Seller Employee Plans definition

Seller Employee Plans means all stock option, employee stock purchase and stock bonus plans, qualified pension or profit-sharing plans, any deferred compensation, consultant, bonus or group insurance contract or any other incentive, health and welfare or employee benefit plan or agreement maintained for the benefit of employees or former employees of Seller, or any Seller Subsidiary, whether written or oral.

Seller Employee Plans means any health, welfare, medical, dental, pension, retirement, profit sharing, incentive compensation, deferred compensation, equity compensation, savings, fringe benefit, paid time off, severance, life insurance and disability plan, program, agreement or arrangement (whether written or oral), including each “employee benefit plan” within the meaning of Section 3(3) of ERISA, that is sponsored, maintained or contributed to by Seller or its Affiliates for the Business Employees, other than the plans established pursuant to statute.

Seller Employee Plans means all plans and programs maintained by or on behalf of Employer for the health, welfare or benefit of any Employees and/or their respective spouses, dependents or other qualified beneficiaries, including, without limitation, the Seller 401(k) Plan.

Examples of Seller Employee Plans in a sentence

• Nothing contained herein, express or implied, constitutes an amendment or modification to Seller Employee Plans or Seller policies, programs or arrangements.

• No Seller Employee Plans or assets of any Seller Employee Plans shall be transferred to Buyer or any Affiliate of Buyer.

• Buyer shall not assume, and Seller shall remain exclusively obligated to discharge, all liabilities and obligations of Seller (whether known or unknown, including but not limited to any liabilities incurred with respect to the Seller Employee Plans) other than the Assumed Liabilities (collectively, the “Excluded Liabilities”).

• Schedule 4.20 contains a complete list of all current Seller Employee Plans and all former Seller Employee Plans under which Acquiror may incur any liability.

• Except as required by applicable Law and as otherwise provided in this Article VII or in Section 5.12(a), as of the applicable Effective Hire Date, the Transferred Employees shall cease to accrue further benefits under the Seller Employee Plans (other than the Seller Employee Plans maintained by the Transferred Subsidiary) and shall commence participation in the Purchaser Employee Plans, subject to the terms and conditions of such Purchaser Employee Plans.

More Definitions of Seller Employee Plans

Seller Employee Plans means those Employee Plans maintained by Seller or its Affiliates (other than the Company or the Subsidiaries) for the benefit of current or former employees of Seller and its Affiliates as of the date of this Agreement.

Seller Employee Plans has the meaning set forth in Section 4.16(a).

Seller Employee Plans shall have the meaning set forth in Section 3.14(a) hereof.

Seller Employee Plans has the meaning ascribed to it in Section 2.12(a).

Seller Employee Plans means all plans and programs maintained by or on behalf of Employer for the health, welfare or benefit of any Employees and/or their respective spouses, dependents or other qualified beneficiaries, including, without limitation, any employee plans maintained pursuant to Section 401(k) of the Code.

Seller Employee Plans means all “employee benefit plans” within the meaning of Section 3(3) of ERISA, all formal written plans and all other compensation and benefit plans, contracts, policies, programs and arrangements of the Seller or any Seller Subsidiary (other than routine administrative procedures) in connection with the Business in effect as of the date hereof, including all bonus, stock bonus, stock option or other cash or equity-based incentive or deferred compensation, severance pay and medical and life insurance plans in which any of the Business Employees or their dependents participate, as applicable and if any.

Seller Employee Plans has the meaning set forth in Section 3.02(n)(1).