Common use of Provision of Benefits Clause in Contracts

Provision of Benefits. Any Company Plan other than plans maintained for the benefit of Company Employees located in Belgium and Malaysia shall terminate no later than as of the Closing Date. Except as specifically provided in this Article V, MEI shall be responsible for (x) all liabilities and obligations under the Company Plans terminated pursuant to the preceding sentence (other than Liabilities that are accrued on the Company Financial Statements), (y) the $1,009,672.60 amount with respect to potential bonuses that is listed at Schedule 2.4, and (z) all liabilities and obligations under any Plan that is not a Company Plan. As of the Closing Date or as soon as practicable thereafter, the Company shall establish for the benefit of its employees and employees of the Transferred Subsidiaries on and after the Closing Date such Employee Benefit Plans as are reasonably deemed appropriate by the president of the Company and the Investor. The Company agrees, for all purposes under all Employee Benefit Plans applicable to employees of the Company and the Transferred Subsidiaries to treat all service by Company Employees with MEI or any of its Affiliates before the Closing as service with the Company and the Transferred Subsidiaries, except to the extent such treatment would result in duplication of benefits.

Provision of Benefits. Any Company Plan other than plans maintained for the benefit of Company Employees located in Belgium and Malaysia shall terminate no later than as of the Closing Date. Except as specifically provided in this Article V, MEI shall be responsible for (x) all liabilities and obligations under the Company Plans terminated pursuant to the preceding sentence sentence, (other than Liabilities that are accrued on the Company Financial Statements), (y) the $1,009,672.60 amount with respect to potential bonuses that is listed at Schedule 2.4, and (z) all liabilities and obligations under any Plan that is not a Company Plan. As of the Closing Date or as soon as practicable thereafter, the Company shall establish for the benefit of its employees and employees of the Transferred Subsidiaries on and after the Closing Date such Employee Benefit Plans as are reasonably deemed appropriate by the president of the Company and the Investor. The Company agrees, for all purposes under all Employee Benefit Plans applicable to employees of the Company and the Transferred Subsidiaries to treat all service by Company Employees with MEI or any of its Affiliates before the Closing as service with the Company and the Transferred Subsidiaries, except to the extent such treatment would result in duplication of benefits.