Defined Benefit Retirement Plans. Tronox shall establish the Tronox Retirement Plan, which shall be substantially similar in all Material Features to the Xxxx-XxXxx Retirement Plan. In addition, Tronox shall establish the Tronox Benefits Restoration Plan, which shall be substantially similar in all Material Features to the defined benefit portion of the Xxxx-XxXxx Benefits Restoration Plan. Tronox may, but is not required to, establish a plan that mirrors the defined contribution portion of the Xxxx-XxXxx Benefits Restoration Plan.
Defined Benefit Retirement Plans. Within 35 business days after the Termination Date or, if later, the earliest time or times permitted under Internal Revenue Code Section 409A and related Federal regulations, if Xx. Xxxxxx is a participant in the Ferro Corporation Retirement Plan and/or the Ferro Corporation Supplemental Defined Benefit Plan for Executive Employees, then the Company will pay Xx. Xxxxxx an amount equal to the present value of the excess of –
Defined Benefit Retirement Plans. (a) Effective as of the Closing Date, Seller shall take all necessary actions to cause the Seller DB Plan to be amended (i) to freeze, effective immediately prior to the Closing Date, future benefit accruals with respect to Transferred Employees and Bridge Employees, and (ii) to provide for the direct trust-to-trust transfer of assets and the assumption of liabilities as contemplated herein.
Defined Benefit Retirement Plans. Employer shall grant [xxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxx]o each Hired Employee for [xxxxxxxxxxxxxxxxxxxxx] purposes under Employers defined benefit retirement plan, [xxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxx]o such Hired Employees under Customers defined benefit retirement plan for such purposes.
Defined Benefit Retirement Plans. Purchaser agrees that, (A) effective as of the first day after the Closing Date, Transitioning Employees shall be eligible to participate in Purchaser’s defined benefit plan(s) on the same basis as the Purchaser’s similarly situated employees are then eligible to participate, and (B) Purchaser shall recognize under each of Purchaser’s defined benefit plans all the Transitioning Employee’s service with Seller completed prior to the Closing for purposes of eligibility to participate and vesting under each such plan, but not for purposes of determining the amount of benefit accrual under the plan.
Defined Benefit Retirement Plans. Within five business days after the Termination Date or, if later, the earliest time or times permitted under Internal Revenue Code Section 409A and related Federal regulations, if Mr./Ms. [Insert Name] is a participant in the Ferro Corporation Retirement Plan and/or the Ferro Corporation Supplemental Defined Benefit Plan for Executive Employees, then the Company will pay Mr./Ms. [Insert Name] an amount equal to the present value of the excess of –
Defined Benefit Retirement Plans. 12 4.01. Establishment of Mirror Retirement Plan and Trust. 12 4.02. Assumption of Pension Plan Liabilities. 12 4.03. Transfer of Assets. 12 4.04. Pension Plan Transfer Amount. 13 Article 5. Defined Contribution Retirement Plans 13 5.01. Establishment of SIP and Trust 13 5.02. Vesting in Xxxx-XxXxx SIP. 14 5.03. Acceptance of Rollovers. 14 5.04. Maintenance of Universal Life Policy. 14 Article 6. Health and Welfare Plans 14 6.01. Establishment of Health and Welfare Plans. 14 6.02. Health and Welfare Plans. 14 6.03. Special Rule for HCSA and DCSA Plans. 15 6.04. Vendor Contracts. 15 6.05. Disability Plans. 16 6.06. Life Insurance Plans. 16 6.07. COBRA. 16 6.08. Leave of Absence Programs and FMLA. 17 6.09. Xxxx-XxXxx Workers' Compensation Program. 17 6.10. Xxxx-XxXxx Employee Assistance Program. 17 6.11. Unemployment Insurance Tax Management Program. 17 6.12. Administration. 18 6.13. UMWA Combined Benefit Fund. 18 6.14. Medicare Part B Reimbursements. 18 6.15. Reimbursements by Kennecott. 18 6.16. Application of Article 6 to Tronox Entities. 18 Article 7. Stock-Based Compensation 18 7.01. Establishment of Plan. 18 7.02. Stock Options. 18 7.03. Restricted Stock. 19 Article 8. Executive Benefits 19 8.01. Establishment of Plans. 19 8.02. Xxxx-XxXxx Benefits Restoration Plan. 19 8.03. Rabbi Trust. 20 8.04. Continuity Agreements. 20 8.05. Code Section 162(m). 20 Article 9. Miscellaneous Benefits 20 9.01. Service Award Program. 20
Defined Benefit Retirement Plans. 45 Section 8.03.
Defined Benefit Retirement Plans. We sponsor various defined benefit plans, including two pension plans, and OPEB plans that provide certain health care and life insurance benefits for retired employees, including those of our former parent company. During 2016, 2015 and 2014 we did not make any contribution to the Aetna Pension Plan. Effective December 31, 2010, our employees no longer earn future pension service credits in the Aetna Pension Plan (i.e., the Plan was “frozen” effective December 31, 2010), although the Aetna Pension Plan will continue to operate and account balances will continue to earn annual interest credits. In July 2014, we enhanced the Aetna Pension Plan. Effective December 1, 2014, we permitted certain current and future former employees with deferred vested Aetna Pension Plan balances to elect to receive a 100% lump-sum distribution. This election is a permanent addition to the Aetna Pension Plan. In addition, in July 2014, we announced a limited-time offer permitting certain former employees with deferred vested Aetna Pension Plan balances to elect a 100% lump-sum distribution. These distributions
Defined Benefit Retirement Plans. 16 4.01. Establishment of Mirror Retirement Plan and Trust. 16 4.02. Assumption of Pension Plan Liabilities. 16 4.03. Transfer of Assets. 16 4.04. Pension Plan Transfer Amount. 17
