Employees and Employee Benefits (a) Parent agrees that, subject to any necessary transition period and subject to any applicable plan provisions and Legal Requirements, and except in the case of a benefit normally covered by an insurance program not being covered by insurance or in the case that any of the following would result in a duplication of benefits: (i) all employees of the Acquired Corporations who continue employment with Parent, the Surviving Corporation or any Subsidiary of the Surviving Corporation after the Effective Time (“Continuing Employees”) shall be eligible to participate in Parent’s health, vacation, 401(k) and severance plans, to substantially the same extent as similarly situated employees of Parent (including the waiver of limitations as to pre-existing conditions exclusions, except to the extent not waived under Company Benefit Plans); and (ii) for purposes of determining a Continuing Employee’s eligibility to participate in such plans and for purposes of vesting and benefit accrual, such Continuing Employee shall receive credit under such plans to the extent of the amount credited on the basis of such service was credited under the corresponding Company Benefit Plan as in effect immediately prior to the Effective Time. Nothing in this Section 5.5(a) or elsewhere in this Agreement shall be construed to create a right in any employee of any of the Acquired Corporations to employment with Parent, the Surviving Corporation or any Subsidiary of the Surviving Corporation, and the employment of each Continuing Employee shall be “at will” employment. Except for Indemnified Representatives (as defined in Section 5.6) to the extent of their respective rights pursuant to Section 5.6, no Company Associate or Continuing Employee shall be deemed to be a third party beneficiary of this Agreement. (b) The Company shall not take or permit to be taken any action to terminate any employee benefit plan sponsored by any of the Acquired Corporations (or in which any of the Acquired Corporations participates) that contains a cash or deferred arrangement intended to qualify under Section 401(k) of the Code; provided, however, that if so directed in writing by Parent no later than three days prior to the Effective Time, the Company shall terminate, effective no later than the day immediately prior to the Effective Time, any such employee benefit plan. (c) If the Company obtains knowledge of the possible resignation or other possible termination of employment of any individual employed by the Company or any of the other Acquired Corporations, then the Company shall promptly notify Parent in writing of such possible resignation or other possible termination of employment.