Tax-Qualified Plans. On the Closing Date or as soon as practicable thereafter, Purchaser shall permit any active employee of an Acquired Company who has an account balance under the Edgewater Technology 401(k) Savings Plan (a "PARTICIPANT") to rollover (whether by direct or indirect rollover, as selected by such Participant) his or her "eligible rollover distribution" (as defined under Section 402(c)(4) of the Code) from the Edgewater Technology 401(k) Savings Plan to a retirement plan maintained by Purchaser or its affiliates that contains a cash or deferred arrangement under Section 401(k) of the Code ("PURCHASER 401(k) PLAN"). Seller acknowledges that on and after the Closing Date the account balances of employees of the Acquired Companies shall be distributable from the Edgewater Technology 401(k) Savings Plan in accordance with Section 401(k)(10) of the Code. Seller and the Edgewater Technology 401(k) Savings Plan shall not place any Participant's plan loan into default or declare a default with respect to any plan loan during the six-month period following the Closing Date or such shorter period as requested by Purchaser, so long as such Participant continues to make payments where due and transfers his or her account balance under the Edgewater Technology 401(k) Savings Plan, together with the note evidencing the plan loan, to the Purchaser 401(k) Plan through a direct rollover on or as soon as administratively practicable following the Closing. Purchaser shall be responsible for forwarding all loan payments under the Edgewater Technology 401(k) Savings Plan to the trustee of the Edgewater Technology 401(k) Savings Plan. Purchaser shall amend the Purchaser 401(k) Plan and Seller shall amend the Edgewater Technology 401(k) Savings Plan to the extent necessary in order to effectuate the transactions contemplated under this Section 11.4. Seller and Purchaser shall cooperate with each other (and cause the trustees of the Edgewater Technology 401(k) Savings Plan and Purchaser 401(k) Plan to cooperate with each other) with respect to the rollover of the distributions to the Participants.
Tax-Qualified Plans. The Executive shall be entitled to participate in all tax qualified pension, profit sharing, 401(k) or other tax qualified plans maintained, from time to time, by the Company for the employees of the Company who are employed at the Company’s Buffalo, New York corporate offices.
Tax-Qualified Plans. Is this annuity part of a Tax Qualified Plan? ____ Yes ____No If yes, please select one of the following. ___IRA Transfer/Rollover ___403(b)TSA ___Regular Contribution for Tax Year________ ___Roth IRA ___401 (Corporate Plan) ___Other _______________ ______________________________________________________________________________ 7.PURCHASE PAYMENT ____Purchase Payment Enclosed with Application Purchase Payment Amount $_____________________ ____This contract will be funded by a 1035 Exchange, Tax Qualified Transfer/Rollover, CD or Mutual Fund Redemption. (If checked, please attach the appropriate forms). ______________________________________________________________________________
Tax-Qualified Plans. The Executive shall be entitled to participate in the tax qualified 401(k) plan maintained by the Company for employees of the Company who are employed at the Company’s corporate offices and any other tax qualified plans which the Company may, from time to time, maintain for employees of the Company who are employed at the Company’s corporate headquarters.
Tax-Qualified Plans. The Executive shall be eligible to receive any accrued, vested benefits to which he is otherwise entitled under the tax-qualified pension and 401(k) plans of HRB and its Affiliates.
Tax-Qualified Plans. Each Peabody Benefit Plan that is intended to be “qualified” within the meaning of Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service or is entitled to rely upon a favorable opinion issued by the Internal Revenue Service, and, to the Knowledge of Peabody, there are no existing circumstances or any events that have occurred that could reasonably be expected to cause the loss of any such qualification status of any such Peabody Benefit Plan.
Tax-Qualified Plans. Each Arch Benefit Plan that is intended to be “qualified” within the meaning of Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service or is entitled to rely upon a favorable opinion issued by the Internal Revenue Service, and, to the Knowledge of Arch, there are no existing circumstances or any events that have occurred that could reasonably be expected to cause the loss of any such qualification status of any such Arch Benefit Plan.
