{"component": "clause", "props": {"groups": [{"size": 12, "snippet": "a. In accordance with section 11.1 of the State Financial Services Corporation Employee Stock Ownership Plan (the \u201cESOP\u201d), as of the Effective Time, the Company shall make a contribution to the ESOP which is equal to the amount the Company would have contributed to the ESOP pursuant to Section 3.2(a) of the ESOP as if the date of the Effective Time were the last day of a Plan Year (in no event less than the amount needed to pay the current obligation under the Exempt Loan, as defined in the ESOP) and shall cause the Trustee of the ESOP to use the full amount of such contribution promptly to repay a portion of the outstanding Exempt Loan. As a result of the aforementioned contribution and repayment, the Company shall take such action as may be necessary or appropriate to cause shares of Company Common Stock to be released from the suspense account maintained under the ESOP and allocated to the accounts of Participants (as defined in the ESOP), together with any amounts previously forfeited but unallocated, as if the Effective Time were the last day of the Plan Year, but applying the 1000 hour requirement of Section 3.2(b) by multiplying 1000 by a fraction, the numerator of which is the days elapsed from the first day of the current Plan year to and including the Effective Time and the denominator of which is 365.\nb. At and after the Effective Time unless another manner is required by the ESOP (which Associated will not amend except to the extent deemed necessary by the Internal Revenue Service (the \u201cService\u201d) to maintain the ESOP\u2019s qualification under Code section 401(a)) or as required by the Service as a condition to its issuance of a favorable determination letter regarding the qualified status of the ESOP upon its termination:\ni. all ESOP Account balances shall become fully vested and nonforfeitable. Further entry into the ESOP shall be frozen;\nii. the Company shall promptly cause the Trustees of the ESOP to sell, from the suspense account maintained under the ESOP, shares of stock of Associated with an aggregate value equal to the remaining outstanding ESOP indebtedness, after giving effect to the repayment described in paragraph (a) hereof, and to use the proceeds of such sale to repay in full all such outstanding ESOP indebtedness;\niii. to cause those shares of Associated Common Stock (and any cash) remaining in the suspense account maintained under the ESOP, after giving effect to the aforementioned sale (the \u201cRemaining Shares\u201d), to be allocated first, to all Participants who are employed by the Company on Effective Time and who have completed the prorated 1000 Hour of Service requirement referred to above, to the extent that such allocation does not exceed 20% of the Participant\u2019s Compensation (as defined in the ESOP) for the portion of the year preceeding the Effective Time or, if less, the individual\u2019s limitation under Internal Revenue Code (the \u201cCode\u201d) Section 415, and the balance will be allocated as earnings with respect to all account balances under the Plan; and\niv. the ESOP shall be terminated and a favorable letter from the Service regarding its continued qualification shall be applied for as soon as administratively reasonable following the Effective Time and the account balances of all Participants shall be distributed in a lump sum (or transferred in accordance with Section 401(a)(31) of the Code) as soon as administratively prudent and consistent with any requirements in the determination letter from the Service, following the date of receipt of such favorable determination letter from the Service. Distributions shall be in the form of Associated Common Stock if elected by the Participant. Associated may permit Participants who so elect to transfer their ESOP account balances to the 401(k) plan, or Associated\u2019s 401(k) plan, if the Company\u2019s has been merged into Associated\u2019s, provided the Participant is then an active Participant in such plan.\nc. The fees and expenses of administration of the ESOP shall be paid consistent with the historic practice, if any, of the ESOP and the Company.", "samples": [{"hash": "lc73xqE6265", "uri": "/contracts/lc73xqE6265#esop", "label": "Merger Agreement (Associated Banc-Corp)", "score": 21.0, "published": true}, {"hash": "dG84O3Wn9ub", "uri": "/contracts/dG84O3Wn9ub#esop", "label": "Merger Agreement (State Financial Services Corp)", "score": 21.0, "published": true}, {"hash": "7xrn8uPZmtx", "uri": "/contracts/7xrn8uPZmtx#esop", "label": "Merger Agreement (Associated Banc-Corp)", "score": 21.0, "published": true}], "snippet_links": [{"key": "in-accordance-with", "type": "clause", "offset": [3, 21]}, {"key": "section-111", "type": "clause", "offset": [22, 34]}, {"key": "the-state", "type": "clause", "offset": [38, 47]}, {"key": "financial-services", "type": "definition", "offset": [48, 66]}, {"key": "employee-stock-ownership-plan", "type": "clause", "offset": [79, 108]}, {"key": "the-company-shall", "type": "clause", "offset": [149, 166]}, {"key": "a-contribution", "type": "clause", "offset": [172, 186]}, {"key": "the-esop", "type": "clause", "offset": [190, 198]}, {"key": "equal-to", "type": "definition", "offset": [208, 216]}, {"key": "pursuant-to-section", "type": "definition", "offset": [275, 294]}, {"key": "day-of", "type": "clause", "offset": [365, 371]}, {"key": "in-no-event", "type": "clause", "offset": [385, 396]}, {"key": "to-pay", "type": "clause", "offset": [425, 431]}, {"key": "current-obligation", "type": "definition", "offset": [436, 454]}, {"key": "exempt-loan", "type": "definition", "offset": [465, 476]}, {"key": "to-repay", "type": "clause", "offset": [595, 603]}, {"key": "a-portion", "type": "definition", "offset": [604, 613]}, {"key": "common-stock-to-be", "type": "clause", "offset": [805, 823]}, {"key": "suspense-account", "type": "definition", "offset": [842, 858]}, {"key": "allocated-to", "type": "definition", "offset": [889, 901]}, {"key": "the-accounts", "type": "clause", "offset": [902, 914]}, {"key": "the-plan-year", "type": "clause", "offset": [1067, 1080]}, {"key": "first-day", "type": "definition", "offset": [1226, 1235]}, {"key": "current-plan-year", "type": "clause", "offset": [1243, 1260]}, {"key": "after-the-effective-time", "type": "clause", "offset": [1344, 1368]}, {"key": "except-to-the-extent", "type": "clause", "offset": [1448, 1468]}, {"key": "deemed-necessary", "type": "definition", "offset": [1469, 1485]}, {"key": "the-internal-revenue-service", "type": "definition", "offset": [1489, 1517]}, {"key": "to-maintain", "type": "clause", "offset": [1534, 1545]}, {"key": "section-401a", "type": "clause", "offset": [1582, 1595]}, {"key": "as-required-by", "type": "clause", "offset": [1601, 1615]}, {"key": "the-service", "type": "definition", "offset": [1616, 1627]}, {"key": "determination-letter", "type": "definition", "offset": [1674, 1694]}, {"key": "status-of-the", "type": "clause", "offset": [1719, 