Covered Participants

Covered Participants. Means (1) individuals who were employed by Company or its Subsidiaries set forth on Schedule 4(f) prior to the Closing Date and who either (A) are actively employed by Company or its Subsidiaries set forth on Schedule 4(f) on or after the Closing Date or (B) become entitled to COBRA Coverage during the Transition Period and (2) covered eligible dependents of the individuals identified in clause (1).

Covered Participants. Means a Participant who is a "covered employee" as defined in Section 162(m)(3) of the Code, and the regulations promulgated thereunder, and any individual the Committee determines should be treated like such a covered employee