Buyer DC Plan definition

Buyer DC Plan has the meaning set forth in Section 5.2(f).
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Buyer DC Plan shall have the meaning assigned thereto in Section 6.3(g)(ii).
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Buyer DC Plan means the defined contribution plan(s) and related trust(s) intended to be qualified under Sections 401(a), 401(k) and 501(a) of the Code that is sponsored by Buyer or one of its Affiliates and in which Transferred Employees are eligible to participate after Closing.
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Examples of Buyer DC Plan in a sentence

  • To the extent required under the Collective Bargaining Agreement, the Buyer DC Plan shall have terms and features (including employer contribution provisions) that are substantially identical to the applicable hourly Seller DC Plan that covers union Transferred Employees.

  • As soon as administratively practicable following the Closing, Seller shall spin-off and transfer and Buyer shall cause the Buyer DC Plan to accept the spin-off and transfer of all of the Liabilities and assets of each Employee Plan (“Seller DC Plans”) attributable to Transferred Employees, and their beneficiaries and alternate payees accrued through the date of Closing in a manner which qualifies under Section 414(l) of the Code.

  • Seller shall deliver to Buyer as soon as practicable following such request, all data and records reasonably requested by Buyer in connection with its administration of the Buyer DC Plan for those Transferred Employees who become participants in the Buyer DC Plan, including the information relating to the service of Transferred Employees with Seller and its Affiliates.

  • The Profit Sharing Contribution shall be made only for the plan year of the Buyer DC Plan in which the Closing Date occurs and the next following plan year of the Buyer DC Plan and shall be allocated as of the last day of the applicable plan year of the Buyer DC Plan.

  • The Buyer DC Plan shall contain provisions to permit any such direct rollover to include the promissory note or notes representing any plan loans outstanding to such Transferred Employees under the Seller DC Plans on the date of the direct rollover.

  • Nothing contained in this Agreement shall obligate Buyer to cause the Buyer DC Plan to provide for the Profit Sharing Contribution or any other supplemental employer contribution in respect of any Non-Union Transferred Participant’s compensation for any other plan year of the Buyer DC Plan.

  • With respect to each Continuing Employee that is a North Carolina Business Employee or Delaware Business Employee, as soon as practicable following the North Carolina Closing Date or Delaware Closing Date, as applicable, Buyer shall cover (or cause to be covered) each such Continuing Employee under the Buyer DC Plan,.

  • The terms of the Buyer DC Plans, or of each such Buyer DC Plan, shall provide that such U.S. Employees shall have the right to make direct rollovers to the applicable Buyer DC Plan of their accounts in the applicable defined contribution Qualified Plan of the Sellers and their Affiliates; provided, however, that the Buyer DC Plans will not accept a direct rollover of any notes evidencing loans made to such U.S. Employees.

  • Buyer shall cause the Buyer DC Plan to recognize all service of Transferred Employees with Seller and its Affiliates and with Buyer and its Affiliates for purposes of eligibility, vesting, eligibility to receive benefits, and eligibility for all other benefits, rights, features or other purposes under the provisions of the Buyer DC Plan.

  • Each Transferred Employee shall be permitted to receive a distribution of such Transferred Employee's full account balance from the Parent DC Plans or have such distribution "rolled over" in cash to an eligible retirement plan (including the Buyer DC Plan), as soon as practicable after the Closing Date.


More Definitions of Buyer DC Plan

Buyer DC Plan has the meaning specified in Section 9.7(h).
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Buyer DC Plan is defined in Section 5.5(h).
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Buyer DC Plan has the meaning set forth in Section 4.4(c)(v).
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Buyer DC Plan has the meaning set forth in ss.6(d)(ii).
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Buyer DC Plan has the meaning set forth in Section 6.7(c) (Employee Matters).
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Related to Buyer DC Plan

  • Buyer 401(k) Plan has the meaning set forth in Section 6.01(h).

  • Seller 401(k) Plan shall have the meaning set forth in Section 6.01(i).

  • Buyer Benefit Plans has the meaning set forth in Section 6.10(f).

  • Seller Employee Plan means any plan, program, policy, practice, Contract or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written, unwritten or otherwise, funded or unfunded, including each "employee benefit plan," within the meaning of Section 3(3) of ERISA (whether or not ERISA is applicable to such plan), that is or has been maintained, contributed to, or required to be contributed to, by the Seller or any Seller Affiliate for the benefit of any Seller Employee, or with respect to which the Seller or any Seller Affiliate has or may have any liability or obligation, except such definition shall not include any Seller Employee Agreement.

  • Purchaser Benefit Plans has the meaning set forth in Section 8.7(d).

  • Seller Plan means any Employee Benefit Plan that is maintained or sponsored by the Seller or any Subsidiaries of the Seller (other than the Companies and their Subsidiaries) for the benefit of any current or former NewCo Employee.

