Employment Benefit Plans Sample Clauses

Employment Benefit Plans. Employee may participate in employee benefit plans in which other similarly situated employees may participate, according to the terms of applicable policies and as stated in the Employee Handbook. Employee acknowledges receipt of the Employee Handbook available on the intercompany website and will review and abide by its terms.
Employment Benefit Plans. With respect to any employment benefit plan (as defined in Section 3(3) of ERISA) which the Company maintains, contributes to or has any obligation to contribute to, or with respect to which the Company has any liability, contingent or otherwise (a “Plan”), no prohibited transactions (as defined in Section 406 of ERISA, or Section 4975 of the Internal Revenue Code of 1986, as amended from time to time (the “Code”)) has occurred, no “accumulated funding deficiency” (as defined in Section 302 of ERISA) or any of the events set forth in Section 4043(c) of ERISA (other than events with respect to which the 30-day notice requirement under Section 4043 of ERISA has been waived) has occurred, exists or is reasonably expected to occur with respect to any Plan that would reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect; each Plan is in compliance in all material respects with applicable law, including ERISA and the Code; the Company has not (i) failed to timely make all required contributions to each Plan that is an “employee benefit pension plan” within the meaning of Section 3(2) of ERISA, or (ii) incurred or expects to incur liability under Title IV of ERISA with respect to the termination of, or withdrawal from, any Plan; and each Plan that is intended to be qualified under Section 401(a) of the Code is so qualified, and nothing has occurred, whether by action or failure to act, which could reasonably be expected to cause a loss of such qualification.
Employment Benefit Plans. No member of the Group is a party to or bound by any currently effective employment contract, deferred compensation arrangement, bonus plan, incentive plan, profit sharing plan, retirement agreement or other employee or consultant compensation plan or agreement. No employee of any member of the Group has been granted the right to continued employment by such member of the Group or to any material compensation following termination of employment with such member of the Group.
Employment Benefit Plans. Seller has Previously Disclosed true and complete copies of all qualified pension or profit-sharing plans, any deferred compensation, consulting, bonus or group insurance contract or any other incentive, welfare or employee benefit plan or agreement maintained for the benefit of employees or former employees of the Company or any Subsidiary (collectively, the "Plans"). No liability under Title IV of the Employment Retirement Income Security Act of 1974, as amended ("ERISA") has been incurred by the Company or any of its Subsidiaries that has not been satisfied in full, and no condition exists that presents a material risk of the Company or any Subsidiary incurring any such liability. With respect to each Plan that is subject to Title IV of ERISA, the present value of accrued benefits under such Plan, based upon the actuarial assumptions used for funding purposes in the most recent actuarial report prepared with respect to such Plan, did not, as of the valuation date used in such report, exceed the current value of such Plan's assets allocable to such accrued benefits, and no material adverse change in the funded status of any such Plan has occurred since such valuation date. Full payment has been made of all amounts that the Company or any of its Subsidiaries is required to pay under section 412 of the Code or under the terms of the Plans. To the Seller's Knowledge, each Plan that is intended to be "qualified" within the meaning of section 401(a) of the Code is so qualified and each Plan that is intended to satisfy the requirements of section 125 or 501(c) (9) of the Code satisfies such requirements. Each of the Plans has been operated and administered in all material respects in accordance with its terms and applicable laws. There are no actions, suits, claims, or actions pending, or, to the Seller's Knowledge, threatened or anticipated (other than routine claims for benefits) against any Plan or any related trust or against the Company or any of its Subsidiaries. None of the Plans is the subject of an audit, investigation, or examination by the IRS, Pension Benefit Guaranty Corporation, Department of Labor or any other Governmental Entity. None of the Plans is a multiemployer plan within the meaning of section 3(37) of ERISA.