Purchaser Employee Plan means any “employee benefit plan,” whether or not in writing and whether covering a single individual or a group of individuals, within the meaning of Section 3(3) of ERISA and any other employee benefit plan, including any profit sharing plan, savings plan, bonus plan, performance awards plan, incentive compensation plan, deferred compensation plan, stock purchase plan, stock option plan, vacation plan, leave of absence plan, employee assistance plan, automobile leasing/subsidy/allowance plan, meal allowance plan, redundancy or severance plan, relocation plan, family support plan, pension plan, supplemental pension plan, retirement plan, retirement savings plan, post-retirement plan, medical, health, hospitalization or life insurance plan, disability plan, sick leave plan, retention plan, education assistance plan, expatriate assistance plan, compensation arrangement, including any base salary arrangement, overtime, on-call or call-in policy, death benefit plan, or any other similar plan, program, arrangement or policy that is maintained or otherwise contributed to, or required to be maintained or contributed to, by or on behalf of the Purchaser or any of its Subsidiaries or Affiliates with respect to their employees employed in those countries where they will employ Transferred Employees pursuant to this Agreement.
Purchaser Employee Plan means any “employee benefit plan” within the meaning of Section 3(3) of ERISA and any other employee benefit plan or agreement, including any profit sharing plan, savings plan, bonus plan, performance awards plan, incentive compensation plan, deferred compensation plan, stock purchase plan, stock option plan, vacation plan, leave of absence plan, employee assistance plan, automobile leasing/subsidy/allowance plan, expense reimbursement plan, meal allowance plan, redundancy or severance plan or agreement, termination or retirement indemnity plan, relocation plan, family support plan, pension plan, supplemental pension plan, retirement plan, early or ill health retirement plan, retirement savings plan, post-retirement plan, medical, health, hospitalization or life insurance plan, disability plan, sick leave plan, retention plan, education assistance plan, expatriate assistance plan, compensation arrangement, including any base salary arrangement, overtime, on-call or call-in policy, death benefit plan, or any other similar plan, program, arrangement or policy that is maintained or otherwise contributed to, or required to be maintained or contributed to, by or on behalf of the Purchaser or any of its Subsidiaries or Affiliates with respect to their employees employed in those countries where they will employ Transferring Employees pursuant to this Agreement.
Purchaser Employee Plan means any “employee benefit plan” within the meaning of Section 3(3) of ERISA and any other employee benefit or compensation plan, program, policy or arrangement, including any employment contract, deferred compensation, severance, stock option, stock purchase, stock-based, incentive, bonus, pension, retiree medical, disability and life insurance, fringe benefit, sabbatical, supplemental retirement, profit sharing, termination indemnity, jubilee payment, seniority premium, or 13th or 14th month bonus plan, program, policy or arrangement that is maintained or otherwise contributed to, required to be maintained by or contributed to, or sponsored by or on behalf of, Purchaser or any of its Subsidiaries or Affiliates, or under which Purchaser or any of its Subsidiaries or Affiliates has any obligation, with respect to those countries where they will employ Transferred Employees pursuant to this Agreement.
Examples of Purchaser Employee Plan in a sentence
In the event that Transferred Assets that are assets provided for in Section 7.1(d)(ii) are prevented from transferring until any such Consent is obtained or Foreign Acquisition Entity is formed or established, as appropriate, or until a Purchaser Employee Plan is established and able to receive such assets, Seller and Purchaser agree that they will cooperate in good faith to put in place a commercially reasonable solution.
The Purchaser has made available to the Vendors the actuarial valuations, if any, prepared for each Purchaser Employee Plan during the past three years.
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Except as set forth in Section 5.19 of the Purchaser Disclosure Schedule, the assets of each Purchaser Employee Plan are at least equal to the liabilities, contingent or otherwise, of such Purchaser Employee Plan on a plan termination basis, and each Purchaser Pension Plan is fully funded on a going concern and solvency basis in accordance with its terms, applicable actuarial recommendations and applicable Law.
No Notice has been received by Purchaser or any of its Subsidiaries of any complaints or other proceedings of any kind involving any of the Purchaser Subsidiaries or any of the employees of any of the Purchaser Subsidiaries or other potential claimants before any Governmental Entity relating to any Purchaser Employee Plan or to any of the Purchaser Subsidiaries and to the knowledge of Purchaser, there is no basis for any such claims.
More Definitions of Purchaser Employee Plan
Purchaser Employee Plan means any plan, program, policy, practice, Contract or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, share or share-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written, unwritten or otherwise, that is or has been maintained, contributed to or required to be contributed to by any Purchaser Group Company for the benefit of any current or former employee, director or officer of such Purchaser Group Company, other than any employment Contract or compensatory agreement with a current or former employee, director or officer which is not maintained for the benefit of any group or class of employees.
