Puerto Rico Savings Plan Sample Clauses

Puerto Rico Savings Plan. Effective on or before the Distribution Date, SpinCo shall or shall cause the members of the SpinCo Group to adopt and establish a SpinCo Puerto Rico Savings Plan and related trust which shall have substantially similar terms in all material respects as of immediately prior to the Distribution Date as the corresponding Parent Puerto Rico Savings Plan. Notwithstanding the foregoing, SpinCo may make such changes, modifications or amendments to the SpinCo Puerto Rico Savings Plan as may be required by applicable Law or as are necessary and appropriate to reflect the Separation or which result from vendor limitations. The Parties shall implement the provisions of Section 5.03 to the extent applicable under the same or similar substantive requirements of Puerto Rico and comply with applicable Law (including any regulatory approvals) to effectuate the transfer of account balances, liabilities and participation of eligible SpinCo Group Employees in the SpinCo Puerto Rico Savings Plan.
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Puerto Rico Savings Plan. Subject to applicable law and the ------------------------ provisions of the Baxter Healthcare Corporation of Puerto Rico Savings and Investment Plan (the "Baxter PR Savings Plan"), as soon as administratively ---------------------- practicable following the establishment of the Edwards Puerto Rico Savings Plan, or effective as of any other date as agreed to in writing by the plan administrator for the Baxter PR Savings Plan and the plan administrator for the Edwards Puerto Rico Savings Plan, the account balances (including outstanding loans) of all Baxter PR Savings Plan participants who are employees of [Edwards Puerto Rico] ("Edwards PR Employees") shall be transferred from the Baxter PR -------------------- Savings Plan to the Edwards Puerto Rico Savings Plan (the "PR Transferred -------------- Accounts"). Each Edwards PR Employee shall receive credit for all purposes under -------- the Edwards Puerto Rico Savings Plan for the periods of service with Baxter Healthcare Corporation of Puerto Rico or any of its Subsidiaries or Affiliates. The plan administrator for the Edwards Puerto Rico Savings Plan shall distribute any amounts from such Transferred Accounts that may be necessary in order for the Baxter PR Savings Plan to satisfy any requirements of applicable law (including, nondiscrimination rules) as instructed by the plan administrator for the Baxter PR Savings Plan. The plan administrator for the Edwards Puerto Rico Savings Plan shall take any other action reasonably requested by the plan administrator for the Baxter PR Savings Plan that is necessary or advisable, in the opinion of the plan administrator for the Baxter PR Savings Plan, to maintain the tax-qualified status of the Baxter PR Savings Plan or to avoid the imposition of any penalties with respect to such plan.
Sample 1
Puerto Rico Savings Plan. Subject to applicable law and the ------------------------ provisions of the Baxter Healthcare Corporation of Puerto Rico Savings and Investment Plan (the "Baxter PR Savings Plan"), as soon as administratively ---------------------- practicable following the establishment of the Edwards Lifesciences Corporation of Puerto Rico Savings and Investment Plan (the "Edwards PR Savings Plan"), or ----------------------- effective as of any other date as agreed to in writing by the plan administrator for the Baxter PR Savings Plan and the plan administrator for the Edwards PR Savings Plan, the account balances (including outstanding loans) of all Baxter PR Savings Plan participants who are employees of Edwards Puerto Rico (936) or Edwards Puerto Rico (MS&P) ("Edwards PR Employees") shall be transferred from -------------------- the Baxter PR Savings Plan to the Edwards PR Savings Plan (the "PR Transferred -------------- Accounts"). Each Edwards PR Employee shall receive credit for all purposes -------- under the Edwards PR Savings Plan for the periods of service with Baxter Healthcare Corporation of Puerto Rico or any of its Subsidiaries or Affiliates. The plan administrator for the Edwards PR Savings Plan shall distribute any amounts from such Transferred Accounts that may be necessary in order for the Baxter PR Savings Plan to satisfy any requirements of applicable law (including, nondiscrimination rules) as instructed by the plan administrator for the Baxter PR Savings Plan. The plan administrator for the Edwards PR Savings Plan shall take any other action reasonably requested by the plan administrator for the Baxter PR Savings Plan that is necessary or advisable, in the opinion of the plan administrator for the Baxter PR Savings Plan, to maintain the tax-qualified status of the Baxter PR Savings Plan or to avoid the imposition of any penalties with respect to such plan.
Sample 1
Puerto Rico Savings Plan 
Sample 1

Related to Puerto Rico Savings Plan

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • 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.

  • 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.

  • Health Care Savings Plan As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator. Subd. 1. All ASF Members who receive severance pay as defined in Section A of this article must participate in the health care savings plan. Subd. 2. All severance pay as defined in Section B of this article shall be transferred to the severed employee's health care savings plan account. At the time of separation, if an ASF Member has an approved exception to participation in the health care savings plan account from the plan administrator, then the ASF Member shall receive this payment in one lump sum payment of cash.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • 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.

  • Salaried Employees Employees in this unit who qualify for exemption from the FLSA overtime provisions based upon duties and who are receiving the Project Manager bonus, as provided for in this MOU, shall be treated as salaried employees, in accordance with the provisions of the FLSA as identified in LAAC section 4.113(b). Salaried employees may be assigned 5/40, 4/10 9/80 or other schedules at the discretion of Management. Notwithstanding any LAAC and MOU provisions, or other City department rules and regulations to the contrary, these employees shall not be required to record specific hours of work for compensation purposes, although hours may be recorded for other purposes. These employees will be paid the predetermined salary for each biweekly pay period, as indicated in the appropriate salary appendices, and shall not receive overtime compensation. Salaried employees shall not be subject to deductions from salary or any leave banks for absences from work of less than a full workday. This provision applies to occasional partial day absences from work which are authorized by the appropriate supervisor designated by management. This provision does not apply to long-term or recurring partial day absences (e.g., intermittent leave/reduced work schedule for purposes of Family/Medical Leave). Salaried employees shall not be subject to disciplinary suspension for a period of less than a workweek (seven days; half of the biweekly pay) unless based on violations of a safety rule of major significance. This requirement shall be superseded by the revised Department of Labor FLSA regulations pertaining to disciplinary suspensions of FLSA-exempt employees on the operative date of the FLSA regulations. The appointing authority of each City department may grant time off for hours worked due to unusual situations.

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