Common use of Welfare, Pension and Incentive Benefit Plans Clause in Contracts

Welfare, Pension and Incentive Benefit Plans. During the Term, the Companies shall provide Executive with employee benefit plans and insurance programs on a basis no less favorable than as in effect with respect to Executive at Crumbs immediately prior to the Effective Date, including, without limitation, company-paid medical benefits; provided, that if the provision of such company-paid medical benefits would cause the imposition of any tax under Section 4980D of the Internal Revenue Code of 1986, as amended, and the regulations thereunder (the “Code”), the parties agree to negotiate in good faith an alternative arrangement for providing such benefits in an economically neutral manner which does not cause the imposition of such tax.

Appears in 6 contracts

Samples: Employment Agreement (57th Street General Acquisition Corp), Employment Agreement (57th Street General Acquisition Corp), Employment Agreement (57th Street General Acquisition Corp)

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Welfare, Pension and Incentive Benefit Plans. During the Term, the Companies Company shall provide Executive with employee benefit plans and insurance programs on a basis no less favorable than as in effect with respect to Executive at Crumbs the Company’s employees immediately prior to the Effective Date, including, without limitation, company-paid medical benefits; provided, that if the provision of such company-paid medical benefits would cause the imposition of any tax under Section 4980D of the Internal Revenue Code of 1986, as amended, and the regulations thereunder (the “CodeCode ”), the parties agree to negotiate in good faith an alternative arrangement for providing such benefits in an economically neutral manner which does not cause the imposition of such tax.

Appears in 2 contracts

Samples: Employment Agreement (Vapor Corp.), Employment Agreement (Vapor Corp.)

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