Other Benefit Matters. (a) Nothing contained herein will in any way alter the right of Parent or HY, before or after the Spin-Off Date, to amend or terminate any Parent Benefit Plan or HY Benefit Plan, as applicable, in accordance with its terms and applicable Law.
Other Benefit Matters. (a) Nothing contained herein will in any way alter the right of Parent or Xxxxxxxx Beach Holding or any of their respective Subsidiaries, before or after the Spin-Off Date, to amend or terminate any Parent Benefit Plan or HBH Benefit Plan, as applicable, in accordance with its terms and applicable Law or to terminate the employment or service of any person at any time in accordance with applicable Law. Nothing contained herein will be construed to create any third-party beneficiary rights in any person, including without limitation any Parent Participant or HBH Participant (including any dependent or beneficiary thereof) nor will anything contained herein be deemed to amend any Parent Benefit Plan or HBH Benefit Plan.
Other Benefit Matters. (a) The parties agree that, before the Effective Time, the CB Bancshares Board shall adopt the proposed CB Bancshares, Inc. Severance Pay Plan substantially in the form Previously Disclosed. Upon and after the Effective Time, Central Pacific shall assume and honor the Severance Pay Plan for a period of at least two years in accordance with its terms as they exist immediately prior to the Effective Time. During such two-year period, the employees of CB Bancshares and its Subsidiaries shall not participate in any severance plan of the Surviving Corporation.
Other Benefit Matters. The Transferred Employees shall cease to accrue benefits under all Employee Plans of the Vendors effective as of the Closing Date, except as otherwise required under any Collective Bargaining Agreement.
Other Benefit Matters. Except as set forth on Section 6.05(d) of the Seller Disclosure Letter, the Seller and its Affiliates (other than the Company) shall assume and retain the sponsorship of and be solely responsible for all liabilities relating to or at any time arising under or in connection with or pursuant to any Benefit Plan or any other benefit or compensation plan, program, policy, agreement or arrangement of any kind at any time maintained, sponsored, contributed to or required to be contributed to by the Seller or any of its Affiliates (including the Company) or under or in connection with which the Seller or any of its Affiliates (including the Company) has any liability. The Seller will be solely responsible for complying with the requirements of Section 4980B of the Code with respect to any “M&A qualified beneficiary” as that term is defined in Treasury Regulation Section 54.4980B-9. With respect to any Benefit Plan that is a Pension Plan, the Seller shall take all actions necessary or appropriate to, effective as of the Closing Date, (x) cause all Continuing Employees who participate in any such Benefit Plan to be fully vested in their account balances under such plan, and (y) make all employer contributions that would have been made on behalf of such Continuing Employees had the Transactions not occurred, regardless of any service or end of year employment requirements, but prorated for the portion of the plan year that ends on the Closing Date.
Other Benefit Matters. 37 Section 8.11 Warranty or Other Work..............................................................38 Section 8.12 No Public Announcement..............................................................39 Section 8.13
Other Benefit Matters. As a result of Employee’s termination of employment, please note the following: • Flexible Spending Account (FSA). Employee can submit claims for FSA-eligible expenses incurred through the Termination Date. Claims must be submitted within 90 days from the Termination Date. Healthcare FSAs may be continued through COBRA on a post-tax basis. Dependent Care Accounts are not eligible for continuation upon termination of employment. If Employee is enrolled in a Healthcare FSA, the COBRA notification will be mailed directly to Employee from Discovery Benefits. If Employee wants to accept coverage, Employee must complete, sign and mail the application form to Discovery Benefits within 60 days of the Termination Date. • 401(k) Plan. Assuming it exceeds $5,000, Employee’s account balance in Qorvo’s 401(k) Plan may remain in such Plan or be transferred to another qualified plan or XXX at Employee’s election. To transfer your account balance to another qualified plan or XXX or to obtain a distribution from the account, you should visit Fidelity’s website at xxx.000x.xxx or call the Fidelity Retirement Benefits Line at 0-000-000-0000. Outstanding loans against Employee’s 401(k) Plan balance must be repaid within 30 days of the Termination Date.
Other Benefit Matters. (a) Flexible Time Off Flexible Time Off (FTO) hours are accrued each bi-weekly pay period. These hours provide compensated time off for vacation, personal illness, illness of a family member or other personal business. The accrual rate is based on length of service. Executive shall, beginning on the Date of Hire, accrue FTO at the rate of 4.62 hours per bi-weekly pay period (120 hours per year). In addition, beginning on the Date of Hire and on each of the first four anniversaries of the Date of Hire thereafter, Executive shall be front loaded one additional week of FTO. The combined front loaded and accrued FTO shall equal four weeks annually (160 hours per year).
Other Benefit Matters. The following, which is provided for information purposes only, is a summary of certain benefits that may be available to Employee as a result of Employee’s retirement:
Other Benefit Matters. (a) Nothing contained herein will in any way alter the right of Parent or HY, before or after the Spin-Off Date, to amend or terminate any Parent Benefit Plan or HY Benefit Plan, as applicable, in accordance with its terms and applicable Law. (b) On or before the Spin-Off Date, Parent and HY agree that (i) they will take such actions as they determine are necessary and advisable to establish separate administrative services agreements and funding vehicles for the HY Benefit Plans (including the NMHG Pension Plan) and Parent Benefit Plans and/or to provide for transitional services related thereto and (ii) they will use reasonable, good faith efforts to cooperate with each other and take such steps as are necessary and advisable to implement the actions described in this Article III. 8 (c) After the Spin-Off Date, Parent and HY will continue to cooperate in good faith and share (to the extent permissible under applicable privacy/data protection laws) all relevant documents, payroll and employment information as needed with respect to the continued administration of the HY Benefit Plans (and the NMHG Pension Plan) and the Parent Benefit Plans; provided that requests for cooperation must be reasonable and not interfere with daily business operations. IV.
