Business Employee Plan definition

Business Employee Plan means (a) all material “employee benefit plans,” as defined in Section 3(3) of ERISA (whether or not subject to ERISA), (b) all other material severance pay, salary continuation, bonus, incentive, equity-based, retirement, pension, retention, change of control, health, medical, dental, disability, accident, life insurance, vacation, relocation, loan, fringe benefit, profit sharing or deferred compensation plans, Contracts, programs, funds, or arrangements of any kind and (c) all other material employee benefit plans, Contracts, programs, funds, or arrangements (whether or not subject to ERISA) and any trust, escrow, or similar agreement related thereto, whether or not funded, in each case (y) in respect of any present or former employees, directors, officers, shareholders, individual consultants, or individual independent contractors of the Target Group or its Subsidiaries that are sponsored or maintained by the Target Group or any ERISA Affiliate or (z) with respect to which the Target Group or its Subsidiaries have made or are required to make payments, transfers, or contributions or have, or may reasonably be expected to have, any Liability.

Business Employee Plan means each Benefit Plan maintained, sponsored or contributed to solely for the benefit of the Business Employees, other than the Seller U.K. Pension Plan.

Business Employee Plan means an Employee Plan that is maintained or sponsored solely by MONY.

Examples of Business Employee Plan in a sentence

• Each Business Employee Plan that is subject to Section 409A of the Code has been operated in compliance with such section and all applicable regulatory guidance (including, without limitation, proposed regulations, notices, rulings, and final regulations).

• Each of the GAME Parties complies in all material respects with the applicable requirements under ERISA and the Code, including COBRA, HIPAA, and the Affordable Care Act, and other federal requirements for employer-sponsored health plans, and any corresponding requirements under state statutes, with respect to each Business Employee Plan that is a group health plan within the meaning of Section 733(a) of ERISA, Section 5000(b)(1) of the Code, or such state statute.

• No amount that could be received (whether in cash or property or the vesting of any property) as a result of the consummation of the transactions contemplated by this Agreement by any employee, director, or other service provider of the GAME Parties under any Business Employee Plan or otherwise would not be deductible by reason of Section 280G of the Code nor would be subject to an excise tax under Section 4999 of the Code.

• Section 2.11(a) of the Disclosure Letter separately identifies each Business Employee Plan that is maintained by a professional employer organization, employer of record or co-employer organization (such entity, a “PEO” and any such Business Employee Plan, a “PEO Plan”).

• No complete or partial termination of any Business Employee Plan has occurred or is expected to occur.

More Definitions of Business Employee Plan

Business Employee Plan means each Benefit Plan (i) that is sponsored, maintained, provided or contributed to or required to be sponsored, maintained, provided or contributed to by Seller or any of its Subsidiaries, including any of the Sold Entities, or to which Seller or any of its Subsidiaries, including any of the Sold Entities is a party, in each case providing compensation or benefits to any current or former employee or director of any of the Sold Entities or any current or former Seconded Employee or (ii) under which any of the Sold Entities has had or has any present or future liability.

Business Employee Plan shall have the meaning set forth in Section 5.17(a).

Business Employee Plan means each Benefit Plan maintained, sponsored or contributed to solely for the benefit of the Business Employees.

Business Employee Plan means each Benefit Plan maintained, sponsored or contributed to solely for the benefit of the Business Employees located in the United States, (iii) the term “Parent Plan” means a Benefit Plan maintained, sponsored or contributed to by Sellers or any of their Affiliates for the benefit of Business Employees and other employees of Sellers and their Subsidiaries, and (iv) the term “Non-U.S. Business Employee Plan” means each Benefit Plan maintained, sponsored or contributed to solely for the benefit of the Business Employees located outside the United States. Section 3.10(a) of the Seller Disclosure Schedule identifies each Business Employee Plan, each Non-U.S. Business Employee Plan and each material Parent Plan. No Parent Plan is sponsored by any member of the Education Group.

Business Employee Plan means an Employee Plan which (i) is maintained or contributed to by the Business or the Seller for the benefit of the Business, or (ii) provides benefits, or describes policies or procedures applicable, to any officer, employee, former officer or former employee of the Business, or the dependents thereof, regardless of whether funded. Set forth in Schedule 3.1.12(a) is each Business Employee Plan. Seller has made available to Buyer, with respect to any Business Employee Plan, true, accurate and complete copies of the documents, records or other materials related thereto reasonably requested by Buyer.

Business Employee Plan means each “employee benefit plan” as such term is defined in Section 3(3) of ERISA and all stock purchase, stock option, severance, employment, change-in-control, fringe benefit, collective bargaining, bonus, incentive, deferred compensation, employee loan and all other employee benefit plans, agreements, programs, policies or other arrangements, whether or not subject to ERISA (including any funding mechanism therefor now in effect or required in the future as a result of the transaction contemplated by this Agreement or otherwise), under which any current or former employee, director or consultant of Seller has any present or future right to benefits or which has ever or are contributed to, sponsored by or maintained by Seller for current or former employee, director or consultant.

Business Employee Plan means an Employee Plan that provides benefits to the Business Employees or their respective dependents or beneficiaries.