Sellers Benefit Plan definition

Sellers Benefit Plan means any Benefit Plan that is sponsored or maintained by any Sold Company or Sold Subsidiary, or with respect to which any Sold Company or Sold Subsidiary has any direct or indirect Liability, contingent or otherwise, or that is sponsored or maintained by the Company or any Subsidiary on behalf of, or for the benefit of, one or more Employees.
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Sellers Benefit Plan means each Benefit Plan entered into, maintained, sponsored or contributed to by Sellers or any of their respective ERISA Affiliates, or to which Sellers or any of their respective ERISA Affiliates has any obligation to contribute, or in respect of which Sellers or any of their respective ERISA Affiliates has any other potential liability relating to any Employee.
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Sellers Benefit Plan means each deferred compensation, fringe benefit, severance, termination and bonus or other incentive compensation (including any equity or equity-based compensation) plan, program, agreement, award or arrangement; each "welfare" plan, fund or program (within the meaning of section 3(1) of ERISA); each "pension" plan, fund or program (within the meaning of section 3(2) of ERISA); each employment agreement or arrangement; and each other employee benefit plan, fund, program, agreement, award or arrangement, for the benefit of any current or former service provider to the Sellers or any of its Affiliates (other than in the capacity as a customer), in each case, (i) that is sponsored, maintained or contributed to or required to be contributed to by any of the Acquired Subsidiaries, (ii) to which any of the Acquired Subsidiaries is a party or (iii) with respect to which any of the Acquired Subsidiaries has or could have any liability, directly or indirectly, in each case, whether written or oral.
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Examples of Sellers Benefit Plan in a sentence

  • Except to the extent not material, other than as a result of the process set forth in Section 7.04(e), no Seller's Benefit Plan exists that could: (i) result in the payment to any Employee or consultant of the System of any money or other property; or (ii) accelerate the vesting of or provide any additional rights or benefits (including funding of compensation or benefits through a trust or otherwise) to any Employee or consultant of the System, in each case, as a result of the execution of this Agreement.

  • Other than as required under Section 4980B of the Code or other applicable Law, no Seller's Benefit Plan provides benefits or coverage in the nature of health, life or disability insurance following retirement or other termination of employment (other than death benefits when termination occurs upon death).

  • Focus will be provided on round 3, which allows for applications to fund improvements in training environments.

  • Sellers have heretofore made available to Buyer a copy of each written Sellers Benefit Plan and any amendments thereto.

  • To the extent that a Business Employee was a participant in a Sellers Benefit Plan, the Sellers Benefit Plans shall be responsible for providing welfare benefits (including medical, hospital, dental, accidental death and dismemberment, life, disability and other similar benefits) to any participating Business Employees for all Claims incurred prior to the Closing Date under and subject to the generally applicable terms and conditions of such plans.

  • Nothing contained in this Article VIII will be construed to create any third-party beneficiary rights in any Person, including any Business Employee or Transferred Employee (including any dependent or beneficiary thereof) nor will this Article VIII be deemed to amend any Sellers Benefit Plan or Purchaser Plan or prohibit Sellers or Purchaser or their respective Affiliates from amending or terminating any benefit plan as Sellers or Purchaser respectively determine in their discretion.

  • No Sellers Benefit Plan is sponsored or maintained by any one of the Acquired Companies.

  • Neither any Seller nor any ERISA Affiliate of any Seller has incurred, or reasonably expect to incur, any material liability under Title IV of ERISA arising in connection with the termination of, or complete or partial withdrawal from, any Sellers Benefit Plan.

  • Each Sellers Benefit Plan which is intended to be qualified under Section 401(a) of the Code is currently so qualified and has received a favorable determination letter from the Internal Revenue Service with respect to the qualification and tax-exempt status of such plan.

  • The extent to which any Hired Employee (and his dependents and/or other beneficiaries) has satisfied in whole or in part any Seller's Benefit Plan annual deductible, or has paid any out-of-pocket expenses pursuant to any Seller's Benefit Plan co-insurance provision, shall be counted toward the satisfaction of any applicable deductible or out-of-pocket expense maximum respectively under the comparable Oxford's Benefit Plans.


More Definitions of Sellers Benefit Plan

Sellers Benefit Plan shall refer to all Employee Benefit Plans and all other employee benefit arrangements or payroll practices, including, but not limited to, severance pay, sick leave, vacation pay, salary continuation for disability, scholarship programs, stock option or restricted stock plans maintained by Shareholder, Sellers or any Subsidiary or ERISA Affiliate of either (whether formal or informal, whether for the benefit of a single individual or for more than one individual and whether for the benefit of current or former employees or their beneficiaries) on behalf of Sellers, its Subsidiaries or any Company Personnel to which or under which or pursuant to which Shareholder, Sellers or any Subsidiaries or any ERISA Affiliate of either has contributed or is obligated to make contributions on behalf of Seller, any of its Subsidiaries or any Company Personnel.
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Sellers Benefit Plan is defined in Section 5.19(a).
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Sellers Benefit Plan means each Benefit Plan provided to Employees by the Seller on the day immediately preceding the Closing Date.
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Sellers Benefit Plan has the meaning set forth in clause 6.4.1 of Schedule 14.
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Sellers Benefit Plan means each Benefit Plan sponsored or maintained by the Seller, or to which the Seller has at any time contributed or been required to contribute.
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Sellers Benefit Plan or “Sellers’ Benefit Plans” means any plan, program, arrangement, agreement or commitment which is an employment, consulting or deferred compensation agreement, or an executive compensation, incentive bonus or other bonus, employee pension, profit-sharing, savings, retirement, stock option or other equity-based compensation, severance pay, life, medical, dental, death benefit, disability or accident insurance plan, vacation, Code Section 125 “cafeteria” or “flexible benefit” plan or other employee benefit plan, program, arrangement, agreement or commitment, including, without limitation, any “employee benefit plan” as defined in Section 3(3) of ERISA or any “employee welfare benefit plan” as defined in Section 3(1) of ERISA.
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Related to Sellers Benefit Plan