1732]}, {"key": "account-balances", "type": "definition", "offset": [1772, 1788]}, {"key": "fully-vested", "type": "definition", "offset": [1802, 1814]}, {"key": "the-trustees-of-the", "type": "clause", "offset": [1917, 1936]}, {"key": "to-sell", "type": "clause", "offset": [1942, 1949]}, {"key": "shares-of-stock", "type": "clause", "offset": [2004, 2019]}, {"key": "associated-with", "type": "definition", "offset": [2023, 2038]}, {"key": "aggregate-value", "type": "clause", "offset": [2042, 2057]}, {"key": "esop-indebtedness", "type": "definition", "offset": [2093, 2110]}, {"key": "after-giving", "type": "clause", "offset": [2112, 2124]}, {"key": "remaining-shares", "type": "definition", "offset": [2461, 2477]}, {"key": "all-participants", "type": "definition", "offset": [2507, 2523]}, {"key": "employed-by-the-company", "type": "definition", "offset": [2532, 2555]}, {"key": "service-requirement", "type": "clause", "offset": [2623, 2642]}, {"key": "the-participant", "type": "clause", "offset": [2720, 2735]}, {"key": "the-year", "type": "definition", "offset": [2795, 2803]}, {"key": "the-individual", "type": "clause", "offset": [2847, 2861]}, {"key": "internal-revenue-code", "type": "definition", "offset": [2881, 2902]}, {"key": "section-415", "type": "definition", "offset": [2916, 2927]}, {"key": "the-balance", "type": "clause", "offset": [2933, 2944]}, {"key": "with-respect-to", "type": "clause", "offset": [2975, 2990]}, {"key": "favorable-letter", "type": "definition", "offset": [3071, 3087]}, {"key": "continued-qualification", "type": "clause", "offset": [3119, 3142]}, {"key": "applied-for", "type": "definition", "offset": [3152, 3163]}, {"key": "following-the-effective-time", "type": "clause", "offset": [3203, 3231]}, {"key": "lump-sum", "type": "definition", "offset": [3303, 3311]}, {"key": "the-code", "type": "clause", "offset": [3369, 3377]}, {"key": "the-determination", "type": "clause", "offset": [3455, 3472]}, {"key": "receipt-of", "type": "clause", "offset": [3520, 3530]}, {"key": "form-of", "type": "clause", "offset": [3615, 3622]}, {"key": "to-transfer", "type": "clause", "offset": [3726, 3737]}, {"key": "an-active-participant", "type": "definition", "offset": [3900, 3921]}, {"key": "administration-of-the", "type": "clause", "offset": [3964, 3985]}, {"key": "consistent-with-the", "type": "clause", "offset": [4005, 4024]}, {"key": "and-the-company", "type": "clause", "offset": [4064, 4079]}], "hash": "9bdb2e44212b6fecf7d9abc749e99d01", "id": 1}, {"size": 4, "snippet": "The Company has reserved a total of up to 17,647,058 Ordinary Shares (which shall be re-designated as Class A Ordinary Shares upon Closing), representing 12.6316% of the Company\u2019s issued share capital (on a fully diluted basis) as of the date hereof and immediately prior to the Closing, for issuance pursuant to share options granted under the Company\u2019s employee share option plan (the \u201cESOP\u201d) adopted by the Company. The Ordinary Shares reserved under the ESOP will be re-designated as Class A Ordinary Shares at Closing. After the Closing, the Company may increase the number of Shares issuable under the ESOP by such number of Class A Ordinary Shares, representing up to 5% of the Company\u2019s issued share capital (on a fully diluted basis) at such time, provided, however that the Investor\u2019s shareholding in the Company shall not be diluted to less than 30% of the Company\u2019s issued share capital (on a fully diluted basis) immediately after such increase.", "samples": [{"hash": "9qVMvwYI5q4", "uri": "/contracts/9qVMvwYI5q4#esop", "label": "Series B 2 Preferred Share Subscription Agreement", "score": 31.3408622742, "published": true}, {"hash": "1RQvC1wVCAW", "uri": "/contracts/1RQvC1wVCAW#esop", "label": "Series B 2 Preferred Share Subscription Agreement (YY Inc.)", "score": 29.3148536682, "published": true}, {"hash": "RDyOEFCpXN", "uri": "/contracts/RDyOEFCpXN#esop", "label": "Series B 2 Preferred Share Subscription Agreement (HUYA Inc.)", "score": 29.2683086395, "published": true}], "snippet_links": [{"key": "the-company-has", "type": "definition", "offset": [0, 15]}, {"key": "class-a-ordinary-shares", "type": "definition", "offset": [102, 125]}, {"key": "upon-closing", "type": "clause", "offset": [126, 138]}, {"key": "of-the-company", "type": "clause", "offset": [163, 177]}, {"key": "issued-share-capital", "type": "clause", "offset": [180, 200]}, {"key": "fully-diluted-basis", "type": "definition", "offset": [207, 226]}, {"key": "date-hereof", "type": "clause", "offset": [238, 249]}, {"key": "prior-to-the-closing", "type": "clause", "offset": [266, 286]}, {"key": "pursuant-to", "type": "definition", "offset": [301, 312]}, {"key": "options-granted", "type": "definition", "offset": [319, 334]}, {"key": "employee-share-option-plan", "type": "clause", "offset": [355, 381]}, {"key": "by-the-company", "type": "clause", "offset": [403, 417]}, {"key": "shares-reserved", "type": "clause", "offset": [432, 447]}, {"key": "the-esop", "type": "clause", "offset": [454, 462]}, {"key": "at-closing", "type": "definition", "offset": [512, 522]}, {"key": "after-the-closing", "type": "clause", "offset": [524, 541]}, {"key": "number-of-shares-issuable", "type": "clause", "offset": [572, 597]}, {"key": "the-investor", "type": "clause", "offset": [780, 792]}, {"key": "the-company-shall", "type": "clause", "offset": [811, 828]}], "hash": "ed66c8be0ee57e0c036567d5f5bfe45e", "id": 6}, {"size": 4, "snippet": "Community Bankshares shall take all necessary action to cause the Community Bankshares ESOP to be terminated as of the Effective Time. Community Bankshares will adopt amendments to the ESOP, to the extent necessary, that provide (i) the Merger Consideration received by the Community Bankshares ESOP trustee in connection with the Merger with respect to the unallocated shares of Community Bankshares Common Stock shall be first applied by the Community Bankshares ESOP trustee to the full repayment of the Community Bankshares ESOP loan, (ii) the balance of the Merger Consideration (if any) received by the Community Bankshares ESOP trustee with respect to the unallocated shares of Community Bankshares Common Stock shall be allocated as earnings to the accounts of all participants in the Community Bankshares ESOP who have accounts remaining under the Community Bankshares ESOP (whether or not such participants are then actively employed) and beneficiaries in proportion to the account balances of such participants and beneficiaries as of the first day of the Community Bankshares ESOP plan year in which the Effective Time occurs, (iii) the accounts of all participants and beneficiaries in the Community Bankshares ESOP immediately prior to the Effective Time shall become fully vested as of the Effective Time, and (iv) as may be requested by the IRS in connection with the request for a determination letter as described below. BBC agrees that for a period of two years following the Effective Time, BBC will provide to members of the administrative committee on the date hereof quarterly reports regarding the