Common use of Termination of 401(k) Plan Clause in Contracts

Termination of 401(k) Plan. The Company agrees to adopt resolutions -------------------------- to terminate its 401(k) plan immediately prior to Closing, unless the Parent, in its sole and absolute discretion, agrees to sponsor and maintain such plans by providing the Company with written notice of such election at least three (3) days before the Effective Time. Unless the Parent provides such notice to the Company, the Parent shall receive from the Company evidence that the Company's Board of Directors has adopted resolutions to terminate the 401(k) plan (the form and substance of which resolutions shall be subject to review and approval of the Parent), effective as of the day immediately preceding the Closing Date but contingent on the Closing.

Termination of 401(k) Plan. The Company agrees to adopt resolutions -------------------------- to terminate its 401(k) plan immediately prior to Closing, unless the Parent, in its sole and absolute discretion, agrees to sponsor and maintain such plans by providing the Company with written notice of such election at least three (3) days before the Effective Time. Unless the Parent provides such notice to the Company, the Parent shall receive from the Company evidence that the Company's ’s Board of Directors has adopted resolutions to terminate the 401(k) plan (the form and substance of which resolutions shall be subject to review and approval of the Parent), effective as of the day immediately preceding the Closing Date but contingent on the Closing. Parent shall take reasonable business efforts to facilitate rollover contributions on behalf of each of the Company’s employees as of the Effective Time to the tax-qualified plan maintained by Parent.

Termination of 401(k) Plan. The Company agrees to adopt resolutions -------------------------- to terminate its 401(k) plan immediately prior to Closing, unless the If Parent, in its sole and absolute discretion, agrees to sponsor and maintain such plans by providing provides the Company with written notice of such election at least three (3) days before the Effective TimeClosing Date, the Company and any Subsidiary that is a plan sponsor of a 401(k) plan agrees to adopt resolutions to terminate its 401(k) plan and fully vest plan participants immediately prior to the Closing. Unless the Parent provides If such notice to the Companyis received, the Parent shall receive from the Company evidence that the Company's Company Board or the Board of Directors of the relevant Subsidiary has adopted resolutions to terminate the 401(k) plan (the form and substance of which resolutions shall be subject to review and approval of the Parent), effective as of the day immediately preceding the Closing Date but contingent on upon the Closing.

Termination of 401(k) Plan. The Company agrees to adopt resolutions -------------------------- to terminate its 401(k) plan immediately prior to Closing, unless the If Parent, in its sole and absolute discretion, agrees to sponsor and maintain such plans by providing provides the Company with written notice of such election at least three (3) days before the Effective TimeClosing Date, the Company and each Subsidiary that is a plan sponsor of a 401(k) plan agrees to adopt resolutions to terminate its 401(k) plan and fully vest plan participants immediately prior to the Closing. Unless the Parent provides If such notice to the Companyis received, the Parent shall receive from the Company evidence that the Company's Board of Directors of the relevant company has adopted resolutions to terminate the 401(k) plan (the form and substance of which resolutions shall be subject to review and approval of the Parent), effective as of the day immediately preceding the Closing Date but contingent on upon the Closing.