Common use of Seller Employee Plan Clause in Contracts

Seller Employee Plan. Seller Employee Plan" shall mean any plan, program, policy, practice, Contract or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written, unwritten or otherwise, funded or unfunded, including each "employee benefit plan," within the meaning of Section 3(3) of ERISA (whether or not ERISA is applicable to such plan), that is or has been maintained, contributed to, or required to be contributed to, by any of the Parent Entities or any Seller Affiliate for the benefit of any Seller Employee, or with respect to which any of the Parent Entities or any Seller Affiliate has or may have any liability or obligation provided, however, that a Seller Employee Agreement shall not be deemed to be a "Seller Employee Plan".

Appears in 2 contracts

Samples: Asset Purchase Agreement (Inktomi Corp), Asset Purchase Agreement (Verity Inc \De\)

AutoNDA by SimpleDocs

Seller Employee Plan. Seller Employee Plan" shall mean any plan, program, policy, practice, Contract or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written, unwritten or otherwise, funded or unfunded, including each "employee benefit plan," within the meaning of Section 3(3) of ERISA (whether or not ERISA is applicable to such plan), that is or has been maintained, contributed to, or required to be contributed to, by any of the Parent Entities Seller or any Seller Affiliate and for the benefit of any Seller Employee, or with respect to which any of the Parent Entities Seller or any Seller Affiliate has or may have any material liability or material obligation providedfor the benefit of any Seller Employee, however, that a except such definition shall not include any Seller Employee Agreement shall not be deemed to be a "Seller Employee Plan"Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Broadsoft Inc)

AutoNDA by SimpleDocs

Seller Employee Plan. Seller Employee Plan" shall mean any plan, program, policy, practice, Contract or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written, unwritten or otherwise, funded or unfunded, including each "employee benefit plan," within the meaning of Section 3(3) of ERISA (whether or not ERISA is applicable to such plan), that is or has been maintained, contributed to, or required to be contributed to, by the Seller or any affiliate of the Parent Entities or any Seller Affiliate and for the benefit of any Seller Employee, or with respect to which the Seller or any affiliate of the Parent Entities or any Seller Affiliate has or may have any liability or obligation providedfor the benefit of any Seller Employee, however, that a except such definition shall not include any Seller Employee Agreement shall not be deemed to be a "Seller Employee Plan"Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Broadsoft Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!