Examples of Transferred Employees in a sentence
Seller and Buyer shall cooperate with each other during the period beginning on the date hereof and ending on the date the assets are transferred to the trust maintained under the Buyer 401(k) Plan to ensure the ongoing operation and administration of the Seller 401(k) Plan and the Buyer 401(k) Plan with respect to such Transferred Employees.
Effective on the Closing Date, Buyer shall adopt or designate a defined contribution plan qualified under Section 401(a) and Section 401(k) of the Code (the "Buyer 401(k) Plan") in which Transferred Employees shall be eligible to participate on and after the Closing Date to the same extent such Transferred Employees were eligible to participate in the MagneTek Flexcare Plus Retirement Savings Plan ("Seller 401(k) Plan") immediately prior to the Closing Date.
Cafeteria Plan that is applicable to Transferred Employees, as provided in the spinoff/transfer of sponsorship agreement attached as Schedule 9.2(c) hereof.
The Transferred Employees participate in a qualified defined benefit plan maintained by MagneTek ("Seller's Pension Plan").
Buyer shall establish or designate a qualified defined benefit plan ("Buyer's Retirement Plan") for the benefit of the Transferred Employees.