status and the administration of the ESOP. The Merger Consideration received by the Community Bankshares ESOP Trustee shall be applied as provided for in the ESOP and as may be required by law. As soon as practicable after the date hereof, Community Bankshares shall file or cause to be filed all necessary documents with the IRS, including the amendments described above, for a determination letter for termination of the Community Bankshares ESOP as of the Effective Time. As soon as practicable after the later of the Effective Time or the receipt of a favorable determination letter for termination from the IRS, the account balances in the Community Bankshares ESOP shall be distributed to participants and beneficiaries in accordance with applicable law and the ESOP. Prior to the Effective Time, no prepayments shall be made on the Community Bankshares ESOP loan and contributions to the Community Bankshares ESOP and payments on the Community Bankshares ESOP loan shall be made consistent with past practices on the regularly scheduled payment dates. The termination of the ESOP shall not subject Community Bankshares or BBC to any obligation or liability.", "samples": [{"hash": "lOuPabxPiMU", "uri": "/contracts/lOuPabxPiMU#esop", "label": "Merger Agreement (Community Savings Bankshares Inc /De/)", "score": 18.0, "published": true}, {"hash": "aWIO8MkSbvt", "uri": "/contracts/aWIO8MkSbvt#esop", "label": "Merger Agreement (Bankatlantic Bancorp Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "all-necessary-action", "type": "clause", "offset": [32, 52]}, {"key": "amendments-to-the", "type": "clause", "offset": [167, 184]}, {"key": "to-the-extent", "type": "clause", "offset": [191, 204]}, {"key": "received-by", "type": "definition", "offset": [258, 269]}, {"key": "esop-trustee", "type": "definition", "offset": [295, 307]}, {"key": "in-connection-with", "type": "clause", "offset": [308, 326]}, {"key": "with-respect-to", "type": "clause", "offset": [338, 353]}, {"key": "shares-of", "type": "clause", "offset": [370, 379]}, {"key": "stock-shall", "type": "definition", "offset": [408, 419]}, {"key": "repayment-of", "type": "clause", "offset": [490, 502]}, {"key": "esop-loan", "type": "clause", "offset": [528, 537]}, {"key": "balance-of-the", "type": "clause", "offset": [548, 562]}, {"key": "the-accounts", "type": "clause", "offset": [753, 765]}, {"key": "all-participants", "type": "definition", "offset": [769, 785]}, {"key": "in-the-community", "type": "definition", "offset": [786, 802]}, {"key": "actively-employed", "type": "definition", "offset": [926, 943]}, {"key": "account-balances", "type": "definition", "offset": [984, 1000]}, {"key": "day-of", "type": "clause", "offset": [1056, 1062]}, {"key": "plan-year", "type": "definition", "offset": [1093, 1102]}, {"key": "prior-to-the-effective-time", "type": "clause", "offset": [1241, 1268]}, {"key": "fully-vested", "type": "definition", "offset": [1282, 1294]}, {"key": "requested-by", "type": "definition", "offset": [1340, 1352]}, {"key": "request-for", "type": "clause", "offset": [1384, 1395]}, {"key": "determination-letter", "type": "definition", "offset": [1398, 1418]}, {"key": "period-of-two-years", "type": "definition", "offset": [1461, 1480]}, {"key": "following-the-effective-time", "type": "clause", "offset": [1481, 1509]}, {"key": "will-provide", "type": "clause", "offset": [1515, 1527]}, {"key": "the-administrative-committee", "type": "clause", "offset": [1542, 1570]}, {"key": "date-hereof", "type": "clause", "offset": [1578, 1589]}, {"key": "quarterly-reports", "type": "clause", "offset": [1590, 1607]}, {"key": "administration-of-the", "type": "clause", "offset": [1637, 1658]}, {"key": "trustee-shall", "type": "definition", "offset": [1732, 1745]}, {"key": "required-by-law", "type": "clause", "offset": [1799, 1814]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [1816, 1838]}, {"key": "all-necessary-documents", "type": "clause", "offset": [1915, 1938]}, {"key": "the-amendments", "type": "clause", "offset": [1963, 1977]}, {"key": "receipt-of-a", "type": "clause", "offset": [2165, 2177]}, {"key": "favorable-determination", "type": "definition", "offset": [2178, 2201]}, {"key": "in-accordance-with", "type": "clause", "offset": [2348, 2366]}, {"key": "applicable-law", "type": "clause", "offset": [2367, 2381]}, {"key": "no-prepayments", "type": "clause", "offset": [2425, 2439]}, {"key": "contributions-to", "type": "clause", "offset": [2496, 2512]}, {"key": "and-payments", "type": "clause", "offset": [2543, 2555]}, {"key": "loan-shall", "type": "definition", "offset": [2589, 2599]}, {"key": "consistent-with-past-practices", "type": "definition", "offset": [2608, 2638]}, {"key": "scheduled-payment-dates", "type": "definition", "offset": [2656, 2679]}, {"key": "termination-of-the-esop", "type": "clause", "offset": [2685, 2708]}], "hash": "eb9fa1d611d3dddec5be50f8fd4848fe", "id": 7}, {"size": 4, "snippet": "The Purchaser hereby acknowledges and agrees that the Company will reserve additional 35,180 Ordinary Shares (the \u201cNew ESOP Shares\u201d)after the date hereof, for issuance to employees, officers, directors or consultants of the Company or any other Group Companies pursuant to an employee share incentive plan (the \u201cESOP\u201d) adopted or to be adopted by the board of directors of the Company (the \u201cBoard\u201d), in addition to 671,301 Ordinary Shares that have been reserved prior to the date hereof.Unless otherwise approved by the Board and subject to the terms and conditions of the ESOP and any award agreements in connection therewith, the New ESOP Shares will be granted with an exercise price of no less than twenty percent (20%) of Series D Conversion Price as of the granting of the options to purchase such New ESOP Shares.The Purchaser undertakes to waive any preemptive right, participation right, right of first refusal, anti-dilution right (including without limitation the right to adjust the conversion price of the Series D Preferred Shares) and any other right it may have, execute all necessary documents and take all necessary actions for the Company\u2019s reservation of the New ESOP Shares.", "samples": [{"hash": "liEdoD1M8c3", "uri": "/contracts/liEdoD1M8c3#esop", "label": "Share Subscription Agreement (9F Inc.)", "score": 28.5605754852, "published": true}, {"hash": "6MPIeN1KlK6", "uri": "/contracts/6MPIeN1KlK6#esop", "label": "Share Subscription Agreement (9F Inc.)", "score": 27.892539978, "published": true}], "snippet_links": [{"key": "the-purchaser", "type": "clause", "offset": [0, 13]}, {"key": "the-company-will", "type": "clause", "offset": [50, 66]}, {"key": "ordinary-shares", "type": "definition", "offset": [93, 108]}, {"key": "esop-shares", "type": "definition", "offset": [119, 130]}, {"key": "date-hereof", "type": "clause", "offset": [142, 153]}, {"key": "consultants-of-the-company", "type": "clause", "offset": [205, 231]}, {"key": "other-group-companies", "type": "definition", "offset": [239, 260]}, {"key": "pursuant-to", "type": "definition", "offset": [261, 