Employee Retirement Benefit Plans. Each Company Employee shall be eligible to participate in the Xxxxx Fargo 401(k) Plan (the “401(k) Plan”), subject to any eligibility requirements applicable to the 401(k) Plan (with full credit for years of past service to Company and the Company Subsidiaries, or to any predecessor-in-interest of Company or the Company Subsidiaries to the extent such service is currently given credit under the existing Company 401(k) plan) for the purpose of satisfying any eligibility and vesting periods applicable to the 401(k) Plan, and shall enter the 401(k) Plan no later than the Benefits Conversion Date. Each Company Employee shall be eligible to participate in the Xxxxx Fargo Cash Balance Plan (the “Cash Balance Plan”) under the terms thereof, subject to any eligibility requirements applicable to the Cash Balance Plan. Xxxxx Fargo shall not recognize a Company Employee’s past service with Company or any Company Subsidiary or any predecessor-in-interest of Company or the Company Subsidiaries for any purpose under the Cash Balance Plan. Therefore, each Company Employee shall be eligible for participation, as a new employee, in the Cash Balance Plan pursuant to the terms thereof. Each Company Employee shall be eligible for access to Xxxxx Fargo’s retiree medical benefit, subject to any eligibility requirements applicable to such benefit. Xxxxx Fargo shall recognize years of past service with Company and the Company Subsidiaries for the purpose of eligibility to access Xxxxx Fargo’s retiree medical benefit.
Employee Retirement Benefit Plans. As of the Benefits Conversion Date, each Company Employee shall be eligible to participate in the Wells Fargo 401(k) Plan (the "401(k) Xxxx") and the Wells Fargo Cash Balance Plan (the "Cxxx Xalance Plan"), subject to any eligibility requirements applicable to such plans after taking into account paragraph 8(d) hereof. As of the Benefits Conversion Date, each Company Employee shall be eligible for access to Wells Fargo's retiree medical benefit xxxxram, subject to any eligibility requirements applicable to such benefit after taking into account paragraph 8(d) hereof.
Employee Retirement Benefit Plans. Each Company Employee shall be eligible to participate in the Xxxxx Fargo 401(k) Plan (the "401(k) Plan"), subject to any eligibility requirements applicable to the 401(k) Plan (with full credit for years of past service to Company and the Company Subsidiaries for the purpose of satisfying any eligibility and vesting periods applicable to the 401(k) Plan), and shall enter the 401(k) Plan no later than the Benefits Conversion Date. Each Company Employee shall be eligible for participation, as a new employee, in the Xxxxx Fargo Cash Balance Plan pursuant to the terms thereof. Each Company Employee shall be eligible for access to Xxxxx Fargo's retiree medical benefit, subject to any eligibility requirements applicable to such benefit. Xxxxx Fargo shall recognize years of past service with Company and the Company Subsidiaries for the purpose of eligibility to access Xxxxx Fargo's retiree medical benefits.
Employee Retirement Benefit Plans. Each Company Employee shall be eligible to participate in the Xxxxx Fargo 401(k) Plan (the "401(k) Plan"), subject to any eligibility requirements applicable to the 401(k) Plan (with full credit for years of past service to Company and the Company Subsidiaries for the purpose of satisfying any eligibility and vesting periods applicable to the 401(k) Plan), and shall enter the 401(k) Plan no later than the Benefits Conversion Date. Each Company Employee shall be eligible to participate in the Xxxxx Fargo Cash Balance Plan (the "Cash Balance Plan") subject to any eligibility requirements applicable to the Cash Balance Plan. Xxxxx Fargo shall not recognize a Company Employee's past service with Company or any Company Subsidiary for any purpose under the Cash Balance Plan. Therefore, each Company Employee shall be eligible for participation, as a new employee, in the Xxxxx Fargo Cash Balance Plan pursuant to the terms thereof.
Employee Retirement Benefit Plans. Each Continued Employee shall be eligible for participation in the Wellx Xxxgo 401(k) Plan (the "401(k) Plan"), subject to any eligibility requirements applicable to the 401(k) Plan (with full credit for years of past service to Sellers to the extent such service was credited in the Sellers 401(k) for the purpose of satisfying any eligibility and vesting periods applicable to 401(k) Plan), and shall enter the 401(k) Plan as soon as administratively practical following the Closing Date. Each Continued Employee shall be eligible to participate in the Wellx Xxxgo Cash Balance Plan (the "Cash Balance Plan") subject to any eligibility requirements applicable to the Cash Balance Plan. Buyer shall not recognize a Continued Employee's past service with Sellers for any purpose under the Cash Balance Plan. Therefore, each Continued Employee shall be eligible for participation in the Cash Balance Plan as a new employee under the terms thereof.
Employee Retirement Benefit Plans. Set forth on Schedule 3.19 is a list and brief description of each employee pension benefit plan maintained by the Company, or to which the Company is obligated to contribute. The Company is in compliance in all material respects with all applicable Laws relating to employee benefit plans.
