SSE Employee definition
Examples of SSE Employee in a sentence
SSE shall recognize and assume all liability for all vacation, holiday, sick leave, flex days, personal days and paid-time off with respect to SSE Employees, and SSE shall credit each SSE Employee with such accrual.
There has occurred no “prohibited transaction” (as defined in Section 406 of ERISA or Section 4975 of the IRC) with respect to the SSE Employee Plans that is likely to result in the imposition of any penalties or Taxes upon SSE or any of its Subsidiaries under Section 502(i) of ERISA or Section 4975 of the IRC.
For purposes of this Agreement, former employees of the CHK Group shall be deemed to include all employees who, as of their last day of employment, were employed by a CHK Entity and will not be either a SSE Employee or a CHK Employee (collectively, the “Former CHK Employees”).
All of the SSE Employee Plans comply in all material respects with all applicable requirements of ERISA, the IRC and other applicable laws.
Except as otherwise provided in any other provision of this Agreement, for purposes of eligibility and vesting under the SSE 401(k) Plan and SSE Welfare Plans, SSE shall, and shall cause each member of the SSE Group to, credit each SSE Employee and Former SSE Employee with service for any period of employment with any member of the CHK Group on or prior to the Distribution Date to the same extent such service would be credited for the same purpose if it had been performed for a member of the SSE Group.
There has been no announcement or commitment by SSE or any of its Subsidiaries to create an additional SSE Employee Plan, or to amend any SSE Employee Plan, except for amendments required by applicable law which do not materially increase the cost of such SSE Employee Plan.
Each SSE Employee who was an active participant in the CHK 401(k) Plan on the Distribution Date shall participate in the SSE 401(k) Plan effective from and after the Distribution Date.
CHK shall also be permitted to retain copies of all restrictive covenant agreements with any SSE Employee or Former SSE Employee in which any member of the CHK Group has a valid business interest.
After the Distribution Date, (i) CHK shall be responsible for providing any necessary WARN notice (and meeting any similar state law notice requirements) with respect to any termination of any CHK Employee and (ii) SSE shall be responsible for providing any necessary WARN notice (and meeting any similar state law notice requirements) with respect to any termination of any SSE Employee.
For purposes of this Agreement, former employees of the SSE Group shall be deemed to include all employees who, as of their last day of employment, were employed by a SSE Entity and will not be either a SSE Employee or a CHK Employee (collectively, the “Former SSE Employees”).