Equivalent Compensation Clause Samples
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Equivalent Compensation. From the Closing Date until six months following the Closing Date, the Company will maintain or will cause to be maintained base salary, wages, and compensation levels for the benefit of the Covered Employees, and such Covered Employees will be eligible to participate in the Company’s benefit plans and programs, which, in the aggregate, are reasonably equivalent in value to, the wages, compensation levels, and core benefit plans provided to the Covered Employees on the Execution Date. In addition, and notwithstanding the previous sentence, for the 12 months following the Closing Date, the Company will maintain as to each Covered Employee a severance plan that is substantially equivalent to the severance plan to which such Covered Employee was entitled prior to the Closing Date.
Equivalent Compensation. From the Closing Date until six months following the Closing Date, Purchaser will maintain or will cause to be maintained base salary, wages, and compensation levels for the benefit of the Buckskin Employees, and such Buckskin Employees will be eligible to participate in Purchaser’s existing benefit plans and programs, which, in the aggregate, are reasonably equivalent in value to, the wages, compensation levels, and benefit plans provided to the Buckskin Employees on the date of this Agreement; provided, however, that nothing in this Agreement shall require Purchaser to implement new benefit plans and programs for the benefit of the Buckskin Employees. In addition, and notwithstanding the previous sentence, Purchaser will continue to maintain the Company’s severance plan (on the same basis) for the 12 months following the Closing Date.
Equivalent Compensation. For a period commencing on the Effective Date and ending on December 31, 2001, Dresser or another member of either Company Group (all of which shall constitute of the "Dresser Group") or Non-Controlled Entities (the "Dresser Group") shall provide for Continued Employees in the aggregate, other than those covered by a collective bargaining agreement or similar agreement, employee compensation and employee benefit plans, programs, and policies that are in the aggregate no less favorable than those in effect with respect to similarly situated employees of the Company Groups immediately prior to the Effective Date. HALLIBURTON COMPANY AGREEMENT AND PLAN OF RECAPITALIZATION APPENDIX VI
Equivalent Compensation. For a period commencing on the ----------------------- Effective Date and ending on December 31, 2001, the Acquiror Group shall provide for Continued Employees in the aggregate, other than those covered by a collective bargaining agreement or similar agreement, employee compensation and employee benefit plans, programs, and policies that are in the aggregate Halliburton Company Agreement and Plan of Recapitalization Appendix VI no less favorable than those in effect with respect to similarly situated employees of the Company Groups immediately prior to the Effective Date.
Equivalent Compensation. Purchaser, upon hiring persons employed by ----------------------- Seller as of the Closing, shall endeavor to insure that the overall compensation package for such employees meets or exceeds the compensation package provided to such employees by Seller. The compensation package may include such benefits as 401(k) contributions and salary and wages. The parties shall cooperate in analyzing the equivalency of the foregoing and presenting any adjustments to employees.