Plan Termination by Adopting Employer Sample Clauses

Plan Termination by Adopting Employer. Although the Adopting Employer expects the Plan to be maintained for an indefinite time, the Adopting Employer reserves the right to terminate the Plan and/or or any portion thereof at any time. In the event of the dissolution, merger, consolidation, or reorganization of the Adopting Employer, the Plan shall terminate unless the Plan is continued by a successor to the Adopting Employer in accordance with the resolution of such successor's Managing Body. Such termination shall not affect any right to benefits that accrued prior to such termination. Such action shall be made in writing and shall be delivered promptly to the Claims Administrator and Plan Administrator and, as applicable, to the Trustee.
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Related to Plan Termination by Adopting Employer

  • Benefits Upon Plan Termination In the event this Long-Term Disability Plan is terminated, the benefit payments shall continue to be paid in accordance with the provisions of this Plan to disabled employees who became disabled while covered by this Plan prior to its termination.

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

  • Termination by Participant Participant may terminate the Agreement as follows:

  • Benefit Termination Any employee terminating employment shall be entitled to receive the District insurance contribution for the remainder of the calendar month in which the contribution is effective. In cases where separation occurs after completion of the employee’s full contract obligation (i.e. the end of the school/work year), benefit coverage will continue through August 31 of that year.

  • Employer’s Termination The Employer ☐ *shall ☐ shall not have the right to terminate this Agreement. *If allowed, the Employer shall be required to provide at least days’ notice. If the Employer should terminate this Agreement, the Employee shall be entitled to severance, equal to their pay at the time of termination, for a period of .

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Termination by Employer (i) Employer may terminate this Agreement upon written notice for Cause. For purposes hereof, "

  • Compensation Upon Termination Upon termination of Executive’s employment during the Employment Term, Executive shall be entitled to the following benefits:

  • Retroactive Pay for Terminated Employees An employee who has retired or severed his/her employment between the termination date of this Agreement and the effective date of the new Agreement shall receive the full retroactivity of any increase in wages, salaries or other benefits.

  • Long Term Disability Benefits A benefit level of seventy percent (70%) of monthly earnings shall apply. Benefits would commence after a waiting period of seventeen (17) weeks, when Short Term Disability Benefits terminate. Terms of the Master Policy with the Insurance Company shall apply. Statement of Intent In order to go on LTD, the person must:

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