RSSIP Sample Clauses

RSSIP. After xxx Xxosing, the Company or its successor in interest shall no longer be a participating employer under the Pentair Retirement Savings and Stock Incentive Plan (the "RSSIP") and Active Employees shall not be entitled to make or authorize contributions thereunder; provided, however, otherwise eligible Active Employees shall be entitled to receive a matching contribution for 1997 consistent with past practice and the terms of the RSSIP and such matching contribution shall be paid by Seller or Pentair and shall not be reflected as a liability on the Closing Date Net Equity Statement. Consistent with past practice, after Closing the Company shall assist FCH and Pentair in gathering and transmitting such information as may be reasonably necessary to determine such match and the contributions made or authorized by Active Employees under the RSSIP for relevant periods ending with or before the Closing Date. As soon as reasonably possible in 1998, but in no event before the date by which matching contributions for 1997 have been made and allocated and available account balances of Active Employees have been finally determined under the RSSIP, Active Employees with account balances under the RSSIP shall be entitled to request a lump sum distribution of such account balances and, if requested by the participant concerned, The Blount 401(K) Retirement Savings Plan (thx "Xxxunt Savings Plan") shall accept a direxx xxxlover transfer of such account balance pursuant to Code Section 401(a)(31); provided, however, (i) no such distribution or transfer shall be made solely by reason of the sale of the Stock to the extent such a distribution or transfer may adversely affect the tax-qualified status of the RSSIP (see, e.g., Treas. Reg. section 1.401(k)-1(d)(4)(iii)), or the Blount Savings Plan, (ii) any such distrixxxxxx or transfer shall be subject to the otherwise applicable benefit payment rules and procedures under the RSSIP, and (iii) in no event shall the Blount Savings Plan be obligated to accepx x xxrect rollover transfer unless made in cash or a cash equivalent (e.g., check or wire transfer). Pending such a distribution or transfer or in the event such a distribution or transfer is not made, Active Employees shall be entitled to retain their benefits under the RSSIP subject to such rules, procedures and limitations which otherwise apply thereunder to terminated vested participants.
Sample 1
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Related to RSSIP

  • 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.

  • 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.

  • 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).

  • Employee Stock Ownership Plan The Executive will be eligible to participate in the Company’s Employee Stock Ownership Plan (“ESOP”), subject to the terms and conditions of the ESOP.

  • 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.

  • Stock Ownership Guidelines Executive will comply with all stock ownership and stock retention guidelines or policies established by the Board and the Committee, as in effect from time to time.

  • Stock Ownership Attached hereto as Schedule 8 is a true and correct list of all the duly authorized, issued and outstanding stock of each Subsidiary and the record and beneficial owners of such stock. Also set forth on Schedule 8 is each equity Investment of the Borrower and each Subsidiary that represents 50% or less of the equity of the entity in which such investment was made.

  • Privilege of Stock Ownership The holder of this option shall not have any of the rights of a shareholder with respect to the Option Shares until such individual shall have exercised the option and paid the Option Price.

  • 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:

  • Privileges of Stock Ownership Optionee shall have no rights as a shareholder with respect to the Bancorp’s stock subject to this option until the date of issuance of stock certificates to Optionee. Except as provided in the Plan, no adjustment will be made for dividends or other rights for which the record date is prior to the date such stock certificates are issued.

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