Buyer DC Plan definition

Buyer DC Plan has the meaning set forth in Section 5.2(f).
Sample 1Sample 2
Buyer DC Plan shall have the meaning assigned thereto in Section 6.3(g)(ii).
Sample 1Sample 2
Buyer DC Plan means the defined contribution plan(s) and related trust(s) intended to be qualified under Sections 401(a), 401(k) and 501(a) of the Code that is sponsored by Buyer or one of its Affiliates and in which Transferred Employees are eligible to participate after Closing.
Sample 1Sample 2Sample 3

Examples of Buyer DC Plan in a sentence

  • To the extent required under the Collective Bargaining Agreement, the Buyer DC Plan shall have terms and features (including employer contribution provisions) that are substantially identical to the applicable hourly Seller DC Plan that covers union Transferred Employees.

  • Effective as of the Applicable Transfer Time or any subsequent date reasonably requested by Buyer (but not later than the 60th day following the Applicable Transfer Time), Buyer shall cause each Transferred Employee to be eligible to effect a “direct rollover” (as described in Section 401(a)(31) of the Code) of their account balances (including participant loans) under the Seller DC Plan to the Buyer DC Plan in the form of cash and participant loan notes.

  • If the election specified pursuant to Section 5.04(f)(ii) is made with respect to an International Parent DC Plan, the corresponding International Buyer DC Plan shall have terms and features that are substantially identically to such International Parent DC Plan, so that such International Parent DC Plan is substantially replaced by such corresponding International Buyer DC Plan.

  • The Buyer DC Plan shall protect, maintain and continue any rights or features of the Seller DC Plan that, pursuant to the provisions of Section 411(d)(6) of the Code, are required to be continued for the benefit of the Employees, but only to the extent required by Section 411(d)(6).

  • No assets or liabilities of any Parent DC Plan shall be transferred to any Buyer DC Plan, other than in connection with a rollover of a Transferred Employee’s account balance under a Parent DC Plan.

  • Effective as of the Applicable Transfer Time or any subsequent date reasonably requested by Buyer (but not later than the 60th day following the Applicable Transfer Time), all such Transferred Employees shall be eligible to effect a “direct rollover” (as described in Section 401(a)(31) of the Code) of their account balances (including participant loans) under the Seller DC Plan to the Buyer DC Plan in the form of cash and participant loan notes.

  • Buyer and Seller shall take all actions necessary to allow the Transferred Employees to make eligible rollover contributions to the Buyer DC Plan of their account balances (including the rollover of any loans, if applicable) from the Seller DC Plan as soon as practicable following the Closing.

  • The DC Employees shall be given credit under the respective Buyer DC Plan for all service with Seller and its Affiliates and their respective predecessors as if it were service with Buyer for purposes of determining eligibility and vesting under each respective Buyer DC Plan, solely to the extent such service is credited for the purposes of the applicable defined contribution plan in which the Transferred Employee participated immediately prior to Closing.

  • Buyer shall cause the Transferred DC Liabilities and the DC Transfer Amounts to be accepted by the applicable International Buyer DC Plan.

  • As promptly as practicable after the Closing Date, the Seller shall cause the trustee of the El Paso Energy Corporation Retirement Savings Plan ("Seller DC Plan") to transfer to the trustee of the Buyer DC Plan, and the Buyer shall cause the trustee of the Buyer DC Plan to accept, the account balances of each Employee with respect to whom the Seller DC Plan maintains an account as of the close of business on the Closing Date.


More Definitions of Buyer DC Plan

Buyer DC Plan is defined in Section 5.5(h).
Sample 1Sample 2
Buyer DC Plan has the meaning set forth in Section 6.7(c) (Employee Matters).
Sample 1
Buyer DC Plan has the meaning set forth in ss.6(d)(ii).
Sample 1
Buyer DC Plan has the meaning given such term in Section 9.3(f). Equity Purchase Agreement
Sample 1
Buyer DC Plan has the meaning set forth in Section 9.10.
Sample 1

Related to Buyer DC Plan

  • Buyer 401(k) Plan has the meaning set forth in Section 6.01(h).

  • Seller 401(k) Plan shall have the meaning set forth in Section 6.01(i).

  • Buyer Benefit Plans has the meaning set forth in Section 6.10(f).

  • Purchaser Benefit Plans has the meaning set forth in Section 8.7(d).

  • Seller Plan means any Employee Benefit Plan maintained, or contributed to, by the Seller or any ERISA Affiliate.

  • Buyer Plans has the meaning set forth in Section 6.02(b).

  • Purchaser Plans shall have the meaning set forth in Section 6.6(a)(v).

  • Seller Benefit Plan means each Benefit Plan sponsored, maintained or contributed to by Seller or any of its Subsidiaries or with respect to which Seller or any of its Subsidiaries is a party and in which any Employee is or becomes eligible to participate or derive a benefit.

