Commingled Retirement Plans Sample Clauses

Commingled Retirement Plans. Except as otherwise may be agreed by Purchaser and Seller, Purchaser shall, or shall cause an Affiliate of Purchaser to, use its commercially reasonable efforts to establish or maintain as soon as practicable following the Closing Date (or Delayed Transfer Closing with respect to a Delayed Transfer Country) one or more retirement plans (such plan or plans, a “Purchaser Non-U.S. Retirement Plan”) in each country in which a Transferred Employee (assuming for purposes of this Section 5.5(m) that all Applicable OUS Conveyed Company SSEs are Transferred Employees) (but specifically excluding Offerees and Non-OUS Conveyed Company SSEs) who participated in a Commingled Retirement Plan immediately prior to the Closing Date (or Delayed Transfer Closing with respect to a Delayed Transfer Country) will be eligible to participate, with terms substantially comparable to the terms of the applicable Commingled Retirement Plan as in effect immediately prior to the Closing Date (or Delayed Transfer Closing with respect to a Delayed Transfer Country). To the extent permitted by Law, Seller or its Affiliates shall cause the Commingled Retirement Plans in each country to transfer (and Purchaser shall cause the Purchaser Non-U.S. Retirement Plan in each country to accept a transfer of) benefit liabilities (determined as of the Closing Date or Delayed Transfer Closing with respect to a Delayed Transfer Country), regardless of whether such benefits are vested or unvested, relating to the Non-U.S. Pension Participants (excluding Offerees and Non-OUS Conveyed Company SSEs) under the Commingled Retirement Plans to the extent applicable (the “Assumed Non-U.S. Pension Liabilities”) and, to the extent required by Law or collective bargaining (or similar) agreement or as may become necessary in connection with the labor consultation process related to the transactions contemplated hereby, Seller shall cause the Commingled Retirement Plans in each jurisdiction to transfer (and Purchaser shall cause the Purchaser Non-U.S. Retirement Plans in each country to accept a transfer of) assets, but only in an amount equal to the minimum amount of assets required by applicable Law or collective bargaining (or similar) agreement to be transferred, from a Commingled Retirement Plan to the relevant Purchaser Non-U.S. Retirement Plan in connection with the assumption of the Assumed Non-U.S. Pension Liabilities or, to the extent permitted by applicable Law, such higher level of assets as may be reason...
Sample 1
AutoNDA by SimpleDocs

Related to Commingled Retirement Plans

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • 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.

  • Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Retirement Plan Employee shall participate, after meeting eligibility requirements, in any qualified retirement plans and/or welfare plans maintained by the Company during the term of this Agreement.

  • Savings Plans Employee shall be entitled to participate in Employer’s 401(k) plan, or other retirement or savings plans as are made available to Employer’s other executives and officers and on the same terms which are available to Employer’s other executives and officers.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • SERP Executive is a participant in the BB&T Corporation Non-Qualified Defined Benefit Plan (the “SERP”). The SERP was formerly known as the Branch Banking and Trust Company Supplemental Executive Retirement Plan. The SERP is a non-qualified, unfunded supplemental retirement plan which provides benefits to or on behalf of selected key management employees. The benefits provided under the SERP supplement the retirement and survivor benefits payable from the Pension Plan. Except in the event the employment of Executive is terminated by the Employer or BB&T for Just Cause and except in the event Executive terminates Executive’s employment for any reason other than Good Reason and such termination does not occur within twelve (12) months after a Change of Control (or, if later, within ninety (90) days after a MOE Revocation), the following special provisions shall apply for purposes of this Agreement:

  • Supplemental Retirement Benefit In addition to the foregoing, Executive shall be eligible to participate in the Supplemental Executive Retirement Plan maintained by Cleco Utility Group Inc. or such other supplemental retirement benefit plans which the Company or its Affiliates may adopt, from time to time, for similarly situated executives (the "Supplemental Plan").

Time is Money Join Law Insider Premium to draft better contracts faster.