Canadian Plan Clause Samples

Canadian Plan. Effective as of the Separation Date, Mead Johnson shall establish the Mead Johnson Canada Supplemental Retirement Plan as set forth in Subsection 7.1(c)
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Canadian Plan. 4, 56 Canadian Target Tax Amount ..................................................... 4
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Canadian Plan. If the transfer of assets and liabilities from the Pension Plan for Salaried Employees of Nacan Products Limited and Associated and Subsidiary Companies to the Pension Plan for Salaried Employees of National Starch ULC and its Associates and Subsidiary Companies (the “Canadian Pension Transfer”) which has an effective date as of April 1, 2008 (the “Canadian Pension Transfer Effective Date”) has not occurred before Closing then: (i) if the Ontario Superintendent of Financial Services approves the Canadian Pension Transfer [in an amount that is, as of the Canadian Pension Transfer Effective Date, less than the amount calculated as of the Canadian Pension Transfer Effective Date and as specified in the asset transfer report filed with the Ontario Superintendent of Financial Services in 2009 requesting approval for the Canadian Pension Transfer. Seller shall pay to Purchaser an amount equal to the difference between such amounts within 14 Business Days following the date on which the Ontario Superintendent of Financial Services approves the Canadian Pension Transfer; and (ii) if the Ontario Superintendent of Financial Services approves the Canadian Pension Transfer in an amount that is, as of the Canadian Pension Transfer Effective Date, more than the amount calculated as of the Canadian Pension Transfer Effective Date and as specified in the asset transfer report filed with the Ontario Superintendent of Financial Services in 2009 requesting approval for the Canadian Pension Transfer, Purchaser shall pay to Seller an amount equal to the difference between such amounts within 14 Business Days following the date on which the Ontario Superintendent of Financial Services approves the Canadian Pension Transfer, provided that no payment will be made under this clause if the amount of such payment is Can $1 million or less. To the extent that any member of Seller’s Group has any co-management or custodial rights with respect to the Nacan Plan (including with respect to the investment of the assets thereof), Seller shall grant Purchaser such rights to the full extent permitted by Law during the period from and after the Closing through and including the date on which the Ontario Superintendent consents to a transfer of assets from the Nacan Plan to the National Starch Plan.
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Canadian Plan. Effective as of the Separation Date, Mead Johnson shall establish the Mead Johnson Canada Supplemental Retirement Plan as set forth in Subsection 7.1(c) of the Schedules. The Liabilities under the Supplemental Retirement Plan for Employees of Bristol-Myers Squibb Canada as of the Separation Date attributable to Foreign Mead Johnson Transferred Employees participating in such Plan shall be transferred to and assumed by the Mead Johnson Canada Supplemental Retirement Plan. The Liabilities subject to the transfer and assumption shall be calculated as provided in Subsection 7.1(c) of the Schedules, subject to applicable law. The amount of the transfer and the terms and conditions of the transfer and assumption shall be approved by BMS and Mead Johnson or their respective designees. BMS and Mead Johnson agree to use commercially reasonable efforts to accomplish this transfer and assumption as soon as practicable following the Separation Date and to cooperate with each other to make such filings and disclosure and obtain such approvals as may be necessary or advisable.
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Related to Canadian Plan

  • Canadian Pension Plans The Loan Parties shall not (a) contribute to or assume an obligation to contribute to any Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent, or (b) acquire an interest in any Person if such Person sponsors, administers, maintains or contributes to or has any liability in respect of any Canadian Defined Benefit Plan, or at any time in the five-year period preceding such acquisition has sponsored, administered, maintained, or contributed to a Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent.

  • Pension Plan Employers and/or individuals who manage, operate, assist or own, either partially or wholly, a company or companies working non-union in the construction industry on Mainland Nova Scotia within the craft jurisdiction of ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Local 83 shall not be eligible to be appointed to serve, or to continue to serve, as trustees on any trust fund referred to within this Collective Agreement. This provision shall apply to management trustees and union trustees alike. 29.01 It is agreed that the employer shall pay into the established Pension Fund an amount per hour for each hour paid as per the wage tables in Craft Schedule “A”, “B”, “S” and Appendix “MIP”. Pension contributions shall be calculated based on the base hourly rate and vacation pay, and no premium shall affect this. For the purposes of this Article, overtime rates payable in accordance with Article 16 are not premiums. Such contributions shall be paid to the Trustees of the Pension Fund on or before the fifteenth (15th) day of the month following the month such hours were worked and shall be accompanied by a remittance report form for each employee on a form prescribed by the Trustees of the Fund. Each monthly report and contributions shall include all obligations arising from hours worked up to the preceding calendar month. 29.02 It is agreed that provisions for an increase in the Pension Plan (other than those increases listed above) will be implemented if so desired by the Local, with the employer contribution to be deducted from the wages rates contained herein, provided the employer receives sixty (60) days notice of such change. 29.03 The Pension Plan shall be professionally administered. 29.04 Neither the United Brotherhood of Carpenters and Joiners of America, Local 83, nor the Nova Scotia Construction Labour Relations Association shall incur any legal liability with regard to claims arising from the Pension Plan. 29.05 Employers bound by, or subject to the Agreement, shall be required to maintain for a two (2) year period, a complete set of employment records including: • employee’s name, address, and S.I.N. • number of hours worked by the employee in each week • employee’s wage rate and gross earnings, amount(s) and description of deductions from the employee’s wages • particulars of pay allowances or other payments or benefits to which the employee is entitled.

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan: (a) the termination of a Pension Plan if, as a result of such termination, Borrower or any member of its Controlled Group could be required to make a contribution to such Pension Plan, or would reasonably expect to incur a liability or obligation to such Pension Plan, in excess of $150,000,000; or (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a lien under Section 302(f) of ERISA with respect to a liability or obligation in excess of $150,000,000.

  • Participation in Benefit Plans The Executive shall be eligible to participate in the employee benefit plans and programs maintained by the Company from time to time for its executives, or for its employees generally, including without limitation any life, medical, dental, accidental and disability insurance and profit sharing, pension, retirement, savings, stock option, incentive stock and deferred compensation plans, in accordance with the terms and conditions as in effect from time to time.

  • ERISA Plan The Buyer is an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974.