RemainCo Participant definition

RemainCo Participant means a RemainCo Employee, any former RemainCo Employee, and any eligible dependent or beneficiary thereof who participates or is eligible to participate in a RemainCo Plan.
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RemainCo Participant means any individual who, immediately following the Spinco Distribution Date, is a Remainco Employee, a Former Remainco Employee or a beneficiary, dependent or alternate payee of any of the foregoing.
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RemainCo Participant means any individual who, (i) prior to the Distribution Date, is eligible to participate in one or more RemainCo Benefit Plans, and (ii) following the Distribution Date, is (A) a RemainCo Employee who is eligible to participate in one or more RemainCo Benefit Plans, (B) a Former RemainCo Employee or Former Shared Employee, in either case, who remains entitled to payments, benefits and/or participation under any RemainCo Benefit Plan, (C) a Former SpinCo Employee who terminated employment or other service on or prior to the Distribution Date, to the extent such individual remains entitled to payments, benefits and/or participation under any RemainCo Benefit Plan, or (D) a beneficiary, dependent or alternate payee of any of the foregoing.
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Examples of RemainCo Participant in a sentence

  • RemainCo shall credit each Transferred RemainCo Participant with the amount of accrued but unused vacation time, sick time and other time-off benefits as such Transferred RemainCo Participant had with the SpinCo Group as of the date of such Transferred RemainCo Participant’s transfer to the RemainCo Group.

  • Likewise, RemainCo shall assume or retain, as applicable, responsibility for all liabilities and fully perform, pay and discharge all obligations, when such obligations become due, relating to any severance benefit to which a RemainCo Participant is entitled under a RemainCo Severance Plan as of the Distribution Date.

  • Effective as of the Distribution Date, RemainCo shall assume or retain, as applicable, responsibility for all liabilities and fully perform, pay and discharge all obligations, when such obligations become due, relating to any annual incentive awards that any RemainCo Participant is eligible to receive with respect to fiscal year 2008 and, effective as of the Distribution Date, SpinCo shall have no obligation with respect to any such annual incentive award.

  • RemainCo acknowledges and agrees that, except as otherwise provided herein, it shall have full responsibility with respect to any liabilities and the payment or performance of any obligations arising out of or relating to any employment, consulting, non-competition, retention or other compensatory arrangement previously provided by any member of the RemainCo Group or SpinCo Group to any RemainCo Participant, including life insurance policies not held in any trust and covering any RemainCo Participant.

  • Notwithstanding the above, RemainCo shall not be required to credit any Transferred RemainCo Participant with any accrual to the extent that a benefit attributable to such accrual is provided by the SpinCo Group.

  • Without limiting the generality of the foregoing, in no event shall any RemainCo Employee, Former RemainCo Employee, RemainCo Participant, Former Shared Employee, SpinCo Employee, Former SpinCo Employee or SpinCo Participant (or any dependent, beneficiary or alternate payee of any of the foregoing) have any third-party rights under this Agreement.

  • Neither the consummation of the Distribution, any transfer of employment contemplated hereby, or any related transactions or events contemplated by the Separation Agreement, this Agreement or any Ancillary Agreement shall constitute a COBRA qualifying event for purposes of COBRA with respect to any SpinCo Participant or any RemainCo Participant (or any dependent or beneficiary thereof).

  • No distribution of account balances shall be made to any RemainCo Participant solely on account of the transfers from the SpinCo 401(k) Plan described in Section 5.2 above.

  • For the avoidance of doubt, except as otherwise expressly set forth in this Article VII, neither SpinCo Health and Welfare Plans nor RemainCo Health and Welfare Plans shall be responsible for any claims that arise following a RemainCo Participant’s termination of participation in a SpinCo Health and Welfare Plan if the RemainCo Participant does not validly enroll in an applicable RemainCo Health and Welfare Plan.

  • The RemainCo Cafeteria Plan shall reimburse SpinCo or the SpinCo Cafeteria Plan to the extent amounts were paid by the SpinCo Cafeteria Plan and not collected from the RemainCo Participant and such amounts are subsequently collected by the RemainCo Cafeteria Plan with respect to such RemainCo Participant.


More Definitions of RemainCo Participant

RemainCo Participant shall have the meaning set forth in Section 1.1 of the Employee Matters Agreement.
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Related to RemainCo Participant

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • L/C Participant shall have the meaning provided in Section 3.3(a).

  • Program participant means an individual certified by the secretary as a program participant under Iowa Code section 9E.3.

  • CDS Participant means a participant in CDS that holds security entitlements in Units on behalf of beneficial owners of those Units;

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Participating Employer means any trade or business (whether or not incorporated) which adopts this Plan with the consent of the Company identified in the Adoption Agreement.

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • Participant has the meaning specified in Section 10.06(d).

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

  • SpinCo Employee means any individual who, as of the Effective Time, is employed by or will be employed by Spinco or any member of the Spinco Group, including active employees and employees on vacation and approved leave of absence (including maternity, paternity, family, sick leave, qualified military service under the Uniformed Services Employment and Reemployment Rights Act of 1994, short- or long-term disability leave, leave under the Family Medical Leave Act and other approved leave).

  • Current Participant means a person who participated in the Plan during the Class Period and had an Active Account on May 11, 2018.

  • Non-U.S. Participant means any Participant that if it were a Lender would qualify as a Non-U.S. Lender.

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

  • Disabled Participant with respect to a loan if it has no right to exercise any voting or other control rights with respect to such loan (other than the right to approve amendments to the material economic terms of such loan).

  • U.S. Participant means a Participant who is a citizen of the United States or a resident of the United States, as defined in section 7701(a)(30)(A) and section 7701(b)(1) of the Code and any other Participant who is subject to tax under the Code with respect to compensatory awards granted pursuant to the Plan;

  • Designated Participant means a key Employee of the Company or any other Participating Company who is designated by the Committee in writing to participate in the Program.

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

  • Other Participant means a cooperative project participant other than the United States.

  • Administrative employee means an employee who normally supervises persons engaged in office administration, construction, security or maintenance work who are represented by another trade union. This definition includes employees who share a community of interest with “supervisors”.

  • Eligible employer means any municipality with a municipal

  • Exchange Participant means (a) the Bank which is a person registered as a China Connect Exchange Participant (as defined in the SEHK China Connect Rules) by SEHK; or (b) where the context requires, any China Connect Exchange Participant (as defined in the SEHK China Connect Rules).

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • First Tier Participant refers to the participant who has entered into a covered transaction with a grantee or subgrantee of Federal funds (such as the prime or general contractor). “Lower Tier Participant” refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).