Retirement and Benefit Plans. During his employment, Xx. Xxxxx shall be entitled to participate in all retirement plans, health benefit programs, insurance programs and other similar employee welfare benefit arrangements available generally to senior executive officers of Sun. Such plans, programs and arrangements are subject to change during employment at the sole discretion of the Company.
Retirement and Benefit Plans. (a) Each employee pension benefit plan ("Pension Plan") as such term is defined in Section 3 of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), and each deferred compensation, bonus, incentive, stock incentive, option, stock purchase or other employee benefit plan, agreement, commitment or arrangement ("Benefit Plan"), which is currently maintained by Northstar or GFS or to which Northstar or GFS currently contributes or is under any current obligation to contribute (collectively, the "Employee Plans" and individually, an "Employee Plan") is listed in Section 3.16 of the Disclosure Schedule and, to the extent an Employee Plan is evidenced by documents, true and complete copies thereof have been made available to Buyer.
(b) Each of Northstar and GFS has made on a timely basis all contributions or payments required to be made by it pursuant to the terms of the Employee Plans, ERISA, the Code or other applicable laws, unless such contributions or payment that have not been made are immaterial in amount and the failure to make such payments or contributions will not materially and adversely affect the Employee Plans. No Pension Plan is a "defined benefit plan" within the meaning of ERISA.
(c) Each Employee Plan (and any related trust or other funding instrument) is being administered in all material respects in compliance with its terms and in both form and operation is in compliance in all material respects with the applicable provisions of ERISA, the Code and other applicable laws and regulations, and all material reports required to be filed with any governmental agency with respect to any Pension Plan have been timely filed.
(d) There are no material litigation, arbitration or administrative proceedings pending or, to the knowledge of Northstar, threatened against Northstar or GFS or any plan fiduciary by the Internal Revenue Service, the U.S. Department of Labor, the Pension Benefit Guaranty Corporation or any participant or beneficiary with respect to any Employee Plan. Neither Northstar nor GFS nor, to the knowledge of Northstar, any plan fiduciary of any Pension Plan has been engaged in any transaction in violation of Section 460(a) or (b) of ERISA for which no exemption exists under Section 408 of ERISA or any "prohibited transaction" as defined in Section 4975(a)(i) of the Code for which no exemption exists under Section 4975(e)(ii) or 4975(d) of the Code, or is subject to any excise tax imposed by the Code or ERISA with re...
Retirement and Benefit Plans. During the Employment Term, Executive shall be eligible to participate in or receive benefits under any pension plan, 401(k) savings plan, nonqualified deferred compensation plan, supplemental executive retirement plan, medical and dental benefits plan, life insurance plan, short-term and long-term disability plans, or any other employee benefit or fringe benefit plan, generally made available by Sun to senior executives in accordance with the eligibility requirements of such plans and subject to the terms and conditions set forth in this Agreement. Such plans, programs and arrangements are subject to change during employment at the sole discretion of the Company.
Retirement and Benefit Plans. During the Term, Executive shall be entitled to participate in all retirement plans, health benefit programs, insurance programs and other similar employee welfare benefit arrangements available generally to senior executive officers of Sabra from time to time. Such plans, programs and arrangements are subject to change during the Term at the sole discretion of the Company.
Retirement and Benefit Plans. During his employment, Employee shall be entitled to participate in and Employer agrees to provide all retirement and benefit plans at no cost to Employee including: retirement plans with immediate and full (100%) vesting; Comprehensive health and major medical health insurance for Employee and his family; Comprehensive dental insurance for Employee and his family; Comprehensive vision insurance for Employee and his family; Comprehensive life insurance; Travel accident insurance; Disability insurance; Liability insurance and other similar employee welfare benefit arrangements including equity-based incentive plans as described in 3(c) above available as an executive Employee of Employer. There shall be no payroll deduction as a condition of coverage in the health and major medical plans, dental plans and vision plans. Any fees, premiums, or pay-outs will come solely from the Investor Relations Department budget subject to availability of funds.
Retirement and Benefit Plans. During his employment, Employee shall be entitled to participate in and Employer agrees to provide all retirement and benefit plans at no cost to Employee including: retirement plans with immediate and full (100%) vesting; Comprehensive health and major medical health insurance for Employee and his family; Comprehensive dental insurance for Employee and his family; Comprehensive vision insurance for Employee and his family; Comprehensive life insurance; Travel accident insurance; Disability insurance; Liability insurance and other similar employee welfare benefit arrangements; including equity-based incentive plans as described in 3(c) above available as an executive Employee of Employer.
Retirement and Benefit Plans. Effective as of the Closing Date, Purchaser shall allow Transferred Employees to participate in existing benefit and retirement plans of Purchaser or an Affiliate of Purchaser (the “Purchaser Plans”).
Retirement and Benefit Plans. For purposes of all employee benefit plans, programs or arrangements maintained or contributed to by National City or Surviving Corporation National City shall credit or shall cause Surviving Corporation to credit employees of Company and Company Subsidiaries who become employees of National City or Surviving Corporation as a result of the Merger with all service with Company or any Company Subsidiaries for purposes of eligibility and vesting as if such service, and compensation from, had been performed for National City but not for purposes of benefit accrual, provided, however, that this provision shall not change the treatment under the National City Non-Contributory Retirement Plan and Trust of service with National City or any of National City's subsidiaries prior to the Closing Date. From and after the Effective Time, National City shall, or shall cause Surviving Corporation to, cause any and all pre-existing condition limitations under any health plans to be waived with respect to Company Employees and their eligible dependents to the extent that such conditions were covered by Company's health plans. To the extent that any Company Employees and their eligible dependents have, before the Effective Time, satisfied in whole or in part any annual deductible or paid any out of pocket or co-payment expenses under the applicable plan of the Company, such individual shall be credited therefor under the corresponding plan of National City or Surviving Corporation in which such individual participates after the Effective Time.
Retirement and Benefit Plans. Buyer will not be responsible for any funding or continued operation of any health insurance policies, employee benefit plans, retirement plans, individual retirement accounts, or 401(k) accounts related to, managed by, belonging to, or held for the benefit of, Sellers, their officers, members, shareholders, employees, or any other third parties.
Retirement and Benefit Plans. For purposes of all employee benefit plans, programs or arrangements maintained or contributed to by National City or Surviving Corporation, National City shall credit or shall cause Surviving Corporation to credit employees of Company and Company Subsidiaries who become employees of National City or Surviving Corporation as a result of the Merger ("Company Employees") with all service with Company or any Company Subsidiaries for purposes of eligibility and vesting as if such service, and compensation from, had been performed for National City, and, for purposes of benefit accruals under any severance sick leave and other similar employee benefit plans (but not under any qualified retirement plan maintained by National City), provided, however, that this provision shall not change the treatment under the National City Non-Contributory Retirement Plan and Trust of service with National City or any of National City's subsidiaries prior to the Closing Date. From and after the Effective Time, National City shall, or shall cause Surviving Corporation to, cause any and all pre-existing condition limitations under any health plans to be waived with respect to Company Employees and their eligible dependents to the extent that such conditions were covered by Company's health plans. To the extent that any Company Employees and their eligible dependents have, before the Effective Time, satisfied in whole or in part any annual deductible or paid any out of pocket or co-payment expenses under the applicable plan 20 25 of the Company, such individual shall be credited therefor under the corresponding plan of National City or Surviving Corporation in which such individual participates after the Effective Time.
