Post-Closing Benefit Plans Clause Samples
Post-Closing Benefit Plans. Effective as of the date of Closing, Purchaser will become a successor employer to the medical and dental plan, that is part of the Fort Wayne Pools, Inc. Health & Welfare Plan, provided that Seller’s reinsurance contract with Trustmark Insurance Company is assigned or transferred to Purchaser. If the Purchaser becomes a successor employer to ▇▇▇▇ medical and dental plan, it will assume the continuation health (COBRA) responsibilities of the Seller. If Seller's medical and dental plan cannot be continued for the reason stated above, Continuing Employees will receive credit, for purposes of deductibles and co-payments under Purchaser's medical plan, for amounts paid or payable by reason of claims incurred under Seller's plan during the calendar year in which the Closing occurs. Seller shall retain responsibility for all costs of coverage and all amounts payable by reason of claims incurred on or prior to the Closing Date not otherwise accrued and accounted for in the Closing Working Capital Statement. Effective as of the date of Closing, Purchaser shall become a successor employer to the Fort Wayne Pools, Inc. Section 125 plan, including the healthcare and dependent care reimbursement benefits. If any benefit plan is not continued by the Purchaser, the Continuing Employees will be eligible for co▇▇▇▇▇e under the employee benefit plans then made available to similarly situated employees of Purchaser, subject to the terms and conditions of such benefit plans, effective as of the date of Closing or the day after the Closing Date. Nothing herein shall prevent Purchaser from terminating the employment of any such employee or modifying or terminating any such plans.
Post-Closing Benefit Plans. Effective as of the Closing, RP shall offer the Pool Tech Continuing Employees the right to participate in RP's medical and dental plans and any other employee benefit plans made available to similarly situated employees of RP, subject to the terms and conditions of such benefit plans. Pool Tech Continuing Employees will receive credit, for purposes of deductibles and co-payments under RP's medical plan, for amounts paid or payable by reason of claims incurred under Pool Tech's plan during the calendar year in which the Closing occurs. Pool Tech shall retain responsibility for all costs of coverage and all amounts payable by reason of claims incurred on or prior to the Closing Date. Nothing herein shall prevent RP from terminating the employment of any such employee or modifying or terminating any such plans.
Post-Closing Benefit Plans. (i) Purchaser will use its best efforts to cause to be provided as soon as practical after the Closing Date the employee benefit plans then made available to similarly situated employees of Purchaser, subject to the terms and conditions of such benefit plans. Nothing herein shall prevent Purchaser from terminating the employment of any such employee or modifying or terminating such plans. Continuing Employees will receive credit for purposes of deductibles and co-payments under Purchaser’s medical plan for amounts paid or payable by reason of claims incurred under Seller’s comparable plan during the calendar year in which the Closing Date occurs.