Seller Employee Plan definition

Seller Employee Plan means any plan, program, policy, practice, Contract 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, unwritten or otherwise, funded or unfunded, including each “employee benefit plan,” within the meaning of Section 3(3) of ERISA (whether or not ERISA is applicable to such plan), that is or has been maintained, contributed to, or required to be contributed to, by the Seller or any Seller Affiliate for the benefit of any Seller Employee, or with respect to which the Seller or any Seller Affiliate has or may have any liability or obligation, except such definition shall not include any Seller Employee Agreement.

Seller Employee Plan means any plan, program, policy, practice, contract, agreement or other arrangement (written or oral) providing for deferred compensation, profit sharing, bonus, severance, termination pay, performance awards, stock or stock-related awards, fringe benefits, welfare, pension or other employee benefits or remuneration of any kind, whether formal or informal, funded or unfunded, including 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 Seller or any Insignia Subsidiary or ERISA Affiliate for the benefit of any current or former Employee, or pursuant to which Seller or any of the Insignia Subsidiaries has or may have any material liability contingent or otherwise.

Seller Employee Plan means each Employee Plan that is not an Assumed Employee Plan.

Examples of Seller Employee Plan in a sentence

• No Seller Employee Plan provides medical, health, dental or life benefits (whether or not insured), after an employee’s or other service provider’s termination of employment or service other than COBRA Coverage and other coverage required by applicable Law, the full cost of which is borne by the former employee of Seller and/or his or her qualified beneficiaries.

• All contributions, distributions, accruals, reimbursements and premium payments due with respect to each Seller Employee Plan have been timely made and all contributions, distributions, accruals, reimbursements and premium payments for any period ending on or before the Closing Date that are not yet due have been made or properly accrued.

• Notwithstanding any contrary provision of this Agreement, Sellers shall be responsible and liable for providing, or continuing to provide, health care continuation coverage as required under COBRA with respect to any individual who experienced a COBRA “qualifying event” on or prior to the Closing Date under any Seller Employee Plan subject to COBRA.

• Each Seller Employee Plan that is intended to be qualified under Section 401(a) of the Code has either received a favorable determination letter from the IRS or may rely on a favorable opinion letter issued by the IRS.

• Each Seller Employee Plan has been established, maintained, administered and funded in all material respects in compliance with its terms and with the requirements of applicable Law, including ERISA and the Code.

More Definitions of Seller Employee Plan

Seller Employee Plan means each Employee Plan (a) that is sponsored,maintained or required to be contributed to by NRGWG or any of its subsidiaries and (b) that covers any Business Employee or in which any Business Employee participates.

Seller Employee Plan shall have the meaning set forth in Section 4.19(a)(i) hereto.

Seller Employee Plan shall have the meaning set forth in Section 3.14(a)(xii).

Seller Employee Plan means each plan, program, policy, practice, contract, agreement or other arrangement providing for employment, compensation, retirement, deferred compensation, severance, retention, change in control, incentive compensation (equity or otherwise), stock fringe benefits, cafeteria benefits or other benefits whether written or unwritten, including each “employee benefit plan” within the meaning of Section 3(3) of ERISA, whether or not subject to ERISA, which is sponsored, maintained, contributed to or required to be contributed to by Seller for the benefit of any current or former employee of Seller or with respect to which Seller has or may have any liability.

Seller Employee Plan means any Employee Plan that (i) is or has been entered into, sponsored, maintained, administered or contributed to, as the case may be, by any Seller, the Company or any of their respective Affiliates and (ii) covers any Company Employee or former employee of the Company.

Seller Employee Plan means any “employee benefit plan” within the meaning of Section 3(3) of ERISA and any other employee benefit or compensation plan, program, policy or arrangement, including any employment contract, deferred compensation, severance, stock option, stock purchase, stock-based, incentive, bonus, pension, retiree medical, disability and life insurance, fringe benefit, sabbatical, supplemental retirement, profit sharing, termination indemnity, jubilee payment, seniority premium, or 13th or 14th month bonus plan, program, policy or arrangement that is maintained or otherwise contributed to, required to be maintained by or contributed to, or sponsored by or on behalf of, Seller or any of its Subsidiaries or Affiliates, or under which Seller or any of its Subsidiaries or Affiliates has any obligation with respect to any Employee or any beneficiary or dependent thereof.

Seller Employee Plan shall have the meaning ascribed to such term in Section 5.16(a).