Marathon Benefit Plan definition

Marathon Benefit Plan means every Employee Benefit Plan sponsored, maintained, or contributed to, or required to be contributed to, by Marathon, or any ERISA Affiliate of Marathon, for the benefit of current or former employees of Marathon’s Business in the United States.
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Marathon Benefit Plan means (i) each material “employee benefit plan” as defined in Section 3(3) of ERISA (whether or not subject to ERISA), (ii) each material employment, consulting, severance, change in control, retention or similar plan, agreement, arrangement or policy and (iii) each other material plan, agreement, arrangement or policy (written or oral) providing for compensation, bonuses, perquisites, profit-sharing, equity or equity-related rights, incentive or deferred compensation, paid time off, insurance (including any self-insured arrangements), health or medical benefits, employee assistance program, disability or sick leave benefits, workers' compensation, supplemental unemployment benefits, severance benefits or post-employment or retirement benefits (including compensation, pension, health, medical or life insurance benefits), in each case maintained, sponsored or contributed to by Marathon or any of its Subsidiaries or with respect to which Marathon or any of its Subsidiaries has any direct or indirect Liability.
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Examples of Marathon Benefit Plan in a sentence

  • All contributions, transfers and payments in respect of any Marathon Benefit Plan have been or are fully deductible under the Code.

  • Holdco will use commercially reasonable efforts to give or cause its Subsidiaries to give the Employees credit under the applicable Holdco Plan for amounts paid prior to the Closing Date during the calendar year in which the Closing Date occurs under a corresponding Marathon Benefit Plan or Uniloc Benefit Plan for purposes of applying deductibles, co-payments and out-of-pocket maximums as though such amounts had been paid in accordance with the terms and conditions of the Holdco Plan.

  • No amount payable to any current or former service provider (whether in cash or property or as a result of accelerated vesting) as a result of the execution of this Agreement or the consummation of the Transactions (either alone or together with any other event) under any Marathon Benefit Plan or other compensation arrangement would be nondeductible under Code Section 280G.

  • No Claims with respect to Marathon Benefit Plans (other than routine claims for benefits) or with respect to any fiduciary or other person dealing with any Marathon Benefit Plan are pending or threatened, and neither Marathon nor any ERISA Affiliate of Marathon has any Knowledge of any facts which could give rise to or be expected to give rise to any such actions, suits, investigations or claims.

  • Marathon has furnished to Ashland true and complete copies of the following items relating to each Marathon Benefit Plan: (i) the governing plan documents, including all amendments thereto, (ii) the most recent summary plan description and summary of material modifications, (iii) the most recent Form 5500 Annual Report filed with the Internal Revenue Service, together with attachments thereto, and (iv) if applicable, the most recent actuarial report.

  • Notwithstanding anything in this Section ‎4.6 to the contrary, nothing in this Agreement, whether express or implied, shall be treated as an amendment or other modification of any Marathon Benefit Plan, any Uniloc Benefit Plan or any other employee benefit plans of Marathon or Uniloc, or prevent Holdco or any of its Subsidiaries from amending or terminating any employee benefit plan.

  • Throughout the evaluation engagements, participants were encouraged to examine what success is for them, how they measure it and what strategies they use for achieving success.

  • Except as set forth on Schedule 5.11 to the Marathon Asset Transfer and Contribution Agreement Disclosure Letter, no Marathon Benefit Plan provides, and neither Marathon nor any ERISA Affiliate of Marathon is otherwise obligated to provide, any amount constituting an excess parachute payment (as defined in Section 280G of the Code) with respect to any current or former employee of Marathon’s Business that will become a liability of the Company.

  • Each Marathon Benefit Plan and all related trusts, insurance contracts, and funds have been maintained, funded and administered in substantial compliance in all material respects with all Applicable Laws.

  • No Marathon Benefit Plan is, or at any time was, funded through a welfare benefit fund (within the meaning of Code Section 419(e)), and no benefits under any Marathon Benefit Plan are or at any time have been provided through a voluntary employees' beneficiary association (within the meaning of Code Section 501(c)(9)) or a supplemental unemployment benefit plan (within the meaning of Code Section 501(c)(17)).

Related to Marathon Benefit Plan

  • Pension Benefit Plan means at any time any employee pension benefit plan (including a Multiple Employer Plan, but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained by any member of the Controlled Group for employees of any member of the Controlled Group; or (ii) has at any time within the preceding five years been maintained by any entity which was at such time a member of the Controlled Group for employees of any entity which was at such time a member of the Controlled Group.

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

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Business Benefit Plan means each Benefit Plan that is contributed to, sponsored, maintained or entered into by Seller or a Retained Subsidiary, a Purchased Subsidiary or any Affiliate of any of them for the benefit of any Business Employee.

  • 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.

  • Foreign Benefit Plan means any Employee Benefit Plan established, maintained or contributed to outside of the United States of America or which covers any employee working or residing outside of the United States.

  • Benefit Plan means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.

  • Welfare Benefit Plan means each welfare benefit plan maintained or contributed to by the Company, including, but not limited to a plan that provides health (including medical and dental), life, accident or disability benefits or insurance, or similar coverage, in which Executive was participating at the time of the Change in Control.

  • Canadian Benefit Plan means any plan, fund, program, or policy, whether oral or written, formal or informal, funded or unfunded, insured or uninsured, providing material employee benefits, including medical, hospital care, dental, sickness, accident, disability, life insurance, pension, retirement or savings benefits, under which any Borrower has any liability with respect to any employee or former employee, but excluding any Canadian Pension Plans.

  • Company Benefit Plan has the meaning specified in Section 4.13(a).

  • Group health benefit plan means any health care plan, subscription contract, evidence of

  • 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;

  • Qualified Benefit Plan has the meaning set forth in Section 3.20(c).

  • Company Employee Benefit Plan means each Employee Benefit Plan that is maintained, sponsored or contributed to (or required to be contributed to) by any of the Group Companies or under or with respect to which any of the Group Companies has any Liability.

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

  • Basic health benefit plan means any plan offered to an individual, a small group,

  • 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 Benefit Plan means either a plan described in Section 3(35) of ERISA or a plan subject to the minimum funding standards set forth in Section 302 of ERISA and Section 412 of the Code.

  • Parent Employee Plan means any plan, program, policy, practice, contract, agreement or other arrangement providing for compensation, severance, termination pay, 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 maintained, contributed to, or required to be contributed to, by Parent or any Affiliate for the benefit of any Parent Employee;

  • Canadian Benefit Plans means all material employee benefit plans of any nature or kind whatsoever that are not Canadian Pension Plans and are maintained or contributed to by any Credit Party having employees in Canada.

  • Company Benefit Plans has the meaning set forth in Section 3.16(a).

  • Company Plan means any Benefit Plan: (i) under which any current or former director, officer, employee, consultant or independent contractor of the Company has any present or future right to benefits and that is maintained, sponsored or contributed to by the Company; or (ii) with respect to which the Company has any Liability.

  • Employee Welfare Benefit Plan has the meaning set forth in ERISA Section 3(1).

  • Company 401(k) Plan shall have the meaning set forth in Section 6.09(e).

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

  • Deferred Compensation Plan means any plan, agreement or arrangement maintained by the Company from time to time that provides opportunities for deferral of compensation.