Common use of Termination of 401(k) Plan Clause in Contracts

Termination of 401(k) Plan. If requested in writing by Parent no later than ten (10) days prior to the Closing Date, the Company shall terminate any and all Company Employee Plans intended to include a Code Section 401(k) arrangement (a “Company 401(k) Plan”). The Company shall provide Parent with evidence that such Company 401(k) Plan(s) have been terminated (effective no later than the day immediately preceding the Closing Date) pursuant to resolutions of the Company’s Board of Directors. The form and substance of such resolutions shall be subject to reasonable review and approval of Parent.

Termination of 401(k) Plan. If requested in writing by Parent no later than provides written notice to the Company at least ten (10) days prior to the Closing Date, then effective no later than the day immediately preceding the Closing Date, the Company shall terminate any and all Company Employee Plans plans intended to include a Code Section 401(k) arrangement cash or deferral arrangement. If Parent provides such written notice to the Company, then no later than two (a “Company 401(k2) Plan”). The days prior to the Closing Date, the Company shall provide Parent with reasonable evidence that such Company 401(k) Plan(splan(s) have been terminated (effective no later than as of the day immediately preceding the Closing Date) pursuant to resolutions of the Company’s Board board of Directors. The form and substance of such resolutions shall be subject to reasonable review and approval of Parentdirectors.

Termination of 401(k) Plan. If requested in writing Parent requests, by Parent written notice to the Company no later than ten (10) seven days prior to the Closing DateEffective Time, that the Company shall terminate any and all Company Employee Plans Benefit Plan which is intended to include a Code Section meet the requirements of section 401(k) arrangement of the Code (each such Benefit Plan, a “Company 401(k) Plan”), the Company Board of Directors shall adopt resolutions terminating, effective at the Effective Time, any such 401(k) Plan. The At the Closing, the Company shall provide Parent with evidence that such Company 401(k) Plan(s) have been terminated (effective no later than the day immediately preceding the Closing Date) pursuant to executed resolutions of the Company’s Company Board of Directors. The form and substance of Directors authorizing such resolutions shall be subject to reasonable review and approval of Parenttermination.