Employee Retirement Benefit Plans. Each First Place Employee shall be eligible to participate in the Xxxxx Fargo 401(k) Plan (the "401(k) Plan"), subject to any eligibility requirements applicable to the 401(k) Plan (with full credit for years of past service to First Place and the First Place Subsidiaries for the purpose of satisfying any eligibility and vesting periods applicable to the 401(k)Plan ), and shall enter the 401(k) Plan no later than the Benefits Conversion Date. Each First Place Employee shall be eligible for participation in the Xxxxx Fargo Cash Balance Plan subject to any eligibility requirements applicable to the Cash Balance Plan. Xxxxx Fargo shall recognize a First Place Employee's past service with First Place and any First Place Subsidiary for all purposes under the Cash Balance Plan. Each First Place Employee shall be eligible for access to Xxxxx Fargo's retiree medical benefit, subject to any eligibility requirements applicable to such benefit. Xxxxx Fargo shall recognize years of past service with First Place and the First Place Subsidiaries for the purpose of eligibility to access Xxxxx Fargo's retiree medical benefit.
Employee Retirement Benefit Plans. Each Prime Employee shall be eligible to participate in the Wellx Xxxgo 401(k) Plan (the "401(k) Plan"), subject to any eligibility requirements applicable to the 401(k) Plan (with full credit for years of past service to Prime and the Prime Subsidiaries for the purpose of satisfying any eligibility and vesting periods applicable to the 401(k) Plan), and shall enter the 401(k) Plan no later than the Benefits Conversion Date. Each Prime Employee shall be eligible to participate in the Wellx Xxxgo Cash Balance Plan (the "Cash Balance Plan") subject to any eligibility requirements applicable to the Cash Balance Plan. Wellx Xxxgo shall not recognize a Prime Employee's past service with Prime or any Prime Subsidiary for any purpose under the Cash Balance Plan. Therefore, each Prime Employee shall be eligible for participation, as a new employee, in the Wellx Xxxgo Cash Balance Plan pursuant to the terms thereof. Each Prime Employee shall be eligible for access to Wellx Xxxgo's retiree medical benefit, subject to any eligibility requirements applicable to such benefit. Wellx Xxxgo shall recognize years of past service with Prime and the Prime Subsidiaries for the purpose of eligibility to access Wellx Xxxgo's retiree medical benefit.
Employee Retirement Benefit Plans. Each Central Employee shall be eligible for participation in the Norwest Savings-Investment Plan (the "SIP"), subject to any eligibility requirements applicable to the SIP (with full credit for years of past service to Central and the Central Subsidiaries for the purpose of satisfying any eligibility and vesting periods applicable to the SIP, to the extent credited under the respective employee retirement benefit plans of Central and the Central Subsidiaries), and shall enter the SIP not later than the first day of the calendar quarter which begins at least 32 days after the Effective Date of the Merger. Each Central Employee shall be eligible for participation, subject to any applicable eligibility requirements (with full credit for years of past service to Central and the Central Subsidiaries, to the extent credited under the respective employee retirement benefit plans of Central and Central Subsidiaries, for the purpose of satisfying any applicable eligibility and vesting periods, but without credit for years of past service to Central and the Central Subsidiaries for purposes of benefit accruals), in the Norwest Pension Plan under the terms thereof and shall enter the Norwest Pension Plan no later than the first day of the calendar quarter which is at least 32 days after the Effective Date of the Merger.
Employee Retirement Benefit Plans. Each Victoria Employee shall be eligible for participation in the Norwest Savings-Investment Plan (the "SIP"), subject to any eligibility requirements applicable to the SIP (with full credit for years of past service to Victoria and the Victoria Subsidiaries for the purpose of satisfying any eligibility and vesting periods applicable to the SIP, to the extent credited under the respective employee 33 39 retirement benefit plans of Victoria and Victoria Subsidiaries), and shall enter the SIP not later than the first day of the calendar quarter which is at least 32 days after the Effective Time. The Victoria Profit Sharing 401(k) Plan shall be merged with the SIP following the Merger and the outstanding plan loan balances under the Victoria Profit Sharing 401(k) Plan shall be transferred over to and retained by the SIP, such that the affected Victoria Employees who have outstanding loan balances (which are not otherwise in default) under the Victoria Profit Sharing 401(k) Plan immediately preceding the plan merger, shall not incur a taxable event upon the plan merger. Each Victoria Employee shall be eligible for participation, subject to any applicable eligibility requirements (with full credit for years of past service to Victoria and the Victoria Subsidiaries, to the extent credited under the respective employee retirement benefit plans of Victoria and Victoria Subsidiaries, for the purpose of satisfying any applicable eligibility and vesting periods, but without credit for years of past service to Victoria and the Victoria Subsidiaries for purposes of benefit accruals), in the Norwest Pension Plan under the terms thereof and shall enter the Norwest Pension Plan no later than the first day of the calendar quarter which is at least 32 days after the Effective Time. In addition to the Norwest pension benefit described above, Norwest agrees that the pension benefit earned under the Victoria Pension Plan for each Victoria Employee entitled to such a benefit shall be computed using such employee's compensation prior to subsequent termination of employment, rather than using such employee's compensation prior to the Effective Time; provided, however, that if, assuming no change in the actuarial assumptions in effect on the date hereof, the assets in the Victoria Pension Plan as of December 31, 1995 do not exceed the accumulated pension benefit obligation computed using the Victoria Employees' compensation as of December 31, 1995 (current service, current pay) fo...
