Applicable Plans Clause Samples
The "Applicable Plans" clause defines which specific plans, policies, or benefit programs are covered or referenced within an agreement. It typically lists or describes the particular plans that apply to the parties, such as health insurance, retirement benefits, or other employee programs, and may clarify eligibility or participation requirements. This clause ensures that all parties have a clear understanding of which plans are included under the agreement, thereby preventing confusion or disputes about coverage and obligations.
Applicable Plans. Each CBC Equity Award that is assumed and converted into an award with respect to SCB Common Stock pursuant to this Section 3.07 (an “Assumed Award”) may be assumed and/or issued as a substitute award under the Southern California Bancorp 2019 Omnibus Equity Incentive Plan Incentive Plan (or another equity incentive plan of SCB), if so determined by the SCB Board, instead of remaining subject to the applicable CBC Equity Plan pursuant to which it was issued.
Applicable Plans. For purposes of this Article XV, “Applicable Plans” shall include (a) each plan of an Employer or Affiliate in which a Key Employee (as defined in Section 15.1.2 for this Plan, and as defined in section 416(i) of the Code for each other Applicable Plan) participates during the five (5)-year period ending on such plan's “determination date” (as described in Section 15.1.4 below) and (b) each other plan of an Employer or Affiliate which, during such period, enables any plan in clause (a) of this sentence to meet the requirements of section 401(a)(4) or 410 of the Code. Any plan not required to be included under the preceding sentence may also be included, at the option of the Company, provided that the requirements of sections 401(a)(4) and 410 of the Code continue to be satisfied for the group of Applicable Plans after such inclusion. Applicable Plans shall include terminated plans, frozen plans, and to the extent that benefits are provided with respect to service with an Employer or an Affiliate, multiemployer plans (described in section 414(f) of the Code) and multiple employer plans (described in section 413(c) of the Code) to which an Employer or an Affiliate makes contributions.
Applicable Plans. During the term of this Exhibit, AssuredPartners (AP) shall provide the services described in this Exhibit 1 for those employee benefit plans