  • Defined Contribution Plan A retirement plan which provides for an individual account for each participant and for benefits based solely on the amount contributed to the participant's account, and any income, expenses, gains and losses, and any forfeitures of accounts of other participants which the plan may allocate to such participant's account. The Advisory Committee must treat all defined contribution plans (whether or not terminated) maintained by the Employer as a single plan. Solely for purposes of the limitations of Part 2 of this Article III, the Advisory Committee will treat employee contributions made to a defined benefit plan maintained by the Employer as a separate defined contribution plan. The Advisory Committee also will treat as a defined contribution plan an individual medical account (as defined in Code Section 415(l)(2)) included as part of a defined benefit plan maintained by the Employer and, for taxable years ending after December 31, 1985, a welfare benefit fund under Code Section 419(e) maintained by the Employer to the extent there are post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code Section 419A(d)(3)).

  • Seller Benefit Plans has the meaning set forth in Section 4.10(a).

  • Company Employee Plan means any plan, program, policy, practice, contract, agreement or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written or unwritten or otherwise, funded or unfunded, including without limitation, each "employee benefit plan," within the meaning of Section 3(3) of ERISA which is or has been maintained, contributed to, or required to be contributed to, by the Company or any Affiliate for the benefit of any Employee, or with respect to which the Company or any Affiliate has or may have any liability or obligation;

  • Parent Benefit Plans has the meaning set forth in Section 5.07(b).

  • Parent Benefit Plan means any Employee Benefit Plan maintained by, sponsored by or contributed to by, or obligated to be contributed to by any Parent Group Entity.

  • Company Share Plans mean (a) the Company’s Stock Related Award Incentive Plan of 1999, as amended; (b) the Company’s 2010 Stock Incentive Plan, as amended; and (c) the Company’s 2015 Stock Incentive Plan, as amended;

  • Company Employee Plans has the meaning set forth in Section 3.12(a).

  • Transferred Employees has the meaning set forth in Section 6.4(a).

  • Company Stock Option Plans has the meaning ascribed to it in Section 2.6(c).

  • Parent Plan has the meaning set forth in Section 7.8(b).

  • EHC plan means an Education, Health and Care plan made under sections 37(2) of the Children and Families Act 2014.

  • Parent Plans has the meaning set forth in Section 6.4(c).

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Parent 401(k) Plan has the meaning set forth in Section 6.6(e).

  • Buyer Party means each of (i) the Buyer and (ii) each Affiliate of the Buyer that is a party to a Transaction Agreement.

  • Buyer Parent has the meaning set forth in the Preamble.

  • Defined Contribution Plan Fraction means a fraction, the numerator of which is the sum of the Annual Additions to the Member's account under all the defined contribution plans (whether or not terminated) maintained by the Employer for the current and all prior Limitation Years (including the Annual Additions attributable to the Member's nondeductible employee contributions to all defined benefit plans, whether or not terminated, maintained by the Employer, and the Annual Additions attributable to all welfare benefit funds, as defined in Code Section 419(e), and individual medical accounts, as defined in Code Section 415(l)(2), maintained by the Employer), and the denominator of which is the sum of the maximum aggregate amounts for the current and all prior Limitation Years of service with the Employer (regardless of whether a defined contribution plan was maintained by the Employer). The maximum aggregate amount in any Limitation Year is the lesser of 125 percent of the dollar limitation determined under Code Section 415(b) and (d) in effect under Code Section 415(c)(1)(A) of the Code or 35 percent of the Member's Compensation for such year. If the Member was a member as of the end of the first Limitation Year beginning after December 31, 1986, in one or more defined contribution plans maintained by the Employer which were in existence on May 6, 1986, the numerator of this fraction shall be adjusted if the sum of this fraction and the Defined Benefit Plan Fraction would otherwise exceed 1.0 under the terms of this Plan. Under the adjustment, an amount equal to the product of (1) the excess of the sum of the fractions over 1.0 times (2) the denominator of this fraction, will be permanently subtracted from the numerator of this fraction. The adjustment is calculated using the fractions as they would be computed as of the end of the last Limitation Year beginning before January 1, 1987, and disregarding any changes in the terms and conditions of the plan made after May 5, 1986, but using the Code Section 415 limitations applicable to the first Limitation Year beginning on or after January 1, 1987. The Annual Addition for any Limitation Year beginning before January 1, 1987, shall not be recomputed to treat all employee contributions as Annual Additions.

  • Company Stock Option Plan means each stock option plan, stock award plan, stock appreciation right plan, phantom stock plan, stock option, other equity or equity-based compensation plan, equity or other equity based award to any employee, whether payable in cash, shares or otherwise (to the extent not issued pursuant to any of the foregoing plans), or other plan or contract of any nature with any employee pursuant to which any stock, option, warrant or other right to purchase or acquire capital stock of the Company or right to payment based on the value of Company capital stock has been granted or otherwise issued.