272]}, {"key": "share-incentive-plan", "type": "definition", "offset": [285, 305]}, {"key": "board-of-directors-of-the-company", "type": "definition", "offset": [351, 384]}, {"key": "in-addition-to", "type": "clause", "offset": [400, 414]}, {"key": "prior-to-the", "type": "clause", "offset": [463, 475]}, {"key": "approved-by-the-board", "type": "definition", "offset": [505, 526]}, {"key": "the-esop", "type": "clause", "offset": [570, 578]}, {"key": "award-agreements", "type": "definition", "offset": [587, 603]}, {"key": "in-connection", "type": "definition", "offset": [604, 617]}, {"key": "exercise-price", "type": "definition", "offset": [673, 687]}, {"key": "series-d-conversion-price", "type": "definition", "offset": [728, 753]}, {"key": "options-to-purchase", "type": "clause", "offset": [780, 799]}, {"key": "to-waive-any", "type": "clause", "offset": [846, 858]}, {"key": "preemptive-right", "type": "clause", "offset": [859, 875]}, {"key": "participation-right", "type": "definition", "offset": [877, 896]}, {"key": "right-of-first-refusal", "type": "definition", "offset": [898, 920]}, {"key": "including-without-limitation", "type": "clause", "offset": [943, 971]}, {"key": "right-to-adjust", "type": "clause", "offset": [976, 991]}, {"key": "the-conversion", "type": "clause", "offset": [992, 1006]}, {"key": "series-d-preferred-shares", "type": "definition", "offset": [1020, 1045]}, {"key": "all-necessary-documents", "type": "clause", "offset": [1088, 1111]}, {"key": "all-necessary-actions", "type": "clause", "offset": [1121, 1142]}, {"key": "for-the-company", "type": "definition", "offset": [1143, 1158]}, {"key": "reservation-of", "type": "clause", "offset": [1161, 1175]}], "hash": "572ee4969b270898e6cbeda3f6898260", "id": 8}, {"size": 8, "snippet": "(a) As of the Closing Date and, to the best of Borrower\u2019s knowledge at all times thereafter, the ESOT has been duly organized and is a validly existing trust. Except as set forth on Schedule 3.23, each of the ESOP Plan Documents is in full force and effect and no term or condition thereof has been amended, modified or waived from the terms and conditions contained in the ESOP Plan Documents delivered to the Administrative Agent without the consent of the Administrative Agent (which consent shall not be unreasonably withheld), except to the extent such amendment, modification or waiver could not reasonably be anticipated to have a material adverse effect upon the Administrative Agent or any of the Lenders or otherwise have a Material Adverse Effect. As of the Closing Date and, to the best of Borrower\u2019s knowledge at all times thereafter, the ESOT has performed and complied with all the material terms, provisions, agreements and conditions set forth therein and required to be performed or complied with by the ESOT, and no unmatured default, default or breach of any covenant by any such party exists thereunder.\n(b) As of the Closing Date and, to the best of the Borrower\u2019s knowledge at all times thereafter, the execution, delivery and performance of each of the ESOP Plan Documents to which the ESOT is a party do not (i) conflict with the ESOP Plan Documents, (ii) conflict with any requirement of law, or (iii) other than with respect to ordinary course ESOP operations, require a registration with, consent or approval of, or notices to, or other action to, with or by any Governmental Authority.\n(c) As of the Closing Date and, to the best of the Borrower\u2019s knowledge, at all times thereafter, none of the assets of the Borrower constitute, for any purpose of ERISA or Section 4975 of the Code, assets of the ESOP or any other \u201cplan\u201d as defined in Section 3(3) of ERISA or Section 4975 of the Code.\n(d) As of the Closing Date and, to the best of the Borrower\u2019s knowledge, at all times thereafter, no non-exempt prohibited transaction described in Section 406 of ERISA or Section 4975 of the Code has occurred with respect to the ESOP, and no Loan hereunder constitutes or shall constitute or give rise to any such non-exempt prohibited transaction.\n(e) The ESOP is qualified under Section 401(a) of the Code, and the ESOP includes two components, one of which is a stock bonus plan that constitutes an employee stock ownership plan as defined in Section 4975(e)(7) of the Code, and the other is a profit sharing plan that includes a cash or deferred arrangement under Section 401(k) of the Code.\n(f) The Borrower has provided the Administrative Agent with a complete and true copy of each of the ESOP Plan Documents pursuant to which the ESOP and the ESOT are maintained by the Borrower, or which concern the Borrower\u2019s obligations with respect to the ESOP and ESOT, as of the Closing Date and has not subsequently amended or in any other way modified or replaced such ESOP Plan Documents in any material manner without the prior written consent of the Administrative Agent, except for any amendment, modification or replacement required by the IRS or by applicable law (and the Borrower shall use its best efforts to deliver a copy of any such amendment, modification or replacement to the Administrative Agent prior to the execution thereof).\n(g) To the Borrower\u2019s knowledge, no Loan hereunder is (for any purpose of Section 406 of ERISA or Section 4975 of the Code) a direct or indirect loan or other transaction between the Administrative Agent or any of the Lenders and the ESOT which, if it is assumed that the Administrative Agent and the Lenders are \u201cparties in interest\u201d and \u201cdisqualified persons\u201d (as defined in Section 3(14) of ERISA and Section 4975 of the Code, respectively), is a non-exempt prohibited transaction described in Section 406 of ERISA or Section 4975 of the Code.\n(h) Neither the Borrower nor any of its Subsidiaries is or shall be subject to the tax imposed by Section 4978 of the Code with respect to any \u201cdisposition\u201d by the ESOT of any shares of Equity Interests of the Borrower.\n(i) To the Borrower\u2019s knowledge, there is no investigation or review by any Governmental Agency, or action, suit, proceeding or arbitration, pending or concluded, concerning any matter with respect to the ESOP or the ESOT relevant as to whether any representation set forth herein was, or has or will at any time become, inaccurate or breached or, if it were to be made at any time prior to the satisfaction of all Obligations, would be inaccurate when made (other than in respect of (i) periodic requests to the IRS to issue a favorable determination letter to the effect that the ESOP is and continues to be a qualified plan and an employee stock ownership plan, (ii) Annual Reports (IRS Form 5500 Series) for the ESOP and (iii) routine claims for ESOP benefits), and neither the ESOP Fiduciary nor, to the best of the Borrower\u2019s knowledge, the ESOT Trustee has made any assertion with respect to the ESOP or the ESOT contrary to or inconsistent with the accuracy of any such representation which assertion could reasonably be expected to have a Material Adverse