Establishment of Company Plans Sample Clauses

Establishment of Company Plans. Except as otherwise set forth herein, or except as otherwise agreed upon by the Parties, effective as of the applicable Plan Transition Date, the Parties shall cause the Company to cease being a Participating Company in the Pfizer Plans and the Company, or another member of the Company Group, shall adopt the Company Health and Welfare Plans, the Company Savings Plan, the Company Fringe Benefits, the Company Life Insurance Plan, the Company Long-Term Disability Plan, the Company Short-Term Disability Plan, the Company Nonqualified Plans and such other Company Plans as may be determined to be appropriate by the Parties, which Plans shall generally correspond to the Pfizer Plans in which the Company Employees participated immediately prior to the Plan Transition Date; provided, however, that the Company shall not be required to adopt any defined benefit pension plan, retirement medical plan or nonqualified plans except to the extent required by Law or any collective bargaining agreement.
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Establishment of Company Plans. Except as otherwise set forth herein, effective as of the IPO, the Parties shall cause the Company to cease being a Participating Company in the HC Plans and the Company, or another member of the Company Group, shall adopt the Company Plans, which Plans shall generally correspond to the HC Plans, including, but not limited to, the Lehigh Xxxxxx Health and Welfare Plans, the Lehigh Xxxxxx Defined Contribution Plans, the Canadian Pension Plans, the HC Nonqualified Plans, the Lehigh Xxxxxx Fringe Benefits, the HC Life Insurance Plans, the XX Xxxx-Term Disability Plan, the Lehigh Xxxxxx Severance Plan and such other HC Plans as the Company Employees participated in immediately prior to the IPO; provided, however, that the Company shall not be required to adopt any defined benefit pension plan or retirement medical plan except to the extent required by Law or any collective bargaining agreement, or as otherwise set forth herein.
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Related to Establishment of Company Plans

  • Company Plans Section 1.10(a),.................... 5 Company..........................................................................

  • Employee Plans Except as provided in Section 4.12, the Assuming Institution shall have no liabilities, obligations or responsibilities under the Failed Bank's health care, bonus, vacation, pension, profit sharing, deferred compensation, 401K or stock purchase plans or similar plans, if any, unless the Receiver and the Assuming Institution agree otherwise subsequent to the date of this Agreement.

  • Company Benefit Plans (a) Section 4.13(a) of the Company Disclosure Letter sets forth a complete list, as of the date hereof, of each material Company Benefit Plan. For purposes of this Agreement, a “

  • Benefit Plans The Executive shall be entitled to participate in any benefit plans relating to stock options, stock purchases, awards, pension, thrift, profit sharing, life insurance, medical coverage, education, or other retirement or employee benefits available to other senior executive employees of the Company, subject to any restrictions (including waiting periods) specified in such plans.

  • Benefit Plans and Programs To the extent permitted by applicable law and subject to the terms and eligibility requirements of any such plan or program, Executive will be eligible to participate in all benefit plans and programs, including improvements or modifications of the same, that are maintained by the Company generally for executive employees of the Company, subject to the eligibility requirements and other terms and conditions of those plans and programs. The Company will not, however, by reason of this Section 5(b) be obligated either (1) to institute, maintain, or refrain from changing, amending, or discontinuing any such benefit plan or program, or (2) to provide Executive with all benefits provided to any other person or individual employed by the Company or any of its affiliates.

  • Employee Benefit Plans and Employee Matters (a) Schedule 2.12(a) of the Company Disclosure Letter lists, with respect to the Company and (i) all “employee benefit plans” within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), (ii) all material stock option, stock purchase, phantom stock, stock appreciation right, restricted stock unit, supplemental retirement, severance, sabbatical, medical, dental, vision care, disability, employee relocation, cafeteria benefit (Section 125 of the Code), dependent care (Section 129 of the Code), life insurance or accident insurance plans, programs or arrangements, (iii) all material bonus, pension, profit sharing, savings, severance, retirement, deferred compensation or incentive plans (including cash incentive plans), programs or arrangements, (iv) all other material fringe or employee benefit plans, programs or arrangements and (v) all material employment, individual consulting, retention, change of control or executive compensation or severance agreements, written or otherwise, as to which any unsatisfied obligations of the Company remain for the benefit of any present or former employee, consultant or non-employee director of the Company, other than any such plan, program, or other arrangement mandated and maintained by a Governmental Entity (all of the foregoing described in clauses (i) through (v), collectively, the “Company Employee Plans”). Notwithstanding the foregoing, for purposes of the other representations in this Section 2.12, all references to Company Employee Plan shall include arrangements that would be listed in this Section 2.12(a) but for the “material” qualifiers in (ii), (iii), (iv), and (v), and shall include plans that are mandated by a Governmental Entity, but sponsored or contributed to by the Company or any Subsidiary thereof.

  • Benefit Plan If an employee maintains coverage for benefit plans while on maternity or parental leave, the Employer agrees to pay the Employer's share of these premiums.

  • Employee Matters; Benefit Plans (a) Except as required by applicable Legal Requirements, the employment of each of the Acquired Corporations’ employees is terminable by the applicable Acquired Corporation at will.

  • Benefit Plans; ERISA (a) Section 2.09(a) of the Disclosure Schedule contains a true and complete list and description of each of the Benefit Plans and identifies each of the Benefit Plans that is a Qualified Plan and relates to Employees.

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