Purchaser Savings Plan Sample Clauses

Purchaser Savings Plan. The Purchaser shall permit the plan(s) maintained by the Purchaser that is an eligible retirement plan, pursuant to Section 401(a)(31)(D) of the Code (the “Purchaser’s Savings Plan”) to accept an “eligible rollover contribution” (within the meaning of Section 401(a)(31) of the Code) in cash of all or a portion of the account balance distributed to an Employee under any defined contribution plan that is qualified under Section 401(a) of the Code (the “Seller’s Savings Plan”), subject to the Seller’s provision of evidence reasonably satisfactory to Purchaser’s Savings Plan that such Company Benefit Plan which eligible rollover contribution was transferred is qualified under Section 401(a) of the Code. To the extent not prohibited by applicable Law, effective as of the day immediately following the Closing Date, Purchaser shall make available to each Employee on a non-discriminatory basis and on commercially reasonable terms, a short-term loan in an amount equal to such Employee’s aggregate unpaid loan balance with respect to any outstanding loans under Seller’s Savings Plan.
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Purchaser Savings Plan. SECTION 6.06. Underfunded Liability in the Scheme SECTION 6.07. Employee Compensation and Benefits SECTION 6.08. Assumed Obligations SECTION 6.09. Seller’s Savings Plan SECTION 6.10. Leave of Absences
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Purchaser Savings Plan. Effective as of the Closing or as soon as reasonably practicable thereafter but no later than sixty (60) days after Closing, Purchaser shall have, or shall cause one of its Affiliates to have, in effect a defined contribution plan that is qualified under Section 401(a) of the Code and that includes a qualified cash or deferred arrangement within the meaning of Section 401(k) of the Code (the “Purchaser Savings Plan”) in which Purchaser Employees who meet the eligibility criteria thereof (after giving effect to this Section 5.6) shall be eligible to participate. Purchaser shall, or shall cause one of its Affiliates to, take all reasonable steps necessary to permit each Purchaser Employee, if any, who shall receive an eligible rollover distribution (as defined in Section 402(c)(4) of the Code) from any of Seller’s or any of its Subsidiaries’ or Affiliates’ U.S. tax-qualified defined contribution or defined benefit pension plans to rollover such eligible rollover distribution, including any associated loan of cash as part of any lump sum distribution to the extent permitted by the applicable Business Benefit Plan and applicable Law, into an account under the Purchaser Savings Plan as of the Closing or as soon as reasonably practicable thereafter but in any event no later than sixty (60) days after Closing.
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Purchaser Savings Plan. The Purchaser shall permit the plan(s) maintained by the Purchaser that is an eligible retirement plan, pursuant to Section 401(a)(31)(D) of the Code (the “Purchaser’s Savings Plan”) to accept an “eligible rollover contribution” (within the meaning of Section 401(a)(31) of the Code) in cash of all or a portion of the account balance distributed to a Ganis Employee under any Retained Benefit Plan that is qualified under Section 401(a) of the Code, subject to Seller’s provision of evidence reasonably satisfactory to Purchaser’s Savings Plan that the Retained Benefit Plan which the eligible rollover contribution was transferred is qualified under Section 401(a) of the Code. For purposes of this Section 6.07, “eligible rollover contribution” shall include the amount of any unpaid balance of any loan of a Ganis Employee under any Retained Benefit Plan that permits participant loans in accordance with (i) Section 408 of ERISA and (ii) the promissory note executed by such Retained Benefit Plan evidencing such loan.
Sample 1

Related to Purchaser Savings Plan

  • 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 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.

  • 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.

  • 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.

  • 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).

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

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Distribution Plans You shall also be entitled to compensation for your services as provided in any Distribution Plan adopted as to any series and class of any Fund’s Shares pursuant to Rule 12b-1 under the 1940 Act. The compensation provided in any such Distribution Plan (a “12b-1 Plan”) may be divided into a distribution fee and a service fee, as set forth in such Plan and the Fund’s then current prospectus and statement of additional information (“SAI”), each of which is compensation for different services to be rendered to the Fund. Subject to the termination provisions in a 12b-1 Plan, any distribution fee with respect to the sale of a Share subject to such Plan shall be earned when such Share is sold and shall be payable from time to time as provided in the 12b-1 Plan. The distribution fee payable to you as provided in any 12b-1 Plan shall be payable without offset, defense or counterclaim (it being understood by the parties hereto that nothing in this sentence shall be deemed a waiver by the Fund of any claim the Fund may have against you).

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

  • 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.

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