Plan Information and Operation Sample Clauses
The "Plan Information and Operation" clause defines the requirements for providing details about a plan and outlines how the plan is to be managed and administered. Typically, this clause specifies what information must be disclosed to participants, such as eligibility, benefits, and procedures, and sets forth the responsibilities of those operating the plan to ensure compliance with relevant laws and regulations. Its core function is to promote transparency and proper administration, ensuring that all parties understand the plan's terms and that it is operated fairly and efficiently.
Plan Information and Operation. Merck shall provide Organon with information describing each Merck Benefit Plan election made by a Transferred Employee that may have application following the applicable Transfer Date. Organon shall determine, in its sole discretion (and in compliance with Code Section 409A to the extent applicable), whether to administer the Organon Benefit Plans using those elections or to require Transferred Employees to submit new elections with respect to the Organon Benefit Plans. Except as provided in this Agreement, the Distribution and the transfer of any Employee’s employment to the Organon Group shall not cause a distribution from or payment of benefits under any Merck Benefit Plan. Each Party shall, upon reasonable request, provide the other Party and the other Party’s respective Affiliates, agents, and vendors all information reasonably necessary to the other Party’s operation or administration of its Benefit Plans and to accommodate the transfer of benefits.
Plan Information and Operation. Baxter shall provide Baxalta with information describing each Baxter Benefit Plan election made by a Transferred Employee that may have application following the applicable Transfer Date. Baxalta shall determine, in its sole discretion, whether to administer the Baxalta Benefit Plans using those elections or to require Transferred Employees to submit new elections with respect to the Baxalta Benefit Plans. Except as provided in this Agreement, the Distribution and the transfer of any Employee’s employment to the Baxalta Group shall not cause a distribution from or payment of benefits under any Baxter Benefit Plan. Each Party shall, upon reasonable request, provide the other Party and the other Party’s respective Affiliates, agents, and vendors all information reasonably necessary to the other Party’s operation or administration of its Benefit Plans.
Plan Information and Operation. Aptevo shall require Transferred Employees to submit new elections with respect to the Aptevo Benefit Plans. Except as provided in this Agreement, the Distribution and the transfer of any Employee’s employment to the Aptevo Group shall not cause a distribution from or payment of benefits under any Emergent Benefit Plan.
Plan Information and Operation. Abbott shall provide AbbVie with information describing each Abbott Benefit Plan election made by a Transferred Employee or by an AbbVie LTD Participant that may have application following the applicable Transfer Date. AbbVie shall determine, in its sole discretion, whether to administer the AbbVie Benefit Plans using those elections or to require Transferred Employees or AbbVie LTD Participants to submit new elections with respect to the AbbVie Benefit Plans. Except as provided in this Agreement, the Distribution and the transfer of any Employee’s employment to the AbbVie Group shall not cause a distribution from or payment of benefits under any Abbott Benefit Plan. Each Party shall, upon reasonable request, provide the other Party and the other Party’s respective Affiliates, agents, and vendors all information reasonably necessary to the other Party’s operation or administration of its Benefit Plans.