ALC Employee definition
Examples of ALC Employee in a sentence
ALC has made all contributions and other payments required by and due under the terms of each ALC Employee Plan.
There are no actions, suits, claims, labor disputes or grievances pending or, to the Knowledge of the Major Stockholder, threatened or reasonably anticipated relating to any labor, safety or discrimination matters involving any ALC Employee or ALC Independent Contractor, including, without limitation, charges of unfair labor practices or discrimination complaints.
No ALC Independent Contractor is eligible to participate in any ALC Employee Plan.
Other than commitments made that involve no future costs to ALC, ALC has never represented, promised or contracted (whether in oral or written form) to any ALC Employee (either individually or to ALC Employees as a group) or any other Person that such ALC Employee(s) or other person would be provided with retiree life insurance, retiree health benefit or other retiree employee welfare benefits, except to the extent required by applicable Legal Requirements.
There are no claims or Proceedings pending, or, to the Knowledge of the Major Stockholder, threatened or reasonably anticipated (other than routine claims for benefits), against any ALC Employee Plan or against the assets of any ALC Employee Plan.
Any ALC Employee Plan intended to be qualified under Section 401(a) of the Code has obtained a favorable determination letter (or opinion letter, if applicable) as to its qualified status under the Code.
ALC does not intend nor has it committed to establish or enter into any new ALC Employee Plan or ALC Employee Agreement, or to modify any ALC Employee Plan or ALC Employee Agreement (except to conform any such ALC Employee Plan or ALC Employee Agreement to the requirements of any applicable Legal Requirements, in each case as previously disclosed to the Purchaser in writing or as required by this Agreement).
Neither ALC nor any current ALC Employee has been debarred or suspended from doing business with any Governmental Body, and, to the Knowledge of the Major Stockholder, no circumstances exist that would warrant the institution of debarment or suspension proceedings against ALC or any current ALC Employee.
ALC has never incurred any penalty or tax with respect to any ALC Employee Plan under Section 502(i) of ERISA or Sections 4975 through 4980 of the Code.
No “prohibited transaction,” within the meaning of Section 4975 of the Code or Sections 406 and 407 of ERISA, and not otherwise exempt under Section 408 of ERISA, has occurred with respect to any ALC Employee Plan.