Common use of Employees; Wage Rates Clause in Contracts

Employees; Wage Rates. Purchaser shall cause the Company to (i) maintain for two (2) years after the Closing Date no less than the same wage rates or salary level and levels of responsibility, not less favorable than those in effect immediately prior to the Closing and (ii) credit all Persons employed by the Company immediately prior to the Closing Date (“Company Employees”) with all years of service provided prior to the Closing Date for all purposes under all compensation and Benefit Plans for the benefit of Company Employees. Purchaser also shall cause the Company to make all required payments to each Benefit Plan when due. No provision of this Agreement will be construed as a guarantee of continued employment of any employee of the Company or its Subsidiaries (if any), and this Agreement will not be construed so as to prohibit the Company or its Subsidiaries from having the right to terminate the employment of any employee of the Company or its Subsidiaries.