Common use of Treatment of Compensation and Benefit Arrangements; Terms of Employment Clause in Contracts

Treatment of Compensation and Benefit Arrangements; Terms of Employment. Except as otherwise (i) required by a Collective Bargaining Agreement, the Transfer Regulations or applicable Law, or (ii) expressly provided for in this Agreement, for a period of twelve (12) months following the Distribution Date (or if shorter, during the period of employment), Veralto shall, or shall cause a member of the Veralto Group to provide or cause to be provided to each Veralto Employee (A) a base salary or hourly wage rate, as applicable, that is at least equal to the base salary or hourly wage rate provided to such Veralto Employee immediately prior to the Distribution Date, (B) subject to Section 5.1, a cash incentive or sales commission opportunity no less favorable than the cash incentive or sales commission opportunity in effect for such Veralto Employee, if any, immediately prior to the Distribution Date, and (C) health, welfare and retirement benefits that are substantially similar to those provided to such Veralto Employee immediately prior to the Distribution Date (without regard to any defined benefit pension plan benefits for Veralto Employees based in the United States). Notwithstanding the foregoing and except as otherwise set forth in Section 3.5 or Article IV, nothing contained in this Agreement shall require Veralto to make any grants of equity awards relating to shares of Veralto Common Stock to Veralto Employees following the Distribution Date.