PPD 401(k) Plan definition
Examples of PPD 401(k) Plan in a sentence
All contributions payable to the PPD 401(k) Plan with respect to employee deferrals and contributions, matching contributions and other contributions for Furiex Participants through the Distribution Date, determined in accordance with the terms and provisions of the PPD 401(k) Plan, ERISA and the Code, shall be paid by PPD to the PPD 401(k) Plan prior to the date of the asset transfer described in subsection (b), above.
No later than thirty (30) days prior to the date of any transfer of assets and liabilities pursuant to Section 3.1(b), PPD and Furiex (each acting directly or through their respective Affiliates) shall, to the extent necessary, file Internal Revenue Service Form 5310-A regarding the transfer of assets and liabilities from the PPD 401(k) Plan to the Furiex 401(k) Plan as described in this Section 3.1.
Upon notice from Sellers, APBI will cause the New Plan to distribute or forfeit elective deferral and matching contributions included in the transfer to the extent that Sellers reasonably determine is necessary to ensure the PPD 401(k) Plan's compliance with the limitations of Code Sections 401(k), 401(m), 402(g) and 415 for plan years during which APBI Employees participated in the PPD 401(k) Plan.
The transfer shall include both the vested and non-vested PPD 401(k) Plan benefits of the APBI Employees, and the PPD 401(k) Plan will not apply its forfeiture provisions to the APBI Employees between the Closing Date and the transfer date.
Retirement Savings Plan (the "PPD 401(k) Plan") all of Employee's vested account balances in defined contribution plans sponsored by E▇▇ L▇▇▇▇ and Company ("Lilly") , provided, however, that such defined contribution plans sponsored by Lilly permit such rollover and the PPD 401(k) Plan permits acceptance of such rollover amounts.
The New Plan shall credit each APBI Employee with the vesting service that he or she had accrued under the PPD 401(k) Plan as of the Closing Date (as well as vesting service for his or her APBI employment after the Closing Date).
Retirement Savings Plan (the "PPD 401(k) Plan") to transfer all of its assets and liabilities attributable to those PPD 401(k) Plan participants who are officers or employees of APBI on the transfer date described below (the "APBI Employees") to a separate, new 401(k) plan which will be sponsored and maintained by APBI and/or its affiliates (the "New Plan").
This plan spin-off shall comply with Code Section 414(l), ERISA Section 208, and Sections 12.6(b) and 12.3 of the PPD 401(k) Plan.
The PPD 401(k) Plan assets transferred to the New Plan shall include all rights of the PPD 401(k) Plan with respect to any outstanding plan loans to APBI Employees; outstanding plan loans to APBI Employees will not have to be paid off if kept current, but will continue in effect (with the New Plan as the new creditor) in accordance with the terms of the documents governing such loans.
APBI Employees will not be given the right to receive current distribution of their PPD 401(k) Plan accounts in connection with the spin-off.