Non-Qualified Plans Sample Clauses
A Non-Qualified Plans clause defines the terms and conditions for retirement or deferred compensation plans that do not meet the requirements of the Employee Retirement Income Security Act (ERISA) or the Internal Revenue Code for tax-favored status. These plans are typically offered to select executives or key employees and may include arrangements such as supplemental executive retirement plans (SERPs) or deferred compensation agreements. The clause outlines eligibility, contribution limits, and distribution rules, which are generally more flexible but do not provide the same tax advantages or protections as qualified plans. Its core function is to allow employers to offer additional, customizable compensation benefits to certain employees outside the strict regulatory framework of qualified retirement plans.
Non-Qualified Plans. Non-Qualified Plans" means the Company's Supplemental Retirement Plan in existence as of the date hereof, and any other unfunded, non-qualified, deferred compensation, incentive compensation or retirement plan adopted by the Company subsequent to the date hereof, and/or any successor plan or plans.
Non-Qualified Plans. (a) Effective as of the Distribution Date, ▇▇▇▇▇▇ shall have in effect the ▇▇▇▇▇▇ BEP-SIP and the Zimmer BEP-RIP which shall provide benefits to Active Zimmer Employees who are participating in the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb BEP-SIP and the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb BEP-RIP prior to the Distribution Date. ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb shall retain responsibility for all benefits accrued prior to the Distribution Date by Active and Former Zimmer Employees under (i) the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb BEP-RIP and (ii) the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb Key International Pension Plan.
(b) The ▇▇▇▇▇▇ BEP-SIP shall provide those Active Zimmer Employees who are participating before the Distribution Date in the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb BEP-SIP with account balances under the Zimmer BEP-SIP equal to the account balances of the Active Zimmer Employees under the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb BEP-SIP as of the Distribution Date. Active Zimmer Employees shall receive credit for service with the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb Group and the ▇▇▇▇▇▇ Group prior to the Distribution Date for all purposes under the Zimmer BEP-SIP, including for purposes of eligibility, vesting and benefit accrual, to the extent that the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb BEP-SIP gives employees credit for such service. All Active Zimmer Employees shall have a fully vested interest in their accounts under the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb BEP-SIP that are transferred to the Zimmer BEP-SIP as of the Distribution Date. Zimmer shall assume and be responsible for paying all benefits accrued by Active Zimmer Employees under the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb BEP-SIP before, on and after the Distribution Date.
(c) ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb will provide early retirement subsidies under the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb BEP-RIP to the following categories of Active Zimmer Employees as of the Distribution Date: (i) Active Zimmer Employees who have attained age 55 and have at least 10 years of service (as defined in the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb Retirement Income Plan) with the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb Group and the ▇▇▇▇▇▇ Group as of the day before the Distribution Date; (ii) Active Zimmer Employees who are age 50-54 and have at least 10 years of service (as defined in the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb Retirement Income Plan) with the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb Group and the ▇▇▇▇▇▇ Group as of the day before the Distribution Date; and (iii) Active Zimmer Employees whose age, plus years of service measured in years, months and days of completed service with the ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb Group and the ▇▇▇▇▇▇ Group, equals at least 70 as of ...
Non-Qualified Plans. “Non-Qualified Plans” when immediately preceded by “ BMS,” means the BMS BEP-RIP, the BMS BEP-SIP, the BMS Deferred Compensation Plan, and any other deferred compensation or excess benefit plan, program or arrangement maintained by BMS for the benefit of employees and retirees of the BMS Group. When immediately preceded by “▇▇▇▇ ▇▇▇▇▇▇▇,” “Non-Qualified Plan” means the excess benefit plans, programs, or arrangements to be established by ▇▇▇▇ ▇▇▇▇▇▇▇ pursuant to Section 2.2 to assume the Liabilities of ▇▇▇▇ ▇▇▇▇▇▇▇ Transferred Employees that were accrued under the applicable BMS Non-Qualified Plan prior to the Separation Date in accordance with Article VII.
Non-Qualified Plans. Non-Qualified Plans" when immediately preceded ------------------- by "HP," means the HP Excess Benefit Plan, the HP Executive Deferred Compensation Plan, and the HP Officers Early Retirement Plan. When immediately preceded by "Agilent," "Non-Qualified Plan" means the deferred compensation and excess benefit plans, programs, or arrangements to be established by Agilent pursuant to Section 2.2 and Article V.
Non-Qualified Plans. Following the Effective Date, Communications Employees who are eligible shall continue to participate in Will▇▇▇▇ ▇▇▇plemental Retirement Plan (the "Will▇▇▇▇ ▇▇▇toration Plan") through December 31, 2000. As soon as practicable following the Effective Date, and in any event no later than January 1, 2000, Communications shall establish a benefit restoration plan (the "Communications Restoration Plan") relating to the Will▇▇▇▇ ▇▇▇sion Plan for the benefit of the Communications Employees who were, immediately prior to January 1, 2000, participating in the Will▇▇▇▇ ▇▇▇toration Plan or who become eligible for participation in the Communications Restoration Plan on or after January 1, 2000. As of the Effective Date, Communications shall assume and be solely responsible for the liabilities and obligations relating to the Communications Employees arising under the Will▇▇▇▇ ▇▇▇toration Plan.
Non-Qualified Plans. Non-Qualified Plans," when immediately preceded by "Southern," means the Southern Supplemental Benefit Plan, the Southern SERP and the Southern Deferred Compensation Plan. When immediately preceded by "Southern Energy," "Non-Qualified Plans" means the deferred compensation, supplemental executive retirement and supplemental benefit plans, programs, or arrangements established or to be established by Southern Energy pursuant to Section 2.02 and Article V.
Non-Qualified Plans. The Executive will participate in the Company’s Non-Qualified Pension Plan (the “Non-Qualified Plan”) and Non-Qualified CRISP Plan (“Non-Qualified CRISP Plan”). For purposes of the Non-Qualified Plan, except as set forth below, years of service for purposes of calculating benefits will be credited at a three-for-one rate until Executive has service credit of thirty years, and Executive’s benefits thereunder shall be determined using the prior benefit formula as in effect under the qualified pension plan during 2004 (described as Option (A) in the Company’s August 2008 Proxy Statement). Notwithstanding the foregoing, (x) in the event of voluntary termination or retirement prior to attainment of age 60, a crediting rate of two-for-one shall apply in lieu of the three-for-one rate, and (y) the Board must approve a voluntary termination or retirement before November 7, 2010 and, in the event of such termination or retirement without approval by the Board, the Executive will not be entitled to any benefits under the Non-Qualified Plan or the Non-Qualified CRISP Plan. In the event of termination for “Cause”, the Executive will not be entitled to any benefits under the Non-Qualified Plan or the Non-Qualified CRISP Plan.
Non-Qualified Plans. Following the Closing Date, Buyer shall cause DPC to continue to maintain its Pension Restoration Plan, Retirement Restoration Plan and Supplemental Retirement Income Plan with respect to Transferred Employees. Buyer and DPC shall assume and be solely responsible for the liabilities and obligations relating to the Transferred Employees who participate in the DuPont 401(k) Restoration Plan.
Non-Qualified Plans. 7 Section 3.1 Deferred Compensation Plan..........................................................7 Section 3.2 SERP................................................................................7
Non-Qualified Plans. 8 1.66 Non-U.S. Plan............................................................................ 8 1.67 Option................................................................................... 9 1.68 Outsource................................................................................ 9 1.69