Business Employee Plan definition

Business Employee Plan means (a) all material “employee benefit plans,” as defined in Section 3(3) of ERISA (whether or not subject to ERISA), (b) all other material severance pay, salary continuation, bonus, incentive, equity-based, retirement, pension, retention, change of control, health, medical, dental, disability, accident, life insurance, vacation, relocation, loan, fringe benefit, profit sharing or deferred compensation plans, Contracts, programs, funds, or arrangements of any kind and (c) all other material employee benefit plans, Contracts, programs, funds, or arrangements (whether or not subject to ERISA) and any trust, escrow, or similar agreement related thereto, whether or not funded, in each case (y) in respect of any present or former employees, directors, officers, shareholders, individual consultants, or individual independent contractors of the Target Group or its Subsidiaries that are sponsored or maintained by the Target Group or any ERISA Affiliate or (z) with respect to which the Target Group or its Subsidiaries have made or are required to make payments, transfers, or contributions or have, or may reasonably be expected to have, any Liability.
Business Employee Plan means each Benefit Plan maintained, sponsored or contributed to solely for the benefit of the Business Employees, other than the Seller U.K. Pension Plan.
Business Employee Plan means an Employee Plan that is maintained or sponsored solely by MONY.

Examples of Business Employee Plan in a sentence

  • Seller has also made available the most recent summary plan descriptions, the most recent actuarial valuation reports, the most recent filed Forms 5500 and the most recent determination letter, in each case, to the extent applicable, for each material Assumed Business Employee Plan.

  • For each of the Assumed Business Employee Plans, Seller has also made available to Purchaser a true, complete, and correct copy of the current plan document(s) with all amendments thereto and all current related trust documents, material insurance contracts or other funding vehicles and all material correspondence to or from any Governmental Entity received in the last year with respect to any Assumed Business Employee Plan or for which a Liability remains outstanding.

  • Except for the Section 5.9 Plans (and with respect to such plans only to the extent described in this Section 5.9), neither Purchaser nor MONY shall have any obligation to, with respect to or under any Business Employee Plan, and shall not be obligated to assume or maintain any Business Employee Plan.

  • Except as expressly provided in this Agreement, nothing in this Agreement shall preclude Purchaser or any of its Affiliates, at any time after the Closing, from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any Business Employee Plan, any benefit under any Business Employee Plan or Non-U.S. Business Employee Plan or any trust, insurance policy or funding vehicle related to any Business Employee Plan or Non-U.S. Business Employee Plan.

  • Full payment has been made of all amounts due under each of the Sellers’ Business Employee Plans and the Applicable Multiemployer Plan and to each person employed or formerly employed by the Business that are required under the terms of the Sellers’ Business Employee Plans and the Applicable Multiemployer Plan, and all obligations regarding the Sellers’ Business Employee Plan or Applicable Multiemployer Plan required to be satisfied prior to the date hereof have been satisfied.


More Definitions of Business Employee Plan

Business Employee Plan means each Benefit Plan (i) that is sponsored, maintained, provided or contributed to or required to be sponsored, maintained, provided or contributed to by Seller or any of its Subsidiaries, including any of the Sold Entities, or to which Seller or any of its Subsidiaries, including any of the Sold Entities is a party, in each case providing compensation or benefits to any current or former employee or director of any of the Sold Entities or any current or former Seconded Employee or (ii) under which any of the Sold Entities has had or has any present or future liability.
Business Employee Plan shall have the meaning set forth in Section 5.17(a).
Business Employee Plan means each Benefit Plan maintained, sponsored or contributed to solely for the benefit of the Business Employees located in the United States, (iii) the termParent Plan” means a Benefit Plan maintained, sponsored or contributed to by Sellers or any of their Affiliates for the benefit of Business Employees and other employees of Sellers and their Subsidiaries, and (iv) the term “Non-U.S. Business Employee Plan” means each Benefit Plan maintained, sponsored or contributed to solely for the benefit of the Business Employees located outside the United States. Section 3.10(a) of the Seller Disclosure Schedule identifies each Business Employee Plan, each Non-U.S. Business Employee Plan and each material Parent Plan. No Parent Plan is sponsored by any member of the Education Group.
Business Employee Plan means each Benefit Plan maintained, sponsored or contributed to solely for the benefit of the Business Employees.
Business Employee Plan. Any Novartis Plan which covers any current or former Business Employees. "Business Orders" As defined in Section 4.16. "Business Products" Goods produced, distributed, marketed or sold by the Business on the Closing Date under the brand names listed in Schedule 1(a)(ii), or otherwise. "Buyer" As defined on the title page. "Buyer Designated Affiliate" As defined in Section 10.7. "Buyer Incurred Damages" As defined in Section 6.1(a). "Buyer's Clinical Nutrition Business" The business conducted by the Buyer and its Affiliates (including by using assets, properties and rights used by the relevant business unit(s) of the Buyer and its Affiliates) of developing, manufacturing, marketing, distributing and selling enteral nutrition products (including both branded and unbranded products and also tube feed and sip feed products) and clinical oral nutrition products (including both branded and unbranded products and includes all packaging types), in both the institutional and retail channels, and medical devices related to enteral nutrition. "Cash Pooling Loans" As defined in Section 2.4. "Closing" As defined in Section 9.1. "Closing Date" As defined in Section 9.1. "Closing Date Net Debt" As defined in Section 2.3(d). "Closing Date Working Capital" As defined in Section 2.3(d). "Code" The United States Internal Revenue Code of 1986, as amended. "Commissioner" As defined in Section 8.1(a). "Companies" As defined in the Preamble, including from after the consummation of the relevant Spin-Offs, Nutrition Canada, Nutrition Italy and Nutrition Brazil. "Companies' Intellectual Property" As defined in Section 4.20(a). "Companies' Know-How" All Know-How owned by the Companies. "Competition Act" As defined in Section 4.19. "Confidentiality Agreement" As defined in Section 10.1. "Contest" As defined in Section 6.8(b). "Corporate Balance Sheet Items" As defined in Section 4.6(a). "Current Assets" The aggregate amount in US dollars of current assets included in accordance with the Accounting Principles consistently applied in the line items specified under the caption "Assets" in Schedule 1(a)(vii), to the extent not included in the calculation of the Net Debt Position.
Business Employee Plan means each Employee Plan that Seller or any of its Affiliates sponsors, or contributes to (or could be required to contribute to) for the benefit of, any Business Employee, other than such plans or arrangements that are solely maintained by a Government Authority.
Business Employee Plan means each “employee benefit plan” as such term is defined in Section 3(3) of ERISA and all stock purchase, stock option, severance, employment, change-in-control, fringe benefit, collective bargaining, bonus, incentive, deferred compensation, employee loan and all other employee benefit plans, agreements, programs, policies or other arrangements, whether or not subject to ERISA (including any funding mechanism therefor now in effect or required in the future as a result of the transaction contemplated by this Agreement or otherwise), under which any current or former employee, director or consultant of Seller has any present or future right to benefits or which has ever or are contributed to, sponsored by or maintained by Seller for current or former employee, director or consultant.