Pension and Welfare Benefits. During the Term, the Executive shall be eligible to participate fully in all health benefits, insurance programs, pension and retirement plans and other employee benefit and compensation arrangements available to senior officers of the Company generally.
Pension and Welfare Benefits. Main will provide the Executive, during the Employment Period, with pension and welfare benefits (within the meaning of Section 3 of the Employee Retirement Income Security Act of 1974, as amended ("ERISA")) in the aggregate not less favorable than those received by other employees of Main.
Pension and Welfare Benefits. During the Term, the Executive shall be ---------------------------- eligible to participate in the pension and retirement plans (the "Pension Plans") provided to other senior executive officers of the Company, and participate fully in all health benefits, insurance programs and other similar executive welfare benefit arrangements available to other senior executive officers of the Company and shall be provided benefits under such plans and arrangements substantially equivalent, in the aggregate, to the benefits provided to other senior executive officers of the Company and on substantially similar terms and conditions. Notwithstanding the foregoing, during the Term, the Company shall provide the Executive with life and disability insurance at a benefit level no less favorable to the Executive than the benefit level provided to him as of the date of this Agreement.
Pension and Welfare Benefits. During the Term, the Executive will participate in all pension and welfare plans, programs and benefits that are applicable to executives of the Company. The benefits provided to the Executive during the Term, when taken as a whole, shall be no less favorable than the benefits which, when taken as a whole, are provided to any other executive of the Company; PROVIDED that Executive shall continue to receive life insurance coverage in an amount equal to at least one (1) times his then Salary. During the Term, the Executive shall also be entitled to all additional perquisites which the Company provides to its executives. Subject to subsection 7(a)(i) hereof, from and after the expiration of the Term or, if earlier, the date of termination of Executive's employment hereunder, Executive shall be entitled, during his lifetime, to full Company-paid health and life insurance for himself and his immediate family, at a level no less favorable than that in effect from time to time for the benefit of the Company's senior executive officers.
Pension and Welfare Benefits. Medifast will provide the Executive, during the Employment Period, with pension and welfare benefits (within the meaning of Section 3 of the Employee Retirement Income Security Act of 1974, as amended ("ERISA")) in the aggregate not less favorable than those received by other employees of Medifast.
Pension and Welfare Benefits. During the Term, unless otherwise specified herein, the Executive and his surviving spouse will participate in all pension and welfare plans (other than provisions in individual contracts that might be deemed plans), programs and benefits at the highest levels that are from time to time applicable to senior executives of the Company (including, without limitation, each retirement plan, supplemental and excess retirement plan, individual supplemental excess retirement arrangement (“ISERA”), group life insurance, accident and death insurance, medical and dental insurance, sick leave and disability plan and any plan or program providing fringe benefits or perquisites). In addition, for as long as he and his surviving spouse live, the Executive and his surviving spouse will be entitled to participate in (together with their eligible dependents), and the Company will pay for, such health and welfare benefits (including, without limitation, medical and dental, disability and life insurance and other similar benefit plans) presently in effect or hereafter adopted at the highest levels that are from time to time applicable to the highest paid group of senior executives of the Company (the “Continuing Health and Welfare Benefits”); provided that the Company shall not be required to continue to provide the benefits under this Section 5 if such benefits are provided to Executive by another employer.
Pension and Welfare Benefits. During the Term, the Executive ---------------------------- shall be eligible to participate fully in all health benefits, insurance programs, pension and retirement plans and other employee benefit and compensation arrangements available to senior officers of the Company generally. In addition, the Company shall reimburse the Executive for all out-of-pocket costs incurred and paid by the Executive relating to the health care of the Executive and his dependents that are not covered by the health benefit plans or arrangements of the Company or its subsidiaries through the later of the Date of Termination or the seventh anniversary of the Effective Date.
Pension and Welfare Benefits. During the Employment Period and except as otherwise specifically provided to the contrary in this Agreement, Executive shall be provided with pension, welfare and fringe benefits to the same extent and on the same terms as those benefits are provided by the Company from time to time to the Company's other senior management employees. Notwithstanding the foregoing, such Company pension, welfare and fringe benefit plans may be amended or terminated at any time in accordance with the term of such plans. During the Employment Period, Executive shall be provided vacation and sick leave in accordance with Company policy.
Pension and Welfare Benefits. During the Term, the Employee shall be eligible to participate in the pension and retirement plans (the "Pension Plans") provided to other senior executive officers of the Company or Scotts (including, without limitation, Scotts' Pension Plan and Scotts' Excess Benefit Plan), and participate fully in all health benefits, insurance programs and other similar employee welfare benefit arrangements available to other senior executive officers of the Company or Scotts and shall be provided benefits under such plans and arrangements substantially equivalent (in the aggregate) to the benefits provided to other senior executive officers of the Company or Scotts and on substantially similar terms and conditions as such benefits are provided to other senior executive officers of the Company or Scotts. All service with the Company accrued by the Employee during his employment therewith shall be preserved and maintained for eligibility and vesting purposes under the Pension Plans that are maintained by Scotts. This Section 6(c) is not intended to provide the Employee with a duplication of benefits.
Pension and Welfare Benefits. Buyer agrees that for a period of one year following the Closing, Buyer shall provide Transferred Employees with pension and welfare benefits under the Employee Plans, or, if Buyer terminates or amends such Employee Plans within such one-year period, with pension and welfare benefits that are substantially comparable in the aggregate to those provided to the Transferred Employees under the Employee Plans as in effect immediately prior to the Closing. Buyer presently intends to convert participants in the Employee Plans to the Buyer's employee benefit plans within one year of Closing. In the event that any Employee Plan that is a qualified pension benefit plan is terminated by Buyer after the Closing, the participants' account balances that are accrued under such Employee Plans shall, to the extent allowable by law, be merged into or otherwise transferred to a plan or plans maintained by Buyer (or its Affiliates) in which such participants (assuming such participants are active participants in the Employee Plans at such time) may participate. Buyer agrees that the Transferred Employees shall retain their service credit for all periods of employment with RP or any of the Members of the RP Group (or their predecessor entities) under the Employee Plans prior to the Closing Date, except to the extent it would result in duplicate benefits with respect to the same period of service. To the extent covered under any Buyer welfare benefit plan, Buyer agrees to cause all applicable welfare benefit plans of Buyer to waive any preexisting condition, limitation, exclusion or waiting period for the Transferred Employees and their dependents, to the extent that such preexisting conditions, limitations, exclusions or waiting periods were satisfied, covered, or waived under similar Employee Plans.