Purchaser Employee Plan means each "employee benefit plan," ----------------------- as such term is defined in Section 3(3) of ERISA, established by the Purchaser, any of its Subsidiaries, or any ERISA Affiliate or under which the Purchaser, any of its Subsidiaries, or any ERISA affiliate contributes or under which any Employees of the Purchaser or any beneficiary thereof is covered, is eligible for coverage or has benefit rights with respect to service to the Purchaser, any of its Subsidiaries or any ERISA Affiliate or under which any obligation exists to issue capital stock of the Purchaser or any of its Subsidiaries.
Purchaser Employee Plan means any “employee pension benefit plan” (as defined in Section 3(2) of ERISA), any “employee welfare benefit plan” (as defined in Section 3(1) of ERISA), and any other similar written or oral plan, agreement or employee benefit arrangement maintained by the Purchaser under Purchaser’s human resources policies.
Purchaser Employee Plan means any “employee benefit plan” within the meaning of Section 3(3) of ERISA and any other employee benefit plan or agreement, including any profit sharing plan, savings plan, bonus plan, performance awards plan, incentive compensation plan, deferred compensation plan, stock purchase plan, stock option plan, vacation plan, leave of absence plan, employee assistance plan, automobile leasing/subsidy/allowance plan, severance plan or agreement, relocation plan, pension plan, supplemental pension plan, retirement plan, retirement savings plan, post-retirement plan, medical, health, hospitalization or life insurance plan, disability plan, sick leave plan, retention plan, education assistance plan, compensation arrangement, including any base salary arrangement, overtime, on-call or call-in policy, death benefit plan, or any other similar plan, program, arrangement or policy that is maintained or otherwise contributed to, or required to be maintained or contributed to, by or on behalf of the Purchaser, the Designated Purchaser or any of their Affiliates with respect to their employees employed in the United States.
Purchaser Employee Plan has the meaning set forth in Section 6.8(b).
Purchaser Employee Plan means any pension plan, supplemental pension plan, profit sharing plan, savings plan, retirement savings plan, bonus plan, commission plan, incentive compensation plan, deferred compensation plan, stock purchase plan, stock option plan, employee benefit plan, vacation plan, leave of absence plan, employee assistance plan, automobile leasing/subsidy/allowance plan, redundancy or severance plan, relocation plan, family support plan, retirement plan, medical, health, hospitalization or life insurance plan, disability plan, sick leave plan, retention plan, compensation arrangement, including any base salary arrangement, overtime, on-call or call-in policy, death benefit plan, or any other similar plan, program, arrangement or policy that is maintained or otherwise contributed to, or required to be contributed to, by or on behalf of the Purchaser or any of the Purchasing Subsidiaries with respect to the Purchaser Employees as in effect at the applicable Effective Time.
Purchaser Employee Plan means any “employee pension benefit plan” (as defined in Section 3(2) of ERISA), any “employee welfare benefit plan” (as defined in Section 3(1) of ERISA), and any other written plan, agreement or arrangement, including insurance coverage, severance benefits, disability benefits, deferred compensation, bonuses, stock options, stock purchase, phantom stock, stock appreciation or other forms of incentive compensation or post-retirement compensation and all unexpired severance agreements, for the benefit of, or relating to, any current or former employee of the Purchaser or any of its Subsidiaries or any entity which is a member of (A) a controlled group of corporations (as defined in Section 414(b) of the Code), (B) a group of trades or businesses under common control (as defined in Section 414(c) of the Code) or (C) an affiliated service group (as defined in Section 414(m) of the Code or the regulations under Section 414(o) of the Code), in each case for which the Continuing Employee is otherwise eligible in accordance with the terms of such Purchaser Employee Plan. Except for Xxxxxx X. Xxxxx XX, for a period of at least one year following the Closing Date, Purchaser shall (i) provide the Continuing Employees whom the Purchaser employs during such period with no less than the same base salary or base wages as in effect immediately prior to the Closing and (ii) continue to provide the Company Employee Plans to the Continuing Employees whom the Purchaser employs during such period (other than awards under equity incentive plans) at no greater cost to such Continuing Employees than their current employee benefits; provided, however, that nothing in this Section 7.7 shall prevent Purchaser from terminating any employee at any time; provided further, however, that Purchaser shall be permitted to terminate or amend any Company Employee Plans to the extent required by, or reasonably necessary to avoid or reduce material penalties resulting from, a change in Law made after the date hereof. Attached hereto as Schedule 7.7 is a list of the Continuing Employees which includes their current position and base salary or base wages for Company fiscal year 2012. Not later than January 31, 2013, the Purchaser shall cause the Company to pay all amounts due under the Company’s 2012 MBO Plan for 2012 in an amount not to exceed $1,700,000, if and to the extent earned under such plan as in effect on the date hereof, pursuant to an allocation to be determined by the Seller. The C...