Defined Contribution Plans. The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined contribution plan" (as defined in Section 3(34) of ERISA), whether or not terminated.
Defined Contribution Plans. The Company shall not use the provisions of any defined contribution plan to deny a lump sum option to the Executive unless this occurs under uniform treatment applicable to all plan participants.
Defined Contribution Plans. (a) Establishment of the Columbia Retirement Savings Plan. Effective on or before the Distribution Date, Columbia shall adopt, establish and maintain a 401(k) profit sharing plan and trust for the benefit of employees of the Columbia Parties that is substantially similar to the NiSource RSP and is intended to be qualified under Section 401(a) of the Code and exempt from federal income tax under Section 501(a) of the Code (the “Columbia RSP”). As soon as practicable after the adoption of the Columbia RSP, or as otherwise required under Revenue Procedure 2007-44, Columbia shall submit an application to the IRS for a determination that the Columbia RSP is qualified under Section 401(a) of the Code and that the related Columbia RSP Trust is exempt from federal income tax under Section 501(a) of the Code, and shall take any actions not inconsistent with Columbia’s other general commitments contained in this Agreement and make any amendments necessary to receive such determination. As of the Distribution Date, each Business Employee employed by the Columbia Parties (and any survivor or beneficiary of a Deceased Business Employee who is entitled to a benefit under the NiSource RSP immediately prior to the Distribution Date) shall be eligible to participate in the Columbia RSP, which shall recognize the service of such Business Employee with NiSource and its Subsidiaries in accordance with Section 7.04.
(b) Transfer of Assets from NiSource, Inc. Retirement Savings Plan. On or as soon as administratively practicable after the Distribution Date, NiSource shall cause the NiSource RSP Trust to transfer to the Columbia RSP Trust assets having a value as of the applicable valuation date that is equal to the value of the account balances of, and accrued liabilities (including any outstanding loan balances) with respect to, all Business Employees and all survivors and beneficiaries of all Deceased Business Employees with an account balance under the NiSource RSP as of such valuation date. “Accrued liabilities” for these purposes shall include employer matching contributions and nondiscretionary employer profit sharing contributions deposited to the NiSource RSP Trust on a per payroll basis for any Business Employee that was accrued prior to the transfer of assets from the NiSource RSP Trust to the Columbia RSP Trust. Notwithstanding the foregoing, with respect to any discretionary profit sharing contributions payable to Business Employees for the 2015 calendar year and to...
Defined Contribution Plans. (a) Effective as of the effective time of the Closing, the Purchaser shall establish or amend its tax-qualified, defined contribution plan (the "PURCHASER'S DEFINED CONTRIBUTION PLAN"), that shall provide, subject to SECTION 10.1(e), for participation by Transferring Employees immediately following the Closing Date. The Purchaser's Defined Contribution Plan shall take into account for purposes of eligibility and vesting each Transferring Employee's service with the Seller.
(b) All Transferring Employees as of the Closing Date, shall be fully vested in their account balances under the Seller's defined contribution plans (the "Seller's Defined Contribution Plans") and shall be entitled to either (i) an immediate distribution of their account balances in accordance with the terms of each such plan, (ii) maintain such amounts in the Seller's Defined Contribution Plans in accordance with their terms, or (iii) transfer their respective account balances (including any unpaid participant loans in such accounts) directly to the Purchaser's Defined Contribution Plan. In the event that, pursuant to clause SECTION 10.4(b)(iii), any Transferring Employee elects to transfer her or her account balances to the Purchaser's Defined Contribution Plan, then the Seller shall cause the trustee or trustees of the one or more the Seller's Defined Contribution Plans (the "SELLER'S DEFINED CONTRIBUTION PLANS TRUSTEE") to transfer to the trustees or other funding agent of the Purchaser's Defined Contribution Plan (the "PURCHASER'S DEFINED CONTRIBUTION PLAN TRUSTEE") the assets allocated to the accounts of such Person under the Seller's Defined Contribution Plans. Each such transfer shall comply with Section 414(1) of the Code and the requirements of ERISA and the regulations promulgated thereunder. Further, no transfer shall be made unless and until the Seller and the Purchaser each provide each other with a current favorable determination letter from the IRS as to the qualification of its respective plan.
(c) Upon completion of the transfer of assets described in SECTION 10.4(b), the Purchaser's Defined Contribution Plan shall assume the benefit liabilities under the Seller's Defined Contribution Plans with respect to Transferring Employees, and neither the Seller nor the Seller's Defined Contribution Plans shall have any further obligation or responsibility with respect to such liabilities, which shall be considered for all purposes as having been satisfied as a result of such tra...
