Employee Plan Termination. Prior to the Closing Date, the Company shall take all actions that may be necessary or appropriate to terminate as of the Closing Date: (i) each Employee Plan set forth in Section 7.03(f) of the Company Disclosure Schedule and (ii) if requested by Parent not later than five (5) Business Days prior to the Closing Date, any Employee Plan that the Company is authorized to unilaterally terminate without the consent of any third party and without payment of any termination fees. All resolutions, notices, participant communications or other documents issued, adopted or executed in connection with the termination of such Employee Plans shall be subject to Parent’s reasonable opportunity to review and comment.
Employee Plan Termination. Effective as of the day immediately preceding the Closing Date, the Company shall, and the Sellers shall cause the Company to, terminate the Equity Incentive Plan. No later than five (5) Business Days prior to the Closing Date, the Company and the Sellers shall provide Purchaser with evidence that such Equity Incentive Plan has been properly amended and terminated (effective no later than the day immediately prior to the Closing Date). The Company shall, and the Sellers shall cause the Company to, take such further actions in furtherance of terminating the Equity Incentive Plan as Purchaser may reasonably require. In the event that termination of any Plan would trigger liquidation charges, surrender charges, or Exh. 2.1-43 other fees, then the Company and the Sellers shall take such actions as are necessary to reasonably estimate the amount of such charges or fees and provide such estimate in writing to Purchaser no later than ten (10) Business Days prior to the Closing Date.
Employee Plan Termination. Promptly following receipt of a written request from SWB, Bancshares and the Bank shall take all action necessary on the Business Day immediately preceding the Closing Date, to terminate the “First Commercial Bank 401(k) Plan” causing each participant’s accounts thereunder to be fully vested.
Employee Plan Termination. Except as disclosed in SECTION 3.16(d) of the Disclosure Schedule, since September 10, 2001, no Employee Plan, if subject to Title IV of ERISA, has been completely or partially terminated, nor has any event occurred nor does any circumstance exist that presents a material risk of partial termination of such Employee Plan. The PBGC has not instituted or threatened a Proceeding to terminate or to appoint a trustee to administer any of the Employee Plans pursuant to Subtitle 1 of Title IV of ERISA, and no condition or set of circumstances exists that presents a material risk of termination or partial termination of any of the Employee Plans by the PBGC. None of the Employee Plans has been the subject of, and no event has occurred or condition exists that could be deemed, a reportable event (as defined in Section 4043 of ERISA) as to which a notice would be required (without regard to regulatory monetary thresholds) to be filed with the PBGC. Company has paid in full all insurance premiums due to the PBGC with regard to the Employee Plans for all applicable periods ending on or before the Closing Date.
Employee Plan Termination. Promptly following receipt of a written request from Arvest, Bear State and the Bank shall take all action necessary on the Business Day immediately preceding the Closing Date, (a) to terminate the 401(k) Plan sponsored by Bear State and/or the Bank causing each participant’s accounts thereunder to be fully vested; and (b) to terminate any other employee benefit plan as requested by Arvest.
Employee Plan Termination. Prior to the Closing Date, subject to Section 7.04(j) and except to the extent precluded by the terms of any Employee Plan, an applicable Collective Bargaining Agreement or by Applicable Law, the Company shall take all actions that may be necessary or appropriate to cause each Employee Plan that, not later than thirty calendar days prior to the Closing Date, Parent requests that the Company terminate in accordance with the terms of such plan. All resolutions, notices, participant communications or other documents issued, adopted or executed in connection with the termination of such Employee Plans shall be subject to Parent’s prior review and approval.
Employee Plan Termination. An employee may elect to terminate his/her participation in the Flex Schedule Plan after giving two (2) weeks written notice to his/her supervisor. An employee who terminates participation in the Flex Schedule Plan will return to their prior regular work schedule. Reversion to a former work schedule must occur after the completion of a two (2) week plan cycle. Employees who become ineligible to participate in a Flex Schedule Plan work schedule under this provision may be permitted to resume participation if they are not again docked in pay, as a result of an unapproved leave of absence, for six (6) consecutive months.
Employee Plan Termination
