<PAGE>
District Court for the Southern District of Texas, Houston
Division, upon application of Seller or of Buyer, shall appoint
an arbitrator to fill such position with the same force and
effect as though such arbitrator had been appointed as
hereinabove contemplated.
(ii) The arbitration proceeding shall be conducted in Houston, Texas,
in accordance with the Rules of the American Arbitration
Association. A determination, award or other action shall be
considered the valid action of the arbitrators if supported by
the affirmative vote of two or three of the three arbitrators.
The costs of arbitration (exclusive of attending the arbitration,
and of the fees and expenses of legal counsel to such party, all
of which shall be borne by such party) shall be shared equally by
Buyers and Seller. The arbitration award shall be final and
conclusive and shall receive recognition, and judgment upon such
award may be entered and enforced in any court of competent
jurisdiction.
ARTICLE 10. EMPLOYMENT MATTERS
10.1 Employment. The full-time and part-time employees of Seller and its
subsidiaries, whether currently employed, or employed between the date hereof
and the Closing Date, are collectively referred to as the "CIMARRON EMPLOYEES".
As soon as reasonably practicable after the date of this Agreement, each Buyer
shall furnish Seller with a list of the names of each of the Cimarron Employees
to whom Buyer reasonably expect to extend offers of employment on the Closing
Date ("CONTINUING EMPLOYEES").
10.2 Buyers' Responsibility for Cimarron Employees' Retirement and Other
Benefits.
(i) Buyers will cause to be provided pension, medical, 401(k) plan and
other benefits to all Continuing Employees from and after the
Closing Date to the same extent provided to similarly situated
employees of Buyers.
(ii) Seller will retain responsibility for and continue to pay all
medical, life insurance, disability and other welfare plan
expenses and benefits for each Cimarron Employee with respect to
claims incurred by such employees or their covered dependents
under any benefit plan and subject to the terms thereof prior to
the Closing Date. Expenses and benefits with respect to claims
incurred by Continuing Employees or their covered dependents on or
after the Closing Date shall be the responsibility of Buyers, in
accordance with the Buyers' plans. For purposes of this paragraph,
a claim is deemed incurred when, in accordance with a Buyer's
plans, the services that are the subject of the claim are
performed; provided, however, that in the case of life insurance,
a claim is deemed incurred when the death occurs and in the case
of long-term disability benefits, when the disability occurs. With
respect to each Cimarron Employee who is not a Continuing Employee
or such employee's dependent, the Seller shall be
31
|