STAR Plan definition
Examples of STAR Plan in a sentence
Company Closing Date Employees and Delayed Hire Employees shall not make or receive additional contributions under the STAR Plan after the Closing Date or the applicable Delayed Hire Date, respectively, unless any such person shall once again become employed by Seller or any of its Subsidiaries following the Closing Date or the Delayed Hire Date, respectively, and on or after such date such person otherwise becomes eligible to participate in the STAR Plan.
The transfer shall be in cash (except with respect to any participants’ loan notes or except as agreed between the trustees for the STAR Plan and the Buyer 401(k) Plan) and shall include the transfer of the aggregate assets held in the accounts relating to each applicable person under the STAR Plan, including without limitation any participant loan notes held under the STAR Plan.
The interest of each Company Closing Date Employee and Delayed Hire Employee in the STAR Plan attributable to employer matching contributions as of the Closing Date or the applicable Delayed Hire Date, as applicable, shall be 100% vested on such date.