Tax-Qualified Plans. Each Transferred U.S. Employee who is a participant in the Tyco Electronics Retirement Savings and Investment Plan (the “Tyco Electronics Savings Plan”) shall cease to be an active participant under such plan effective as of the Closing Date. Effective as of the Closing Date, Buyer shall have, or shall cause its Affiliates to have, in effect a defined contribution plan that is qualified under Section 401(a) of the Code and that includes a qualified cash or deferred arrangement within the meaning of Section 401(k) of the Code (the “Buyer Savings Plan”) in which Transferred U.S. Employees who meet the eligibility criteria thereof shall be eligible to participate. Effective as of the Closing Date, each Transferred U.S. Employee shall become fully vested in his or her account balance in the Tyco Electronics Savings Plan. Buyer agrees to cause the Buyer Savings Plan to accept rollovers by Transferred U.S. Employees from the Tyco Electronics Savings Plan, including promissory notes evidencing all outstanding loans. Buyer agrees that it will be solely responsible for amounts charged by the third-party administrator of the Tyco Electronics Savings Plan and paid by Seller in connection with rollovers by Transferred U.S. Employees from the Tyco Electronics Savings Plan to the Buyer Savings Plan that exceed the amounts that would have been charged by the third-party administrator of the Tyco Electronics Savings Plan and paid by Seller had the accounts of Transferred U.S. Employees in the Tyco Electronics Savings Plan been transferred to the Buyer Savings Plan in a mandatory trust-to-trust transfer. Seller agrees that it will use good faith efforts to avoid or mitigate charges by the third-party administrator of the Tyco Electronics Savings Plan in connection with the rollovers contemplated by this Section 9.01(e), including consulting with Buyer prior to authorizing such charges and permitting Buyer or the third-party administrator of the Buyer Savings Plan to assume responsibility for actions for which the third-party administrator of the Tyco Electronics Savings Plan would asses charges, including drafting and sending participant communications regarding the availability of such rollovers (which communications shall be mutually acceptable in form and substance to both Seller and Buyer). Buyer agrees that it will cause the third-party administrator of the Buyer Savings Plan to accept any rollover contemplated pursuant to this Section 9.01(e) no later than sixty days...
Tax-Qualified Plans. In the event Transferred Employees are not permitted to continue to participate in the Predecessor Savings Plan following the Closing Date, each Transferred Employee who is a participant in the Predecessor Savings Plan shall cease to be an active participant under such plan effective as of the Closing Date, and each Conveyed Entity shall cease to be a participating employer in the Predecessor Savings Plan effective as of the Closing Date (Sellers shall have provided Purchaser with satisfactory evidence to this effect as of the date hereof). In such case, effective as of as soon as reasonably practicable after the Closing Date, Purchaser shall have, or shall cause its Affiliates to have, in effect a defined contribution plan that is qualified under Section 401(a) of the Code and that includes a qualified cash or deferred arrangement within the meaning of Section 401(k) of the Code with terms and conditions not substantially less favorable than those provided under the Predecessor Savings Plan as determined on an annualized basis (the “Purchaser Savings Plan”) in which Transferred Employees shall be eligible to participate. Effective as of the Closing Date, each Transferred Employee shall become fully vested in his or her account balance in the Predecessor Savings Plan. Notwithstanding anything to the contrary contained herein, Purchaser may modify the terms of, or terminate, the Purchaser Savings Plan subject to the limitations set forth in Section 5.5(a).
Tax-Qualified Plans. Each Transferred US Employee who is a participant in the Covidien Retirement Savings and Investment Plan (the “Covidien Savings Plan”) shall cease to be an 50 active participant under such plan effective as of the Closing Date. Effective as of the Closing Date, Purchaser shall have, or shall cause its Affiliates to have, in effect a defined contribution plan (the “Purchaser Savings Plan”) that is qualified under Section 401(a) of the Code and that includes a qualified cash or deferred arrangement within the meaning of Section 401(k) of the Code with terms and conditions substantially comparable to those provided under the Covidien Savings Plan in which Transferred US Employees shall be eligible to participate immediately upon the Closing Date.
