Non-U.S. Benefit Plan definition

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

Non-U.S. Benefit Plan means any plan, fund (including any superannuation fund) or other similar program established or maintained outside the United States by any Account Party or any of their Subsidiaries, with respect to which such Account Party or such Subsidiary has an obligation to contribute, for the benefit of employees of such Account Party or such Subsidiary, which plan, fund or other similar program provides, or results in, the type of benefits described in Section 3(1) or 3(2) of ERISA, and which plan is not subject to ERISA or the Code.

Non-U.S. Benefit Plan means a Benefit Plan that is maintained primarily for the benefit of current or former employees or other individual service providers outside of the United States.

Examples of Non-U.S. Benefit Plan in a sentence

• No Non-U.S. Benefit Plan provides for benefits that exceed the statutory minimum benefits required to be provided by the applicable jurisdiction other than the United States.

• Section 5.11(a) of the SpinCo Disclosure Letter (which shall be true and complete within sixty (60) days following the date hereof subject to Section 7.25) sets forth a complete and correct list of each material Benefit Plan and separately identifies each material Benefit Plan that is maintained primarily for the benefit of employees outside of the United States (a “ SpinCo Non-U.S. Benefit Plan ”).

• Each Assumed Benefit Plan that is a Non-U.S. Benefit Plan has, to the extent intended or required to be qualified, approved or registered by or with a Governmental Authority, has been so qualified, approved or registered by or with such Governmental Authority and, to the Knowledge of Seller, no condition exists that would reasonably be expected to jeopardize such qualification, approval or registration, as applicable.

• As of the date of this Agreement, there is no material litigation pending or, to the Knowledge of the Company, threatened relating to any Non-U.S. Benefit Plan.

• There is no Non-U.S. Benefit Plan in the nature of a defined benefit plan or multiemployer plan for the benefit of any Person in, or subject to any legal requirements of, a jurisdiction other than the United States.

More Definitions of Non-U.S. Benefit Plan

Non-U.S. Benefit Plan means any plan, fund (including any superannuation fund) or other similar program established or maintained outside the United States by any Borrower or any of their Subsidiaries, with respect to which such Borrower or such Subsidiary has an obligation to contribute, for the benefit of employees of such Borrower or such Subsidiary, which plan, fund or other similar program provides, or results in, the type of benefits described in Section 3(1) or 3(2) of ERISA, and which plan is not subject to ERISA or the Code.

Non-U.S. Benefit Plan means each Company Benefit Plan that covers current or former Service Providers who are located primarily outside of the United States.

Non-U.S. Benefit Plan means a Plan that is not subject exclusively to United States Law.

Non-U.S. Benefit Plan shall have the meaning specified in Section 6.15(c).

Non-U.S. Benefit Plan means each Benefit Plan that is maintained by an Acquired Company primarily in respect of any past or current employees, contractors, or directors of the Acquired Companies who are located outside of the United States, to whom obligations under such Benefit Plan is or may be owed.

Non-U.S. Benefit Plan means, with respect to an entity, each plan, program, policy, agreement, arrangement or understanding that is maintained primarily for the benefit of employees outside of the United States and is a deferred compensation, executive compensation, incentive bonus or other bonus, pension, profit sharing, savings, retirement, severance pay, salary continuation, life, death benefit, health, hospitalization, sick leave, vacation pay, disability or accident insurance or other employee benefit plan, program, agreement or arrangement, sponsored, maintained or contributed to by such entity or to which such entity is a party or under which such entity has any obligation; provided that no Timken Equity Compensation Award, nor any plan under which any such Timken Equity Compensation Award is granted, will constitute a “Non-U.S. Benefit Plan” under this Employee Matters Agreement. In addition, no Employment Agreement will constitute a Non-U.S. Benefit Plan for purposes hereof.

Non-U.S. Benefit Plan means any Benefit Plan that is subject to the Laws of any jurisdiction outside of the United States (whether or not United States Law also applies) or is sponsored, maintained or contributed to primarily for the benefit of current or former Employee, Worker, officer, director, manager, consultant, Independent Contractor or other service provider of or to any member of the Company Group or any ERISA Affiliate who reside or work primarily outside of the United States.