Common use of Comparable Benefits Clause in Contracts

Comparable Benefits. For one year following the Closing, Parent shall, or shall cause an affiliate to, offer employee benefits, effective as of the Closing (including, but not limited to, health, welfare, pension, vacation, savings and severance benefits) to the Business Employees that are comparable in the aggregate to the employee benefits that are in effect for such employees immediately prior to the Closing. Prior to Closing, Parent and Bord▇▇ ▇▇▇ll mutually agree upon what employee benefits shall be offered to non-union Business Employees during the one-year period following the Closing, in order to provide comparable benefits within the meaning of this Section 7.4. If the parties are unable to agree as to what employee benefits offered by Parent are "comparable," the decision of an independent third-party actuary (the selection of which shall be acceptable to both parties) shall be binding. With respect to Business Employees who are covered by Collective Bargaining Agreements, Parent agrees to negotiate with the certified bargaining representative(s) for such Business Employees over the employee benefits to be offered following the Closing.