Effect.", "samples": [{"hash": "3yGzT83zkKu", "uri": "/contracts/3yGzT83zkKu#esop", "label": "Credit Agreement (Alion Science & Technology Corp)", "score": 22.201915741, "published": true}, {"hash": "461pd3zHZvx", "uri": "/contracts/461pd3zHZvx#esop", "label": "Credit Agreement (Alion Science & Technology Corp)", "score": 21.2272415161, "published": true}], "snippet_links": [{"key": "as-of-the-closing-date", "type": "clause", "offset": [4, 26]}, {"key": "at-all-times", "type": "clause", "offset": [68, 80]}, {"key": "duly-organized", "type": "clause", "offset": [111, 125]}, {"key": "existing-trust", "type": "definition", "offset": [143, 157]}, {"key": "on-schedule", "type": "definition", "offset": [179, 190]}, {"key": "esop-plan-documents", "type": "definition", "offset": [209, 228]}, {"key": "full-force-and-effect", "type": "definition", "offset": [235, 256]}, {"key": "no-term", "type": "clause", "offset": [261, 268]}, {"key": "the-terms-and-conditions", "type": "definition", "offset": [332, 356]}, {"key": "contained-in", "type": "definition", "offset": [357, 369]}, {"key": "documents-delivered", "type": "clause", "offset": [384, 403]}, {"key": "consent-of-the-administrative-agent", "type": "clause", "offset": [444, 479]}, {"key": "except-to-the-extent", "type": "clause", "offset": [532, 552]}, {"key": "modification-or-waiver", "type": "clause", "offset": [569, 591]}, {"key": "material-adverse-effect", "type": "clause", "offset": [638, 661]}, {"key": "material-terms", "type": "definition", "offset": [897, 911]}, {"key": "agreements-and-conditions", "type": "clause", "offset": [925, 950]}, {"key": "no-unmatured-default", "type": "clause", "offset": [1032, 1052]}, {"key": "breach-of-any", "type": "clause", "offset": [1065, 1078]}, {"key": "such-party", "type": "clause", "offset": [1095, 1105]}, {"key": "the-execution", "type": "clause", "offset": [1222, 1235]}, {"key": "delivery-and-performance", "type": "clause", "offset": [1237, 1261]}, {"key": "a-party", "type": "clause", "offset": [1318, 1325]}, {"key": "requirement-of-law", "type": "definition", "offset": [1399, 1417]}, {"key": "with-respect-to", "type": "clause", "offset": [1439, 1454]}, {"key": "ordinary-course", "type": "definition", "offset": [1455, 1470]}, {"key": "approval-of", "type": "definition", "offset": [1528, 1539]}, {"key": "notices-to", "type": "definition", "offset": [1544, 1554]}, {"key": "other-action", "type": "clause", "offset": [1559, 1571]}, {"key": "governmental-authority", "type": "definition", "offset": [1591, 1613]}, {"key": "assets-of-the-borrower", "type": "clause", "offset": [1725, 1747]}, {"key": "the-code", "type": "clause", "offset": [1804, 1812]}, {"key": "defined-in-section", "type": "clause", "offset": [1856, 1874]}, {"key": "no-non", "type": "clause", "offset": [2016, 2022]}, {"key": "prohibited-transaction", "type": "definition", "offset": [2030, 2052]}, {"key": "section-406", "type": "clause", "offset": [2066, 2077]}, {"key": "no-loan", "type": "definition", "offset": [2158, 2165]}, {"key": "section-401a", "type": "clause", "offset": [2300, 2313]}, {"key": "stock-bonus-plan", "type": "definition", "offset": [2384, 2400]}, {"key": "employee-stock-ownership-plan", "type": "clause", "offset": [2421, 2450]}, {"key": "profit-sharing-plan", "type": "definition", "offset": [2516, 2535]}, {"key": "cash-or-deferred-arrangement", "type": "clause", "offset": [2552, 2580]}, {"key": "true-copy", "type": "definition", "offset": [2690, 2699]}, {"key": "pursuant-to", "type": "definition", "offset": [2735, 2746]}, {"key": "by-the-borrower", "type": "clause", "offset": [2790, 2805]}, {"key": "prior-written-consent", "type": "clause", "offset": [3043, 3064]}, {"key": "any-amendment", "type": "definition", "offset": [3105, 3118]}, {"key": "required-by", "type": "definition", "offset": [3148, 3159]}, {"key": "applicable-law", "type": "clause", "offset": [3174, 3188]}, {"key": "the-borrower-shall", "type": "clause", "offset": [3194, 3212]}, {"key": "best-efforts", "type": "definition", "offset": [3221, 3233]}, {"key": "a-copy-of", "type": "clause", "offset": [3245, 3254]}, {"key": "prior-to-the", "type": "clause", "offset": [3331, 3343]}, {"key": "to-the-borrower", "type": "clause", "offset": [3368, 3383]}, {"key": "purpose-of-section", "type": "clause", "offset": [3427, 3445]}, {"key": "direct-or-indirect", "type": "clause", "offset": [3490, 3508]}, {"key": "other-transaction", "type": "definition", "offset": [3517, 3534]}, {"key": "the-administrative-agent-and-the-lenders", "type": "clause", "offset": [3632, 3672]}, {"key": "parties-in-interest", "type": "clause", "offset": [3678, 3697]}, {"key": "disqualified-persons", "type": "definition", "offset": [3704, 3724]}, {"key": "a-non", "type": "clause", "offset": [3812, 3817]}, {"key": "neither-the-borrower", "type": "definition", "offset": [3915, 3935]}, {"key": "subject-to-the", "type": "definition", "offset": [3979, 3993]}, {"key": "tax-imposed", "type": "clause", "offset": [3994, 4005]}, {"key": "shares-of", "type": "clause", "offset": [4087, 4096]}, {"key": "equity-interests", "type": "definition", "offset": [4097, 4113]}, {"key": "no-investigation", "type": "clause", "offset": [4173, 4189]}, {"key": "governmental-agency", "type": "clause", "offset": [4207, 4226]}, {"key": "at-any-time", "type": "clause", "offset": [4432, 4443]}, {"key": "satisfaction-of-all-obligations", "type": "clause", "offset": [4526, 4557]}, {"key": "in-respect-of", "type": "definition", "offset": [4601, 4614]}, {"key": "to-issue", "type": "clause", "offset": [4648, 4656]}, {"key": "determination-letter", "type": "definition", "offset": [4669, 4689]}, {"key": "qualified-plan", "type": "definition", "offset": [4743, 4757]}, {"key": "annual-reports", "type": "definition", "offset": [4801, 4815]}, {"key": "form-5500-series", "type": "definition", "offset": [4821, 4837]}, {"key": "claims-for", "type": "clause", "offset": [4870, 4880]}, {"key": "esop-fiduciary", "type": "definition", "offset": [4913, 4927]}, {"key": "esot-trustee", "type": "definition", "offset": [4978, 4990]}, {"key": "contrary-to", "type": "definition", "offset": [5051, 5062]}, {"key": "could-reasonably-be-expected-to", "type": "definition", "offset": [5140, 5171]}], "hash": "19a65aa754add03170cd2411ec76d224", "id": 2}, {"size": 6, "snippet": "The term ESOP refers to an employee stock ownership plan that meets the requirements of section 407(d)(6) of the Employee Retirement Income Security Act of 1974 (the Act) and 29 CFR 2550.407d\u2013", "samples": [{"hash": "aoPUDPxxxnH", "uri": "/contracts/aoPUDPxxxnH#esop", "label": "Loan Agreement", "score": 29.2187480927, "published": true}, {"hash": "7NrE28jvWcS", "uri": "/contracts/7NrE28jvWcS#esop", "label": "Loan Agreement", "score": 26.0324516296, "published": true}, {"hash": "kbYXRxo4vm", "uri": "/contracts/kbYXRxo4vm#esop", "label": "Loan Agreement", "score": 25.9090538025, "published": true}], "snippet_links": [{"key": "the-term", "type": "definition", "offset": [0, 8]}, {"key": "employee-stock-ownership-plan", "type": "clause", "offset": [27, 