Enterprise 401(k) Plan definition
Examples of Enterprise 401(k) Plan in a sentence
As promptly as practicable after the contributions described in this Section 3.2(c) are made to the HP 401(k) Plan, HP will cause the remaining account balances under the HP 401(k) Plan of the Enterprise Employees who remained employed by an Enterprise Entity immediately prior to the Distribution Date to be transferred in kind to the Enterprise 401(k) Plan and the Enterprise 401(k) Plan Trust.
Enterprise has established the Enterprise 401(k) Plan and the Enterprise 401(k) Plan Trust prior to the date hereof.
HP and Enterprise agree to cooperate in making all appropriate filings and taking all reasonable actions required to implement the provisions of this Section 3.2; provided, that Enterprise acknowledges that it will be responsible for complying with any requirements and applying for any Internal Revenue Service determination letters with respect to the Enterprise 401(k) Plan.
To the extent that Enterprise Employees hold HP Common Shares in the HP Common Share fund under the Enterprise 401(k) Plan, such shares shall continue to be held pursuant to the Enterprise 401(k) Plan following the Distribution Date subject to such limitations as are determined by Enterprise or the applicable fiduciary of the Enterprise 401(k) Plan.
Enterprise hereby makes the following representations and covenants as an inducement to Radiant to cause the Radiant 401(k) Plan to transfer assets and liabilities to the Enterprise 401(k) Plan: The Enterprise 401(k) Plan was executed on .
Enterprise has at all times operated the Enterprise 401(k) Plan in accordance with its terms and applicable provisions of the Code and there is no circumstance that would cause the Enterprise 401(k) Plan to fail to constitute a qualified cash or deferred arrangement as described in Sections 401(k) of the Code from its establishment.
Any elective deferrals, qualified nonelective contributions or qualified matching contributions transferred to the Enterprise 401(k) Plan from the Radiant 401(k) Plan will continue to be subject to the withdrawal restrictions of Section 401(k) of the Code.
Enterprise will make an application to the Internal Revenue Service for an initial favorable determination letter within the time period permitted for such application under Section 401(b) of the Code and will take all action required, including amending the Enterprise 401(k) Plan, to obtain such a favorable letter, a copy of which will be promptly provided to Radiant.
Enterprise shall cause the Enterprise 401(k) Plan to assume and be solely responsible for all Liabilities for plan benefits under the Enterprise 401(k) Plan relating to Enterprise Employees whose accounts are transferred from the HP 401(k) Plan pursuant to this Section 3.2(b) and Section 3.2(c).
The terms of the Enterprise 401(k) Plan and its related trust satisfy the requirements of Sections 401(a), (k) and (m) and related sections of the Internal Revenue Code of 1986 , as amended, and the final and temporary regulations promulgated thereunder (the “Code”) and the plan and the related trust is intended to be tax exempt under Section 501(a) of the Code.