Defined Contribution Plans Clause Samples

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. Immediately prior to the Closing Date, the Seller shall take, or cause to be taken, all such actions as may be necessary for the Company to cease to participate under the Seller’s defined contribution plans covering the Mt. Holly Em▇▇▇▇▇es, the Mt. Holly Ne▇ ▇▇▇es and the Former Mt. Holly Em▇▇▇▇▇es identified on Schedule 7.12 (“Seller DC Plans”). The Buyer will establish or designate one or more defined contribution plans in which all Mt. Holly Em▇▇▇▇▇es and Mt. Holly Ne▇ ▇▇▇es will be eligible to participate as soon as practicable after the Closing Date (or the date of hire with Buyer for LOA Employees) (“Buyer DC Plans”). Prior to the Closing Date, the Buyer shall have provided a favorable determination letter from the IRS that Buyer DC Plans meet the requirements for favorable tax qualification under Section 401(a) of the Code and its related trust meets the requirements for tax exemption under Section 501(a) of the Code. Each Mt. Holly Em▇▇▇▇▇e, Mt. Holly Ne▇ ▇▇▇e and Former Mt. Holly Em▇▇▇▇▇e will be permitted to receive a distribution of his or her full account balance from the Seller DC Plans. All Mt. Holly Em▇▇▇▇▇es and Mt. Holly Ne▇ ▇▇▇es will be permitted to have such distribution “rolled over” in cash to an accepting eligible retirement plan in accordance with the Seller DC Plans as soon as practicable after the Closing Date (or the date of hire with Buyer for LOA Employees). The Seller will cause the Seller DC Plans to permit all Mt. Holly Em▇▇▇▇▇es and Mt. Holly Ne▇ ▇▇▇es with any outstanding loans under Seller DC Plans to continue to accept manual repayments of such outstanding loans after the Closing Date, in accordance with the applicable terms of the Seller DC Plans as in effect at such times that such repayments are to be made. The Buyer shall cause the applicable Buyer DC Plans to accept qualified direct and indirect rollovers from the Seller DC Plans.

Defined Contribution Plans performance only Flat fee per class per year $2,000

Defined Contribution Plans. 4.1 401(k) PLAN. (a) ADOPTION BY WATER PIK 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 Water Pik may elect to be a contributing sponsor and to provide participation to Water Pik 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 Water Pik of the Water Pik 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) Water Pik 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 Water Pik and (B) that each Water Pik Individual shall have the right to direct the administrator of the Teledyne 401(k) Plan to liquidate the interests of Water Pik Individuals in the ATI Common Stock, Water Pik Common Stock or the common 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 WATER PIK 401(k) PLAN AND TRUST. The Water Pik 401(k) Plan, established by Water Pik pursuant to Section 2.2 no later than April 1, 2000, (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 ATI Common Stock and the common stock of Water Pik and any other corporation spun off by ATI on the Distribution Date, and shall further provide that Water Pik Individuals may maintain investments in ATI Common Stock, Water Pik 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 Water Pik is held in accounts of Water Pik Individuals in the Teledyne 401(k) Plan as of December 31, 2002, the interests of Water Pik Individuals shall be liquidated by the Plan administrator and the proceeds reinve...

Defined Contribution Plans. (i) As of the date ▇▇▇▇▇▇▇ Polymer Employees or Tolling Employees become Transferred U.S. Employees in accordance with Sections 12.03(a) and (b) above, the Transferred U.S. Employees shall cease active participation in any Seller Pension Plans which are intended to qualify under Section 401(a) of the Code and which constitute a defined contribution plan within the meaning of ERISA Section 3(34) (the “Seller Defined Contribution Plans”) and Buyer will take, or cause to be taken, all action as may be necessary to cause such Transferred U.S. Employees to become participants in a defined contribution plan established or to be established by Buyer (the “Buyer Defined Contribution Plan”) as of such date, subject to any applicable age and service requirements. Service of each Transferred U.S. Employee recognized under terms of Seller’s Defined Contribution Plan for periods prior to the Closing Date shall be credited to the Transferred U.S. Employee for all purposes (including eligibility and vesting) under the Buyer Defined Contribution Plan. In accordance with the terms of the Seller Defined Contribution Plan, Transferred U.S. Employees will be fully vested in their accrued benefits under such plan as of the date of their separation from service with the applicable Seller or its Affiliate. (ii) Buyer and ▇▇▇▇▇▇▇ Polymer may agree to allow Transferred U.S. Employees who are participants in a Seller Defined Contribution Plan to elect direct rollover distributions from such Seller Defined Contribution Plan to a Buyer Defined Contribution Plan, which directed rollover may include any loan notes outstanding as of the time of such distribution from such Seller Defined Contribution Plan in accordance with Section 402 of the Code. In order to rollover an outstanding loan note, a Transferred U.S. Employee may be required to execute [a] an acknowledgement that the Buyer Defined Contribution Plan will be substituted for the applicable Seller Defined Contribution Plan as the obligee of the loan note, [b] a payroll authorization form and [c] any other forms deemed necessary by the plan administrator for the Buyer Defined Contribution Plan. All directed rollovers between the Seller Defined Contribution Plan and any Buyer Defined Contribution Plan will be in the form of cash and/or loan notes, as described herein. No other assets shall be transferred from the Seller Defined Contribution Plan to the Buyer Defined Contribution Plan other than as specified herein.

Defined Contribution Plans. 9 4.1 401(k) PLAN..............................................................................................9

Defined Contribution Plans. 75 Section 10.06.

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.