Examples of Xxxxxxx Employees in a sentence
Except as provided in Section 4.1(c), Parent shall not assume any Liability relating to health and welfare claims incurred by or on behalf of Xxxxx Xxxxxxx Employees or their covered dependents on or after the Transition Date, and such claims shall be satisfied pursuant to Section 4.1(a).
All applicable federal taxes are excluded and State of Texas taxes are excluded from the Bid Sum.
Any outstanding participant loans to Xxxxx Xxxxxxx Employees who elect a transfer under the Parent Savings Plan of their account to the Xxxxx Xxxxxxx Savings Plan shall be transferred to the Xxxxx Xxxxxxx Savings Plan in kind.
Effective as of the Distribution Date, Xxxxx Xxxxxxx shall assume and be solely responsible for all Liabilities of Parent for, or relating to, benefits accrued through the Distribution Date by or with respect to Xxxxx Xxxxxxx Employees and Former Xxxxx Xxxxxxx Employees under the Parent Non-Qualified Retirement Plan and the Xxxxx Xxxxxxx Non-Qualified Retirement Plan.
Following the Distribution Date, Xxxxx Xxxxxxx shall use its reasonable best efforts to monitor the Xxxxx Xxxxxxx Employees and Former Xxxxx Xxxxxxx Employees to determine whether any such Xxxxx Xxxxxxx Employees or Former Xxxxx Xxxxxxx Employees have breached any of the restrictive covenants in the agreements evidencing the terms of their Parent Options and Parent Awards.
All Xxxxx Xxxxxxx Employees shall continue to be employees of Xxxxx Xxxxxxx or another Xxxxx Xxxxxxx Entity, as the case may be, immediately after the Distribution.
Xxxxx Xxxxxxx will cause the Xxxxx Xxxxxxx Savings Plan to accept direct and indirect rollovers from the Parent Savings Plan of any account balances of such Xxxxx Xxxxxxx Employees in accordance with the applicable provisions of the Code.
Parent shall be responsible for administering compliance with the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding provisions of the Parent Health and Welfare Plans with respect to Xxxxx Xxxxxxx Employees and their covered dependents who incur a COBRA qualifying event or loss of coverage under the Parent Health and Welfare Plans at any time on or before December 31, 2003.
The Parties shall comply with all requirements and obligations to inform, consult or otherwise notify any Veralto or Xxxxxxx Employees or Employee Representatives in relation to the transactions contemplated by this Agreement and the Separation Agreement, whether required pursuant to any Collective Bargaining Agreement, the Transfer Regulations or other applicable Law.
Effective as of January 1, 2004 (the "TRANSITION DATE"), Xxxxx Xxxxxxx shall adopt Health and Welfare Plans for the benefit of Xxxxx Xxxxxxx Employees, and Xxxxx Xxxxxxx shall be responsible for all Liabilities relating to, arising out of or resulting from health and welfare coverage or claims incurred by or on behalf of Xxxxx Xxxxxxx Employees or their covered dependents under the Xxxxx Xxxxxxx Health and Welfare Plans on or after the Transition Date.