Common use of Benefit Arrangements Clause in Contracts

Benefit Arrangements. (a) Employee shall be entitled to participate in all health, welfare, insurance, pension and other similar employee benefit plans and programs of Employer (including, without limitation, the Employer's "Perquisite Plan") or the Supervisory Partner which are open to participation by employees holding employment positions comparable to Employee's position; provided, however, that such participation by Employee shall in all cases be subject to the terms and provisions of each such employee plan or program and also to applicable federal, state or other governmental laws and regulations; provided further such benefits shall be on terms no less favorable than under Employee's prior employment agreement with PIMCO Inc. in effect as of the date hereof.

Benefit Arrangements. (a) Employee shall be entitled to participate in all health, welfare, insurance, pension and other similar employee benefit plans and programs of Employer (including, without limitation, the Employer's "Perquisite Plan") or the Supervisory Supervisory. Partner which are open to participation by employees holding employment positions comparable to Employee's position; provided, however, that such participation by Employee shall in all cases be subject to the terms and provisions of each such employee plan or program and also to applicable federal, state or other governmental laws and regulations; provided further such benefits shall be on terms no less favorable than under Employee's prior employment agreement with PIMCO Inc. in effect as of the date hereof.