Company Employee Benefits. Company 401(k) Plan.
Company Employee Benefits. With respect to those employees of the ------------------------- Company who continue their employment with the Company after the Closing Date or are hired by the Buyer or an Affiliate of Buyer within the six (6) month period following the Closing Date, Buyer shall, or shall cause the Company or the Buyer's Affiliates to, take all action necessary to cause all such employees to be covered under the employee benefit plans and fringe benefit arrangements of the Company, Buyer or Buyer's Affiliates, as the case may be, on the same basis as those provided to employees of Buyer or its Affiliates who hold comparable positions, as determined by Buyer in its discretion; and further provided that Buyer's or its Affiliates' health plans shall not impose any preexisting condition or waiting period requirement on any such employee's participation in such health plan with respect to conditions currently permitted to be covered thereunder if such employee enrolls within thirty (30) days of beginning employment with Buyer or Buyer's Affiliate. Buyer or Buyer's Affiliate shall grant all such employees credit for purposes of eligibility and vesting under Buyer's or its Affiliate's employee benefit plans (including vacation and severance) for their service with the Company prior to the Closing Date. If Buyer or its Affiliates give credit under their employee vacation plans for oil and gas industry experience, such employees shall be given credit for their years of industry experience prior to the Closing Date for vacation plan purposes rather than for their years of service with the Company prior to the Closing Date.
Company Employee Benefits. Following the Resignation Date, and except as provided in this Agreement, the Executive shall be entitled to vested employee benefits under the Company’s employee benefit plans to which the Executive is entitled as a former employee, including any referenced in the Employment Agreement and/or Employee Handbook; provided, that for the avoidance of doubt, the benefits set forth in Section 2 of this Agreement are in lieu of, and not in addition to, any severance or resignation or termination benefits payable under the Employment Agreement and under any severance plan, policy, agreement or arrangement sponsored or maintained by the Company or of its affiliates. The Company also agrees, within fourteen (14) days of the Resignation Date, or if not practicable within such period, as soon as reasonably practicable thereafter, to take the steps necessary to transfer to the Executive the Executive’s employee pension account managed by FMi and including all contributions made through the Resignation Date.
Company Employee Benefits. Following the Termination Date, the Executive shall be entitled to receive any accrued and unpaid benefits under the Company’s employee benefit plans to which the Executive is entitled as of the Termination Date; provided, that for the avoidance of doubt, the benefits set forth in Section 2 hereof are in lieu of, and not in addition to, any severance or termination benefits payable under any severance plan, policy, agreement or arrangement sponsored or maintained by the Company or its affiliates.
Company Employee Benefits. 44 ARTICLE VIII
Company Employee Benefits. Parent and the Company agree that, for a period of two years following the Effective Time, the Company's U.S. employees who remain employed in the U.S. by the Surviving Corporation following the Effective Time shall not have their aggregate levels of employee benefits (other than bonus plans and equity compensation plans and arrangements) materially diminished, except as part of an overall reduction in employee benefit levels by Parent and its subsidiaries. The Surviving Corporation will terminate the Company's existing bonus plan at March 31, 1999 and will implement a new bonus plan.
Company Employee Benefits. (a) Buyer shall, or shall cause the Designated Purchaser to, offer employment, commencing on the Closing Date, to only those US Employees who are actively employed by the Company in the Business on the day immediately preceding the Closing Date and which are set forth on Section 1.1(ii) of the Company Disclosure Schedule (the “Closing Date US Employees”), at a wage and salary level that is the same as that provided to such employees of the Company on the day preceding the Closing Date. With respect to the Liabilities relating to the Closing Date US Employees who accept the offer of employment described above (the “Transferred US Employees”) and arising out of the Company Plans, Buyer shall, as of the Closing Date, assume only those Liabilities described in Sections 2.3(a)(i) or (ii) of this Agreement and that are directly related to such Transferred US Employees’ employment with the Business. In addition to the foregoing, Buyer shall reimburse the Company for all Severance Costs (as such term is hereinafter defined) incurred by the Company in a lump sum within thirty (30) days after Buyer receives from the Company an invoice stating the name of each Closing Date US Employee whose employment with the Company was terminated, his or her years of service with the Company through such date of termination, his or her annual rate of base salary as in effect immediately prior to the Closing Date, and the total amount of severance paid or payable to such employee by the Company. For purposes of this Agreement, the term “
Company Employee Benefits. 40 SECTION 5.14. Certain Payment of Deferred Compensation and Bonuses........40 SECTION 5.15. Stock Options...............................................40 SECTION 5.16. SEC Filings.................................................40 SECTION 5.17. Guarantee of Performance....................................40
Company Employee Benefits. Through December 31, 1998, the employees of the Company shall continue to receive employee benefits substantially comparable in the aggregate to those provided for under Company Benefit Plans (other than the plans being terminated as set forth on Scedule 5.14 of the Company Disclosure Schedule) provided by the Company on the date prior to the Effective Time.
Company Employee Benefits. 46 SECTION 4.19. CANADIAN TAX RULING . . . . . . . . . . . . . . . . 46 SECTION 4.20. FORMATION OF NEWCO . . . . . . . . . . . . . . . . . 47
