Qualified Defined Contribution Plan. Section 3.1 CPEX 401(k) Plan. (a) Establishment of the CPEX 401(k) Plan. Effective as of the Distribution Date, CPEX shall, or shall have caused one of its Affiliates to, establish a defined contribution plan and trust for the benefit of CPEX Participants (the “CPEX 401(k) Plan”). CPEX shall be responsible for taking all necessary, reasonable and appropriate action to establish, maintain and administer the CPEX 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. CPEX (acting directly or through its Affiliates) shall be responsible for any and all Liabilities and other obligations with respect to the CPEX 401(k) Plan.
Appears in 2 contracts
Sources: Employee Matters Agreement (CPEX Pharmaceuticals, Inc.), Employee Matters Agreement (CPEX Pharmaceuticals, Inc.)