Common use of Benefit Plan Contributions Clause in Contracts

Benefit Plan Contributions. Employee will continue to be eligible as an “employee” of Safeco through the Termination Date for employer contributions paid under Safeco’s employee benefit plans. Employee will be eligible to participate in and will receive pro rata contributions to the Safeco 401(k)/Profit Sharing Retirement Plan, as the same may be available to other employees. Employee acknowledges that any employer contributions to, or interest or other income credited to, any of the Safeco 401(k)/Profit Sharing Retirement Plan or Safeco Employees’ Cash Balance Plan will be additional compensation to Employee in excess of the total Severance Payment amount described above.

Appears in 3 contracts

Samples: Separation Agreement, Separation and General Release Agreement (Safeco Corp), Separation and General Release Agreement (Safeco Corp)

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Benefit Plan Contributions. Employee will shall continue to be eligible as an "employee" of Safeco the Company through the Termination Date for employer contributions paid under Safeco’s the Company's employee benefit plans. Employee will shall be eligible to participate in and will shall receive pro rata contributions to the Safeco 401(k)/Profit Sharing Retirement Plan, as the same may be available to other employeesemployees of the Company. Employee acknowledges that any employer contributions to, or interest or other income credited to, any of the Safeco 401(k)/Profit Sharing Retirement Plan or Safeco Employees' Cash Balance Plan will shall be additional compensation to Employee in excess of the total Severance Payment amount described above.

Appears in 1 contract

Samples: Separation and General Release Agreement (Safeco Corp)

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