Nonqualified Savings Plans Sample Clauses

Nonqualified Savings Plans. Rockwell will retain all Liabilities for and will pay when due all benefits accrued as of the Time of Distribution by, and attributable to, Conexant Employees under the Rockwell International Corporation Supplemental Savings Plan for Highly Compensated Employees and the Rockwell International Corporation Excess Benefit Savings Plan, in each case as amended through the Time of Distribution (collectively, the "Rockwell Nonqualified Savings Plans"). From and after the Time of Distribution, none of Rockwell or the Rockwell Subsidiaries, the Affiliates of any thereof or the Rockwell Nonqualified Savings Plans will have any Liabilities with respect to benefits and entitlements of Conexant Employees under the Rockwell Nonqualified Savings Plans, except with respect to benefits accrued (including earnings thereon) under the Rockwell Nonqualified Savings Plans prior to the Time of Distribution. Rockwell will retain full power and authority with respect to the amendment and termination of the Rockwell Nonqualified Savings Plans to the extent permitted by law.
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Nonqualified Savings Plans. Effective as of the Time of Contribution, Newco shall assume liability for and shall pay when due all benefits accrued as of the Time of Contribution (including, in the case of Company Group Continuing Employees and, if any, Company Group Former Employees, such individuals' vested and nonvested benefits which are accrued as of the Time of Contribution) by, and attributable to, all employees and former employees of the Company and its Subsidiaries under the Rockwell International Corporation Supplemental Savings Plan for Highly Compensated Employees and the Rockwell International Corporation Excess Benefit Savings Plan (the "Nonqualified Savings Plans"), and shall perform, pay and discharge fully all of the Company's and its Subsidiaries' duties, liabilities or obligations thereunder with respect thereto. Effective as of the Time of Contribution, Newco shall cause each Company Group Continuing Employee and Company Group Former Employee to have a fully nonforfeitable right to such individual's entire account balance, if any, under the Nonqualified Savings Plans.
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Nonqualified Savings Plans. Rockwell will retain all Liabilities for and will pay when due all benefits accrued as of the Time of Distribution by,
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Nonqualified Savings Plans. 21 Section 4.04 Canadian Non-Automotive Savings Plans ................ 22
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Nonqualified Savings Plans. As Xxxxxxx will continue as an employee of Interface and his anticipated level of service will remain as of the Effective Date above 20% of the Average Trailing 36-Month Level, he will not have a termination of employment for purposes of the Nonqualified Savings Plan I nor will he have a “separation from service” as such term is defined, for purposes of Code Section 409A, in the Nonqualified Savings Plan II. Therefore, his participation in those plans will continue, subject to the terms of such plans.
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Nonqualified Savings Plans. (a) Rockwell will retain all Liabilities for and will pay when due all benefits accrued as of the Time of Distribution by, and attributable to, Automotive Employees under the Rockwell International Corporation Supplemental Savings Plan for Highly Compensated Employees and the Rockwell International Corporation Excess Benefit Savings Plan, in each case as amended through the Time of Distribution (collectively, the "Rockwell Nonqualified Savings Plans"). From and after the Time of Distribution, none of Rockwell or the Rockwell Subsidiaries, the Affiliates thereof or the Rockwell Nonqualified Savings Plans will have any Liabilities with respect to benefits and entitlements of Automotive Employees under the Rockwell Nonqualified Savings Plans, except with respect to benefits accrued (including earnings thereon) under the Rockwell Nonqualified Savings Plans prior to the Time of Distribution. (b) As of the Time of Distribution, Automotive will have established and will cover Automotive Employees who participated in the Rockwell Nonqualified Savings Plans immediately prior to the Time of Distribution under nonqualified savings plans (the "Automotive Nonqualified Savings Plans"). The Automotive Nonqualified Savings Plans will be substantially similar in all material respects to the Rockwell Nonqualified Savings Plans. The Automotive Nonqualified Savings Plans will be maintained in such form for a period of at least one year following the Time of Distribution. The Automotive Nonqualified Savings Plans will credit each Automotive Employee for purposes of eligibility to participate and for vesting purposes with all service which had been credited to such Automotive Employee for such purposes under the Rockwell Nonqualified Savings Plans immediately prior to the Time of Distribution (excluding any such service which was not counted under the Rockwell Nonqualified Savings Plans by operation of their "break in service" rules), but shall not grant past service credit to Automotive Employees for benefit accruals and any other plan purposes.
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Related to Nonqualified Savings Plans

  • Nonqualified Deferred Compensation (a) It is intended that any payment or benefit which is provided pursuant to or in connection with this Agreement which is considered to be deferred compensation subject to Section 409A of the Code shall be paid and provided in a manner, and at such time and form, as complies with the applicable requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided therein for non-compliance. (b) Neither Company nor Executive shall take any action to accelerate or delay the payment of any monies and/or provision of any benefits in any manner which would not be in compliance with Section 409A of the Code (including any transition or grandfather rules thereunder). (c) Because Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, any payments to be made or benefits to be delivered in connection with Executive’s “Separation from Service” (as determined for purposes of Section 409A of the Code) that constitute deferred compensation subject to Section 409A of the Code shall not be made until the earlier of (i) Executive’s death or (ii) six months after Executive’s Separation from Service (the “409A Deferral Period”) as required by Section 409A of the Code. Payments otherwise due to be made in installments or periodically during the 409A Deferral Period (“Delayed Payments”) shall be accumulated and paid in a lump sum as soon as the 409A Deferral Period ends, and the balance of the payment shall be made as otherwise scheduled. Any such benefits subject to the rule may be provided under the 409A Deferral Period at Executive’s expense, with Executive having a right to reimbursement from Company once the 409A Deferral Period ends, and the balance of the benefits shall be provided as otherwise scheduled. Any Delayed Payments shall bear interest at the United States 5-year Treasury Rate plus 2%, which accumulated interest shall be paid to Executive as soon as the 409A Deferral Period ends. (d) For purposes of this Agreement, all rights to payments and benefits hereunder shall be treated as rights to receive a series of separate payments and benefits to the fullest extent allowed by Section 409A of the Code. (e) Notwithstanding any other provision of this Agreement, neither Company nor its subsidiaries or affiliates shall be liable to Executive if any payment or benefit which is to be provided pursuant to this Agreement and which is considered deferred compensation subject to Section 409A of the Code otherwise fails to comply with, or be exempt from, the requirements of Section 409A of the Code.

  • Nonqualified Stock Options If the Shares are held for more than twelve (12) months after the date of purchase of the Shares pursuant to the exercise of an NQSO, any gain realized on disposition of the Shares will be treated as long term capital gain.

  • Nonqualified Stock Option The Option is a nonqualified stock option and is not, and shall not be, an incentive stock option within the meaning of Section 422 of the Code.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Nonqualified Distributions If you do not meet the requirements for a qualified distribution, any earnings you withdraw from your Xxxx XXX will be included in your gross income and, if you are under age 59½, may be subject to an early distribution penalty tax. However, when you take a distribution, the amounts you contributed annually to any Xxxx XXX and any military death gratuity or Servicemembers’ Group Life Insurance (SGLI) payments that you rolled over to a Xxxx XXX, will be deemed to be removed first, followed by conversion and employer-sponsored retirement plan rollover contributions made to any Xxxx XXX on a first-in, first-out basis. Therefore, your nonqualified distributions will not be taxable to you until your withdrawals exceed the amount of your annual contributions, military death gratuity or SGLI payments and your conversions and employer-sponsored retirement plan rollovers.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • 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.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such 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.

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