Qualified Defined Contribution Plan. Section 3.1 MPI 401(k) Plan. (a) Establishment of the MPI 401(k) Plan. Effective as of the Distribution Date, MPI shall, or shall have caused one of its Affiliates to, establish a defined contribution plan and trust for the benefit of MPI Participants (the “MPI 401(k) Plan”). MPI shall be responsible for taking all necessary, reasonable and appropriate action to establish, maintain and administer the MPI 401(k) Plan so that it is qualified under Section 401(a) of the Code and that the related trust thereunder is exempt from Federal income tax under Section 501(a) of the Code. MPI (acting directly or through its Affiliates) shall be responsible for any and all Liabilities and other obligations with respect to the MPI 401(k) Plan.
Appears in 3 contracts
Sources: Employee Matters Agreement (Myriad Pharmaceuticals, Inc.), Employee Matters Agreement (Myriad Genetics Inc), Employee Matters Agreement (Myriad Pharmaceuticals, Inc.)