Common use of Severance Plan Clause in Contracts

Severance Plan. The Buyer shall maintain the Management -------------- Transition Plan for a period of eighteen (18) months following the Closing Date and shall give all Management Employees service credit for purposes of determining the level of benefits thereunder in the same manner as set forth in Section 7.11(d) hereof. Each of the Buyer and the Seller shall be responsible for 50% of any payments required under the Management Transition Plan for any Management Employee terminated without Cause (as defined in the Management Transition Plan) within eighteen (18) months following the Closing Date.

Severance Plan. The Buyer shall maintain the Management -------------- Transition Plan for a period of eighteen (18) months following the Closing Date and shall give all Management Employees service credit for purposes of determining the level of benefits thereunder in the same manner as set forth in Section 7.11(d7.10(d) hereof. Each of the Buyer and the Seller shall be responsible for 50% of any payments required under the Management Transition Plan for any Management Employee terminated without Cause (as defined in the Management Transition Plan) within eighteen (18) months following the Closing Date.

Severance Plan. The Buyer shall maintain the Management -------------- Transition Plan for a period of eighteen (18) months following the Closing Date and shall give all Management Employees service credit for purposes of determining the level of benefits thereunder in the same manner as set forth in Section 7.11(d7.10(d) hereof. Each of the Buyer and the Seller shall be responsible for 50% of any payments required under the Management Transition Plan for any Management Employee terminated without Cause (as defined in the Management Transition Plan) within eighteen (18) months following the Closing Date.