Terms of Offer. Each Transferred Employee shall be eligible to receive employee benefits comparable to those available to other similarly situated employees of Purchaser, as in effect from time to time; provided, however, that if the group health, dental or other benefits provided to one or more Transferred Employees by Seller continue through the last day of the month in which the Closing Date shall occur, such applicable benefits to be provided by Purchaser shall not be required to become effective until the first day of the month following the month in which the Closing Date shall occur.
Appears in 5 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement (First Bancorp /Nc/), Purchase and Assumption Agreement (First Bancorp /Nc/)
