CONTINENTAL PROFIT SHARING PLAN Sample Clauses

CONTINENTAL PROFIT SHARING PLAN. The participation in the Continental Profit Sharing Plan by Holdings and each Holdings Affiliate that is a Participating Company in the Continental Profit Sharing Plan shall cease effective as of January 1, 2002. Holdings shall use reasonable best efforts to adopt or cause to be adopted the Holdings Profit Sharing Plan effective as of January 1, 2002, for the benefit of eligible Holdings Employees. The terms and conditions of the Holdings Profit Sharing Plan shall be determined by Holdings.
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CONTINENTAL PROFIT SHARING PLAN. Holdings and each Holdings Affiliate, as applicable, shall continue as a Participating Company consistent with past practice in the Continental Profit Sharing Plan through December 31, 2001. The participation in the Continental Profit Sharing Plan by Holdings and each Holdings Affiliate that is a Participating Company in the Continental Profit Sharing Plan shall cease effective as of January 1, 2002. Holdings shall be liable for the full amount of any and all payments under the Continental Profit Sharing Plan that are owed to any Holdings Employees in connection with the plan participation described in the first sentence of this Section 6.2(b). All or a portion of the payments owed by Holdings to Holdings Employees under the Continental Profit Sharing Plan shall, at the election of Holdings, be paid by Continental and added to the amount payable by Holdings under the InterCompany Note. Effective as of January 1, 2002, Holdings shall use reasonable best efforts to adopt or cause to be adopted the Holdings Profit Sharing Plan for the benefit of eligible Holdings Employees. The terms and conditions of the Holdings Profit Sharing Plan shall be determined by Holdings.
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Related to CONTINENTAL PROFIT SHARING PLAN

  • 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).

  • 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.

  • Pension and Profit Sharing Plans Executive shall be entitled to participate in any pension or profit sharing plan or other type of plan adopted by Company for the benefit of its officers and/or regular employees.

  • 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.

  • 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:

  • 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.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Long-term Incentive Compensation Programs During the Employment Period, the Executive shall participate in all long-term incentive compensation programs (including, without limitation, programs providing for the grant of stock options and other equity-based awards) for key executives at a level that is commensurate with the Executive's participation in such plans immediately prior to the Effective Date, or, if more favorable to the Executive, at the level made available to the Executive or other similarly situated officers at any time thereafter.

  • 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.

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