56]}, {"key": "meets-the-requirements", "type": "definition", "offset": [62, 84]}, {"key": "employee-retirement-income-security-act-of-1974", "type": "clause", "offset": [113, 160]}, {"key": "the-act", "type": "clause", "offset": [162, 169]}], "hash": "3f857fe0669be7cb935f4d6919201308", "id": 4}, {"size": 5, "snippet": "The ESOP shall fail to be operated and administered as a qualified plan under Section 401(a) of the Code and, to the extent applicable, Sections 409 and 4975(e)(7) of the Code and in compliance with all applicable requirements of ERISA and the Code and regulations thereunder as from time to time in effect; provided, that, no Event of Default shall be deemed to have occurred under this subsection (p) if such failure (i) does not result in disqualification of the ESOP under the Code or otherwise and (ii) could not reasonably be expected to constitute or cause a Material Adverse Change.", "samples": [{"hash": "9DvEzNyralk", "uri": "/contracts/9DvEzNyralk#esop", "label": "Credit Agreement (Parsons Corp)", "score": 33.7145805359, "published": true}, {"hash": "6UzxyKziVLm", "uri": "/contracts/6UzxyKziVLm#esop", "label": "Credit Agreement (Parsons Corp)", "score": 33.7145805359, "published": true}, {"hash": "4O8x7RdwRM6", "uri": "/contracts/4O8x7RdwRM6#esop", "label": "Credit Agreement (Parsons Corp)", "score": 32.4907608032, "published": true}], "snippet_links": [{"key": "the-esop", "type": "clause", "offset": [0, 8]}, {"key": "qualified-plan", "type": "definition", "offset": [57, 71]}, {"key": "section-401a", "type": "clause", "offset": [78, 91]}, {"key": "the-code", "type": "clause", "offset": [96, 104]}, {"key": "to-the-extent", "type": "clause", "offset": [110, 123]}, {"key": "in-compliance-with", "type": "definition", "offset": [180, 198]}, {"key": "applicable-requirements", "type": "clause", "offset": [203, 226]}, {"key": "code-and-regulations", "type": "definition", "offset": [244, 264]}, {"key": "from-time-to-time", "type": "clause", "offset": [279, 296]}, {"key": "in-effect", "type": "clause", "offset": [297, 306]}, {"key": "default-shall", "type": "definition", "offset": [336, 349]}, {"key": "this-subsection", "type": "definition", "offset": [383, 398]}, {"key": "a-material-adverse-change", "type": "clause", "offset": [564, 589]}], "hash": "0e359f0294ce2939ddccc8e1c9fa7500", "id": 5}, {"size": 4, "snippet": "The following provisions will apply with respect to the Mutual Savings Bank Employee Stock Ownership Plan and Trust (\"MSB ESOP\"):\n(i) All cash currently held in the MSB ESOP Suspense Account and attributable to certain securities litigation settlement proceeds received by the MSB ESOP (the \"Litigation Proceeds\"), shall be allocated to accounts of participants in the MSB ESOP as of the Effective Time (\"MSB ESOP Participants\") and former MSB ESOP Participants. Such allocation shall be made (a) pursuant to the terms of the MSB ESOP in effect as of the Effective Time, and (b) as soon as practicable after the receipt of a Private Letter Ruling requested from the Internal Revenue Service (\"IRS\") with respect to the treatment of the Litigation Proceeds pursuant to Section 415 of the Code.\n(ii) All cash allocated to the accounts of MSB ESOP Participants and former MSB ESOP Participants as applicable, as set forth in Section 4.14(a)(i) above, and all remaining cash to be allocated to the MSB ESOP Participant Accounts and attributable to the Litigation Proceeds, will be distributed to, or rolled over by, MSB ESOP Participants and former MSB ESOP Participants as applicable, at their election, pursuant to the terms of the MSB ESOP in effect at the Effective Time. Such distributions or rollovers shall be made as soon as practicable after the later to occur of the Effective Time or the date of receipt of the aforementioned IRS Private Letter Ruling.\n(iii) From and after the date of this Agreement and in anticipation of the aforementioned allocations, distributions and rollovers from the MSB ESOP, IBC, MSB and their respective representatives prior to the Effective Time, and IBC and its representatives after the Effective Time, shall use their best efforts to obtain such Private Letter Ruling from the IRS. In the event that IBC, MSB and their respective representatives prior to the Effective Time, and IBC and its representatives after the Effective Time, reasonably determine that the MSB ESOP cannot obtain the Private Letter Ruling, or that amounts attributable to the Litigation Proceeds cannot be so applied, allocated, distributed or rolled over without causing the MSB ESOP to lose its tax-qualified status or to exceed the limitations set forth in Section 415 of the Code, MSB prior to the Effective Time and IBC after the Effective Time, and their respective representatives, shall take such action as they may reasonably determine with respect to the allocation, distribution and rollover of the Litigation Proceeds to MSB ESOP Participants and former MSB ESOP Participants pursuant to the terms of the MSB ESOP in effect as of the Effective Time, provided that the Litigation Proceeds shall be held or paid only for the benefit of MSB ESOP Participants and former MSB ESOP Participants, and provided further that in no event shall any portion of such amounts held in the MSB ESOP revert directly or indirectly to MSB or any Affiliate thereof, or to IBC or any Affiliate thereof.\n(iv) The MSB ESOP shall be merged with and into the Independent Bank Corporation Employee Stock Ownership Plan and Trust (\"IBC ESOP\") as soon as practicable after the later to occur of (a) the completion of the cash allocations, distributions, and rollovers described in Sections 4.14(a)(i) through (iii) above, or (b) the Effective Time.\n(v) As of the effective date of the merger of the MSB ESOP and the IBC ESOP, remaining account balances of MSB ESOP Participants who are not then employed by IBC or an Affiliate thereof shall be distributed to, or rolled over by, such MSB ESOP Participants based upon the vesting schedule set forth in the MSB ESOP as of the Effective Time.\n(vi) Remaining account balances of MSB ESOP Participants who are employed by IBC or an Affiliate thereof on the effective date of the merger of the MSB ESOP and the IBC ESOP, will be maintained for their benefit in separate accounts established under the IBC ESOP and will vest in such MSB ESOP Participants' accounts according to the MSB ESOP vesting schedule in effect as of the Effective Time.\n(vii) Each MSB employee who becomes an employee of IBC or an Affiliate thereof as of the Effective Time will participate in the IBC ESOP as of the later to occur of (a) the Effective Time, or (b) the date such MSB ESOP Participant satisfies the eligibility requirements of the IBC ESOP. Former MSB employees shall receive credit for eligibility and vesting purposes under the IBC ESOP for all services rendered to MSB or an Affiliate thereof prior to the Effective Time.\n(viii) Employees hired by the Consolidated Bank from and after the Effective Time will become eligible to participate in the IBC ESOP in the same manner as newly- hired IBC employees.