Other Welfare and Nonqualified Pension Plans Sample Clauses

Other Welfare and Nonqualified Pension Plans. As of the Reorganization Date and continuing through the Distribution Date, Freescale shall adopt and maintain Motorola’s (i) welfare plans (as defined in Section 3(1) of ERISA and including but not limited to the life insurance supplemental life insurance, accidental death and dismemberment insurance, long- and short-term disability, severance and tuition reimbursement plans) not already covered in Sections 2.8 and 2.10 above, and (ii) pension plans (as defined in Section 3(2) of ERISA) which are not intended to be tax-qualified under Section 401(a) of the Code, for the benefit of its eligible employees, and Motorola shall consent thereto, all in accordance with the terms of those plans. Immediately prior to the Distribution Date, all U.S. Transferred Employees and other Freescale employees who participate in any of said other welfare plans or non-qualified pension plans shall cease to participate in those plans; and distribution of any benefits to which they are entitled under those non-qualified pension plans shall be made at the time and in the manner provided under those plans.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Other Welfare and Nonqualified Pension Plans. During the period commencing on the Closing Date and continuing until the Transition Date, FNT shall participate in FNF's (i) employee welfare benefit plans (as defined in Section 3(1) of ERISA and including, but not limited to, the life insurance, dependent life insurance, accidental death and dismemberment insurance, long- and short-term disability insurance, business travel accident insurance, vision care, employee assistance, retiree life and medical insurance, long-term care insurance, and legal assistance plans) not already covered in Section 2.2 and 2.3 above, and (ii) employee pension benefit plans (as defined in Section 3(2) of ERISA) that are not intended to be tax-qualified under Section 401(a) of the Code, for the benefit of eligible employees of the FNT Group, and FNF shall consent thereto, all in accordance with the terms of those plans. FNT (or the applicable FNT Group Member) shall continue to timely pay to FNF or the applicable FNF Group Plans its portion of employer expenses with respect to the welfare plans and non-qualified plans described in this Section 2.4 (and/or any related trusts) in accordance with the applicable cost allocation method in effect immediately prior to the Closing Date (or such other method as may be agreed to by the Parties). Immediately prior to the Transition Date, all U.S. Employees who participate in any of said welfare plans or non-qualified plans shall cease to participate in those plans, and distribution of any benefits to which they are entitled under those non-qualified plans shall be made at the time and in the manner provided under those plans.
Sample 1Sample 2
Other Welfare and Nonqualified Pension Plans. As of the IPO Date and continuing until the Distribution Date (or such earlier date agreed to by the Parties), FIS shall participate in FNF's (i) employee welfare benefit plans (as defined in Section 3(1) of ERISA and including, but not limited to, the life insurance, dependent life insurance, accidental death and dismemberment insurance, long- and short-term disability insurance, business travel accident insurance, vision care, employee assistance, retiree life and medical insurance, long-term care insurance, and legal assistance plans) not already covered in Sections 2.5 and 2.7 above, and (ii) employee pension benefit plans (as defined in Section 3(2) of ERISA) that are not intended to be tax-qualified under Section 401(a) of the Code, for the benefit of eligible employees of the FIS Group, and FNF shall consent thereto, all in accordance with the terms of those plans. Immediately prior to the Distribution Date (or such earlier date agreed to by the Parties, as described above), all U.S. employees of the FIS Group who participate in any of said other welfare plans or non-qualified plans shall cease to participate in those plans, and distribution of any benefits to which they are entitled under those non-qualified plans shall be made at the time and in the manner provided under those plans.
Sample 1

