Welfare and Fringe Benefit Plans. Following the Closing Date and through December 31, 1998, Buyer shall provide Transferred Employees with life insurance, medical coverage, and other employee welfare benefit plans, programs, policies or arrangements, other than stock-based plans relating to equity securities (or their equivalent, such as phantom stock plans or SARs) or (except as provided in the next sentence) any incentive bonus programs based on the achievement of financial targets, on a basis comparable in the aggregate to those provided Transferred Employees prior to the Closing Date. Buyer will provide or establish a cash incentive bonus program(s) based on the achievement of financial targets to those Transferred Employees who currently are eligible for cash incentive bonus program(s) of Seller based on the achievement of financial targets, which cash incentive program(s) of Buyer shall be comparable in the aggregate to such cash incentive bonus program(s) of Seller.
Welfare and Fringe Benefit Plans. During his employment with the Company, the Executive shall be eligible to participate in the Company's welfare and fringe benefit plans pursuant to the Company's plans and policies as in effect for active Key Employees from time to time. The Company reserves the right to amend or terminate any of its welfare and fringe benefit plans and policies (including but not limited to coverages and premium structures) at any time.
Welfare and Fringe Benefit Plans. (a) Buyer shall provide, or cause its Affiliates to provide, the Transitioned Employees, during their employment by Buyer or its Affiliates, and their eligible dependents and beneficiaries, Welfare Benefits under any plans, programs, policies or arrangements established or maintained by Buyer for such persons ("Buyer's Welfare Plans") for claims incurred after the Closing Date, subject to the terms of Buyer's Welfare Plans maintained in accordance with Section 6.2(a).
Welfare and Fringe Benefit Plans. Buyer shall grant to each New Employee credit for his service with Seller prior to the Effective Date (based on information provided to Buyer by Seller) under Buyer's Welfare Benefit Plans and shall grant credit for deductibles and co-payments previously paid. Buyer's Welfare Benefit Plans shall not exclude from coverage any pre-existing condition of any of the New Employees. Except with respect to benefits provided under the Transitional Services Agreement during the term thereof, Buyer shall grant immediate eligibility for participation in all Buyer's Welfare Benefit Plans to all New Employees. Any valid claims of any New Employee made against a Buyer's Welfare Benefit Plan incurred prior to the Effective Date shall be satisfied by Seller under Seller's Welfare Benefit Plans, and, to the extent not paid from such employee's contributions, reimbursed by Buyer. Any claims for hospitalization or other confinement charges with respect to any hospitalization or other confinement of a New Employee or eligible dependent that commences prior to the Effective Date in accordance with the terms and provisions of Seller's plans and policies shall be satisfied by Seller under Seller's Welfare Benefit Plans, and, to the extent not paid from such employee's contributions, reimbursed by Buyer. Buyer shall be responsible for payment of all benefits payable to the New Employees incurred on or after the Effective Date, whether pursuant to the Transitional Services Agreement or otherwise. For purposes of this Section 11.2.5, an expense shall be deemed incurred when the Welfare Benefit Plans service relating to the expense is provided (regardless of when the incident giving rise to the expense occurs).
Welfare and Fringe Benefit Plans. (a) Effective as of the Closing Date, Buyer shall assume, with respect to the Transferred Employees and their dependents and beneficiaries Seller's medical benefit plan described on Schedule 4.1.22(a) (the "Medical Benefit Plan"). In addition, Buyer shall provide the Transferred Employees and their dependents and beneficiaries coverage commencing on the Closing Date under group life, short-term disability and long-term disability plans established by Buyer for such Persons who for all purposes of this Section will be credited with all service with Seller or its Affiliates, provided that, from and after the Closing Date, Seller shall remain responsible for any and all Benefit Liabilities to or in respect of the Employees or their beneficiaries or dependents relating to or arising in connection with any claims for life, disability, accidental death or dismemberment, supplemental unemployment compensation, medical, dental, hospitalization, other health or other welfare or fringe benefits or expense reimbursements, to the extent such claims relate to or are based upon medical, dental, hospitalization or health services provided prior to the Closing Date and are not included in Net Working Capital or in connection with the requirements of Section 4980B of the Code to provide continuation of health care coverage under any Employee Benefit Plan in respect of Employees to the extent such Benefit Liabilities relate to terminations of employment occurring on or prior to the Closing Date. With respect to any Employee Benefit Plan that is subject to Section 125 of the Code, Seller shall transfer assets equal to the aggregate account balances of all Transferred Employees, as of the Closing Date, to Buyer or shall take other action mutually agreed to by Buyer and Seller to avoid the loss by Transferred Employees of any part of such balances.
Welfare and Fringe Benefit Plans. During the period commencing on the Closing Date and ending on the earlier five-year anniversary of the Closing Date and the date RFS is permitted to terminate RFS Provided Services under the terms of the Support Services Agreement, the Buyer (at RTC's cost) shall permit the employees of RTC and its Subsidiaries and their re- spective dependents and beneficiaries to participate in any medical, life insurance, disability and other welfare plan, programs or arrangements under the Company Plans or any other such plan, program or arrangement implemented by the Buyer af- ter the Closing for the benefit of employees of the Company and its Subsidiaries, such participation to be on such terms and conditions as applicable to employees of the Company and their dependents and beneficiaries. With respect to any welfare benefit plans (as defined in section 3(1) of ERISA) maintained by the Buyer for the ben- efit of employees of the Company, RTC or their respective Sub- sidiaries, the Buyer shall (i) cause there to be waived any pre-existing condition limitations (to the extent that similar limitations would not have applied prior to the Closing) and (ii) give effect, in determining any deductible and maximum out-of-pocket limitations, to claims incurred and amounts paid by, and amounts reimbursed to, such employees with respect to the Company Plans for their benefit immediately prior to the Closing Date.
Welfare and Fringe Benefit Plans. 47 11.3. Workers' Compensation...............................................................47 11.4.
Welfare and Fringe Benefit Plans. (a) From and after the Closing Date, Neptune shall remain solely responsible for any and all Benefit Liabilities to or in respect of the Transferred Employees or their beneficiaries or dependents relating to or arising in connection with any claims, whether such claims are asserted before, on or after the Closing Date, for life, disability, accidental death or dismemberment, supplemental unemployment compensation, medical, dental, hospitalization, other health or other welfare or fringe benefits or expense reimbursements which claims relate to or are based upon an occurrence on or before the Closing Date (including claims for continuing treatment in respect of any illness, accident, disability, condition or confinement which occurs or commences on or before the Closing Date).
Welfare and Fringe Benefit Plans. (a) Buyer shall provide the Transferred Employees and their dependents and beneficiaries coverage under any welfare and fringe benefit plans, programs, policies or arrangements established by Buyer for such Persons, within Buyer’s discretion. Effective as of the Closing Date, Buyer shall establish group medical, dental, life insurance, short term disability insurance, long term disability insurance and accidental death and dismemberment insurance plans which are comparable to those plans of Seller in effect immediately prior to the Closing Date.
Welfare and Fringe Benefit Plans. (a) The US Buyer shall provide the Transferred Employees of Granutec and their dependents and beneficiaries coverage under any welfare and fringe benefit plans, programs, policies or arrangements established by the US Buyer for such Persons.
