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1999-215
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1999-215
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Last modified
10/31/2023 2:51:18 PM
Creation date
10/31/2023 2:45:58 PM
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
08/24/1999
Control Number
1999-215
Entity Name
Falcon Cable Media
Subject
Purchase and Contribution Agreement, Transfer of Control of Ultimate Parent
Company of Falcon Cable Media
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(e) Buyer shall offer group health plan coverage to all of the employees of the <br />Falcon Companies and to the spouse and dependents of such employees who become employed by <br />the Buyer or any ERISA Affiliate of the Buyer as of the Closing on terms and conditions generally <br />applicable to all of Buyers similarly situated employees. For purposes of providing such coverage, <br />Buyer shall waive all preexisting condition limitations for all such employees covered by the health <br />care plan of any Falcon Company as of the Closing and shall provide such health care coverage <br />effective as of the Closing without the application of any eligibility period for coverage. In <br />addition, Buyer shall credit all employee payments toward deductible, out-of-pocket and copayment <br />obligation limits under the Falcon Companies' health care plans for the plan you which includes the <br />Closing Date as if such payments had been made for similar purposes under Buyers health care <br />plans during the plan year which includes the Closing Date, with respect to employees of the Falcon <br />Companies and the spouse and any dependents of such employees who become employed by Buyer <br />as of the Closing Date. <br />(f) Buyer shall assume full responsibility and liability for offering and providine <br />"continuation coverage" to any "covered employee" and any "qualified beneficiary" who is covered <br />by a "group health plan" sponsored or contributed to by any of the Falcon Companies who has <br />experienced a "qualifying event" or is receiving "continuation coverage" on or prior in the Closing. <br />"Continuation coverage," "covered employee," "qualified beneficiary," "qualifying event" and <br />"group health plan" all shall have the meanings given such terms under Section 4980B ofthe Code <br />and Section 601 et mq. of ERISA. <br />(g) Notwithstanding anything in this Agreement to the contrary, on or prior to <br />the Closing Date, Falcon shall take such action as may be necessary or appropriate to cause each <br />participant in the Falcon Communications, L.P. "Smart" 401(k) Plan and each participant in the <br />Enttar Cable Corporation "Smart" 401(k) Plan (the "Falcon 401(k) Plans") to become fully vested <br />in his or her benefit under such plans. Notwithstanding the foregoing oranything in this Agreement <br />to the contrary, Sellers will take such actions as may be necessary to adopt resolutions to terminate <br />the Falcon 401(k) Plans effective on or prior to the Closing Date; provided after the Closing Buyer <br />shall take such actions as may be necessary or appropriate to complete the termination of the Falcon <br />401(k) Plans and provide for the distribution of benefits thereunder. Upon distributional! benefits <br />following the termination of the Falcon 401(k) plans, a tax -qualified retirement plan sponsored by <br />Buyer or an entity required to be combined with Buyer under Code Sections 414(b) or (c) shall <br />accept rollover contributions with respect many person who remains an employee of any Falcon <br />Company following the Closing and as of the date of distribution of cash and promissory notes that <br />relate to loans made to participants from the Falcon 401(k) plans. <br />6.10 Tax Matters, <br />(a) Tm Wgda Ending Before Illee QIgsinems. FHGLP shall prepare or <br />cause to be prepared and file or cause to be filed all Tax Returns for the Falcon Companies (i) that <br />are due on or before the Closing Date, or (ii) that relate to taxable periods ending on or prior to the <br />Closing Date but are required to be filed after the Closing Date. Such Tax Returns shall be prepared <br />in accordance with each Falcon Companys past custom and practice, and allocations of items of <br />Mnxo..� 52 <br />
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