Excess Thrift Plan Sample Clauses

Excess Thrift Plan. Effective as of July 1, 2006, GP shall adopt an Excess Thrift Plan (“GP Excess Thrift Plan”) for Eligible GP Employees, as well as other individuals subsequently employed by GP and determined to be eligible under the terms of the GP Excess Thrift Plan, which shall have initial terms substantially similar to the terms of the Valero Energy Corporation Excess Thrift Plan (“VEC Excess Thrift Plan”). Eligible GP Employees shall cease to be eligible for additional contributions or accruals under the VEC Excess Thrift Plan effective as of July 1, 2006 or the Cut-Over Date, as applicable, and, in accordance with the terms of the VEC Excess Thrift Plan, all benefits accrued as of such date by Eligible GP Employees shall be distributed to such Eligible GP Employees as soon as reasonably practical following the effective date of the Initial Tranche or the Cut-Over Date, if later, considering, without limitation, restrictions on certain distributions imposed by the Code. The GP Excess Thrift Plan shall provide credit to all Eligible GP Employees for purposes of vesting for all service credited by VEC for such purpose under the VEC Excess Thrift Plan.
Sample 1
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Excess Thrift Plan that the Company shall be responsible for any Liabilities arising under the Company Excess Thrift Plan with respect to any Participant Basic Contribution (as such term is defined in the Company Thrift Plan) for any Company Employee made with respect to any period of employment prior to the Time of Distribution. The VRM Group and the VRM Excess Thrift Plan shall be solely responsible for all Liabilities arising out of or relating to the VRM Excess Thrift Plan.
Sample 1
Excess Thrift Plan. (a) The Company and VRM shall take all action necessary or appropriate (including amending appropriate Company Plans, including, without limitation, the Company Excess Thrift Plan) so that, effective as of the Time of Distribution, VRM shall become the Sponsor (as defined in the Company Excess Thrift Plan) of the Company Excess Thrift Plan (such plan, following such event, is hereinafter referred to as the "VRM Excess Thrift Plan"), and in such capacity assume responsibility for maintaining the VRM Excess Thrift Plan and for all Liabilities of the Company under the Company Excess Thrift Plan arising after the Time of Distribution to or with respect to VRM Participants and Company Participants, except that the Company shall be responsible for any Liabilities arising under the Company Excess Thrift Plan with respect to any Participant Basic Contribution (as such term is defined in the Company Thrift Plan) for any Company Employee made with respect to any period of employment prior to the Time of Distribution. The VRM Group and the VRM Excess Thrift Plan shall be solely responsible for all Liabilities arising out of or relating to the VRM Excess Thrift Plan.
Sample 1

Related to Excess Thrift Plan

  • 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.

  • 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.

  • Distribution Plans You shall also be entitled to compensation for your services as provided in any Distribution Plan adopted as to any series and class of any Fund’s Shares pursuant to Rule 12b-1 under the 1940 Act. The compensation provided in any such Distribution Plan (a “12b-1 Plan”) may be divided into a distribution fee and a service fee, as set forth in such Plan and the Fund’s then current prospectus and statement of additional information (“SAI”), each of which is compensation for different services to be rendered to the Fund. Subject to the termination provisions in a 12b-1 Plan, any distribution fee with respect to the sale of a Share subject to such Plan shall be earned when such Share is sold and shall be payable from time to time as provided in the 12b-1 Plan. The distribution fee payable to you as provided in any 12b-1 Plan shall be payable without offset, defense or counterclaim (it being understood by the parties hereto that nothing in this sentence shall be deemed a waiver by the Fund of any claim the Fund may have against you).

  • 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:

  • Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • 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).

  • SERP Executive is a participant in the BB&T Corporation Non-Qualified Defined Benefit Plan (the “SERP”). The SERP was formerly known as the Branch Banking and Trust Company Supplemental Executive Retirement Plan. The SERP is a non-qualified, unfunded supplemental retirement plan which provides benefits to or on behalf of selected key management employees. The benefits provided under the SERP supplement the retirement and survivor benefits payable from the Pension Plan. Except in the event the employment of Executive is terminated by the Employer or BB&T for Just Cause and except in the event Executive terminates Executive’s employment for any reason other than Good Reason and such termination does not occur within twelve (12) months after a Change of Control (or, if later, within ninety (90) days after a MOE Revocation), the following special provisions shall apply for purposes of this Agreement:

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

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