Defined Contribution Plan Sample Clauses

Defined Contribution Plan. (1) 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 of 1% of each represented employee’s annual payroll earnings will be made

Defined Contribution Plan. ASEs shall continue to be eligible for DCP coverage in accordance with the UC plan requirements.

Defined Contribution Plan. A plan under which Employee accounts are maintained for each Participant to which all contributions, forfeitures, investment income and gains or losses, and expenses are credited or deducted. A Participant’s benefit under such plan is based solely on the fair market value of his or her account balance.

Defined Contribution Plan. Defined Contribution Plan means a retirement plan which provides for an individual account for each Participant and for benefits based solely on the amount contributed to the Participant's Account, and on any Earnings, expenses, and forfeitures which the Plan Administrator may allocate to such Participant's Account.

Defined Contribution Plan. 7 3.1 401(k) Plan.........................................................................................7

Defined Contribution Plan. (a) Prior to the Closing Date, Ranger shall take or cause to be taken all actions necessary to provide that each employee of the KXAS Business is fully (100%) vested in all amounts credited to the KXAS Transferred Employee's account under each KXAS DC Plan. (b) As soon as practicable following the Closing Date, NBC shall adopt or designate one or more defined contribution plans (as defined in Section 3(34) of ERISA) intended to meet the requirements of Section 401(a) of the Code (each an "NBC DC PLAN"), the terms of which shall be determined in the sole discretion of NBC or an NBC Affiliate designated by NBC, subject to its obligation under Section 11.02. To the extent permitted by ERISA and the Code, Ranger shall take or cause to be taken all actions necessary to permit the distribution and rollover, or the direct transfer (under Code Section 401(a)(31)), of the account balance of each KXAS Transferred Employee under each KXAS DC Plan to an NBC DC Plan designated by NBC; provided, however, that each NBC DC Plan shall be required to accept such rollovers or transfers only to the extent that they are made in cash, and shall not be required to accept rollovers or transfers of participant loan notes, securities or other in-kind assets. (c) The parties hereto shall cooperate and take all actions reasonably necessary or appropriate to: (i) effectuate the rollovers and transfers described herein; (ii) at the request of NBC, assure that for a period of up to one year following the Closing Date any participant loans taken by any KXAS Transferred Employee under any pension plans (as defined in Section 3(2) of ERISA) are not called due or deemed distributions by reason of the transactions contemplated herein or by reason of any termination or deemed termination of employment of any such KXAS Transferred Employee as a result of the transactions contemplated herein; and (iii) share information necessary to each party to effectuate the foregoing.

Defined Contribution Plan. Employees hired on or after the effective date of the MERS Defined Contribution (“DC”) Plan for this bargaining unit shall participate in that plan. The Employer shall contribute seven percent (7%) of a participating employee's gross wages to the DC Plan. A participating employee shall be required to contribute three percent (3%) of gross wages to the DC Plan. A participating employee may also voluntarily contribute additional

Defined Contribution Plan. (a) Effective as of the Closing Date, the Transferred Employees will no longer participate in the Chemtura Corporation Employees Savings Plan (the “Savings Plan”), and the Seller will have taken all such action prior to the Closing Date as may be required to achieve this result. As of the Closing Date, the Seller will cause each Transferred Employee to be one hundred percent (100%) vested in his or her account balance. (b) After the Closing Date, the Purchaser will establish or provide the Transferred Employees with a new savings plan intended to be qualified under Sections 401(a) and 401(k) of the Code, which shall provide (i) for immediate eligibility for participation for each Transferred Employee who participated in the Savings Plan immediately prior to the Closing Date, and (ii) vesting and eligibility provisions that are no less favorable than those of the Savings Plan as in effect immediately prior to the Closing Date, applied by aggregating service with the Seller and its Affiliates prior to the Closing Date with service with the Purchaser and its Affiliates on and after the Closing Date. The Seller and the Purchaser agree to cooperate fully with respect to the actions necessary to effect the transactions contemplated in this Section 10.3, including the provision of records and information as each may reasonably request from the other. (c) With effect from the Closing, the Purchaser shall cause its savings plan established pursuant to Section 10.3(b) above to accept rollovers of distributions to Transferred Employees from, and direct rollovers elected by Transferred Employees from, the Savings Plan, including any note evidencing a loan to any Transferred Employee under the Savings Plan.

Defined Contribution Plan. 4.1 CONTINENTAL 401(k)

Defined Contribution Plan. A Plan under which individual accounts are maintained for each Participant to which all contributions, forfeitures, investment income and gains or losses, and expenses are credited or deducted. A Participant's benefit under such Plan is based solely on the fair market value of his or her account balance.