Employee Plan definition

Employee Plan means an employee benefit plan within the meaning of Section 3(3) of ERISA (other than a Multiemployer Plan), regardless of whether subject to ERISA, that any Loan Party or any of its ERISA Affiliates maintains, sponsors or contributes to or is obligated to contribute to.

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Employee Plan means each "employee benefit plan," as such term is defined in Section 3(3) of ERISA, that (A)(i) is subject to any provision of ERISA and (ii) is maintained or contributed to by the Company, or (B)(i) is subject to any provision of Title IV of ERISA and (ii) is maintained or contributed to by any of the Company's ERISA Affiliates.

Employee Plan means an employee benefit plan (other than a Multiemployer Plan) covered by Title IV of ERISA and maintained (or that was maintained at any time during the six (6) calendar years preceding the date of any borrowing hereunder) for employees of any Loan Party or any of its ERISA Affiliates.

Examples of Employee Plan in a sentence

• No Company Employee Plan is under audit or investigation by any Governmental Authority or subject to suit and, to the Knowledge of the Company, no audit, investigation, or suit is pending or threatened.

• No non-exempt “prohibited transaction” (as defined in Section 4975 of the Code or Section 406 of ERISA) has occurred that involves the assets of any Company Employee Plan and no non-exempt prohibited transaction has occurred that could subject the Company, any ERISA Affiliate, any of their employees, or any trustee, administrator or other fiduciary of any trust created under any Company Employee Plan to any Tax or sanctions on prohibited transactions imposed by Section 4975 of the Code or Title I of ERISA.

• The Seller Parties, the Company and its ERISA Affiliates have performed all obligations required to be performed by them under, are not in default under or in violation of, and have no Company Knowledge of any default or violation by any party to, any Company Employee Plan.

• Each Company Employee Plan can be amended, terminated or otherwise discontinued at any time without liability to the Company, Purchaser or any of their ERISA Affiliates (other than ordinary administration expenses).

• Each Employee Plan is in compliance in all material respects with, and has been administered in compliance with, the applicable provisions of ERISA, the Code, and any other applicable law.

More Definitions of Employee Plan

Employee Plan means an employee pension benefit plan covered by Title IV of ERISA and established or maintained by any Company.

Employee Plan. At any time, an “employee pension benefit plan” as defined in Section 3(2) of ERISA that is subject to Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA (other than a Multiemployer Plan).

Employee Plan has the meaning set forth In Section 5.16.

Employee Plan means any plan, program, agreement, policy or arrangement that is: (a) a welfare benefit plan as defined in Section 3(1) of ERISA; (b) a pension benefit plan within the meaning of Section 3(2) of ERISA; (c) a stock bonus, stock purchase, stock option, restricted stock, stock appreciation right or similar equity-based plan; (d) any other deferred-compensation, retirement, welfare-benefit, bonus, incentive or fringe benefit plan or arrangement, or (e) any other employee benefit plan, program, policy, contract of arrangement.

Employee Plan includes any pension, stock bonus, employee stock ownership plan, retirement, disability, medical, dental or other health plan, life insurance or other death benefit plan, profit sharing, deferred compensation, stock option, bonus or other incentive plan, vacation benefit plan, severance plan or other employee benefit plan or arrangement, including, without limitation, those pension, profit-sharing and retirement plans of the Credit Parties described from time to time in the consolidated financial statements of the Credit Parties and any pension plan, welfare plan, Defined Benefit Pension Plans (as defined in ERISA) or any multi-employer plan, maintained or administered by the Credit Parties or to which is the Credit Parties are a party or may have any liability or by which the Credit Parties are bound.

Employee Plan refers to any plan, program, policy, practice, contract, agreement or other arrangement providing for bonuses, severance, termination pay, performance awards, stock or stock-related awards, fringe benefits or other employee benefits of any kind, whether formal or informal, funded or unfunded and whether or not legally binding, and pursuant to which the Target has or may have any material liability contingent or otherwise;

Employee Plan has the meaning set forth in Section 3.1.16.1.