Key Employee Plans definition

Key Employee Plans means the key employee plans as defined in the First Lien Credit Agreement.
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Key Employee Plans means, collectively, (i) the Key Employee Retention Plan approved by the Bankruptcy Court pursuant to the Order Authorizing the Debtors to Implement a Key Employee Retention Plan [D.I. 1762] and (ii) the Key Employee Incentive Plan approved by the Bankruptcy Court pursuant to the Order Authorizing the Debtors to Implement a Key Employee Incentive Plan [D.I. 1861] and the Supplemental Order Authorizing the Debtors to Implement a Key Employee Incentive Plan [D.I. 2002].
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Key Employee Plans means a retention plan with respect to certain key employees of the Credit Parties and an incentive plan with respect to certain officers of the Credit Parties; provided that (i) total payments under the key employee retention plan shall not exceed $624,000 and under the key officer incentive plan shall not exceed $1,341,000 (of which twenty five percent shall be payable solely in connection with a Consummation Transaction which provides for payment in full, in cash of the Obligations) and (ii) in each case the final documentation with respect thereto shall (A) be reasonably satisfactory to Agent and its counsel, (B) preclude payment of amounts to or for the benefit of any individual employee or officer in excess of the amount proposed by the Borrower and consented to by Agent.
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Examples of Key Employee Plans in a sentence

  • True and complete copies of each of the Key Employee Plans have been made available to the Buyer prior to the date hereof.

  • Borrower shall provide to Agent a true and correct copy of each employment agreement entered into by a Credit Party or a Subsidiary thereof with an employee party to the Key Employee Plans within ten (10) Business Days following the Ninth Amendment Effective Date.

  • Borrower shall provide to Agent a true and correct copy of each employment agreement entered into by a Credit Party or a Subsidiary thereof with an employee party to the Key Employee Plans within ten (10) Business Days following the Second Amendment Effective Date.

  • In the event the Company terminates Executive's employment without Cause, or if Executive terminates his employment due to a Constructive Termination, Executive shall be eligible for the severance benefits provided pursuant to a Covered Termination under the Key Employee Plan (as identified in the Key Employee Plan's Schedule of Benefits for the Company's Vice Presidents), subject to Executive's signing and making effective a Release Agreement as set forth in Section 9 below.

  • None of the Key Employee Plans provide retiree health or life insurance benefits, except as may be required by Section 4980B of the Code and Section 601 of ERISA, any other Applicable Law or at the expense of the participant or the participant’s beneficiary.

  • None of the Key Employee Plans provide retiree health or life insurance benefits, except as may be required by Section 4980B of the Code and Section 601 of ERISA, any other applicable Law or at the expense of the participant or the participant’s beneficiary.

  • All other terms of the Award will be consistent with the standard form of grant agreement under the Key Employee Plan as in effect on the date of grant, except that if the Award is subject to vesting, the vesting of the Award will not be accelerated upon your Retirement, as that term is defined in the Omnibus and Key Employee Plans.