Employee Arrangements. (a) The Company shall (i) take all appropriate corporate action to cease, effective at the Effective Time, all benefit accruals under and terminate, effective prior to the Effective Time, any 401(k) plans and (ii) take all appropriate corporate action to terminate, effective prior to the Effective Time, the Employee Stock Purchase Plan and return unused contributions to participants.
Appears in 3 contracts
Samples: Agreement and Plan of Merger (Promotions Com Inc), Agreement and Plan of Merger (Ivillage Inc), Agreement and Plan of Merger (Ivillage Inc)