Plan and Trust. Employer contributions are equal to a 1 to 1 match based on an employee’s pretax contributions up to 6%. • Employer matching contributions made in non-restricted Company stock • Maximum employee deferral amount will be 60%; subject to Plan guidelines and limitations • During the term of this Agreement, the Company will maintain the current matching contribution level for the 401(k) Plan and retains the ability to change the form of match (cash or stock)
Plan and Trust. National shall provide Agent executed or adopted copies, satisfactory in all respects to Agent, of the Plan document, Trust agreement, and all amendments thereto, together with a certified copy, satisfactory in all respects to Agent, of the direction of the "Plan Administrator" (as that term is defined in Borrower's Plan document) to Borrower and/or Trustee to authorize the execution, delivery, and performance of the Loan Documents and the purchase of Twenty Nine Million Five Hundred Eighty Five Thousand Seven Hundred Ninety Eight (29,585,798) shares of common stock of National.
Plan and Trust. The provisions of the above amendment which relate to the Trustee are hereby approved and executed.
Plan and Trust. The Purchasers hereby agree to pay, indemnify and hold harmless Sellers, their directors, officers, employees, and agents and Flow's 401(k) Plan and Trust and fiduciaries thereto from and against any and all costs, losses, liabilities, damages, claims or expenses incurred by Sellers or Flow's 401(k) Plan and Trust arising out of the failure of Spider Acquisition's 401(k) Plan and Trust to satisfy the requirements of the Code and ERISA as a tax-qualified plan with a cash or deferred arrangement under Code Sections 401(a) and (k) and 501(a), as of the date assets and liabilities are transferred to Spider Acquisition's 401(k) Plan and Trust from Flow's 401(k) Plan and Trust. This agreement to indemnify and hold harmless shall not limit or supersede any other such agreements by the Purchasers under this Agreement, and shall be subject to the limits of indemnification (that is, the Indemnification Floor and Indemnification Ceiling) set forth in SECTION 6.5 of this Agreement.
Plan and Trust. 11 Effective July 1, 1999, the Company and the Union agree to provide for wage deferral for 12 employee elected contributions to the Western States Ironworkers Shopmen's 401(k) Plan and Trust 13 (the "Plan") for employees that have completed their probation period as provided in Section 16(A). 14 Providing the Plan continues IRS Section 401(a) qualification and constitutes a cash or deferred 15 amount under IRS Section 401(k), the Company will make the wage deferrals as pre-income tax 16 contributions. The Company agrees to remit to the Plan the amounts deferred from employee wages 17 within the time period provided by applicable Federal law. The Company agrees to provide such 18 wage information with respect to employees covered by this agreement as may be required by the 19 administrator of the Plan to complete any IRS requirements or other applicable law. The Union 20 warrants and represents to the Company that by entering into the Agreement the Company does not 21 become a sponsor or fiduciary of the Plan. The Union agrees to indemnify and hold harmless the 22 Company from any and all claims, including reasonable costs and attorneys' and paralegals' fees 23 through and including any appeals, by reason of administration, investments, fiduciary 24 responsibilities or operation of the Plan, or for any reason related to employee wage deferrals made 25 and contributed to the Western States Ironworkers Shopmen's 401(k) Plan and Trust. The employee 26 may change withholding only once per month following the employee's proper notice to the 27 Company of such change.
Plan and Trust. Employer contributions are equal to a 1 to 1 match based on an employee’s pretax contributions up to 6%. Commencing on January 1, 2012 the match will increase to 7%. Commencing on January 1, 2013 the match will increase to 8%. • Employer matching contributions made in non-restricted Company stock • Maximum employee deferral rate will be no less than 20%; subject to Plan guidelines and limitations • During the term of this Agreement, the Company retains the ability to change the form of match (cash or stock).
Plan and Trust at no cost to the Employer. Employees shall designate the amount to be deducted and that amount shall be shown on their pay slip. Employees may increase or decrease the percentage they contribute or stop their contributions to the Plan at any time. To make any of these changes, they must submit a new salary reduction agreement form to their Local Union and Employer at least fourteen (14) days before they want the change to be effective.
Plan and Trust. In no event later than the Distribution Date or such earlier date mutually agreed to by Compuware and Covisint (the “Implementation Date”), Covisint shall establish a defined contribution retirement plan qualified under section 401(a) of the Code that includes a cash or deferred arrangement feature under section 401(k) of the Code and establish a related trust qualified under section 501(a) of the Code to be effective immediately following the Distribution Date (the “Covisint 401(k) Plan”). Except as provided in Section 3.1(c), the Covisint 401(k) Plan’s design features shall initially be substantially comparable to the design features of the Compuware Retirement Plan as applicable to Covisint Employees immediately prior to the Distribution Date. The Parties acknowledge that, upon the Distribution Date, the Covisint Employees will experience a “severance from employment” from the Compuware controlled group of companies within the meaning of Code section 401(k)(2)(B)(i)(I) and the regulations and guidance issued thereunder such that the Covisint Employees shall be eligible to take a distribution of their vested Compuware Retirement Plan account balances in the form of a taxable distribution or a permissible rollover to another eligible retirement plan, including the Covisint 401(k) Plan.
Plan and Trust. The Xxxxxxx & Xxxxx, Incorporated 401(k) Plan and Trust is hereby adopted by the Participating Group described below, effective as of the date indicated and subject to the special matching employer contribution election under this Plan and, if applicable, the special vesting and/or Code Section 411(d)(6) protected benefits listed below. The Participating Group agrees to be bound by the terms and provisions of the Plan and Trust as currently in effect and as amended from time to time. List, unless all of the Eligible Employees of the Employer will be entitled to become participants in this Plan: EFFECTIVE DATE OF PARTICIPATION:* SPECIAL MATCHING EMPLOYER CONTRIBUTION ELECTION(S): The following Retirement K Matching Contribution provisions, as per Section 20.4 of the Plan, ☐ shall / ☐ shall not apply for employees in this Participating Group who are eligible for such Retirement K Matching Contributions. If applicable, such Retirement K Matching Contributions will apply to Salary Deferral Contributions on up to the first 6% of Compensation* in accordance with the following schedule: * In general, compensation for 401(k) salary reduction contribution purposes means the total cash compensation for each pay period that will be reported on a Participant’s U.S. Treasury Department W-2 form as wages, plus any pre-tax elective contributions to this Plan or certain other plans, as set forth in the definition of “Pay” in the Plan. Age as of December 31, 2006 Retirement K Matching Contribution Percentage 55 and older 80 % 45 to 54 60 % 35 to 44 40 % 34 and younger 20 % OTHER MATCHING EMPLOYER CONTRIBUTION ELECTION(S): The following Matching Employer Contribution provisions shall apply to this Participating Group: ☐ No Matching Employer Contribution* ☐ 50 cents for each $1.00 of each Participant’s Salary Deferral Contributions, up to 6% of his/her Compensation*
Plan and Trust. Effective as of the Payroll Date, Chahaya shall establish, or cause to be established, a separate retirement benefits plan and trust, which plan is intended to be qualified under Code Section 401(a), which trust is intended to be exempt from federal income taxation under Code Section 501(a)(1), and forming the Chahaya Section 401(k) Plan.
