Definition of Benefit Plans Sample Clauses

Definition of Benefit Plans. For purposes of this Section 3.15, the term "Benefit Plan" means any plan, program, arrangement, practice or contract which provides benefits or compensation to or on behalf of employees or former employees of the Company or any "ERISA Affiliate" (as hereinafter defined), whether formal or informal, whether or not written, including but not limited to the following:
Definition of Benefit Plans. For purposes of this Section 3.14, the term "AmeriDyne Benefit Plan" means any plan, program, arrangement, fund, policy, practice or contract which, through which or under which AmeriDyne or a AmeriDyne ERISA Affiliate (as hereinafter defined) provides benefits or compensation to or on behalf of employees or former employees of AmeriDyne or a AmeriDyne ERISA Affiliate, whether formal or informal, whether or not written, including but not limited to the following:
Definition of Benefit Plans. For purposes of this Section 3.14, the termCompany Benefit Plan” means any plan, program, arrangement, fund, policy, practice or contract which, through which or under which an Acquired Company or any Company ERISA Affiliate (as hereinafter defined) provides benefits or compensation to or on behalf of an employee or employees or former employees of an Acquired Company or any Company ERISA Affiliate, whether formal or informal, whether or not written, including but not limited to the following:
Definition of Benefit Plans. For purposes of this Section 3.13, the term "Premenos Benefit Plan" means any plan, program, arrangement, fund, policy, practice or contract which, through which or under which Premenos or any Premenos ERISA Affiliate provides or has an obligation to provide benefits or compensation to or on behalf of employees or former employees of Premenos or any Premenos ERISA Affiliate, whether formal or informal, whether or not written, including but not limited to the following: (i) Arrangements -- any bonus, incentive compensation, stock option, deferred compensation, commission, severance pay, golden parachute or other compensation plan or rabbi trust; (ii) ERISA Plans -- any "employee benefit plan" (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA")), including, but not limited to, any multiemployer plan (as defined in Section 3(37) and Section 4001(a) (3) of ERISA), defined benefit plan, profit sharing plan, money purchase pension plan, 401(k) plan, savings or thrift plan, or any plan, fund, program, arrangement or practice providing for medical (including post-retirement medical), hospitalization, accident, sickness, disability, or life insurance benefits; and (iii) Other Employee Fringe Benefits -- any stock purchase, vacation, scholarship, sick days, day care, prepaid legal services, dependent care or other fringe benefits plans, programs, arrangements, contracts or practices. A-17 18 (b) Premenos ERISA Affiliate. For purposes of this Section 3.13, the term "Premenos ERISA Affiliate" means each trade or business (whether or not incorporated) which together with Premenos is treated as a single employer under Section 414(b), (c), (m) or (o) of the Code. (c)
Definition of Benefit Plans. For purposes of this Section 3.13, the term "CIS Benefit Plan" means any plan, program, arrangement, fund, policy, practice or contract which, through which or under which CIS or a CIS ERISA Affiliate (as hereinafter defined) provides benefits or compensation to or on behalf of employees or former employees of CIS or a CIS ERISA Affiliate (as hereinafter defined), whether formal or informal, whether or not written, including but not limited to the following:
Definition of Benefit Plans. For purposes of this --------------------------- Section 2.12, the term "Benefit Plan" means any plan, program, arrangement, fund, policy, practice or contract which, through which or under which Lichtin Properties provides benefits or compensation to or on behalf of employees or former employees of Lichtin Properties, whether formal or informal, and whether written or not written.
Definition of Benefit Plans. For purposes of this Section 3.14, the term "Supply Tech Benefit Plan" means any plan, program, arrangement, fund, policy, practice or contract which, through which or under which Supply Tech or any Supply Tech ERISA Affiliate provides benefits or compensation to or on behalf of employees or former employees of Supply Tech or any Supply Tech ERISA Affiliate, whether formal or informal, whether or not written, including but not limited to the following:

Related to Definition of Benefit Plans

  • Termination of Benefit Plans Effective as of the day immediately preceding the Closing Date, the Company shall terminate all Company Employee Plans that are “employee benefit plans” subject to ERISA including any Company Employee Plans intended to include a Code Section 401(k) arrangement (unless Buyer provides written notice to the Company no later than three Business Days prior to the Closing Date that such 401(k) plans shall not be terminated). Unless Buyer provides such written notice to the Company, no later than three Business Days prior to the Closing Date, the Company shall provide Buyer with evidence that such Company Employee Plan(s) have been terminated (effective no later than the day immediately preceding the Closing Date) pursuant to resolutions of the Company Board. The form and substance of such resolutions shall be subject to review and approval of Buyer. The Company also shall take such other actions in furtherance of terminating such Company Employee Plan(s) as Buyer may reasonably require. In the event that termination of the Company’s 401(k) Plan would reasonably be anticipated to trigger liquidation charges, surrender charges or other fees then the Company shall take such actions as are necessary to reasonably estimate the amount of such charges and/or fees and provide such estimate in writing to Buyer no later than ten Business Days prior to the Closing Date.

