PROFIT SHARING AND PENSION PLANS Sample Clauses

PROFIT SHARING AND PENSION PLANS. The Executive's participation in all profit sharing, pension, deferred benefit and retirement plans shall continue through the last day of the Executive's employment, with any terminating distributions and/or vested rights under such plans being governed by the terms of such plans.
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PROFIT SHARING AND PENSION PLANS. To the same extent and on the same basis as the COMPANY makes available to all other employees, EMPLOYEE shall have the right to participate in any profit-sharing or pension plan established by COMPANY under the terms and conditions therein contained in such plans and as many be governed by rules established under ERISA. D.
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PROFIT SHARING AND PENSION PLANS. Seller shall amend Seller’s Profit Sharing Plan so that (i) employees of the Company will be 100 percent vested in their accounts under Seller’s Profit Sharing Plan, notwithstanding any vesting schedule that would otherwise apply, and (ii) employees of the Company are entitled to a proportional contribution for the plan year that includes the Closing Date, notwithstanding any requirement that the employee be employed on a specific date, minimum hours of period of service requirement, or other requirement that would otherwise apply to determine the employee’s entitlement to share in the plan year contribution. As soon as practicable following the Closing, (i) Seller shall take all action necessary (x) to permit the employees of the Company to elect to take distributions (subject to applicable Law) of their accounts under Seller’s Profit Sharing Plan in accordance with the terms of such Plan and (y) to the extent that such employees so elect, to roll over the amounts received from Seller’s Profit Sharing Plan (including, to the extent permissible under applicable Law and to the extent an eligible employee enrolls in Buyer’s defined contribution plan and elects to rollover the employee’s entire account balance, any outstanding loans) to an individual retirement account or to a defined contribution retirement plan qualified under Section 401(a) of the Code and maintained by Buyer or one of its Affiliates, and (ii) Buyer shall cause such profit sharing plan to accept a direct rollover of, or an eligible rollover of, all or a portion of the taxable portion of a distribution to employees of the Company from Seller’s Profit Sharing Plan; provided that Buyer receives evidence reasonably acceptable to it that Seller’s Profit Sharing Plan is qualified under the applicable provisions of the Code. Seller shall also amend the Teleflex Incorporated Pension Plan, if required, so that the Director of Operations of the Company will be 100 percent vested in his accrued benefit under the plan, notwithstanding any vesting schedule that would otherwise apply.
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Related to PROFIT SHARING AND PENSION PLANS

  • Pension and Profit Sharing Plans Executive shall be entitled to participate in any pension or profit sharing plan or other type of plan adopted by Company for the benefit of its officers and/or regular employees.

  • Retirement Plans 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 (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, JHSS shall provide the following administrative services:

  • 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.

  • 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:

  • Savings Plans Employee shall be entitled to participate in Employer’s 401(k) plan, or other retirement or savings plans as are made available to Employer’s other executives and officers and on the same terms which are available to Employer’s other executives and officers.

  • Retirement and Welfare Plans Executive shall participate in employee retirement and welfare benefit plans made available to the Company’s senior level executives as a group or to its employees generally, as such retirement and welfare plans may be in effect from time to time and subject to the eligibility requirements of the plans. Nothing in this Agreement shall prevent the Company from amending or terminating any retirement, welfare or other employee benefit plans or programs from time to time as the Company deems appropriate.

  • Pension and Welfare Plans During the twelve-consecutive-month period prior to the Closing Date and prior to the date of any Credit Extension hereunder, no steps have been taken to terminate any Pension Plan, and no contribution failure has occurred with respect to any Pension Plan sufficient to give rise to a Lien under Section 302(f) of ERISA. No condition exists or event or transaction has occurred with respect to any Pension Plan which might reasonably be expected to result in the incurrence by the Borrowers or any member of the Controlled Group of any material liability, fine or penalty. Except as disclosed in Item 6.11 of the Disclosure Schedule, neither any Borrower nor any member of the Controlled Group has any contingent liability with respect to any post-retirement benefit under a Welfare Plan, other than liability for continuation coverage described in Part 6 of Title I of ERISA.

  • Health and Welfare Benefit Plans During the Employment Period, Executive and Executive’s immediate family shall be entitled to participate in such health and welfare benefit plans as the Employer shall maintain from time to time for the benefit of senior executive officers of the Employer and their families, on the terms and subject to the conditions set forth in such plan. Nothing in this Section shall limit the Employer’s right to change or modify or terminate any benefit plan or program as it sees fit from time to time in the normal course of business so long as it does so for all senior executives of the Employer.

  • Pension You are eligible to join the Company’s group personal pension scheme. Membership of and benefits under the scheme are strictly subject to the rules of the scheme as amended from time to time. The Company expressly reserves the right in its discretion to amend or terminate the pension scheme. The Company shall contribute to the Company’s pension scheme an amount equal to 10% of your Salary provided that you contribute 4% or more to that scheme, subject to the annual allowance set by HM Revenue & Customs from time to time not being exceeded. In the event that you exceed the annual allowance set by HM Revenue & Customs in any fiscal year or maximum lifetime allowance, the Company may, at your request, pay a pro-rata amount equal to 10% of your basic salary in lieu of a pension contribution to you as an allowance, subject to deduction of income tax and national insurance contributions, you certifying and, at the request of the Company, providing evidence satisfactory to the Company that you have exceeded such annual allowance for the applicable fiscal year or the maximum lifetime allowance and, if necessary, you opting out of auto enrolment. Any pension contribution or allowance shall be paid in equal monthly instalments in arrears.

  • No Pension Plans Neither the Company nor any current or past ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any Pension Plans subject to Title IV of ERISA or Section 412 of the Code.

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