its applicable Affiliate under the same terms and conditions that apply to other Transferred Employees; and (Cz) the Leave Recipient's period of leave shall be treated as a period of service under the employee benefit plans and programs of Buyer or its applicable Affiliate to the same extent as if the Leave Recipient had received benefits under a similar plan or insurance or was subject to a similar policy of Buyer except or its applicable Affiliate; provided, however, that to the extent permitted by applicable Requirements of Law, Buyer and its Affiliates shall not be required to credit any Leave Recipient with such service credit will result in duplication for purposes of benefits to the Leave Recipient. (iii) Any Leave Recipient who (A) was receiving short-term disability benefits benefit accrual or contributions under a Compensation and Benefit Plan, (B) becomes a Transferred Employee under Section (ii) above, and (C) terminates employment with Buyer within the time period in the applicable company policy under circumstances relating to the same infirmity (as defined in the applicable company policy) which gave rise to the short-term disability that existed on the Closing Date that would entitle such person to benefits under a Compensation and Benefit Plan that is a long term disability any pension plan, shall receive such benefits as are provided under such Company profit sharing plan. Any benefits under a Buyer plan shall be provided in accordance with, and subject tosavings plan, the terms of such or other deferred compensation plan.

Appears in 1 contract

Samples: Stock Purchase Agreement (Centurytel Inc)

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