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

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.

  • In-Service Programs The parties to this collective agreement recognize the value of in-service education both to the employee and the Employer. A) The Employer reserves the right to identify specific in-service programs deemed compulsory. B) Employees required to attend such programs will be paid at the applicable rate of pay.

  • Multi-Year Planning The CAPS will be in a form acceptable to the LHIN and may be required to incorporate (1) prudent multi-year financial forecasts; (2) plans for the achievement of performance targets; and (3) realistic risk management strategies. It will be aligned with the LHIN’s then current Integrated Health Service Plan and will reflect local LHIN priorities and initiatives. If the LHIN has provided multi-year planning targets for the HSP, the CAPS will reflect the planning targets.

  • Public Employees Retirement System “PERS”) Members.

  • 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).

  • Standard Company Benefits Executive shall be entitled to participate in all employee benefit programs for which Executive is eligible under the terms and conditions of the benefit plans that may be in effect from time to time and provided by the Company to its employees. The Company reserves the right to cancel or change the benefit plans or programs it offers to its employees at any time.

  • 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.

Most Referenced Clauses

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