International Pension Plans Sample Clauses

International Pension Plans. Except as otherwise provided herein, at the Effective Time (or at any earlier date required at applicable law), SpinCo shall or shall cause another member of the SpinCo Group to assume each Parent Plan providing pension or retirement benefits to Business Employees in jurisdictions outside of the United States. Notwithstanding the foregoing, Parent shall or shall cause a member of the Parent Group to retain the liabilities to Business Employees who do not become Transferred Employees under the Parent Plans in which employees located in Italy or Spain participate as of immediately prior to the Effective Time.
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International Pension Plans. Subject to the other ----------------------------- provisions of this Article VIII, the allocation of obligations and liabilities arising under any non-US or international pension benefit plan (an "INTERNATIONAL PENSION PLAN") and the transfer of any assets thereunder shall be -------------------------- made subject to and in accordance with the following: (i) Subject to applicable laws, Assumed Employees shall become 100% vested in their benefits under each funded International Pension Plan as of the Closing Date, and under each unfunded International Pension Plan in accordance with the vesting provisions of such plan or upon the employee's earlier death, disability, or termination without Cause. (ii) With respect to any funded International Pension Plan sponsored or maintained by the Seller or any Subsidiary of the Seller that is not a Spirits Subsidiary ("SELLER INTERNATIONAL PENSION PLAN"), effective as of the ----------------------------------- Closing Date, the Buyers shall designate or create funded pension benefit plans ("BUYER INTERNATIONAL PLANS") with respect to each country in which Assumed --------------------------- Employees shall be working that are substantially identical to the funded Seller International Pension Plans applicable to Business Employees in such countries and which replicate the benefits, features and rights of such Seller International Pension Plans. (iii) All funded and unfunded International Pension Plans sponsored or maintained by a Spirits Subsidiary in which Assumed Employees participate shall continue to be so maintained after the Closing Date in accordance with their terms. Alternatively, such International Pension Plan shall be treated as a Seller International Pension Plan, and, in accordance with the provisions of Section 8.8(v), the Buyers shall request from such trustee or independent pension board that administers such International Pension Plan, a transfer of assets and liabilities to a Buyer International Plan. (iv) Effective as of the Closing Date, the Buyers shall assume all liabilities under each non-funded Seller International Pension Plan with respect to the Assumed Employees. (v) With respect to each funded Seller International Pension Plan, following the Closing Date, the Buyers will request from the trustee or independent pension board that administers such plan a transfer to the corresponding Buyer International Plan of assets and liabilities attributable to the Assumed Employees participating therei...
Sample 1
International Pension Plans. (i) Effective as of the Closing Date, (A) DJM shall cease to be a participating employer under each pension plan, scheme or other arrangement, whether of a defined benefit or defined contribution nature, that is sponsored by Dow Jones or any of its Affiliates and that covers either employees of Dox Xxxes and its Affiliates (excluding DJM) or Employees in each case whxxx xre domiciled outside of the United States and (B) Dow Jones shall become, or cause one of its Affiliates (excluding DJM) to xxxxme, the successor sponsor of each pension plan, scheme or other arrangement, whether of a defined benefit or defined contribution nature, that is sponsored by DJM as of the Closing Date and that covers both employees of Dow Jones and its Affiliates (excluding DJM) and Employees in each case wxxxx are domiciled outside of the United States (collectively, the "International Pension Plans"). Each of Dow Jones and DJM shall take, or cause to be taken, all such action as max xx necessary to effect the foregoing cessation of participation and change of sponsorship. (ii) With respect to each International Pension Plan, to the extent permitted by applicable law and the terms of the International Pension Plan, Dow Jones shall, as soon as practicable after the Closing Date, transfer, xx xause to be transferred, to the pension plan, scheme or other arrangement designated by Purchaser ("Purchaser's International Pension Plans") (or trust forming a part thereof) (A) in the case of an International Pension Plan that is a funded defined contribution plan, cash or property in an amount equal to the account balances of Employees who are participants in such International Pension Plan valued as of the most reasonably practicable date prior to such transfer and (B) in the case of an International Pension Plan that is a defined benefit plan, cash or property in such amount as Dow Jones and Purchaser shall reasonably agree, after taking into account xxx underfunding with respect to such plans (in either case, the "International Pension Plan Assets"); provided, however, that in the event Dow Jones and Purchaser do not reasonably agree, within 120 days of Closixx, xs to the amount of cash and property to be transferred under clause (B) above with respect to an International Pension Plan, no such transfer shall occur with respect to such plan. (iii) With respect to each International Pension Plan for which International Pension Plan Assets are transferred to the Purchaser's International...
Sample 1

Related to International Pension Plans

  • Canadian Pension Plans The Loan Parties shall not (a) contribute to or assume an obligation to contribute to any Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent, or (b) acquire an interest in any Person if such Person sponsors, administers, maintains or contributes to or has any liability in respect of any Canadian Defined Benefit Plan, or at any time in the five-year period preceding such acquisition has sponsored, administered, maintained, or contributed to a Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent.

