Common use of 401(k) Plans Clause in Contracts

401(k) Plans. Effective as of the day immediately preceding the Effective Time, unless otherwise directed in writing by Parent at least ten (10) Business Days prior to the Effective Time, the Company shall take all actions necessary to effect the termination of any and 50 all 401(k) plans sponsored or maintained by the Company and shall provide Parent evidence that each of Company’s 401(k) plans has been terminated pursuant to an action by the Company Board.

401(k) Plans. Effective as of the day Business Day immediately preceding the Effective Time, unless otherwise directed in writing by Parent Buyer at least ten (10) Business Days prior to the Effective Time, the Company shall take all actions necessary to effect the termination of any and 50 all 401(k) plans sponsored or maintained by the Company and shall provide Parent Buyer evidence that each of Company’s 401(k) plans has been terminated pursuant to an action by the Company Board.

401(k) Plans. Effective as of the day immediately preceding the Effective Time, unless otherwise directed in writing by Parent at least ten (10) Business Days business days prior to the Effective Time, the Company shall take all actions necessary to effect the termination of any and 50 all 401(k) plans sponsored or maintained by the Company and shall provide Parent evidence that each of Company’s 401(k) plans has been terminated pursuant to an action by resolutions of the Company BoardBoard of Directors of the Company.

401(k) Plans. Effective as of the day immediately preceding the Effective Time, unless otherwise directed in writing by Parent at least ten (10) Business Days prior to the Effective Time, the Company shall take all actions necessary to effect the termination of any and 50 all 401(k) plans sponsored or maintained by the Company and shall provide Parent evidence that each of Company’s 's 401(k) plans has been terminated pursuant to an action by the Company Board.

401(k) Plans. Effective as of the day immediately preceding the Effective Time, unless otherwise directed in writing by Parent at least ten (10) Business Days prior to the Effective Time, the Company shall take all actions necessary to effect the termination of any and 50 all the Company 401(k) plans sponsored or maintained by the Company Plan and shall provide Parent evidence that each of Company’s the Company 401(k) plans Plan has been terminated pursuant to an action by the Company Board. In the event that Parent requests that the Company’s 401(k) plan be terminated, Parent shall offer participation in Parent’s tax-qualified defined contribution plan not later than 120 days following the Effective Date to each Continuing Employee.