Post-Retirement Medical Liability Sample Clauses

Post-Retirement Medical Liability of the Agreement is amended to delete the fourth sentence of paragraph (i) and replace such sentence with the following (deleted language in strikethrough and added language in bold): "As soon as practicable but in no event more than eighty-one (81) days after the Closing Date, the Shareholder's actuary shall present to the Purchaser and the Purchaser's actuary its proposed Post-Retirement Medical Liability and such proposal shall set forth in reasonable detail the assumptions underlying such proposal and the retiree, dependent and plan data and such other information upon which the proposal is based ("Shareholder's Proposal")."
Sample 1
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Post-Retirement Medical Liability. Post-Retirement Medical Liability" shall mean the present value of the Sellers' ongoing financial obligation to provide post-retirement medical benefits to employees of the Company, the Company Subsidiaries and their predecessors (including Purolator) who have retired on or before the Closing Date (including employees who elect within sixty (60) days after the Closing Date to start receiving retirement benefits on the first day of the month following the Closing Date) and their eligible spouses and dependants under the CNF Inc. Welfare Benefits Plan determined in accordance with this Section 7.8(i). The Post-Retirement Medical Liability shall be determined (A) under the Company Benefit Plans on the assumption that they are not amended or terminated, (B) including internal and external administration costs, and (C) without regard to tax effects. Prior to the Closing, the Shareholder and the Purchaser each shall designate an actuary for the purpose of making the determinations under this Section 7.8(i) and Section 7.8(j) and the Shareholder shall provide to the Purchaser's actuary such retiree, dependent and plan data as is reasonably requested by the Purchaser's actuary pursuant to either such Section. As soon as practicable but in no event more than twenty-one (21) days after the Closing Date, the Shareholder's actuary shall present to the Purchaser and the Purchaser's actuary its proposed Post- Retirement Medical Liability and such proposal shall set forth in reasonable detail the assumptions underlying such proposal and the retiree, dependent and plan data and such other information upon which the proposal is based ("Shareholder's Proposal"). Within thirty (30) days after receipt of Shareholder's Proposal and the receipt of any additional information reasonably requested by the Purchaser's actuary, the Purchaser's actuary shall certify its agreement in writing to Shareholder's Proposal, in which case, Shareholder's Proposal shall be the Post- Retirement Medical Liability, or, alternatively, present to the Shareholder and the Shareholder's actuary the Purchaser's proposed Post-Retirement Medical Liability, setting forth in reasonable detail the assumptions underlying such proposal and the information upon which the proposal is based ("Purchaser's Proposal"). Within fourteen (14) days after receipt of Purchaser's Proposal, the Shareholder's actuary shall either certify its agreement in writing to Purchaser's Proposal, in which case, Purchaser's Proposal sh...
Sample 1

Related to Post-Retirement Medical Liability

  • ' Compensation & Employer's Liability The Service Provider shall maintain during the life of this Agreement for all of the Service Provider's employees engaged in work performed under this agreement:

  • Workers’ Compensation/Employer’s Liability The Contractor shall have, maintain, and provide proof of Workers’ Compensation insurance.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Workers’ Compensation/Employer’s Liability Insurance The minimum limits of Workers’ Compensation/Employer’s Liability insurance are: Part One: Part Two: “Statutory” Each Accident $1,000,000 Disease – Policy Limit $1,000,000 Disease – Each Employee $1,000,000

  • 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.

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • 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.

  • Coverage E – Personal Liability Coverage E does not apply to:

  • Pre-Retirement Leave An Employee scheduled to retire and to receive a superannuation allowance under the applicable pension Acts or who has reached the mandatory retiring age, shall be entitled to: (a) A special paid leave for a period equivalent to fifty percent (50%) of his/her accumulated sick leave credit, to be taken immediately prior to retirement; or (b) A special cash payment of an amount equivalent to the cash value of fifty percent (50%) of his/her accumulated sick leave credit, to be paid immediately prior to retirement and based upon his/her current rate of pay.

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