Common use of Retirement Plans; Unvested Company Contribution Clause in Contracts

Retirement Plans; Unvested Company Contribution. The Executive shall be entitled to receive, not later than the fifteenth (15th) day following the Date of Termination (or, if so required under the provisions of the applicable plan, program or arrangement and/or to comply with Section 409A of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), not later than the fifteenth (15th) day following Executive’s Separation from Service), all benefits payable to him upon or on account of termination under any of the Company’s tax-qualified employee benefit plans and any other plan, program or arrangement relating to deferred compensation, retirement or other benefits including, without limitation, any profit sharing, 401(k), employee stock ownership plan, or any plan established as a supplement to any of the aforementioned plans. The Company shall also pay Executive, during the month following the month in which Executive’s Separation from Service occurs, an amount equal to all unvested Company contributions credited to the Executive’s account under any tax-qualified employee benefit plan maintained by the Company as of the Date of Termination. In the event that this subparagraph (vi) should conflict with the provisions of any of the Company’s tax-qualified employee benefit plans and any other plan, program or arrangement relating to deferred compensation, retirement or other benefits including, without limitation, any profit sharing, 401(k), employee stock ownership plan, or any plan established as a supplement to any of the aforementioned plans, then the provisions of the plan shall govern, provided that the Company’s contribution shall vest pursuant to this subparagraph (vi) to the maximum extent permissible.

Appears in 2 contracts

Samples: Executive Retention Agreement (Microsemi Corp), Executive Retention Agreement (Microsemi Corp)

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Retirement Plans; Unvested Company Contribution. The Executive ---- shall be entitled to receive, not later than the fifteenth (15th) day following -------- the Date of Termination (or, if so required under the provisions of the applicable plan, program or arrangement and/or to comply with Section 409A of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), not later than the fifteenth (15th) day following Executive’s Separation from Service)Termination, all benefits payable to him upon or on account of termination under any of the Company’s 's tax-qualified employee benefit plans and any other plan, program or arrangement relating to deferred compensation, retirement or other benefits including, without limitation, any profit sharing, 401(k), employee stock ownership plan, or any plan established as a supplement to any of the aforementioned plans. The Company shall also pay Executive, during not later than the month fifteenth (15th) day following the month in which Executive’s Separation from Service occursDate of Termination, an amount equal to all unvested Company contributions credited to the Executive’s 's account under any tax-qualified employee benefit plan maintained by the Company as of the Date of Termination. In the event that this subparagraph (vi) paragraph should conflict with the provisions of any of the Company’s 's tax-qualified employee benefit plans and any other plan, program or arrangement relating to deferred compensation, retirement or other benefits including, without limitation, any profit sharing, 401(k), employee stock ownership plan, or any plan established as a supplement to any of the aforementioned plans, then the provisions of the plan shall govern, provided that the Company’s 's contribution shall vest pursuant to this subparagraph (vi) to the maximum extent permissibleSection.

Appears in 1 contract

Samples: Agreement (Microsemi Corp)

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Retirement Plans; Unvested Company Contribution. The ---- Executive shall be entitled to receive, not later than the fifteenth (15th) day -------- following the Date of Termination (or, if so required under the provisions of the applicable plan, program or arrangement and/or to comply with Section 409A of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), not later than the fifteenth (15th) day following Executive’s Separation from Service)Termination, all benefits payable to him upon or on account of termination under any of the Company’s 's tax-qualified employee benefit plans and any other plan, program or arrangement relating to deferred compensation, retirement or other benefits including, without limitation, any profit sharing, 401(k), employee stock ownership plan, or any plan established as a supplement to any of the aforementioned plans. The Company shall also pay Executive, during not later than the month fifteenth (15th) day following the month in which Executive’s Separation from Service occursDate of Termination, an amount equal to all unvested Company contributions credited to the Executive’s 's account under any tax-qualified employee benefit plan maintained by the Company as of the Date of Termination. In the event that this subparagraph (vi) paragraph should conflict with the provisions of any of the Company’s 's tax-qualified employee benefit plans and any other plan, program or arrangement relating to deferred compensation, retirement or other benefits including, without limitation, any profit sharing, 401(k), employee stock ownership plan, or any plan established as a supplement to any of the aforementioned plans, then the provisions of the plan shall govern, provided that the Company’s 's contribution shall vest pursuant to this subparagraph (vi) to the maximum extent permissibleSection.

Appears in 1 contract

Samples: Agreement (Microsemi Corp)

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