Company Savings Plan Sample Clauses

Company Savings Plan. The Company shall establish a qualified defined contribution plan (the “Company Savings Plan”), effective as of the Plan Transition Date. The Company shall be responsible for taking all necessary, reasonable and appropriate action to establish, maintain and administer the Company Savings Plan so that it is qualified under Section 401(a) of the Code and that the related trust thereunder is exempt under Section 501(a) of the Code, and as soon as reasonably practicable following the Plan Transition Date, the Company shall take all steps reasonably necessary to obtain a favorable determination from the IRS or obtain an opinion as to such qualification. Immediately prior to the Plan Transition Date, the Company Transferred Employees shall cease to participate in the Pfizer Savings Plan and in the Legacy Savings Plan, and upon the Plan Transition Date, the Company Transferred Employees shall be eligible to commence participation in the Company Savings Plan. Any minimum age or service requirements contained in the Company Savings Plan with respect to eligibility to participate generally or eligibility to share in any employer contributions under such plan shall be waived or deemed satisfied for Company Transferred Employees to the extent waived or satisfied under the Pfizer Savings Plan and Legacy Savings Plan immediately prior to the Plan Transition Date.
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Company Savings Plan. Effective as of the Closing, -------------------- Buyer shall have established a defined contribution plan (the "Buyer Savings Plan") and related trust under Section 501(a) of the Code (the "Buyer Savings Trust") to accept a transfer of assets and corresponding liabilities from the Cyprus Amax Savings Plan and the related trust of the Cyprus Amax Savings Plan (the "Cyprus Amax Savings Trust"), in accordance with this Section 5.1.7. As soon as practicable after the Closing, but in no event later than 180 consecutive calendar days after the Closing, and following receipt by Cyprus Amax of a copy of a favorable determination letter or Buyer's certification, which certification is reasonably acceptable to Cyprus Amax, that the Buyer Savings Plan satisfies Sections 401(a) and 401(k) of the Code and the Buyer Savings Trust is qualified under Section 501(a) of the Code (the "Savings Plan Transfer Date"), Cyprus Amax shall direct the trustee of the Cyprus Amax Savings Trust to transfer to the trustee of the Buyer Savings Trust the account balances in the Cyprus Amax Savings Plan of all Company Employees (whether current or former) (the "Transferred Accounts"). Except as specified in the last sentence of this Section 5.1.7, such transfer shall be made in cash and/or as freely transferable securities that are reasonably acceptable to Buyer, transfers of outstanding participant loans to Company Employees, and/or at the sole election of Cyprus Amax, as shares of Cyprus Amax Common Stock. For a period of not less than two years after the Closing, the Buyer Savings Plan shall maintain the Cyprus Amax Common Stock fund as an investment option with respect to the portion of the Transferred Accounts invested in such fund as of the Savings Plan Transfer Date, except to the extent that responsible fiduciaries for the Buyer Savings Plan determine that it is imprudent to do so. In carrying out any transfer in cash, Buyer shall cause the Transferred Accounts to be reinvested in investment options in the Buyer Savings Plan to the extent that such options are substantially the same as the investment options elected by the Company Employees (whether current or former) for such portion of the account balances in the Cyprus Amax Savings Plan. If, with respect to a specific investment option in the Cyprus Amax Savings Plan, there is no investment option in the Buyer Savings Plan that is substantially the same, the portion of a Transferred Account that is invested in such investment o...
Sample 1
Company Savings Plan. Eligibility for the 401(k) Company Savings Plan is set forth in Schedule F, which is attached to this Agreement, and made a part thereof.
Sample 1
Company Savings Plan. The Company’s matching contribution under its Savings Plan related to the Executive’s deferrals and eligible wages in the year ended December 31, 2008 shall be made by December 31, 2009 as required by such plan.
Sample 1
Company Savings Plan. Prior to the Closing, the Company shall -------------------- determine whether any participant in the Company Savings Plan received an insufficient matching contribution as a result of the failure to comply with the terms of the Company Savings Plan in effect in 1994. At the Closing, the Company shall provide Buyer with a certification that either (i) no participant received an insufficient matching contribution; or (ii) any shortfall in matching contributions was eligible to be corrected and was corrected fully pursuant to the Administrative Policy Regarding Self Correction of the Internal Revenue Service; or (iii) any shortfall in matching contributions is eligible to be corrected and either (x) was corrected fully pursuant to the Voluntary Compliance Resolution Program of the Internal Revenue Service, and an appropriate compliance statement was issued by the Internal Revenue Service or (y) an appropriate application for a compliance statement was submitted to the Internal Revenue Service.
Sample 1

Related to Company Savings Plan

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • 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.

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • 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.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

  • 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:

  • Compensation Plans Following any termination of the Executive's employment, the Company shall pay the Executive all unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination under any compensation plan or program of the Company, at the time such payments are due.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

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