Excluded Plans definition
Examples of Excluded Plans in a sentence
Sellers shall be solely responsible for and shall retain all Liabilities with respect to the Excluded Plans and the Accrued Employee Obligations.
None of the IPG Plans, the New IPG Plans, or the Excluded Plans are, to the knowledge of Sellers or Parent, presently under audit or examination (nor has notice been received of any potential audit or examination) by any Governmental Authority.
As of the Closing Date, the Companies and the Subsidiaries shall cease to be participating employers under the Excluded Plans, and Parent, to the extent permitted by applicable Laws, shall take, or cause to be taken, all such actions as may be necessary to effectuate such cessation of participation.
Except as provided by applicable Law, Seller shall be solely responsible and shall retain all Liabilities with respect to the Excluded Plans.
Notwithstanding the foregoing, for a period of six months following the Distribution Date, Sedco Forex shall provide severance benefits for each Sedco Forex Employee that are not less than the employer-provided severance benefits applicable to such employee immediately prior to the Distribution Date, excluding benefits under the Excluded Plans.