Group Company Benefit Plan definition

Group Company Benefit Plan means any Benefit Plan sponsored by any of the Group Companies or for which any of the Group Companies is a direct contracting party.

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Group Company Benefit Plan means an “employee benefit plan” as defined in Section 3(3) of ERISA or any similar plan subject to laws of a jurisdiction outside of the United States (whether or not subject to ERISA), or any other plan, policy, program, practice, or agreement (including any employment, bonus, incentive or deferred compensation, employee loan, note or pledge agreement, equity or equity-based compensation, severance, retention, supplemental retirement, change in control or similar plan, policy, program, practice or agreement) providing compensation or other benefits to any current or former director, officer, individual consultant, worker or employee, which are maintained, sponsored or contributed to by any Group Company, or to which such Group Company is a party or has or may have any liability, and in each case whether or not (i) subject to the Laws of the United States, (ii) in writing or (iii) funded, but excluding in each case any statutory plan, program, practice or arrangement that is required under applicable Law and maintained by any Governmental Authority.

Group Company Benefit Plan has the meaning given in paragraph 15.2.4 of Schedule 8;

Examples of Group Company Benefit Plan in a sentence

With respect to each material Group Company Benefit Plan, the Company has made available to SPAC or its Representatives, to the extent applicable, true, complete and correct copies of such Group Company Benefit Plan (or, if not in writing, a written summary of its material terms) and, as applicable, all plan documents, trust agreements, insurance Contracts or other funding vehicles and all amendments or material modifications thereto.
Neither this Clause 6.7 nor any other provision of this Agreement shall create any third-party beneficiary or other rights in any current or former employee, director or other service provider of a Group Company, including rights in respect of any benefits that may be provided under any Group Company Benefit Plan (or any benefit plan which may cover such individuals following the Completion Date) and/or rights to continued employment or service with Purchaser or its Affiliates.
With respect to each Group Company Benefit Plan and Sellers’ Canadian Pension Plan, all required payments, premiums, contributions, distributions, or reimbursements have been made or properly accrued under applicable Laws and the terms of such plan.
The Seller shall use reasonable endeavours to terminate any Group Company Benefit Plan intended to qualify under Section 401(a) of the Code, effective not later than the last Business Day immediately preceding Completion (each such plan, a “Seller 401(k) Plan”).
Except as set forth on Section 5.11(a) of the Sellers Disclosure Letter, since December 31, 2008, or, with respect to the Mexico Companies since the date of incorporation of each of such companies, each Group Company Benefit Plan and Sellers’ Canadian Pension Plan have complied in all material respects with the requirements of all Laws applicable to such plans, and as applicable, the Collective Bargaining Agreement.
Except as disclosed in Section 3.20(e) of the Disclosure Letter, no Group Company Benefit Plan provides any participant with any right to be grossed up, indemnified, or otherwise reimbursed for any fine, penalty, Tax, or other Liability related to any such Group Company Benefit Plan.
No Benefit Plan is a Multiemployer Plan or a plan that is subject to Title IV of ERISA or similar Law, and no Group Company Benefit Plan is a Multiple Employer Plan or a Multiple Employer Welfare Arrangement.
As of the date hereof, Sellers and the Group Companies have not agreed or otherwise committed, whether in writing or otherwise, to adopt any new material employee benefit plan, policy, agreement or arrangement that would constitute a Group Company Benefit Plan or to materially increase or improve the compensation, benefits or terms and conditions of employment or service of any Business Employee, director, consultant or contractor.
Sellers shall, within forty-five (45) Business Days from the date hereof, provide or make available to Buyer each material writing constituting a part of a Group Company Benefit Plan or Canada Business Benefit Plan disclosed in Section 5.11(a) of the Sellers Disclosure Letter, to the extent that such material writing was not provided or made available to Buyer on or prior to the date hereof.
Except as otherwise provided in Section 7.8(b)(iii), the US Company shall not be an ERISA plan sponsor for any Group Company Benefit Plan as of the North America Closing Date.

More Definitions of Group Company Benefit Plan

Group Company Benefit Plan has the meaning given in paragraph 15.2.4 of Schedule 8; *** Denotes confidential information that has been omitted from this exhibit and filed separately with the Securities and Exchange Commission.

Group Company Benefit Plan means an Employee Benefit Plan that is sponsored, maintained, or contributed to by any Group Company. “Group Company Business Employees” means employees of the Group Companies.

Group Company Benefit Plan means any oral or written agreement, plan, program, fund, policy, contract, arrangement or enforceable understanding providing rights to compensation, benefits, pension, retirement, savings, profit sharing, stock bonus, stock option, stock purchase, stock ownership, stock appreciation right, phantom or stock equivalent, bonus, incentive, deferred compensation, hospitalization, housing, maternity, education, medical, dental, vision, vacation, insurance, sick pay, disability, death benefit, severance, supplementary unemployment benefits, perquisites, or similar employee benefits, or any salary reduction agreement, change-of-control agreement, retention agreement, employment agreement or consulting agreement, for the benefit of any current or former Business Employee, director, consultant or contractor with respect to only the Group Companies and the beneficiaries and dependents thereof, which is now maintained or contributed to, as the case may be, by the Group Companies or their ERISA Affiliates, including (i) any “employee benefit plan” (as defined in Section 3(3) of ERISA) and (ii) any “multiemployer plan” (as defined in Section 3(7) of ERISA) but excluding any pension, health or drug plan, workers’ compensation insurance or any other arrangement maintained by a Governmental Authority and required to be provided or funded by Law.