Adopting Employers Sample Clauses

Adopting Employers. Check here x if there are additional adopting employers and complete the “Adopting Employer Addendum.”
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Adopting Employers. Each of the employers controlled by or affiliated with the Plan Sponsor and listed below is an Adopting Employer. Each Adopting Employer participates in this Plan. Any additional Adopting Employer’s agreement to participate in this Plan shall be in writing. An Adopting Employer has no rights or privileges under this Plan. If the Adopting Employer did not maintain its plan before its date of adoption specified below, its date of adoption shall be the Entry Date for any of its employees who have met the requirements in the Active Participant Section of Article II as of that date. Transfer of employment, without interruption, between an Adopting Employer and another Adopting Employer or the Employer shall not be considered an interruption of service. However, for the purposes of the Temporary Limitation Of Benefits Section of Article IV, the employees of each Adopting Employer are considered separately in determining the highly paid employees under the Plan. The date the Adopting Employer’s plan was originally effective shall be substituted for the date the Plan was originally effective. If the Adopting Employer did not maintain its plan before its date of adoption specified below, its date of adoption shall be the date its plan was originally effective. Forfeitures arising from an Adopting Employer’s Contributions shall be used for the benefit of all Participants. An employer shall not be an Adopting Employer if it ceases to be controlled by or affiliated with the Plan Sponsor or if such an employer establishes a separate retirement plan for its employees and receives a transfer of assets and liabilities from this Plan with respect to such separate retirement plan. If an employer ceases to be an Adopting Employer and does not continue a retirement plan for the benefit of its employees, partial termination may result and the provisions of Article VII apply. Nazarene Theological Seminary August 1, 1979 Nazarene Compassionate Ministries, Inc. October 6, 1990 Church of the Nazarene Foundation February 20, 2003
Sample 1Sample 2
Adopting Employers. An affiliated corporation of the Company or other entity which has adopted the Plan in accordance with its terms shall become a party to this agreement by delivering to the Company and the Trustee a certified copy of a resolution of its board of directors to the effect that it agrees to adopt the Plan, to become a party to this agreement, and to be bound by all the terms and conditions of the Plan and this agreement. The Company shall have the sole authority to enforce this agreement on behalf of any such affiliated corporation or other entity and the Trustee shall in no event be required to deal with any such affiliated corporation or other entity except by dealing with the Company as its agent. Irrespective of the number of affiliated corporations or other entities which may become parties to this agreement, the Trustee shall in all respects invest and administer the Trust Fund as a single fund for investment and accounting purposes without allocation of any part of the Trust Fund as between the Company and any such affiliated corporation or other entity. An affiliated corporation or other entity which has adopted the Plan shall cease to be a party to this agreement upon the Company delivering to the Trustee a certified copy of a resolution of such affiliated corporation’s or other entity’s board of directors terminating its participation in the Plan. In such event, or in the event of the merger, consolidation, sale of property or stock, separation, reorganization or liquidation of the Company or of any such affiliated corporation or other entity, or in the event of the establishment, modification or continuance of any other retirement plan which separately or in conjunction with this Plan qualifies under Section 401(a) of the Code, the Trustee shall continue to hold the portion of the Trust Fund which is attributable to the participation in the Plan of the employees and their beneficiaries affected by such termination or by such transaction, and this agreement shall continue in force with respect to such portion, until otherwise directed by the Administrator, in accordance with the provisions of the Plan and ERISA.
Sample 1
Adopting Employers. (Identify Adopting Employers below.)
Sample 1
Adopting Employers. Note: The Code requires minimum coverage requirements for retirement plans of Controlled Groups and Affiliated Service Groups. If you are a member of such a group, you may use this item to identify the other employers in the group whose Employees may become Members. If an employer listed below does not evidence the establishment of the separate plan or the agreement to participate in writing, you and the other Adopting Employers must contribute on behalf of its Employees who are Active Members. Affiliated firms which are not a part of a Controlled Group or Affiliated Service Group may also become Adopting Employers.
Sample 1

Related to Adopting Employers

  • Participating Employers As of the Effective Date, the following Participating Employer(s) are parties to the Plan:

  • Related Employers If any member of the Employer's related group (as defined in Section 1.30 of the Plan) executes a Participation Agreement to this Adoption Agreement, such member's Employees are eligible to participate in this Plan, unless excluded by reason of an exclusion classification elected under this Adoption Agreement Section

  • The Employer This Agreement shall inure to the benefit of and be binding upon the Employer and its successors and assigns. The Bancorp and the Bank will each require any successor to it (whether direct or indirect, by stock or asset purchase, merger, consolidation or otherwise) or to all or substantially all of its business or assets to assume expressly and agree to perform this Agreement in the same manner and to the same extent it would be required to perform it if no such succession had taken place.

  • Employer The term “

  • Existing Employees Existing employees who are covered by the coverage clause of this Agreement may become union members at any time. Employees shall, from the date of becoming union members, be bound by all the benefits and obligations relating to employees under this Agreement.

  • Disabled Employees If an employee becomes disabled with the result that he is unable to carry out the regular functions of his position, the Hospital may establish a special classification and salary with the hope of providing an opportunity of continued employment.

  • Soliciting Employees The Executive promises and agrees that for a period of one year following termination of his employment, he will not, directly or indirectly solicit any of the Company employees who earned annually $50,000 or more as a Company employee during the last six months of his or her own employment to work for any other business, individual, partnership, firm, corporation, or other entity.

  • Continuing Employment (a) Continuing employment means full-time or fractional-time employment that does not have a fixed end date or a contingency upon which the employment contract will come to an end. (b) All employment other than fixed-term employment and casual employment will be continuing employment. (c) Notwithstanding subclause 16.0(b) above, the University may employ a person in Continuing (Contingent Funded Research) employment on a full-time or fractional-time basis in accordance with the terms of this Agreement.

  • Deferred Compensation Account The Employer shall maintain on its books and records a Deferred Compensation Account to record its liability for future payments of deferred compensation and interest thereon required to be paid to the Employee or his beneficiary pursuant to this Agreement. However, the Employer shall not be required to segregate or earmark any of its assets for the benefit of the Employee or his beneficiary. The amount reflected in said Deferred Compensation Account shall be available for the Employer's general corporate purposes and shall be available to the Employer's general creditors. The amount reflected in said Deferred Compensation Account shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors of the Employee or his beneficiary, and any attempt to anticipate, alienate, transfer, assign or attach the same shall be void. Neither the Employee nor his beneficiary may assert any right or claim against any specific assets of the Employer. The Employee or his beneficiary shall have only a contractual right against the Employer for the amount reflected in said Deferred Compensation Account and shall have the status of general unsecured creditors. Notwithstanding the foregoing, in order to pay amounts which may become due under this Agreement, the Employer may establish a grantor trust (hereinafter the "Trust") within the meaning of Section 671 of the Internal Revenue Code of 1986, as amended. The assets in such Trust shall at all times be subject to the claims of the general creditors of the Employer in the event of the Employer's bankruptcy or insolvency, and neither the Employee nor any beneficiary shall have any preferred claim or right, or any beneficial ownership interest in, any such assets of the Trust prior to the time such assets are paid to the Employee or beneficiary pursuant to this Agreement. The Employer shall credit to said Deferred Compensation Account the amount of any salary to which the Employee becomes entitled and which is deferred pursuant to Section 1 hereof, such amount to be credited as of the first business day of each month. The Employer shall also credit to said Deferred Compensation Account an Interest Equivalent in the amount and manner set forth in Section 3 hereof.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!