No Impact on Employee Benefits Sample Clauses

No Impact on Employee Benefits. This Agreement does not affect any right or 20 obligation under any benefits plan. No payment made under this Agreement shall be considered as 21 compensation or hours worked or hours paid for purposes of determining eligibility, vesting, 22 participation, or contributions with respect to any employee benefit plan. For purposes of this Agreement, 23 the term “employee benefit plan” means every “employee benefit plan,” as defined in the Employee 24 Retirement and Income Security Act of 1974, 29 U.S.C. section 1002(3). The term also includes any 25 401(k) plan, bonus, pension, stock option, stock purchase, stock appreciation, welfare, profit sharing, 26 retirement, disability, vacation, severance, hospitalization, insurance, incentive, deferred compensation, 27 or any other similar benefit plan, practice, program, or policy, regardless of whether any such plan is 28 considered an employee benefit plan.
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No Impact on Employee Benefits. This Agreement does not affect any right or obligation 23 under any benefits plan. No payment made under this Agreement shall be considered as compensation or 24 hours worked or hours paid for purposes of determining eligibility, vesting, participation, or contributions 25 with respect to any employee benefit plan. For purposes of this Agreement, the term “employee benefit 26 plan” means every “employee benefit plan,” as defined in the Employee Retirement and Income Security 27 Act of 1974, 29 U.S.C. section 1002(3). The term also includes any 401(k) plan, bonus, pension, stock 28 option, stock purchase, stock appreciation, welfare, profit sharing, retirement, disability, vacation, 1 severance, hospitalization, insurance, incentive, deferred compensation, or any other similar benefit plan, 2 practice, program, or policy, regardless of whether any such plan is considered an employee benefit plan. 3 10.7. No Prior Assignments or Undisclosed Liens. The Class Representative and Class 4 Counsel represent that they have not assigned, transferred, conveyed, or otherwise disposed of any 5 Released Claim or claim to attorneys’ fees and costs award to be paid under this Agreement. The Class 6 Representative and Class Counsel further represent and warrant that there are not any liens or claims 7 against any amount that Defendant is to pay under this Agreement. The Class Representative and Class 8 Counsel agree to defend, to indemnify, and to hold Defendant harmless from any liability, losses, claims, 9 damages, costs, or expenses, including reasonable attorneys’ fees, resulting from a breach of these 10 representations or from any lien or assignment. Nothing herein is intended to constitute legal advice 11 regarding the taxability of any amount paid pursuant to this Agreement, nor may it be relied upon as such. 12 10.8. Cooperation of the Parties. The Parties will comply with the covenants of good faith and 13 fair dealing and otherwise cooperate as follows.
Sample 1

Related to No Impact on Employee Benefits

  • Employee Benefits During the Employment Term, Executive will be entitled to participate in the employee benefit plans currently and hereafter maintained by the Company of general applicability to other senior executives of the Company. The Company reserves the right to cancel or change the benefit plans and programs it offers to its employees at any time.

  • Employee Benefit Plans Except as could not reasonably be expected to result, either individually or in the aggregate, in a Material Adverse Effect, (i) each Employee Benefit Plan and Foreign Pension Plan (and each related trust, insurance contract or fund) has been documented, funded and administered in compliance with all applicable Laws, including, without limitation, ERISA and the Code; (ii) the sponsor or adopting employer of each Employee Benefit Plan which is intended to qualify under Section 401(a) of the Code has received or timely applied for a favorable determination letter, or is entitled to rely on a favorable opinion letter, as applicable, from the IRS indicating that such Employee Benefit Plan is so qualified and nothing has occurred subsequent to the issuance of such determination letter or opinion letter which would cause such Employee Benefit Plan to lose its qualified status; (iii) no liability to the PBGC (other than required premium payments), the IRS, any Employee Benefit Plan or any Trust established under Title IV of ERISA has been or is expected to be incurred by any ERISA Party (other than contributions made to an Employee Benefit Plan or such Trust or expenses paid on their behalf, in each case in the ordinary course); (iv) no ERISA Event has occurred or is reasonably expected to occur; (v) the present value of the aggregate benefit liabilities under each Pension Plan (determined as of the end of the most recent plan year on the basis of the actuarial assumptions specified for funding purposes in the most recent actuarial valuation for such Pension Plan) did not exceed the aggregate current value of the assets of such Pension Plan; (vi) no ERISA Party is in “default” (as defined in Section 4219(c)(5) of ERISA) with respect to payments to a Multiemployer Plan; (vii) no ERISA Party has incurred any obligation in connection with the termination of, or withdrawal from, any Foreign Pension Plan; and (viii) the present value of the accrued benefit liabilities (whether or not vested) under each Foreign Pension Plan, determined as of the end of Holdings’ and the Borrowers’ most recently ended Fiscal Year for which audited financial statements are available on the basis of the actuarial assumptions described in Holdings’ audited financial statements for such Fiscal Year, did not exceed the aggregate of (A) the current value of the assets of such Foreign Pension Plan allocable to such benefit liabilities and (B) the amount then reserved on Holdings’ consolidated balance sheet in respect of such liabilities (and such amount reserved on Holdings’ consolidated balance sheet does not constitute a material liability to Holdings and its Restricted Subsidiaries taken as a whole).

  • Extended Health Benefit Plan (a) All regular and probationary employees after three (3) months employment will be covered by a one hundred percent (100%) Extended Health Benefit Plan with the standard $100.00 deductible. The City will pay eighty percent (80%) of the costs and the twenty percent (20%) deduction for employees shall be made through payroll deductions. The extended health lifetime maximum will be $1,000,000.

  • No Employee Benefits For Party The Party understands that the State will not provide any individual retirement benefits, group life insurance, group health and dental insurance, vacation or sick leave, workers compensation or other benefits or services available to State employees, nor will the State withhold any state or Federal taxes except as required under applicable tax laws, which shall be determined in advance of execution of the Agreement. The Party understands that all tax returns required by the Internal Revenue Code and the State of Vermont, including but not limited to income, withholding, sales and use, and rooms and meals, must be filed by the Party, and information as to Agreement income will be provided by the State of Vermont to the Internal Revenue Service and the Vermont Department of Taxes.

  • Retiree Health Insurance Retired members of the Department receiving, or to receive City of Lincoln monthly pension checks, may participate in the group comprehensive health care plan for active City employees, provided that each retiree so desiring will execute the required forms in a timely fashion, and further provided that each retiree will be required to pay the full monthly cost at the current rates subject to any rate increases which may occur from time to time. Such payment will be made by payroll deduction from pension checks, or by direct payment in the case of an early retiree.

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