Defined Contribution Plans. 4.1 401(k) PLAN.
(a) ADOPTION BY TELEDYNE TECHNOLOGIES OF TELEDYNE 401(k) PLAN AMENDED TO BE A MULTIPLE EMPLOYER PLAN. On or before the Distribution Date, the Teledyne 401(k) Plan will be amended by Teledyne to be and become a multiple employer plan under which Teledyne Technologies may elect to be a contributing sponsor and to provide participation to Teledyne Technologies Individuals under the terms and conditions set forth in the Teledyne 401(k) Plan for a period ending on the earlier of (i) adoption by Teledyne Technologies of the Teledyne Technologies 401(k) Plan or (ii) April 1, 2000. The right to amend the Teledyne 401(k) Plan in any respect shall be exclusively within the power of Teledyne at all relevant times. As amended, the Teledyne 401(k) Plan shall provide that (A) Teledyne Technologies Individuals shall not be permitted to direct investments after the Distribution Date in shares of common stock of ATI ("ATI Common Stock") or in the common stock of any corporation spun off by ATI on the Distribution Date other than Teledyne Technologies and (B) that each Teledyne Technologies Individual shall have the right to direct the administrator of the Teledyne 401(k) Plan to liquidate such Teledyne Technologies Individual's interest in shares of ATI Common Stock, Teledyne Technologies Common Stock or the common 9 13 stock of any other previously related corporation and direct the method of reinvestment of the proceeds of such sale from among the options then available under the Teledyne 401(k) Plan.
(b) ESTABLISHMENT OF TELEDYNE TECHNOLOGIES 401(k) PLAN AND TRUST. The Teledyne Technologies 401(k) Plan, established by Teledyne Technologies no later than April 1, 2000 pursuant to Section 2.2, (i) shall be a qualified defined contribution plan within the meaning of Code Section 401(a), (ii) except as provided under Section 4.1(c), shall contain provisions, terms and conditions substantially similar to the provisions, terms and conditions of the Teledyne 401(k) Plan, including provisions with respect to the ATI Common Stock and the common stock of Teledyne Technologies and any other corporation spun off by ATI on the Distribution Date, and shall further provide that Teledyne Technologies Individuals may maintain investments in ATI Common Stock, Teledyne Technologies Common Stock and/or stock of any previously related corporation until December 31, 2002 and, if ATI Common Stock and/or common stock of any previously related corporation other than Teledyne Te...
Defined Contribution Plans. (a) Effective as of the Closing, Buyer shall designate one or more defined contribution pension plans (collectively, the “Buyer DC Plans”) for the benefit of the Transferred Employees who participated in one or more of the defined contribution pension plans maintained by Fox or its Affiliates (collectively, the “Seller DC Plans”) that are intended to be qualified under Section 401(a) of the Code immediately prior to the Closing (collectively, the “Business DC Plans”). Such Transferred Employees are referred to hereinafter as the “DC Employees”. The DC Employees shall be given credit under the respective Buyer DC Plan for all service with Seller and its Affiliates and their respective predecessors as if it were service with Buyer for purposes of determining eligibility and vesting under each respective Buyer DC Plan, solely to the extent such service is credited for the purposes of the applicable defined contribution plan in which the Transferred Employee participated immediately prior to Closing. The applicable Buyer DC Plans shall be tax-qualified under Section 401(a) of the Code.
(b) Each Buyer DC Plan will provide for the receipt in kind from the DC Employees of “eligible rollover distributions” (as such term is defined under Section 402 of the Code) other than distributions from Xxxx accounts in the Seller DC Plans, including notes corresponding to loans (other than loans that are fully or partially secured by amounts in Xxxx accounts in the Seller DC Plans). Buyer and Seller will work together in order to facilitate any such distribution or rollover and to effect an eligible rollover distribution for those DC Employees who timely elect to rollover their account balances, including notes, directly into a Buyer DC Plan.
Defined Contribution Plans. 9 4.1 401(k) PLAN..............................................................................................9
Defined Contribution Plans. SECTION 3.1. D&B Savings Plan. From and after the Effective Time, D&B shall continue to sponsor the D&B Savings Plan for the benefit of D&B Post-Distribution Employees, D&B Retirees, D&B Disabled Employees, Cognizant Bifurcated Savings Plan Employees (as defined in Section 3.2(a) below) and ACNielsen Bifurcated Savings Plan Employees (as defined in Section 3.3(a) below). Active participation of Cognizant Employees and ACNielsen Employees in the D&B Savings Plan shall cease immediately after the Effective Time.
Defined Contribution Plans. Section 3.1 401(k) Plan.
