(3) Agreement shall have the meaning set forth in the Preamble.
(4) Assets shall have the meaning ascribed to it in the Separation Agreement.
(5) Benefit Arrangement shall mean, with respect to an entity, each compensation or employee benefit plan, program, policy, agreement or other arrangement, whether or not employee benefit plans (within the meaning of Section 3(3) of ERISA, whether or not subject to ERISA), including any Welfare Plan and any other benefit plan, program, policy, agreement or arrangement providing cash- or equity-based compensation or incentives, vacation, paid or unpaid leave, severance, retention, change in control, termination, deferred compensation, individual employment or consulting, , supplemental income, retiree benefit or other fringe benefit (whether or not taxable), or employee loans, that are sponsored or maintained by such entity (or to which such entity contributes or is required to contribute or in which it participates), and excluding workers compensation plans, policies, programs and arrangements.
(6) Board shall mean the Board of Directors of Enovis as set forth in the Recitals.
(7) Business Day shall have the meaning ascribed to it in the Separation Agreement.
(8) CARES Act shall have the meaning set forth in Section 5.7(b).
(9) COBRA shall mean Section 4980B of the Code, Part 6 of Subtitle B of Title I of ERISA, or similar state Law.
(10) Code means the Internal Revenue Code of 1986, as amended.
(11) Collective Bargaining Agreement shall mean all agreements with the collective bargaining representatives, employee representatives, trade unions, labor or management organizations, groups of employees, or works councils or similar representative bodies of ESAB Employees, including all national or sector specific collective agreements which are applicable to ESAB Employees, in each case in effect immediately prior to the date on which the applicable ESAB Employees become employed by a member of the ESAB Group, that set forth terms and conditions of employment of ESAB Employees, and all modifications of, or amendments to, such agreements and any rules, procedures, awards or decisions of competent jurisdiction interpreting or applying such agreements.
(12) Compensation Committee shall mean the Compensation Committee of the Board.
(13) Delayed Transfer Enovis Employee shall mean any Enovis Employee whose employment is determined by Enovis to not be eligible to be transferred from a member of the ESAB Group to a member of the Enovis Group at or prior to the Effective Time as a result of (i) requirements under applicable Law, (ii) participation in a long-term disability plan or similar arrangement or (iii) a delay in setting up Enovis Retained Business operations in a particular jurisdiction sufficient to employ such Enovis Employee.