  • Municipal Pension Plan (a) An employer will provide the Municipal Pension Plan (MPP) to all eligible employees. (b) Employees of record on March 31, 2010, who meet the eligibility requirements of the MPP, have the option of joining or not joining the MPP. Eligible employees who initially elect not to join the MPP on April 1, 2010, have the right to join the MPP at any later date but will not be able to contribute or purchase service for the period waived. (c) All regular full-time employees hired after March 31, 2010, will be enrolled in the MPP upon completion of the earlier of their probationary period or three months and will continue in the plan as a condition of employment. Full-time hours of work are defined in the local issues agreement specific to each employer. Regular part-time employees and casual employees hired after April 1, 2010, who meet the eligibility requirements of the MPP have the right to enrol or not enrol in the MPP. Those who initially decline participation have the right to join the MPP at any later date. The MPP rules currently provide that a person who has completed two years of continuous employment with earnings from an employer of not less than 35% of the year's maximum pensionable earnings in each of two consecutive calendar years will be enrolled in the Plan. This rule will not apply when an eligible employee gives a written waiver to the Employer. (d) Employers will ensure that all new employees are informed of the options available to them under the MPP rules. (e) Eligibility and terms and conditions for the pension will be those contained in the Municipal Pension Plan and associated documents. (f) If there is a conflict between the terms of this agreement and the MPP rules, the MPP must prevail. Note: MPP contact information: Web: http:\\xxx.xxxxxxxxxx.xx Email: xxx@xxxxxxxxxx.xx Victoria Phone: 0-000-000-0000 BC Phone: 0-000-000-0000

  • No Pension Plans Neither the Company nor any current or past ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any Pension Plans subject to Title IV of ERISA or Section 412 of the Code.

  • International Employee Plan Each International Employee Plan has been established, maintained and administered in material compliance with its terms and conditions and with the requirements prescribed by any and all statutory or regulatory laws that are applicable to such International Employee Plan. Furthermore, no International Employee Plan has unfunded liabilities, that as of the Effective Time, will not be offset by insurance or fully accrued. Except as required by law, no condition exists that would prevent Company or Parent from terminating or amending any International Employee Plan at any time for any reason.

  • 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.

  • Retirement Plans (a) 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 (“Qualified 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, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan (a) the institution of any steps by the Borrower, any member of its Controlled Group or any other Person to terminate a Pension Plan if, as a result of such termination, the Borrower or any such member could be required to make a contribution to such Pension Plan, or could reasonably expect to incur a liability or obligation to such Pension Plan, in excess of $10,000,000; or (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 302(f) of ERISA.

  • Pension Plan Employers and/or individuals who manage, operate, assist or own, either partially or wholly, a company or companies working non-union in the construction industry on Mainland Nova Scotia within the craft jurisdiction of xxx Xxxxxxxxxx Local 83 shall not be eligible to be appointed to serve, or to continue to serve, as trustees on any trust fund referred to within this Collective Agreement. This provision shall apply to management trustees and union trustees alike. 29.01 It is agreed that the employer shall pay into the established Pension Fund an amount per hour for each hour paid as per the wage tables in Craft Schedule “A”, “B”, “S” and Appendix “MIP”. Pension contributions shall be calculated based on the base hourly rate and vacation pay, and no premium shall affect this. For the purposes of this Article, overtime rates payable in accordance with Article 16 are not premiums. Such contributions shall be paid to the Trustees of the Pension Fund on or before the fifteenth (15th) day of the month following the month such hours were worked and shall be accompanied by a remittance report form for each employee on a form prescribed by the Trustees of the Fund. Each monthly report and contributions shall include all obligations arising from hours worked up to the preceding calendar month. 29.02 It is agreed that provisions for an increase in the Pension Plan (other than those increases listed above) will be implemented if so desired by the Local, with the employer contribution to be deducted from the wages rates contained herein, provided the employer receives sixty (60) days notice of such change. 29.03 The Pension Plan shall be professionally administered. 29.04 Neither the United Brotherhood of Carpenters and Joiners of America, Local 83, nor the Nova Scotia Construction Labour Relations Association shall incur any legal liability with regard to claims arising from the Pension Plan. 29.05 Employers bound by, or subject to the Agreement, shall be required to maintain for a two (2) year period, a complete set of employment records including: • employee’s name, address, and S.I.N. • number of hours worked by the employee in each week • employee’s wage rate and gross earnings, amount(s) and description of deductions from the employee’s wages • particulars of pay allowances or other payments or benefits to which the employee is entitled.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time-to-time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time-to-time by the Company for the benefit of its senior executives, other than any annual cash incentive plan.

  • 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.

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