Assumed Employee Plan definition

Assumed Employee Plan means the Severance Arrangements, and any Employee Plan sponsored exclusively by any Transferred Entity and, if material, that is identified as such on Schedule 3.11.

Assumed Employee Plan means the Emerald-Sapphire Retention Program, the Severance Arrangements, and any Employee Plan sponsored exclusively by any Transferred Entity and, if material, that is identified as such on Schedule 3.11.

Assumed Employee Plan means each Employee Plan listed on Section 2.01(h) of the Seller Disclosure Letter.

Examples of Assumed Employee Plan in a sentence

• Subject to Law, unless otherwise specifically provided in this Agreement, including this Article VII, no provision of this Agreement shall constitute a limitation on rights to amend, modify or terminate, either before or after Closing, any such Employee Plan (including any Assumed Employee Plan).

• With respect to each such Employee Plan or Assumed Employee Plan, service with Crown or any Crown Subsidiary (as applicable) and the predecessor of any of them by any Hired Employee shall be included for purposes of determining eligibility to participate, vesting (if applicable) and determination of the level of entitlement to, benefits under such Employee Plan; provided, however, that such service shall not be included for purposes of benefit accrual under any Pension Plan.

• Except as otherwise specifically provided in this Agreement or as required by the Employee Plans, all MCC Business Employees will cease, effective as of the Closing Date, any participation in, and any benefit accrual under, each Employee Plan that is not an Assumed Employee Plan.

• The Purchaser or its Affiliates shall assume all Liabilities and assets with respect to, each Assumed Employee Plan and shall assume or discharge all Liabilities under such Assumed Employee Plan.

• Except as otherwise specifically provided in this Agreement or except when required by applicable Law or collective bargaining agreement, all Business Employees will cease, effective as of the Closing Date, any participation in and any benefit accrual under each Employee Plan that is not an Assumed Employee Plan (a “Non-Assumed Employee Plan”).

More Definitions of Assumed Employee Plan

Assumed Employee Plan means each Employee Plan (i) sponsored or maintained by any Transferred Entity as of the Closing Date, (ii) that the Buyer or any of its Affiliates has explicitly agreed to assume or retain pursuant to Article IX, or (iii) that the Buyer or any of its Affiliates is required to assume, contribute to or retain under applicable Law or any applicable collective bargaining agreement. “Assumed Foreign Employee Plan” means each Assumed Employee Plan that is not an Assumed U.S. Employee Plan.

Assumed Employee Plan has the meaning given to it in Section 6.02(a).

Assumed Employee Plan means any Employee Plan listed on Schedule 2.1(g). “Assumed Liabilities” has the meaning set forth in Section 2.3(a).

Assumed Employee Plan shall have the meaning set forth in Section 3.15(e).

Assumed Employee Plan means any Employee Plan set forth on Schedule 6.09(b)(ii).

Assumed Employee Plan means any Employee Plan listed on Schedule 2.1(g).

Assumed Employee Plan means any Employee Plan listed on Schedule 2.1(g).