Rollover of Account Balances. Varex Employees shall be eligible to participate in the Varex 401(k) Plan as of no later than the Effective Time to the extent that they were eligible to participate in the Parent 401(k) Plan as of immediately prior to the Effective Time. As soon as reasonably practicable following the Distribution Date, Varex shall permit each Varex Employee to make contributions of “eligible rollover distributions” (within the meaning of Section 401(a)(31) of the Code) in the form of cash (or, in the case of loans, notes) in an amount equal to the full account balance distributable to such Varex Employee from the Parent 401(k) Plan to the Varex 401(k) Plan.
Appears in 5 contracts
Samples: Employee Matters Agreement, Employee Matters Agreement (Varex Imaging Corp), Employee Matters Agreement (Varian Medical Systems Inc)
