Examples of Engility Group in a sentence
XXX Xxxxxxx, LLC The Engility Group also includes any Affiliates of the forgoing that have outstanding equity securities that are owned, directly or indirectly, by any of the foregoing, except for: (i) L-3 Domestic Holdings, Inc.
Effective as of the Distribution, Engility or another member of the Engility Group shall, as applicable in accordance with this Employee Matters Agreement, adopt, continue or, to the extent necessary, assume sponsorship of each Engility Benefit Plan and Engility Employment Agreement.
Without limiting the generality of the preceding sentence, (a) L-3 and Engility shall cooperate in coordinating each of their respective payroll systems in connection with the transfers of Engility Employees to the Engility Group and the Distribution, and (b) L-3 shall transfer records to Engility as reasonably necessary for the proper administration of Engility Benefit Plans, to the extent such records are in L-3’s possession.
Engility or a member of the Engility Group shall be solely responsible for taking all necessary, reasonable, and appropriate actions (including the submission of the Engility Spinoff DC Plan to the Internal Revenue Service for a determination of tax-qualified status) to establish, maintain and administer the Engility Spinoff DC Plan so that it is qualified under Section 401(a) of the Code and that the related trusts thereunder are exempt under Section 501(a) of the Code.
Engility shall cause a member of the Engility Group to retain, or to the extent necessary, assume sponsorship of any Engility Retained Benefit Plans that are Welfare Plans (the “Engility Retained Welfare Plans”) and take all necessary actions to continue contributions to the Engility Retained Benefit Plans that are multiemployer Welfare Plans.
L-3 and Engility shall cooperate in good faith so that the Distribution will not result in adverse tax consequences under Code Section 409A to any current or former employee of any member of the L-3 Group or any member of the Engility Group, or their respective Plan Payees, in respect of his or her benefits under any L-3 Benefit Plan or Engility Benefit Plan.
Except as specifically provided in Section 6.5, Engility or a member of the Engility Group shall be solely responsible for taking all necessary, reasonable, and appropriate actions to establish, maintain and administer the Engility Spinoff Nonqualified Plans so that they do not result in adverse tax consequences under Code Section 409A.
Effective as of the Distribution, except as otherwise specifically provided in this Employee Matters Agreement, (a) the Engility Group shall be solely responsible for all Engility Employee Liabilities and the L-3 Group shall not retain any Engility Employee Liabilities and (b) the L-3 Group shall be solely responsible for all L-3 Employee Liabilities and the Engility Group shall not retain any L-3 Employee Liabilities.
In addition, if a Delayed Transfer Employee transfers from the Engility Group to the L-3 Group prior to October 1, 2012, the L-3 Group shall assume and be solely responsible, pursuant to the terms of the applicable Split Nonqualified Plan, for any benefits accrued by such individual under any Engility Spinoff Nonqualified Plan, and the Engility Group shall have no liability with respect thereto.
As of the Distribution, Engility (acting directly or through a member of the Engility Group) shall cause each Engility Spinoff Nonqualified Plan to recognize and maintain all elections, including, but not limited to, deferral and payment form elections, beneficiary designations, and the rights of alternate payees under qualified domestic relations orders with respect to Engility Employees, Engility Ex-Employees and their Plan Payees under the corresponding Split Nonqualified Plan.