Termination of 401(k) Plan. The Company’s board of directors shall adopt resolutions terminating, effective as of one day prior to the Closing, any Company plan qualified under Section 401(a) of the Code and containing a Code Section 401(k) cash or deferred arrangement.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Talon Therapeutics, Inc.), Stock Purchase Agreement (Spectrum Pharmaceuticals Inc)
Termination of 401(k) Plan. The Board of Directors of the Company shall have adopted resolutions terminating the Company’s board of directors shall adopt resolutions terminating, effective as of one day 401(k) Plan no later than immediately prior to Closing and the Closing, any Company plan qualified under Section 401(a) shall have taken such action as is necessary to effect the termination of the Code and containing a Code Section Company’s 401(k) cash or deferred arrangementPlan in accordance therewith.
Appears in 1 contract
Termination of 401(k) Plan. The Company’s If requested by Acquirer, the Company shall have provided to Acquirer (i) executed resolutions of the board of directors shall adopt resolutions terminating, effective as of one day the Company terminating any 401(b) Plan prior to the Closing, Effective Time; and (ii) an executed amendment to any Company plan qualified under Section 401(a401(k) Plan prior to termination sufficient to maintain the qualification of the 401(k) Plan in form with the applicable requirements of the Code and containing a Code Section 401(k) cash or deferred arrangementregulations thereunder.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Webex Communications Inc)
Termination of 401(k) Plan. The Company’s board of directors of the Company shall adopt resolutions terminating, have adopted a resolution terminating the Company’s existing 401(k) plan contingent upon the Closing and effective as of one the day immediately prior to the Closing, any Company plan qualified under Section 401(a) of the Code and containing a Code Section 401(k) cash or deferred arrangementClosing Date.
Appears in 1 contract
Termination of 401(k) Plan. The Company’s board Company shall have adopted resolutions to effect the termination of directors shall adopt resolutions terminatingthe Company 401(k) Plan, with such termination effective as of one on the day immediately prior to the Closing Date but contingent on the Closing, any Company plan qualified under Section 401(a) of the Code and containing a Code Section 401(k) cash or deferred arrangement.
Appears in 1 contract
