Common use of No General Increases Clause in Contracts

No General Increases. Except for any increase required under the terms of any benefit plan referred to in Section 5.15 and any increase in compensation that will not constitute an Assumed Liability, the Seller shall not (i) grant any general or uniform increase in the rates of pay of employees of ▇▇▇▇▇▇, except for increases in salary or wages in the ordinary course operation of ▇▇▇▇▇▇ consistent with past practice, or (ii) grant any general, uniform or individual increase in the benefits under any bonus or pension plan or other contract or commitment for the benefit of any employee of ▇▇▇▇▇▇, or to increase the compensation payable or to become payable to officers, key salaried employees or representatives of ▇▇▇▇▇▇, or (iii) increase any bonus, insurance, pension or other benefit plan, payment or arrangement made to, for or with any such officers, key salaried employees or representatives.

Appears in 1 contract

Sources: Asset Purchase Agreement (High Voltage Engineering Corp)

No General Increases. Except for any increase required under the terms of any employment agreement or benefit plan referred to in Section 5.15 and any increase in compensation that will not constitute an Assumed Liability4.20, the Seller no Cedarapids Company shall not (i) grant any general or uniform increase in the rates of pay of employees of ▇▇▇▇▇▇such Cedarapids Company, except for increases in salary or wages in the ordinary course operation of ▇▇▇▇▇▇ the Cedarapids Business consistent with past practice, or (ii) grant any general, uniform or individual increase in the benefits under any bonus or pension plan or other contract or commitment for the benefit of any employee of ▇▇▇▇▇▇such Cedarapids Company, or to increase the compensation payable or to become payable to officers, key salaried employees or representatives of ▇▇▇▇▇▇such Cedarapids Company, or (iii) increase any bonus, insurance, pension or other benefit plan, payment or arrangement made to, for or with any such officers, key salaried employees or representatives.

Appears in 1 contract

Sources: Stock Purchase Agreement (Terex Corp)