\n(ix) IBC shall maintain and operate the MSB ESOP and IBC ESOP in accordance with their respective terms and the applicable provisions of ERISA and the Code, and to the extent that there exist, as of the date of this Agreement, material differences between the rights of MSB ESOP Participants with respect to the balances of their MSB ESOP accounts and the rights of IBC ESOP Participants with respect to the balances of their IBC ESOP accounts, respectively, and any such differences are adverse to the MSB ESOP Participants (other than the prevailing differences in the vesting of account balances, which provisions of the MSB ESOP shall in no event be modified as it applies to MSB ESOP account balances at the time of merger of the MSB ESOP with the IBC ESOP), IBC shall not amend the MSB ESOP or the IBC ESOP in a way that would adversely affect the rights of MSB ESOP Participants with respect to the balances of their MSB ESOP accounts that are transferred to accounts for their benefit under the IBC ESOP in connection with the merger of the MSB ESOP with the IBC ESOP, except to the extent required to maintain the IBC ESOP's tax qualified status under applicable provisions of the Code.\n(x) IBC, MSB and their respective Affiliates shall take all actions necessary to accomplish the program described above with respect to the MSB ESOP, including, without limitation, such amendments to the MSB ESOP and the IBC ESOP as are appropriate or necessary to complete such program.", "samples": [{"hash": "9iXhX4rZgae", "uri": "/contracts/9iXhX4rZgae#esop", "label": "Agreement and Plan of Reorganization (Independent Bank Corp /Mi/)", "score": 18.0, "published": true}], "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [36, 51]}, {"key": "plan-and-trust", "type": "clause", "offset": [101, 115]}, {"key": "esop-suspense-account", "type": "definition", "offset": [169, 190]}, {"key": "settlement-proceeds", "type": "clause", "offset": [241, 260]}, {"key": "received-by", "type": "definition", "offset": [261, 272]}, {"key": "litigation-proceeds", "type": "clause", "offset": [292, 311]}, {"key": "allocated-to", "type": "definition", "offset": [324, 336]}, {"key": "esop-participants", "type": "definition", "offset": [409, 426]}, {"key": "terms-of-the", "type": "clause", "offset": [513, 525]}, {"key": "in-effect", "type": "clause", "offset": [535, 544]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [579, 601]}, {"key": "receipt-of-a", "type": "clause", "offset": [612, 624]}, {"key": "the-internal-revenue-service", "type": "definition", "offset": [662, 690]}, {"key": "treatment-of", "type": "clause", "offset": [719, 731]}, {"key": "the-litigation", "type": "definition", "offset": [732, 746]}, {"key": "section-415", "type": "definition", "offset": [768, 779]}, {"key": "the-code", "type": "clause", "offset": [783, 791]}, {"key": "the-accounts", "type": "clause", "offset": [820, 832]}, {"key": "remaining-cash", "type": "definition", "offset": [956, 970]}, {"key": "participant-accounts", "type": "clause", "offset": [1003, 1023]}, {"key": "rolled-over", "type": "definition", "offset": [1096, 1107]}, {"key": "at-the-effective-time", "type": "clause", "offset": [1249, 1270]}, {"key": "the-date-of-receipt", "type": "clause", "offset": [1391, 1410]}, {"key": "irs-private-letter-ruling", "type": "definition", "offset": [1433, 1458]}, {"key": "date-of-this-agreement", "type": "definition", "offset": [1485, 1507]}, {"key": "in-anticipation-of", "type": "definition", "offset": [1512, 1530]}, {"key": "distributions-and", "type": "clause", "offset": [1563, 1580]}, {"key": "respective-representatives", "type": "definition", "offset": [1629, 1655]}, {"key": "prior-to-the-effective-time", "type": "clause", "offset": [1656, 1683]}, {"key": "efforts-to-obtain", "type": "clause", "offset": [1764, 1781]}, {"key": "in-the-event", "type": "clause", "offset": [1823, 1835]}, {"key": "the-allocation", "type": "clause", "offset": [2475, 2489]}, {"key": "provided-that", "type": "clause", "offset": [2676, 2689]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [2741, 2759]}, {"key": "in-no-event-shall", "type": "clause", "offset": [2842, 2859]}, {"key": "amounts-held", "type": "clause", "offset": [2880, 2892]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [2916, 2938]}, {"key": "independent-bank", "type": "definition", "offset": [3060, 3076]}, {"key": "corporation-employee", "type": "definition", "offset": [3077, 3097]}, {"key": "completion-of-the", "type": "clause", "offset": [3201, 3218]}, {"key": "effective-date-of-the-merger", "type": "definition", "offset": [3361, 3389]}, {"key": "account-balances", "type": "definition", "offset": [3434, 3450]}, {"key": "employed-by", "type": "definition", "offset": [3493, 3504]}, {"key": "an-affiliate", "type": "clause", "offset": [3512, 3524]}, {"key": "vesting-schedule", "type": "clause", "offset": [3619, 3635]}, {"key": "on-the-effective-date", "type": "clause", "offset": [3793, 3814]}, {"key": "accounts-established", "type": "clause", "offset": [3912, 3932]}, {"key": "according-to", "type": "definition", "offset": [4006, 4018]}, {"key": "an-employee", "type": "definition", "offset": [4121, 4132]}, {"key": "participate-in", "type": "definition", "offset": [4194, 4208]}, {"key": "requirements-of-the", "type": "clause", "offset": [4342, 4361]}, {"key": "employees-shall", "type": "clause", "offset": [4383, 4398]}, {"key": "eligibility-and-vesting", "type": "clause", "offset": [4418, 4441]}, {"key": "services-rendered", "type": "definition", "offset": [4478, 4495]}, {"key": "consolidated-bank", "type": "definition", "offset": [4586, 4603]}, {"key": "from-and-after-the-effective-time", "type": "clause", "offset": [4604, 4637]}, {"key": "in-the-same-manner", "type": "definition", "offset": [4690, 4708]}, {"key": "maintain-and-operate", "type": "definition", "offset": [4755, 4775]}, {"key": "in-accordance-with", "type": "clause", "offset": [4802, 4820]}, {"key": "terms-and", "type": "clause", "offset": [4838, 4847]}, {"key": "applicable-provisions", "type": "definition", "offset": [4852, 4873]}, {"key": "rights-of", "type": "definition", "offset": [5000, 5009]}, {"key": "esop-accounts", "type": "definition", "offset": [5074, 5087]}, {"key": "vesting-of-account", "type": "clause", "offset": [5311, 5329]}, {"key": "provisions-of-the", "type": "clause", "offset": [5346, 5363]}, {"key": "applies-to", "type": "clause", "offset": [5409, 5419]}, {"key": "at-the-time", "type": "clause", "offset": [5446, 5457]}, {"key": "adversely-affect", "type": "definition", "offset": [5573, 5589]}, {"key": "in-connection-with", "type": "clause", "offset": [5752, 5770]}, {"key": "except-to-the-extent", "type": "clause", "offset": [5817, 5837]}, {"key": "to-maintain", "type": "clause", "offset": [5847, 5858]}, {"key": "tax-qualified-status", "type": "clause", "offset": [5874, 5894]}, {"key": "respective-affiliates", "type": "definition", "offset": [5959, 5980]}, {"key": "actions-necessary", "type": "clause", "offset": [5996, 6013]}, {"key": "the-program", "type": "clause", "offset": [6028, 