Company Defined Contribution Plan definition
Examples of Company Defined Contribution Plan in a sentence
Full time employees are required to participate in the Company Defined Contribution Plan following the completion of two (2) years full time service.
If the Company is required to terminate any Company Defined Contribution Plan, then the Company shall provide to Parent prior to the Closing Date written evidence of the adoption by the Company Board of Directors of resolutions authorizing the termination of such Company Defined Contribution Plan (the form and substance of which resolutions shall be subject to the prior review and approval of Parent, which approval shall not be unreasonably withheld or delayed).
Parent shall cause its tax-qualified defined contribution plan (“Parent Defined Contribution Plan”) to accept eligible rollover distributions (as defined in Section 402(c)(4) of the Code) by Company Employees with respect to account balances distributed to them on or as of the Effective Time by a Company Defined Contribution Plan, including, to the extent permitted under a Company Defined Contribution Plan, outstanding loan balances of all loans with a term of 120 months or less.
The applicable member of the Company Group shall (1) cause Company Defined Contribution Plan to accept the direct rollover of Transferred Employees’ “eligible rollover distributions” (as defined in Section 401(a)(31) of the Code) and (2) use its commercially reasonable efforts to cause Company Defined Contribution Plan to accept the rollover or transfer of Transferred Employees’ outstanding participant loans .
If the Company is required to terminate any Company Defined Contribution Plan, then the Company shall provide to Parent prior to the Closing Date written evidence of the adoption by the Board of Directors the Company of resolutions authorizing the termination of such Company Defined Contribution Plan (the form and substance of which resolutions shall be subject to the prior review and approval of Parent, which approval shall not be unreasonably withheld or delayed).
The terms of the Connecticut General Life Insurance Company Defined Contribution Plan are expressly incorporated therein and shall form a part hereof as fully as if set forth herein except that if more than one election is provided, only that election made by the Employer shall be so incorporated.
Effective as of the Effective Time, the Parent shall cause the Surviving Corporation to amend the Company 401(k) Plan (the "Company Defined Contribution Plan") to the extent necessary to enable Parent Employees who were participants in the Parent Defined Contribution Plan to elect to make rollover distributions to the Company Defined Contribution Plan.
See your EGTRRA Amendment to the Connecticut General Life Insurance Company Defined Contribution Plan Basic Plan Document Number 03.
Prior to the IPO, the Parties shall cooperate to cause the Company Employees to cease their participation in the Lehigh ▇▇▇▇▇▇ Defined Contribution Plan and, upon the establishment of the Company Defined Contribution Plan, each Company Employee shall be eligible to commence participation in the Company Defined Contribution Plan and each Company Employee’s account balance under the Lehigh ▇▇▇▇▇▇ Defined Contribution Plan shall be transferred to the Company Defined Contribution Plan.
If the Company is required to terminate any Company Defined Contribution Plan, then the Company shall provide to Parent prior to the Closing Date written evidence of the adoption by the Board of Directors of the Company of resolutions authorizing the termination of such Company Defined Contribution Plan (the form and substance of which resolutions shall be subject to the prior review and approval of Parent, which approval shall not be unreasonably withheld or delayed).