Related to Other Welfare and Nonqualified Pension Plans

  • Deferred Compensation Plans Borrower has no pension, profit sharing or other compensatory or similar plan (herein called a “Plan”) providing for a program of deferred compensation for any employee or officer. No fact or situation, including but not limited to, any “Reportable Event,” as that term is defined in Section 4043 of the Employee Retirement Income Security Act of 1974 as the same may be amended from time to time (“Pension Reform Act”), exists or will exist in connection with any Plan of Borrower which might constitute grounds for termination of any Plan by the Pension Benefit Guaranty Corporation or cause the appointment by the appropriate United States District Court of a Trustee to administer any such Plan. No “Prohibited Transaction” within the meaning of Section 406 of the Pension Reform Act exists or will exist upon the execution and delivery of the Agreement or the performance by the parties hereto of their respective duties and obligations hereunder. Borrower will (1) at all times make prompt payment of contributions required to meet the minimum funding standards set forth in Sections 302 through 305 of the Pension Reform Act with respect to each of its Plans; (2) promptly, after the filing thereof, furnish to Agent copies of each annual report required to be filed pursuant to Section 103 of the Pension Reform Act in connection with each Plan for each Plan Year, including any certified financial statements or actuarial statements required pursuant to said Section 103; (3) notify Agent immediately of any fact, including, but not limited to, any Reportable Event arising in connection with any Plan which might constitute grounds for termination thereof by the Pension Benefit Guaranty Corporation or for the appointment by the appropriate United States District Court of a Trustee to administer the Plan; and (4) notify Agent of any “Prohibited Transaction” as that term is defined in Section 406 of the Pension Reform Act. Borrower will not (a) engage in any Prohibited Transaction or (b) terminate any such Plan in a manner which could result in the imposition of a Lien on the Property of Borrower pursuant to Section 4068 of the Pension Reform Act.

  • Pension Benefit Plans All Pension Benefit Plans maintained by each Covered Person or an ERISA Affiliate of such Covered Person qualify under Section 401 of the Code and are in compliance with the provisions of ERISA to the extent ERISA is applicable and all other Material Laws. Except with respect to events or occurrences which do not have and are not reasonably likely to have a Material Adverse Effect on any Covered Person, and to the extent ERISA is applicable to any such Pension Benefit Plans:

  • Nonqualified Deferred Compensation Plans Effective on or before the Distribution Date, Columbia shall adopt, establish and maintain nonqualified deferred compensation plans for the benefit of employees of the Columbia Parties (the “Columbia Deferred Compensation Plans”) and shall establish one or more grantor trusts to be a source of providing benefits thereunder (the “Columbia Rabbi Trusts”) that in each case shall be substantially similar to the NiSource Deferred Compensation Plans and the grantor trusts maintained by NiSource with respect to the NiSource Deferred Compensation Plans (the “NiSource Rabbi Trusts”). As of the Distribution Date, the Columbia Parties shall assume and thereafter be solely responsible for all existing and future liabilities relating to Business Employees’ (and Deceased Business Employee survivors’ and beneficiaries’) (a) benefits accrued under the NiSource Deferred Compensation Plans prior to the Distribution Date and (b) benefits that accrue under the Columbia Deferred Compensation Plans on and after the Distribution Date. All beneficiary designations made by Business Employees and by survivors and beneficiaries of Deceased Business Employees under the NiSource Deferred Compensation Plans shall, to the extent applicable, be transferred to, and be in full force and effect under, the Columbia Deferred Compensation Plans until such beneficiary designations are replaced or revoked by the Business Employee (or the survivor or beneficiary of the Deceased Business Employee) who made the beneficiary designation. Following the Distribution Date, the NiSource Parties shall have no liability or obligation with respect to the benefits accrued by such Business Employees or by such survivors or beneficiaries of Deceased Business Employees under any of the NiSource Deferred Compensation Plans or with respect to any benefits accrued under the Columbia Deferred Compensation Plans. As soon as administratively practicable after the Distribution Date, NiSource shall cause the NiSource Rabbi Trusts to transfer to the Columbia Rabbi Trusts cash, life insurance policies or other assets having an aggregate fair market value equal to (i) the aggregate fair market value of all assets held in the NiSource Rabbi Trusts as of the Distribution Date multiplied by (ii) a percentage, the numerator of which shall be the lump sum present value of the benefits assumed by the Columbia Deferred Compensation Plans pursuant to this Section 3.03 and the denominator of which shall be the lump sum present value of all benefits accrued under the NiSource Deferred Compensation Plans immediately prior to the Distribution Date.

  • Retirement, Welfare and Fringe Benefits During the Period of Employment, the Executive shall be entitled to participate in all employee pension and welfare benefit plans and programs, and fringe benefit plans and programs, made available by the Company to the Company’s employees generally, in accordance with the eligibility and participation provisions of such plans and as such plans or programs may be in effect from time to time.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, the 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, the 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.

  • 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.

  • Pension Benefits In addition to the benefits to which the Executive is entitled under any pension or retirement plan or arrangement established by the Corporation:

  • 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.

  • Deferred Compensation Upon the consummation of the Initial Business Combination, the Company will cause the Trustee to pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of the Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the time period prescribed in the Amended and Restated Certificate of Incorporation, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the Public Stockholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount.

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan:

Time is Money Join Law Insider Premium to draft better contracts faster.