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Business Benefit Plan definition

Business Benefit Plan means each Benefit Plan entered into, maintained, sponsored or contributed to by Seller or any of its Subsidiaries or to which Seller or any of its Subsidiaries has any obligation to contribute, or with respect to which Seller or any of its Subsidiaries has any liability, direct or indirect, contingent or otherwise (including a liability arising out of an indemnification, guarantee, hold harmless or similar agreement), in each case with respect to any Business Employee or Former Business Employee or to any beneficiary or dependent thereof.
Business Benefit Plan means each Benefit Plan that is sponsored or maintained by the Company.
Business Benefit Plan has the meaning set forth in Section 4.7(a).

Examples of Business Benefit Plan in a sentence

  • With respect to each Business Benefit Plan that is not an Assumed Benefit Plan and that is required to be listed on Section 4.09-1 of the Seller Disclosure Letter, Seller has made available to Purchaser the most recent summary plan description.

  • Such payments shall be made in accordance with the terms and conditions of the applicable Business Benefit Plan listed on Section 5.6(k) of the Seller Disclosure Letter and Purchaser shall indemnify and defend each of the Seller Indemnitees against, and shall hold each of them harmless from and against, any such Liabilities, obligations and responsibilities.

  • Seller or one of its Subsidiaries or Affiliates has made available to Purchaser or one of its Affiliates prior to the Closing or Deferred Closing, as applicable, in respect of each Business Benefit Plan required to be listed on Section 3.15(a) of the Seller Disclosure Letter, a true and complete copy of the current plan document or, in the case of any unwritten Business Benefit Plan, a written summary of such Business Benefit Plan’s material terms.

  • No compensation or benefits payable to, earned or accrued in respect of any current or former employee or consultant Related to the Transferred Businesses, including the Transferred Employees, at or prior to the Closing is payable under any Business Benefit Plan that will continue to be sponsored or maintained by Splitco or Clorox Korea after the Closing or with respect to which any such Person will continue as a party or otherwise continue to be bound.

  • No Business Benefit Plan provides for post-retirement or post-termination medical, health or life insurance or other welfare-type benefits to any Business Employee employed in the United States.


More Definitions of Business Benefit Plan

Business Benefit Plan means any “employee benefit plan” (as defined in Section 3(3) of ERISA), and each other material plan, program, arrangement or agreement providing bonus, incentive, deferred compensation, vacation, sick pay, stock purchase, stock option, severance, employment, change of control or fringe benefits in which any Business Employee and/or any current or former employee of a Seller’s Affiliate engaged primarily in the Business, or independent contractors or directors of the Business, participates or to which the Company or any ERISA Affiliate has any Liability, whether contingent or otherwise, arising from or related to the Business.
Business Benefit Plan means any Employee Benefit Plan maintained, or contributed to, by any Seller, Business Subsidiary, Operating Subsidiary or any ERISA Affiliate for the benefit of one or more Business Employees or former Business Employees.
Business Benefit Plan means each Benefit Plan that is contributed to or required to be contributed to or sponsored or maintained by Seller or one of its Subsidiaries or Affiliates and under which any Business Employee or any dependent or beneficiary thereof has a present or future right to benefits (other than a Miraclon Entity Benefit Plan).
Business Benefit Plan means each Benefit Plan that is contributed to, sponsored, maintained or entered into by an Asset Selling Entity, a Conveyed Company or any Affiliate of either for the benefit of any Business Employee.
Business Benefit Plan means each Benefit Plan sponsored, maintained, or contributed to by Seller or its ERISA Affiliates, (i) which provides for compensation or benefits of any Business Employee or any other current or former employee or independent contractor of Seller or its Affiliates who provides or provided services primarily associated with the Operations or the Assets or any of their beneficiaries, or (ii) under which Buyer or its Affiliates has or may have any liability, contingent or otherwise, following the Closing.
Business Benefit Plan has the meaning set forth in Section 3.13(a).
Business Benefit Plan means a Benefit Plan that is sponsored, maintained or contributed to, or required to be maintained or contributed to in any country or jurisdiction for the benefit of any Business Employee.