6039]}, {"key": "without-limitation", "type": "clause", "offset": [6097, 6115]}, {"key": "amendments-to-the", "type": "clause", "offset": [6122, 6139]}], "hash": "1135877b26d937fc545f0f118626b00d", "id": 9}, {"size": 7, "snippet": "\u201cESOP\u201d shall mean an employee stock ownership plan sponsored by First Federal and that will buy SHC Common Stock in the Reorganization.", "samples": [{"hash": "csmd77yMy1p", "uri": "/contracts/csmd77yMy1p#esop", "label": "Merger Agreement (Kentucky First Federal Bancorp)", "score": 21.0, "published": true}, {"hash": "aIxXGSqX2OH", "uri": "/contracts/aIxXGSqX2OH#esop", "label": "Merger Agreement (Frankfort First Bancorp Inc)", "score": 21.0, "published": true}, {"hash": "7O2B85nzdL8", "uri": "/contracts/7O2B85nzdL8#esop", "label": "Agreement of Merger (Kentucky First Federal Bancorp)", "score": 21.0, "published": true}], "snippet_links": [{"key": "employee-stock-ownership-plan", "type": "clause", "offset": [21, 50]}, {"key": "sponsored-by", "type": "definition", "offset": [51, 63]}, {"key": "first-federal", "type": "definition", "offset": [64, 77]}, {"key": "shc-common-stock", "type": "definition", "offset": [96, 112]}, {"key": "the-reorganization", "type": "clause", "offset": [116, 134]}], "hash": "8f2002bd3a4e21b27927c714add7cbe5", "id": 3}, {"size": 3, "snippet": "Allergan and AMO shall each take actions or cause actions to be taken as necessary to accomplish the following with respect to the Allergan ESOP.\n(a) Effective as of the Distribution Date, AMO Employees shall cease to be eligible to receive allocations under the Allergan ESOP, including allocation of unallocated assets in the event of the termination of the Allergan ESOP.\n(b) Effective as of the Distribution Date, Allergan shall take action or cause action to be taken to transfer the assets and liabilities attributable to the accounts of the AMO Employees under the Allergan ESOP that are held by its related trust to the AMO 401(k) Plan and its related trust in accordance with Section 414(l) of the Code, Treasury Regulation Section 1.414(l)-1, and Section 208 of ERISA. Such assets of the Allergan ESOP shall be transferred in-kind to the trust established under the AMO 401(k) Plan. AMO shall take action or cause action to be taken to cause the AMO 401(k) Plan to assume and be solely responsible for all liabilities relating to, arising out of, or resulting from AMO Employees under the Allergan ESOP.\n(c) Allergan and AMO each agree to take action or cause action to be taken to ensure that no distribution of account balances from the Allergan ESOP or the AMO 401(k) Plan are made to any AMO Employee with respect to AMO Employees' accounts under the Allergan ESOP on account of the transfer of employment to the AMO Group, or the AMO Group ceasing to be an Affiliate of the Allergan Group as of the Distribution Date.", "samples": [{"hash": "l7Ts4tAXtHq", "uri": "/contracts/l7Ts4tAXtHq#esop", "label": "Employee Matters Agreement (Amo Holdings LLC)", "score": 18.0, "published": true}, {"hash": "iT1tBd4XB2d", "uri": "/contracts/iT1tBd4XB2d#esop", "label": "Employee Matters Agreement (Allergan Inc)", "score": 18.0, "published": true}, {"hash": "djfrwYPGzb2", "uri": "/contracts/djfrwYPGzb2#esop", "label": "Employee Matters Agreement (Advanced Medical Optics Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "actions-to-be-taken", "type": "clause", "offset": [50, 69]}, {"key": "with-respect-to", "type": "clause", "offset": [111, 126]}, {"key": "the-distribution-date", "type": "definition", "offset": [166, 187]}, {"key": "employees-shall", "type": "clause", "offset": [193, 208]}, {"key": "to-be-eligible", "type": "clause", "offset": [215, 229]}, {"key": "to-receive", "type": "definition", "offset": [230, 240]}, {"key": "allocation-of", "type": "clause", "offset": [288, 301]}, {"key": "unallocated-assets", "type": "definition", "offset": [302, 320]}, {"key": "in-the-event-of", "type": "clause", "offset": [321, 336]}, {"key": "termination-of-the", "type": "clause", "offset": [341, 359]}, {"key": "action-to-be-taken", "type": "clause", "offset": [454, 472]}, {"key": "to-transfer", "type": "clause", "offset": [473, 484]}, {"key": "assets-and-liabilities", "type": "clause", "offset": [489, 511]}, {"key": "the-accounts", "type": "clause", "offset": [528, 540]}, {"key": "related-trust", "type": "definition", "offset": [607, 620]}, {"key": "in-accordance-with", "type": "clause", "offset": [666, 684]}, {"key": "the-code", "type": "clause", "offset": [703, 711]}, {"key": "treasury-regulation", "type": "clause", "offset": [713, 732]}, {"key": "section-208", "type": "clause", "offset": [757, 768]}, {"key": "trust-established", "type": "clause", "offset": [848, 865]}, {"key": "to-assume", "type": "clause", "offset": [972, 981]}, {"key": "responsible-for", "type": "clause", "offset": [996, 1011]}, {"key": "relating-to", "type": "definition", "offset": [1028, 1039]}, {"key": "arising-out-of", "type": "definition", "offset": [1041, 1055]}, {"key": "resulting-from", "type": "definition", "offset": [1060, 1074]}, {"key": "agree-to", "type": "clause", "offset": [1140, 1148]}, {"key": "to-ensure", "type": "clause", "offset": [1189, 1198]}, {"key": "account-balances", "type": "definition", "offset": [1223, 1239]}, {"key": "transfer-of-employment", "type": "clause", "offset": [1397, 1419]}, {"key": "amo-group", "type": "definition", "offset": [1427, 1436]}, {"key": "ceasing-to-be", "type": "clause", "offset": [1455, 1468]}, {"key": "affiliate-of", "type": "definition", "offset": [1472, 1484]}, {"key": "allergan-group", "type": "definition", "offset": [1489, 1503]}], "hash": "adee4b072c3a43c285cbc4e2c7a2d6dc", "id": 10}], "next_curs": "Ck0SR2oVc35sYXdpbnNpZGVyY29udHJhY3RzcikLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ig1lc29wIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"title": "ESOP", "size": 333, "parents": [["covenants", "Covenants"], ["representations-and-warranties", "Representations and Warranties"], ["additional-agreements", "Additional Agreements"], ["definitions", "Definitions"], ["representations-and-warranties-of-the-warrantors", "Representations and Warranties of the Warrantors"]], "children": [["treatment-of-the-esop", "Treatment of the ESOP"], ["cswi-shares-in-the-esop", "CSWI Shares in the ESOP"], ["no-loss-of-unvested-benefits-no-distributions", "No Loss of Unvested Benefits; No Distributions"], ["assumption-of-health-and-welfare-plan-liabilities", "ASSUMPTION OF HEALTH AND WELFARE PLAN LIABILITIES"], ["establishment-of-mirror-ltd-veba", "ESTABLISHMENT OF MIRROR LTD VEBA"]], "id": "esop", "related": [["stock-ownership", "Stock Ownership", "Stock Ownership"], ["deferred-compensation-account", "Deferred Compensation Account", "Deferred Compensation Account"], ["deferred-compensation-plans", "Deferred Compensation Plans", "Deferred Compensation Plans"], ["savings-plans", "Savings Plans", "Savings Plans"], ["savings-plan", "Savings Plan", "Savings Plan"]], "related_snippets": [], "updated": "2025-12-31T05:33:30+00:00"}, "json": true, "cursor": ""}}