Benefit Plans definition

Benefit Plans shall have the meaning set forth in Section 3.13(a).

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Benefit Plans has the meaning set forth in Section 4.9(b).

Benefit Plans of any Person means any and all deferred compensation, executive compensation, incentive compensation, equity purchase or other equity-based compensation plan, employment or consulting, severance or termination pay, holiday, vacation or other bonus plan or practice, hospitalization or other medical, life or other insurance, supplemental unemployment benefits, profit sharing, pension, or retirement plan, program, agreement, commitment or arrangement, and each other employee benefit plan, program, agreement or arrangement, including each “employee benefit plan” as such term is defined under Section 3(3) of ERISA, maintained or contributed to or required to be contributed to by a Person for the benefit of any employee or terminated employee of such Person, or with respect to which such Person has any Liability, whether direct or indirect, actual or contingent, whether formal or informal, and whether legally binding or not.

Examples of Benefit Plans in a sentence

• All contributions and premiums required to have been made to the Benefit Plans have been timely made to the Benefit Plans in all material respects.

• There are no Benefit Plans under which welfare benefits or coverage, including health, life or disability insurance, are provided to any participants beyond their retirement or other termination of service, other than coverage mandated by Code Section 4980B, Subtitle B of Title I of ERISA or similar state group health plan continuation Legal Requirements, the cost of which is fully paid by the eligible participants or their dependents.

• Except (a) as set forth on ‎Section 3.24 of the Seller Disclosure Schedule, (b) the Benefit Plans, (c) Contracts relating to labor and employment matters set forth on ‎Section 3.16(a) of the Seller Disclosure Schedule, and (d) Contracts between or among the Company Entities and the Affiliated Professional Entities, there are no Liabilities of any Company Entity or any Affiliated Professional Entity to any Related Party.

• There are no Benefit Plans under which welfare benefits or coverage, including health, life or disability insurance, are provided to any participants beyond their retirement or other termination of service, other than coverage mandated by Code Section 4980B, Subtitle B of Title I of ERISA or similar state group health plan continuation legal requirements, the cost of which is fully paid by the eligible participants or their dependents.

• None of the Company or any of the Benefit Plans has incurred (whether or not assessed), and are not reasonably expected to incur or to be subject to, any Tax, penalty, assessment or other liability that may be imposed under the ACA or Sections 4975 through 4980 of the Code, or Sections 4980B, 4980D, 4980H, 6055, 6056, 6721 or 6722 of the Code.

More Definitions of Benefit Plans

Benefit Plans has the meaning set forth in Section 5.03(m)(i).

Benefit Plans means employee benefit plans as defined in Section 3(3) of ERISA and all other employee benefit practices or arrangements, including, without limitation, any such practices or arrangements providing severance pay, sick leave, vacation pay, salary continuation for disability, retirement benefits, deferred compensation, bonus pay, incentive pay, stock options or other stock-based compensation, hospitalization insurance, medical insurance, life insurance, scholarships or tuition reimbursements, maintained by the Company or to which the Company or any of its subsidiaries is obligated to contribute for employees or former employees of the Company and its subsidiaries.

Benefit Plans shall have the meaning set forth in Section 4.24(a).

Benefit Plans has the meaning set forth in Section 5.13(a).

Benefit Plans means plans, policies or arrangements that the Company sponsors (or participates in) and that immediately prior to Executive’s termination of employment provide Executive and/or Executive’s eligible dependents with medical, dental, vision and/or financial counseling benefits. Benefit Plans do not include any other type of benefit (including, but not by way of limitation, disability, life insurance or retirement benefits). A requirement that the Company provide Executive and Executive’s eligible dependents with coverage under the Benefit Plans will not be satisfied unless the coverage is no less favorable than that provided to Executive and Executive’s eligible dependents immediately prior to Executive’s termination of employment. Notwithstanding any contrary provision of this Section 12, but subject to the immediately preceding sentence, the Company may, at its option, satisfy any requirement that the Company provide coverage under any Benefit Plan by instead providing coverage under a separate plan or plans providing coverage that is no less favorable or by paying Executive a lump-sum payment sufficient to provide Executive and Executive’s eligible dependents with equivalent coverage under a third party plan that is reasonably available to Executive and Executive’s eligible dependents.

Benefit Plans has the meaning set forth in Section 4(c) of this Agreement.

Benefit Plans means any pension, retirement, savings, profit sharing, health, medical, dental, disability, life insurance, welfare or other employee benefit plan, program, policy or practice, whether written or oral, funded or unfunded, registered or unregistered, which is sponsored, maintained or contributed to or required to be contributed to by the Borrower or any Material Subsidiary or under which Borrower or any Material Subsidiary has any actual or potential liability, other than a Pension Plan.