(b) Administrator means the person(s) or entity appointed by the Company to administer the Plan.
(c) Affiliate means each entity that is required to be included in the Companys controlled group of corporations within the meaning of Code Section 414(b), or that is under common control with the Company within the meaning of Code Section 414(c); provided that for purposes of determining when a Participant has incurred a Separation from Service, the phrase at least 50 percent shall be used in place of at least 80 percent each place it appears in the regulations thereunder.
(d) Beneficiary means the person or persons designated by the Participant to receive payments under the Plan in the event of the Participants death as provided in Section 4.3.
(e) Board means the Board of Directors of the Company.
(f) Cause means a Participants (1) substantial failure or refusal to perform duties and responsibilities of his or her job as required by the Employer, (2) violation of any fiduciary duty owed to the Company or any Affiliate, (3) conviction of or plea of no contest to a felony or misdemeanor, (4) dishonesty, (5) theft, (6) violation of Company or Employer rules or policy, or (7) other egregious conduct, that has or could have a serious and detrimental impact on the Company, any of its Affiliates or any of their employees. The Administrator, in its sole and absolute discretion, shall determine whether Cause exists. Examples of Cause may include, but are not limited to, excessive absenteeism, misconduct, insubordination, violation of Company policy, dishonesty, and deliberate unsatisfactory performance (e.g., Employee refuses to improve deficient performance).
(g) Code means the Internal Revenue Code of 1986, as interpreted by regulations and rulings issued pursuant thereto, all as amended and in effect from time to time. Any reference to a specific provision of the Code shall be deemed to include any rulings and regulations promulgated thereunder and reference to any successor provision thereto.
(h) Company means Clarios, LLC, and its successors as provided in Section 9.11.
(i) Distribution Date means each January 15 or July 15, or the first business day prior to such date if such date falls on a holiday or weekend.
(j) Effective Date means May 1, 2019.
(k) Employer means the Company or the Affiliate that employs a Participant.
(l) ERISA means the Employee Retirement Income Security Act of 1974, as interpreted by regulations and rulings issued pursuant thereto, all as amended and in effect from time to time. Any reference to a specific provision of ERISA shall be deemed to include any rulings and regulations promulgated thereunder and reference to any successor provision thereto.