  • Parent Benefit Plans has the meaning set forth in Section 5.07(b).

  • Parent Benefit Plan means any Employee Benefit Plan maintained by, sponsored by or contributed to by, or obligated to be contributed to by any Parent Group Entity.

  • Seller Benefit Plan means each Benefit Plan sponsored, maintained or contributed to by Seller or any of its Subsidiaries or with respect to which Seller or any of its Subsidiaries is a party and in which any Employee is or becomes eligible to participate or derive a benefit.

  • Buyer Benefit Plans has the meaning set forth in Section 6.10(f).

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

  • Seller Benefit Plans has the meaning set forth in Section 4.10(a).

  • Company Benefit Plan has the meaning specified in Section 4.13(a).

  • Company Benefit Plans has the meaning set forth in Section 3.16(a).

  • Company Employee Plan means any plan, program, policy, practice, contract, agreement or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written or unwritten or otherwise, funded or unfunded, including without limitation, each "employee benefit plan," within the meaning of Section 3(3) of ERISA which is or has been maintained, contributed to, or required to be contributed to, by the Company or any Affiliate for the benefit of any Employee, or with respect to which the Company or any Affiliate has or may have any liability or obligation;

  • Company Employee Plans has the meaning set forth in Section 3.12(a).

  • Medical benefit plan means a plan established and maintained by a carrier, a voluntary employees' beneficiary association described in section 501(c)(9) of the internal revenue code of 1986, 26 USC 501, or by 1 or more public employers, that provides for the payment of medical benefits, including, but not limited to, hospital and physician services, prescription drugs, and related benefits, for public employees or elected public officials. Medical benefit plan does not include benefits provided to individuals retired from a public employer or a public employer's contributions to a fund used for the sole purpose of funding health care benefits that are available to a public employee or an elected public official only upon retirement or separation from service.

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Welfare Benefit Plan means each welfare benefit plan maintained or contributed to by the Company, including, but not limited to a plan that provides health (including medical and dental), life, accident or disability benefits or insurance, or similar coverage, in which Executive was participating at the time of the Change in Control.

  • Purchaser Benefit Plans has the meaning set forth in Section 8.7(d).

  • Benefit Plan means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.

  • Company Employee Benefit Plan means each Employee Benefit Plan that is maintained, sponsored or contributed to (or required to be contributed to) by any of the Group Companies or under or with respect to which any of the Group Companies has any Liability.

  • Benefit Plans shall have the meaning set forth in Section 3.13(a).

  • Pension Benefit Plan means at any time any employee pension benefit plan (including a Multiple Employer Plan, but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained by any member of the Controlled Group for employees of any member of the Controlled Group; or (ii) has at any time within the preceding five years been maintained by any entity which was at such time a member of the Controlled Group for employees of any entity which was at such time a member of the Controlled Group.

  • Foreign Benefit Plan means any Employee Benefit Plan established, maintained or contributed to outside of the United States of America or which covers any employee working or residing outside of the United States.

  • Employee Welfare Benefit Plan has the meaning set forth in ERISA Section 3(1).

  • Company Plans has the meaning set forth in Section 3.13(a).

  • Company Plan means all Plans of which the Company or an ERISA Affiliate of the Company is or was a Plan Sponsor, or to which the Company or an ERISA Affiliate of the Company otherwise contributes or has contributed, or in which the Company or an ERISA Affiliate of the Company otherwise participates or has participated. All references to Plans are to Company Plans unless the context requires otherwise.

  • Qualified Benefit Plan has the meaning set forth in Section 3.20(c).

  • Parent Employee Plan means any plan, program, policy, practice, contract, agreement or other arrangement providing for compensation, severance, termination pay, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written or unwritten or otherwise, funded or unfunded, including without limitation, each "EMPLOYEE BENEFIT PLAN," within the meaning of Section 3(3) of ERISA which is maintained, contributed to, or required to be contributed to, by Parent or any Affiliate for the benefit of any Parent Employee;

  • Canadian Benefit Plans means all material employee benefit plans of any nature or kind whatsoever that are not Canadian Pension Plans and are maintained or contributed to by any Credit Party having employees in Canada.

  • Canadian Benefit Plan means any plan, fund, program or policy, whether oral or written, formal or informal, funded or unfunded, insured or uninsured, providing employee benefits, including medical, hospital care, dental, sickness, accident, disability, life insurance, pension, retirement or savings benefits, under which any Loan Party has any liability with respect to any of its employees or former employees employed in Canada, and includes any Canadian Pension Plan.