Excluded Plan definition
Examples of Excluded Plan in a sentence
Other than routine claims for benefits, there are no material proceedings or claims pending or, to the knowledge of Sellers or Parent, threatened with respect to any IPG Plan, New IPG Plan, or, to the extent it could reasonably be expected to result in Liability to Buyer or any IPG Entity, any Excluded Plan.
Parent has made available to Buyer for each IPG Plan listed in Schedule 3.13(a)(i), each material plan document, trust agreement insurance contract, or other funding arrangement and all current summary plan descriptions and for each material Excluded Plan that covers Business Employees, a summary of such Excluded Plan.
Any benefits provided upon termination of employment under any employee benefit plan of the Company, in accordance with the terms of such plan, other than benefits provided under an Excluded Plan.
Seller shall take all necessary actions such that at Closing the Company is no longer a participating employer (or any comparable status) under any Excluded Plan.
Notwithstanding the foregoing or any other provision of this Agreement, Seller shall retain full responsibility for all reporting and financial obligations associated with the Excluded Plan.
P = the aggregate consideration received for the issuance of such additional shares of Common Stock or Plan Stock (in each case other than Excluded Plan Stock).
The participants in the Midwest Transfer Excluded Plan will become participants in the New Plan, and their elections from the Midwest Transfer Excluded Plan will carry over to the New Plan, without any action required by the participants.
Any loans to the participants under the Midwest Transfer Excluded Plan will not be accelerated due to the actions contemplated by this Section 6.08 and Sellers will ensure that such loans may continue to be repaid through salary withholdings, with no action required by the participants.
O = the aggregate number of shares of Common Stock and Plan Stock (in each case other than Excluded Plan Stock) outstanding immediately prior to the issuance of such additional shares.
Prior to the Closing Date, the Midwest Transfer Excluded Plan will be amended to remove the Company and any of its subsidiaries as sponsors or participating employers, and to adopt the Midwest Transfer Excluded Plan by an ERISA Affiliate of the Company, which ERISA Affiliate will be a newly formed Wisconsin corporation (“Newco”).