  • Buyer Plans has the meaning set forth in Section 6.02(b).

  • Purchaser Plans shall have the meaning set forth in Section 6.6(a)(v).

  • Seller Benefit Plan means each Benefit Plan sponsored, maintained or contributed to by Seller or any of its Subsidiaries or with respect to which Seller or any of its Subsidiaries is a party and in which any Employee is or becomes eligible to participate or derive a benefit.

  • Defined Contribution Plan A retirement plan which provides for an individual account for each participant and for benefits based solely on the amount contributed to the participant's account, and any income, expenses, gains and losses, and any forfeitures of accounts of other participants which the plan may allocate to such participant's account. The Advisory Committee must treat all defined contribution plans (whether or not terminated) maintained by the Employer as a single plan. Solely for purposes of the limitations of Part 2 of this Article III, the Advisory Committee will treat employee contributions made to a defined benefit plan maintained by the Employer as a separate defined contribution plan. The Advisory Committee also will treat as a defined contribution plan an individual medical account (as defined in Code Section 415(l)(2)) included as part of a defined benefit plan maintained by the Employer and, for taxable years ending after December 31, 1985, a welfare benefit fund under Code Section 419(e) maintained by the Employer to the extent there are post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code Section 419A(d)(3)).

  • Seller Benefit Plans has the meaning set forth in Section 4.8(a).

  • Company Employee Plan means any plan, program, policy, practice, contract, agreement or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written or unwritten or otherwise, funded or unfunded, including without limitation, each "employee benefit plan," within the meaning of Section 3(3) of ERISA which is or has been maintained, contributed to, or required to be contributed to, by the Company or any Affiliate for the benefit of any Employee, or with respect to which the Company or any Affiliate has or may have any liability or obligation;

  • Parent Benefit Plans has the meaning set forth in Section 5.07(b).

  • Parent Benefit Plan means an Employee Benefit Plan sponsored, maintained, or contributed to (or required to be contributed to) by Parent or any of its Subsidiaries, or under or with respect to which Parent or any of its Subsidiaries has any current or contingent liability or obligation.

  • Company Share Plans means, collectively, (i) the 2018 Share Incentive Plan of the Company, which replaced the Company’s 2010 Share Incentive Plan in its entirety, and (ii) the Post-IPO Share Incentive Plan of the Company.

  • Company Employee Plans has the meaning set forth in Section 3.12(a).

  • Company Stock Option Plans shall have the meaning set forth in Section 3.07(a).

  • Parent Plan means an Employee Benefit Plan sponsored, maintained, or contributed to by Parent or its Affiliates or with respect to which Parent or its Affiliates have any liability.

  • EHC plan means an Education, Health and Care plan made under sections 37(2) of the Children and Families Act 2014.

  • Parent Plans has the meaning set forth in Section 6.4(c).

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Parent 401(k) Plan has the meaning set forth in Section 6.6(e).

  • Buyer Party means Buyer or any Affiliate of Buyer that is a party to any Transaction Agreement.

  • Buyer Parent has the meaning set forth in the Preamble.

  • Defined Contribution Plan Fraction means a fraction, the numerator of which is the sum of the annual additions to a Participant’s accounts under all Defined Contribution Plans maintained by one or more Affiliated Companies, and the denominator of which is the sum of the lesser of (i) or (ii) for such Plan Year and for each prior Plan Year of Service with one or more Related Companies, where (i) is the product of 1.25 multiplied by the dollar limitation in effect under Section 415(c)(1)(A) of the Code for the Plan Year (determined without regard to Section 415(c)(6) of the Code), and (ii) is the product of 1.4 multiplied by the amount which may be taken into account under Section 415(c)(1)(B) of the Code (or Section 415(c)(7) of the Code, if applicable) with respect to the Participant for the Plan Year. Solely for purposes of this definition, contributions made directly by an Employee to a Defined Benefit Plan which maintains a qualified cost-of-living arrangement as such term is defined in Section 415(k)(2) shall be treated as Annual Additions. Notwithstanding the foregoing, the numerator of the Defined Contribution Plan Fraction shall be adjusted pursuant to Treasury Regulations 1.415-7(d)(1) and Questions T-6 and T-7 of Internal Revenue Service Notice 83-10.

  • Company Stock Option Plan means each share option plan, share award plan, share appreciation right plan, phantom share plan, share option, other equity or equity-based compensation plan, equity or other equity based award to any employee, whether payable in cash, shares or otherwise (to the extent not issued pursuant to any of the foregoing plans), or other plan or contract of any nature with any employee pursuant to which any share, option, warrant or other right to purchase or acquire shares of the Company or right to payment based on the value of Company shares has been granted or otherwise issued.