Players Employed by Toronto. (1) Players employed by Maple Leaf Sports & Entertainment Partnership (or any successor thereto) (“Toronto”) or by an NBA Team located in any country other than the United States shall receive pension benefits of comparable value. Except as otherwise provided in Section 1(d)(2), players employed by Toronto (“Toronto Players”) shall continue to receive such benefits by means of the Pension Plan and a separate pension plan maintained by Toronto (the “Toronto Plan”); provided, however, that a player shall not be eligible to participate (or continue to participate) in the Pension Plan for any period of time during which the player is both a resident of Canada for income tax purposes and a Toronto Player (a “Canadian Resident”) but shall instead be eligible to receive a cash payment as described in Section 7 below.
(2) If the participation of Toronto Players in the Pension Plan would, at any time, result in the Pension Plan becoming subject to Canadian provincial pension legislation and/or Canadian federal income tax laws (to the extent that the application of such laws would result in adverse tax consequences to the Pension Plan, the NBA Teams or the Toronto Players) or result in the Toronto Plan’s failure, at any future time, to either be qualified under the Code or registered under Canadian provincial pension legislation or Canadian federal tax laws, then any obligation to establish, maintain or make contributions to the Pension Plan in respect of Toronto Players and the Toronto Plan pursuant to this Agreement or pursuant to any prior collective bargaining agreement shall terminate; provided, however, that any such termination shall not impair the legally binding effect of any other provision of this Agreement or the legally binding effect (if any) of any other provision of any prior collective bargaining agreement, nor shall it create any right: (i) to unilaterally implement during the term of this Agreement any terms concerning the provision of pension benefits to the players; (ii) to lockout; or (iii) to strike. In the event of such termination, the NBA and Players Association agree to bargain in good faith with respect to an alternative arrangement to be provided by Toronto to the Toronto Players. Any such alternative arrangement shall be at an annual cost (as determined on an after-tax basis) to Toronto substantially equal to but no greater than the annual accrual cost that Toronto would have incurred under the Pension Plan and the Toronto Plan. If desp...
Players Employed by Toronto. (1) Players employed by Maple Leaf Sports & Entertainment Partnership (or any successor thereto) (“Toronto”) or by an NBA Team located in any country other than the United States shall continue to receive pension benefits of comparable value. Except as otherwise provided in Section 1(g)(2), players employed by Toronto (“Toronto Players”) shall continue to receive such benefits by means of the Pension Plan and the Toronto Raptors Players’ Pension Plan, as restated effective February 2, 2019, and as amended from time to time (the “Toronto Plan”); provided, however, that a player shall not be eligible to participate (or continue to participate)
Players Employed by Toronto. (1) Players employed by Maple Leaf Sports & Entertainment Partnership (or any successor thereto) (“Toronto”) or by an NBA Team located in any country other than the United States shall continue to receive pension benefits of comparable value. Except as otherwise provided in Section 1(g)(2), players employed by Toronto (“Toronto Players”) shall continue to receive such benefits by means of the Pension Plan and the Toronto Raptors Players’ Pension Plan, as restated effective February 2, 2019, and as amended from time to time (the “Toronto Plan”); provided, however, that a player shall not be eligible to participate (or continue to participate) in the Pension Plan for any period of time during which the player is both a resident of Canada for income tax purposes and a Toronto Player (a “Canadian Resident”) but shall instead be eligible to receive a cash payment as described in Section 7 below.
(2) If the participation of Toronto Players in the Pension Plan would, at any time, result in the Pension Plan becoming subject to Canadian provincial pension legislation and/or Canadian federal income tax laws (to the extent that the application of such laws would result in adverse tax consequences to the Pension Plan, the NBA Teams or the Toronto Players) or result in the Toronto Plan’s failure, at any future time, to either be qualified under the Code or registered under Canadian provincial pension legislation or Canadian federal tax laws, then any obligation to establish, maintain, or make contributions to the Pension Plan in respect of Toronto Players and the Toronto Plan pursuant to this Agreement or pursuant to any prior collective bargaining agreement shall terminate; provided, however, that any such termination shall not impair the legally binding effect of any other provision of this Agreement or the legally binding effect (if any) of any other provision of any prior collective bargaining agreement, nor shall it create any right: (i) to unilaterally implement during the term of this Agreement any terms concerning the provision of pension benefits to the players; (ii) to lockout; or (iii) to strike. In the event of such termination, the NBA and Players Association agree to bargain in good faith with respect to an alternative arrangement to be provided by Toronto to the Toronto Players. Any such alternative arrangement shall be at an annual cost (as determined on an after-tax basis) to Toronto substantially equal to but no greater than the annual accrual cost th...