  • Cessation of Benefits An employee shall cease to be eligible for benefits of this Plan at the earliest of the following dates:

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • No Duplication of Benefits For the avoidance of doubt, in no event will Executive be entitled to benefits under Section 4.4.3(i) and Section 4.4.3(ii). If Executive commences to receive benefits under Section 4.4.3(i) due to a qualifying termination prior to a Change in Control and thereafter becomes entitled to benefits under Section 4.4.3(ii), any benefits previously provided to Executive under Section 4.4.3(i) shall offset the benefits to be provided to Executive under Section 4.4.3(ii) and shall be deemed to have been provided to Executive pursuant to Section 4.4.3(ii).

  • Non-Duplication of Benefits Executive is not eligible to receive benefits under this Agreement more than one time.

  • Limitation of Benefits It is the intention of the parties that no payment be made or benefit provided to the Executive that would constitute an "excess parachute payment" within the meaning of Section 280G of the Code and any regulations thereunder, thereby resulting in a loss of an income tax deduction by CFF or the imposition of an excise tax on the Executive under Section 4999 of the Code. If the independent accountants serving as auditors for CFF immediately prior to the date of a Change of Control determine that some or all of the payments or benefits scheduled under this Agreement, when combined with any other payments or benefits provided to the Executive on a Change of Control, would constitute nondeductible excess parachute payments by CFF or any affiliate under Section 280G of the Code, then the payments or benefits scheduled under this Agreement will be reduced to one dollar less than the maximum amount which may be paid or provided without causing any such payments or benefits scheduled under this Agreement or otherwise provided on a Change of Control to be nondeductible. The determination made as to the reduction of benefits or payments required hereunder by the independent accountants shall be binding on the parties. The Executive shall have the right to designate within a reasonable period which payments or benefits will be reduced; provided, however, that if no direction is received from the Executive, CFF shall implement the reductions by reducing or eliminating payments required under this Agreement.

  • Termination of 401(k) Plan Effective as of the day immediately preceding the Closing Date, each of the Company and any ERISA Affiliate shall terminate any and all Company Employee Plans intended to include a Code Section 401(k) arrangement (each, a “401(k) Plan”) (unless Parent provides written notice to the Company that such 401(k) Plans shall not be terminated). Unless Parent provides such written notice to the Company, no later than five (5) business days prior to the Closing Date, the Company shall provide Parent with evidence that such Company Employee Plan(s) have been terminated (effective as of the day immediately preceding the Closing Date) pursuant to resolutions of the Board of Directors of the Company or such Affiliate, as the case may be. The form and substance of such resolutions shall be subject to the reasonable review and approval of Parent. The Company also shall take such other actions in furtherance of terminating such Company Employee Plan(s) as Parent may reasonably require. In the event that termination of a 401(k) Plan would reasonably be anticipated to trigger liquidation charges, surrender charges or other fees then the Company shall take such actions as are necessary to reasonably estimate the amount of such charges and/or fees and provide such estimate in writing to Parent no later than fifteen (15) calendar days prior to the Closing Date.

  • Calculation of Benefits Immediately following delivery of any Notice of Termination, the Company shall notify the Executive of the aggregate present value of all termination benefits to which he would be entitled under this Agreement and any other plan, program or arrangement as of the projected Date of Termination, together with the projected maximum payments, determined as of such projected Date of Termination that could be paid without the Executive being subject to the Excise Tax.

  • Nonduplication of Benefits Notwithstanding any provision in this Agreement or in any other Employer benefit plan or compensatory arrangement to the contrary, but at all times subject to Section 7.4, (a) any payments due under Section 7.1, Section 7.2 or Section 7.3 shall be made not more than once, if at all, (b) payments may be due under Section 7.1, Section 7.2 or Section 7.3, but under no circumstances shall payments be made under all of or any combination of Section 7.1, Section 7.2 and Section 7.3, (c) no payments made under Sections 7.1, 7.2 and 7.3 this Agreement shall be considered compensation for purposes of any benefit plan or compensatory arrangement of Employer, and (d) Executive shall not be entitled to severance benefits from Employer other than as contemplated under this Agreement, unless such other severance benefits offset and reduce the benefits due under this Agreement on a dollar-for-dollar basis, but not below zero.

  • Description of Benefits During the term of employment under this Agreement, the Executive will be entitled to participate in all employee incentive, pension and welfare benefit plans and programs made available generally to other senior executives of the Company, as such plans or programs may be in effect from time to time (including, without limitation, incentive equity, profit sharing, savings and other pension and retirement plans or programs, medical, dental, hospitalization, short-term and long-term disability and life insurance plans, accidental death and dismemberment protection, and any other pension or retirement plans or programs and any other employee incentive compensation plans, employee welfare benefit plans or programs that may be sponsored by the Company from time to time and provided that Executive meets the eligibility requirements and other terms, conditions and restrictions of the respective plans and programs, including any plans that supplement the above-listed types of plans or programs, whether funded or unfunded). Payment for such coverages will be the sole responsibility of the Executive, unless the Company makes such coverages available to similarly situated executives on a shared cost basis. In addition, the Executive will be entitled to 4 weeks of paid vacation per year. The Company will pay for all reasonable expenses actually incurred by the Executive directly in connection with the business affairs of the Company and the performance of his duties hereunder, upon presentation of proper receipts or other proof of expenditure and subject to such reasonable guidelines or limitations provided by the Company from time to time.