Non-U.S. Benefit Plan definition

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

Non-U.S. Benefit Plan means a Benefit Plan that is maintained primarily for the benefit of current or former employees or other individual service providers outside of the United States.

Non-U.S. Benefit Plan means any plan, fund (including any superannuation fund) or other similar program established or maintained outside the United States by any Account Party or any of their Subsidiaries, with respect to which such Account Party or such Subsidiary has an obligation to contribute, for the benefit of employees of such Account Party or such Subsidiary, which plan, fund or other similar program provides, or results in, the type of benefits described in Section 3(1) or 3(2) of ERISA, and which plan is not subject to ERISA or the Code.

Examples of Non-U.S. Benefit Plan in a sentence

• The Company and its Subsidiaries have no material unfunded liabilities with respect to any such Non-U.S. Benefit Plan.

• The Company and its Subsidiaries have no material unfunded liabilities with respect to any such Company Non-U.S. Benefit Plan.

• Each Non-U.S. Benefit Plan has been operated in full compliance with all applicable non-United States laws.

• The Company and its subsidiaries have no material unfunded liabilities with respect to any such Company Non-U.S. Benefit Plan.

• All unpaid contributions, insurance premiums, taxes, or other liabilities or charges with respect to any Target Benefit Plan or any Non-U.S. Benefit Plan attributable to periods prior to the Closing Date, including, to the extent required to be accrued on the Target Financial Statements under GAAP consistently applied, the pre-Closing portion of any period ending after the Closing Date, have been accrued and properly reflected as liabilities on Target Financial Statements.

More Definitions of Non-U.S. Benefit Plan

Non-U.S. Benefit Plan means, with respect to an entity, each plan, program, policy, agreement, arrangement or understanding that is maintained primarily for the benefit of employees outside of the United States and is a deferred compensation, executive compensation, incentive bonus or other bonus, pension, profit sharing, savings, retirement, severance pay, salary continuation, life, death benefit, health, hospitalization, sick leave, vacation pay, disability or accident insurance or other employee benefit plan, program, agreement or arrangement, sponsored, maintained or contributed to by such entity or to which such entity is a party or under which such entity has any obligation; provided that no Timken Equity Compensation Award, nor any plan under which any such Timken Equity Compensation Award is granted, will constitute a “Non-U.S. Benefit Plan” under this Employee Matters Agreement. In addition, no Employment Agreement will constitute a Non-U.S. Benefit Plan for purposes hereof.

Non-U.S. Benefit Plan means a Plan that is not subject exclusively to United States Law.

Non-U.S. Benefit Plan means each Company Benefit Plan that covers current or former Service Providers who are located primarily outside of the United States.

Non-U.S. Benefit Plan means any plan, fund (including any superannuation fund) or other similar program established or maintained outside the United States by any Borrower or any of their Subsidiaries, with respect to which such Borrower or such Subsidiary has an obligation to contribute, for the benefit of employees of such Borrower or such Subsidiary, which plan, fund or other similar program provides, or results in, the type of benefits described in Section 3(1) or 3(2) of ERISA, and which plan is not subject to ERISA or the Code.

Non-U.S. Benefit Plan means any Benefit Plan or other benefit or compensation plan, program, agreement or arrangement that is sponsored, contributed to, or maintained by, or required to be contributed, or with respect to which any potential liability is borne by Seller or any of its Subsidiaries for the benefit of Business Employees outside of the United States of America or in which Business Employees outside of the United States of America participate.

Non-U.S. Benefit Plan shall have the meaning specified in Section 6.15(c).

Non-U.S. Benefit Plan means all Benefit Plans, contracts and arrangements (statutory, regulatory or otherwise) covering or applicable to non-U.S. employees of Target or any of its subsidiaries.