NOV Benefit Plan definition

NOV Benefit Plan means any Benefit Plan sponsored, maintained, or participated in by NOV Inc. or any of its ERISA Affiliates and under or with respect to which any current or former employee, director or individual independent contractor who provides services exclusively to the Company or the Business, including any Employee, has any present or future right to benefits.
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NOV Benefit Plan means any Benefit Plan sponsored or maintained by a NOV Entity immediately prior to the Distribution Date.
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Examples of NOV Benefit Plan in a sentence

  • Except as otherwise provided under applicable Law, the applicable NOV Benefit Plan or this Agreement or in the Transition Services Agreement, effective as of the Distribution Date or Transfer Date, SpinCo Group Employees and Post Distribution Transferred Employees, respectively, shall cease participating in any NOV Benefit Plan.

  • All benefits accrued in any unfunded NOV Benefit Plan have been paid, accrued or otherwise adequately reserved to the extent required by, and in accordance with, GAAP.

  • None of the Company, any Subsidiary, Buyer or any of Buyer’s Affiliates will have any liability for any pre-Closing Date premiums, contributions or benefit accruals to any NOV Benefit Plan or Company Plan after the Closing Date, and none of the Company, any Subsidiary, Buyer or any of Buyer’s Affiliates will have any other liability of any kind with respect to the pre-Closing operation or benefit obligations of any NOV Benefit Plan or any Company Plan.

  • The table compares the performance of the original C versions (column C) against the Eiffel translations with C2Eif (column T), and, for the simpler examples, against manually written Eiffel implementations (column E) that transliterate the original C implementations using the closest Eiffel constructs (for example, putchar be- comes Io.put character) with as little changes as possible to the code structure.

  • Except as set forth in Section 4.9(a) of the Disclosure Schedules, the Company does not provide access or benefits under any Company Plan or NOV Benefit Plan to Union Employees.

  • Neither Company nor any Subsidiary have acted as a Plan administrator, fiduciary or trustee of any NOV Benefit Plan.

  • No Action has been initiated by the Pension Benefit Guaranty Corporation to terminate any NOV Benefit Plan which is a Single Employer Plan or to appoint a trustee for any such plan; and no “reportable event,” as defined in Section 4043 of ERISA, with respect to which the reporting requirement has not been waived has occurred with respect to any such plan.

  • Nothing contained herein, express or implied, shall be construed to establish, amend or modify any NOV Benefit Plan or any other employee benefit plan, program, agreement or arrangement.

  • Each Company Plan and each NOV Benefit Plan intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS that such Company Plan and NOV Benefit Plan and does so qualify, and any trusts intended to be exempt from federal income taxation under the provisions of Section 501(a) of the Code are so exempt.

  • The inspectors informed Anatec that more formal method for annual training was appropriate.

Related to NOV Benefit Plan

  • 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.

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

  • 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.

  • 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.

  • 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.

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

  • 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”.

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

  • 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.

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

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

  • 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.

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

  • 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;

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

  • 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.

  • 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 Pension Benefit Plan has the meaning set forth in ERISA Section 3(2).

  • Seller Benefit Plans has the meaning set forth in Section 4.8(a).

  • Buyer Benefit Plans has the meaning set forth in Section 6.10(f).

  • 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.

  • Employee Plan means an employee benefit plan within the meaning of Section 3(3) of ERISA (other than a Multiemployer Plan), regardless of whether subject to ERISA, that any Loan Party or any of its ERISA Affiliates maintains, sponsors or contributes to or is obligated to contribute to.