Qualified Defined Contribution Plans. (a) No member of the Duck Head Group or the Delta Apparel Group shall have any obligation to make contributions to the Delta Woodside Industries, Inc. Savings and Investment Plan (the "Delta Woodside 401(k) Plan") in respect of any member of the Duck Head Employee Group or the Delta Apparel Employee Group or otherwise after the Effective Time, except for accrued but unpaid employee and employer contributions, if any, relating to that employee's compensation earned before the Effective Time.
(b) Effective not later than the Effective Time, Duck Head shall, or shall cause a member of the Duck Head Group to, adopt or designate a defined contribution plan intended to qualify under Section 401(a) and Section 401(k) of 37 the Code (the "Duck Head 401(k) Plan"). Members of the Duck Head Employee Group shall be vested in their benefits under and eligible to participate in the Duck Head 401(k) Plan on and after the Effective Time to the same extent that those members were vested in their benefits under and eligible to participate in the Delta Woodside 401(k) Plan immediately before the Effective Time.
(c) Effective not later than the Effective Time, Delta Apparel shall, or shall cause a member of the Delta Apparel Group to, adopt or designate a defined contribution plan intended to qualify under Section 401(a) and Section 401(k) of the Code (the "Delta Apparel 401(k) Plan"). Members of the Delta Apparel Employee Group shall be vested in their benefits under and eligible to participate in the Delta Apparel 401(k) Plan on and after the Effective Time to the same extent that those members were vested in their benefits under and eligible to participate in the Delta Woodside 401(k) Plan immediately before the Effective Time.
(d) As soon as practicable after the adoption or designation of the Duck Head 401(k) Plan, Delta Woodside shall cause to be transferred to the Duck Head 401(k) Plan cash or, to the extent provided below, other assets as the parties may agree, having a fair market value equal to the aggregate value of the account balances in the Delta Woodside 401(k) Plan, and any allocable portion of any suspense account, as of the date of the plan asset transfer for each member of the Duck Head Employee Group. The plan asset transfer contemplated by this paragraph (d) shall include any notes evidencing loans to members of the Duck Head Employee Group from their account balances, securities, Delta Woodside Shares, if any, Duck Head Shares, if any, and Delta Apparel ...
Qualified Defined Contribution Plans. (a) Seller shall cause the Chevron Employee Savings Investment Plan (“Seller’s Defined Contribution Plan”) to fully vest each Affected Employee as of the date his or her employment with Seller terminates, and to provide for the distribution of such Affected Employee’s vested benefits in accordance with such plan’s distribution rules.
(b) No later than the Hire Date, Buyer shall cause Services Company to establish and maintain, or make provision for, a defined contribution plan that is qualified as soon as practicable following the Closing Date under Section 401 of the Internal Revenue Code (“Buyer’s Defined Contribution Plan”). Buyer’s Defined Contribution Plan shall not be terminated prior to one year after the Hire Date. Buyer shall cause Services Company to cause Buyer’s Defined Contribution Plan to recognize for purposes of participation eligibility, vesting and benefit eligibility purposes each Affected Employee’s service for such purposes under Seller’s Defined Contribution Plan as of the date his or her employment with Seller terminates.
(c) Buyer shall cause Services Company to cause Buyer’s Defined Contribution Plan to accept the direct rollover of Affected Employees’ benefit distributed from Seller’s Defined Contribution Plan in cash and, where the Affected Employee elects to roll over his entire eligible balance, any promissory notes not accelerated (as provided in Internal Revenue Code Section 401(a)(31)). Any Affected Employee who elects to roll over his or her entire eligible balance from Seller’s Defined Contribution Plan to Buyer’s Defined Contribution Plan may elect to include with the rollover any loans outstanding under Seller’s Defined Contribution Plan as of the date his or her employment with Seller terminates, provided the loans have not been accelerated at the time of the rollover and, provided further, that, within 30 days of the Closing Date, Seller causes Seller’s Defined Contribution Plan to deliver to Buyer’s Defined Contribution Plan the promissory notes and/or other loan documentation of any Affected Employee who has elected to include an outstanding loan with such a rollover.
Qualified Defined Contribution Plans. The SNI 401(k) Plan.
Qualified Defined Contribution Plans. Establishment of the Schlage Lock Company LLC 401(k)
Qualified Defined Contribution Plans. Agriliance will cause its qualified defined contribution plan to transfer assets to the qualified defined contribution plans of CHS or LOL at such time as CHS and LOL may jointly direct through the Agriliance benefit committee for the account of any Hired CN Employees or Hired CPP Employees.
Qualified Defined Contribution Plans. Any tax-qualified defined contribution plans of the Seller (the "Seller's Defined Contribution Plans") will fully vest the Transferred Employees in, and will provide for the distribution to or on behalf of the Transferred Employees of, their account balances in accordance with such Plans' regular distribution rules for employees whose employment with the Seller and its Affiliates has terminated, provided that the Seller determines that such distributions will not adversely affect the qualified status of the Seller's Defined Contribution Plans under Section 401(a) of the Code. The Buyer shall have no responsibility for any determination made under the Seller's Defined Contribution Plans. So long as the Buyer maintains one or more defined contribution pension plans for its other similarly situated employees, the Buyer shall include the Transferred Employees in such plans (the "Buyer Defined Contribution Plan"
Qualified Defined Contribution Plans. The MSG 401(k) Savings Plan 13 Section 4.2 Stock Investment Options 14
Qualified Defined Contribution Plans. Section 3.1 UOL 401(k) Plan; FTD 401(k) Plan 6 Section 3.2 Contributions as of the Distribution Date 6
Qualified Defined Contribution Plans. No later than the Expiration Date, the applicable member of the Company Group shall establish and maintain a defined contribution plan that is qualified under Section 401 of the Code (“Company Defined Contribution Plan”). The applicable member of the Company Group shall (1) cause Company Defined Contribution Plan to accept the direct rollover of Transferred Employees’ “eligible rollover distributions” (as defined in Section 401(a)(31) of the Code) and (2) use its commercially reasonable efforts to cause Company Defined Contribution Plan to accept the rollover or transfer of Transferred Employees’ outstanding participant loans .
Qualified Defined Contribution Plans. Section 4.1 Participation of TransCo in the Entergy Savings Plan; Vesting. Effective not later than the Separation Date, Entergy shall have caused the Entergy Savings Plan to permit TransCo Employees to continue to participate therein during the period (if any) beginning on the Separation Date and ending immediately before the Closing Date in respect of each TransCo Employee who participated therein immediately before the Separation Date. Subject to any applicable collective bargaining obligation, Entergy shall cause each TransCo Employee to become fully vested in such TransCo Employee’s account balances under the Entergy Savings Plan as of the date on which such TransCo Employee ceases to be employed by the Entergy Group (which, generally, will be the Closing Date).
