Buyer 401(k) Plan Sample Clauses

Buyer 401(k) Plan. To the extent permitted by applicable law and subject to Buyer’s and Seller’s reasonable satisfaction that the Reuters 401(k) Plan and Buyer’s 401(k) Plan, respectively, meet the requirements for qualification under Section 401(a) of the Code, (i) Seller shall permit each In-Scope Employee to effect, and Buyer agrees to cause Buyer’s 401(k) Plan to accept, a “direct rollover” (within the meaning of Section 401(a)(31) of the Code) of his or her account balances under the Reuters 401(k) Plan if such rollover is elected in accordance with applicable law and the terms of the Reuters 401(k) Plan by such In-Scope Employee and (ii) Seller shall permit each In-Scope Employee to roll over any loan balance outstanding under the Reuters 401(k) Plan as of the date of such direct rollover and Buyer agrees to accept and administer each such outstanding loan balance under Buyer’s 401(k)
Sample 1
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Buyer 401(k) Plan. Buyer shall, or shall cause one of its Affiliates to, continue to maintain the Tock, Inc. 401(k) Plan (the “Company 401(k) Plan”) through December 31, 2021. Effective as of January 1, 2022, Buyer shall, or shall cause one of its Affiliates to, maintain or establish, a defined contribution plan that is intended to be tax-qualified (the “Buyer 401(k) Plan”) and in which the Continuing Employees shall be eligible to participate as of January 1, 2022, subject to satisfaction of eligibility provisions and after taking into account Section 0.
Sample 1
Buyer 401(k) Plan. Subject to the delivery to Buyer of a currently effective IRS determination letter with respect to the 401(k) Plan, and to the extent necessary under the Buyer 401(k) Plan (as defined below) and Applicable Law, Buyer shall adopt (or shall cause there to be adopted), effective as of the Closing Date, resolutions amending (or directing the appropriate officers of Buyer to amend) Buyer’s employee pension benefit plan intended to be qualified under Section 401(a) of the Code that includes a cash or deferred arrangement intended to qualify under Section 401(k) of the Code (the “Buyer 401(k) Plan”) so as to permit such Buyer 401(k) Plan to accept rollover contributions attributable to the termination of the 401(k) Plan contemplated by Section 7.10 of this Agreement, including any promissory notes presently representing outstanding participant loans under such 401(k) Plan.
Sample 1
Buyer 401(k) Plan. Buyer agrees to cause Buyer’s 401(k) plan to accept a “direct rollover” of the account balances of all Transferred Employees from any Seller’s 401(k) plan if such rollover is elected in accordance with the terms of such Seller’s 401(k) plan and applicable Law by such Transferred Employees.
Sample 1
Buyer 401(k) Plan. Buyer will, or will cause the applicable employer of the employees of the Company as of the Closing Date (the “Affected Employees”) to, provide to the Affected Employees credit for all service with the Company for purposes of eligibility and vesting under the 401(k) Plan maintained by Buyer, except to the extent that it would result in a duplication of benefits with respect to the same period of service. As permitted by applicable Law, the Affected Employees will be permitted to timely transfer to the 401(k) Plan maintained by Buyer their account balances with and their personal loans from the 401(k) Plan maintained by the Company and any applicable thirty (30) day wait period required by the 401(k) plan maintained by Buyer shall be waived. Nothing contained herein shall be construed as requiring Buyer or the Company to continue any specific Employee Benefit Plan, or requires Buyer or the Company to continue the employment of any specific person after the Closing.
Sample 1

Related to Buyer 401(k) Plan

  • 401(k) Plan Executive shall be entitled to participate in the Company’s 401K plan in accordance with its terms and conditions.

  • Third Party Administrators for Defined Contribution Plans 2.1 The Fund may decide to make available to certain of its customers, a qualified plan program (the “Program”) pursuant to which the customers (“Employers”) may adopt certain plans of deferred compensation (“Plan or Plans”) for the benefit of the individual Plan participant (the “Plan Participant”), such Plan(s) being qualified under Section 401(a) of the Code and administered by TPAs which may be plan administrators as defined in the Employee Retirement Income Security Act of 1974, as amended. 2.2 In accordance with the procedures established in Schedule 2.1 entitled “Third Party Administrator Procedures,” as may be amended by the Transfer Agent and the Fund from time to time (“Schedule 2.1”), the Transfer Agent shall: (a) Treat Shareholder accounts established by the Plans in the name of the Trustees, Plans or TPAs, as the case may be, as omnibus accounts; (b) Maintain omnibus accounts on its records in the name of the TPA or its designee as the Trustee for the benefit of the Plan; and (c) Perform all Services under Section 1 as transfer agent of the Funds and not as a record-keeper for the Plans. 2.3 Transactions identified under Sections 1 and 2 of this Agreement shall be deemed exception services (“Exception Services”) when such transactions: (a) Require the Transfer Agent to use methods and procedures other than those usually employed by the Transfer Agent to perform transfer agency and recordkeeping services; (b) Involve the provision of information to the Transfer Agent after the commencement of the nightly processing cycle of the TA2000 System; or (c) Require more manual intervention by the Transfer Agent, either in the entry of data or in the modification or amendment of reports generated by the TA2000 System, than is normally required.

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

  • Defined Contribution Plans The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined contribution plan" (as defined in Section 3(34) of ERISA), whether or not terminated.

  • Health and Welfare Benefit Plans During the Employment Period, Executive and Executive’s immediate family shall be entitled to participate in such health and welfare benefit plans as the Employer shall maintain from time to time for the benefit of senior executive officers of the Employer and their families, on the terms and subject to the conditions set forth in such plan. Nothing in this Section shall limit the Employer’s right to change or modify or terminate any benefit plan or program as it sees fit from time to time in the normal course of business so long as it does so for all senior executives of the Employer.

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Savings Plans Employee shall be entitled to participate in Employer’s 401(k) plan, or other retirement or savings plans as are made available to Employer’s other executives and officers and on the same terms which are available to Employer’s other executives and officers.

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • Health Care Savings Plan As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator. Subd. 1. All ASF Members who receive severance pay as defined in Section A of this article must participate in the health care savings plan. Subd. 2. All severance pay as defined in Section B of this article shall be transferred to the severed employee's health care savings plan account. At the time of separation, if an ASF Member has an approved exception to participation in the health care savings plan account from the plan administrator, then the ASF Member shall receive this payment in one lump sum payment of cash.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

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