Savings and Investment Plans Sample Clauses

Savings and Investment Plans. If and to the extent the Executive is a participant in the Savings and Investment Plans or any successor plan thereto ("SIP") and/or the Excess Investment Plan or any successor plan thereto ("EIP"), the Company shall pay the Executive a lump sum amount equal to the amount that the Company would have contributed to the SIP or credited to the EIP, over the two and one half years following the Executive's Date of Termination assuming that the Executive were contributing to each such plan during such period at the rate in effect immediately prior to the Date of Termination (or, if greater, at the rate in effect immediately prior to the Change of Control).
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Savings and Investment Plans. The Executive shall be entitled to participate in all savings and investment plans applicable generally to other senior executives of the Company, in accordance with the terms of such plans, as may be amended from time to time.
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Savings and Investment Plans. If and to the extent the Executive is a participant in the Savings and Investment Plan or any successor plan thereto (“SIP”) and/or the Non-Qualified Deferred Compensation and Excess Investment Plan or any successor plan thereto (“EIP”), the Company shall pay the Executive, as soon as practicable, but no later than 60 days, after the Executive’s Date of Termination, on a nonqualified basis, a lump sum equal to the amount that the Company would have contributed to the SIP and/or credited to the EIP, over the 2.5 years following the Executive’s Date of Termination assuming that the Executive was contributing to each such plan during such period at the rate in effect immediately prior to the Date of Termination (or, if greater, at the rate in effect immediately prior to the Change in Control).
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Savings and Investment Plans. If and to the extent the Executive is a participant in The Phoenix Companies, Inc. Savings and Investment Plan or any successor plan thereto ("SIP") and/or The Phoenix Companies, Inc. Non-Qualified Deferred Compensation and Excess Investment Plan or any successor plan thereto ("EIP"), the Company shall pay the Executive a lump sum equal to the amount that the Company would have contributed to the SIP and/or credited to the EIP, over the [ ] years following the Executive's Date of Termination assuming that the Executive was contributing to each such plan during such period at the rate in effect immediately prior to the Date of Termination (or, if greater, at the rate in effect immediately prior to the Change of Control).
Sample 1
Savings and Investment Plans. If and to the extent the Executive is a participant in the Savings and Investment Plans or any successor plan thereto (“SIP”) and/or the Excess Investment Plan or any successor plan thereto (“EIP”), subject to Section 13(b), the Company shall pay the Executive, as soon as practicable after the Executive’s Date of Termination, a lump sum amount equal to the amount that the Company would have contributed to the SIP or credited to the EIP, over the three years following the Executive’s Date of Termination assuming that the Executive were contributing to each such plan during such period at the rate in effect immediately prior to the Date of Termination (or, if greater, at the rate in effect immediately prior to the Change of Control).
Sample 1
Savings and Investment Plans. (a) At any time on or after the Plan Effective Date, the Holding Company, the Company and Company Affiliates (the "Covered Employers") may each give non-Officer participants the ability to allocate (to the extent otherwise allocable by participants under the terms of the applicable plan) all or any portion of their current account balances and new contributions under the Savings and Investment Plan for Employees of Metropolitan Life and Participating Affiliates, Metropolitan Life Auxiliary Savings and Investment Plan, Auxiliary Savings and Investment Plan of Participating Metropolitan Affiliates and the Supplemental Auxiliary Savings and Investment Plan of Participating Metropolitan Affiliates (the "Savings and Investment Plans") to a Common Stock fund maintained by any Covered Employer. (b) At any time on or after the second anniversary of the Plan Effective Date, the Covered Employers may each give Officer participants the ability to allocate (to the extent otherwise allocable by participants under the terms of the applicable plan) all or any portion of their current account balances and new contributions under the Savings and Investment Plans to a Common Stock fund maintained by any Covered Employer. (c) At any time on or after the Plan Effective Date, the Covered Employers may each provide to or on behalf of any non-Officer participant all or any portion of their matching Savings and Investment Plans contributions as contributions to a Common Stock fund maintained by any Covered Employer. (d) At any time on or after the second anniversary of the Plan Effective Date, the Covered Employers may each provide to or on behalf of any Officer participant all or any portion of their matching Savings and Investment Plans contributions as contributions to a Common Stock fund maintained by any Covered Employer.
Sample 1
Savings and Investment Plans. Detroit Edison has voluntary defined contribution plans qualified under Section 401 (a) and (k) of the Internal Revenue Code for all eligible employees. Detroit Edison contributes up to 6% of base compensation for non-represented employees and up to 4% for represented employees. Matching contributions were $21 million, $20 million and $17 million for 1998, 1997 and 1996, respectively. OTHER POSTRETIREMENT BENEFITS Detroit Edison provides certain postretirement health care and life insurance benefits for retired employees. Substantially all of Detroit Edison's employees will become eligible for such benefits if they reach retirement age while working for Detroit Edison. These benefits are provided principally through insurance companies and other organizations. Net other postretirement benefits cost included the following components: --------------------------------------------------------------------------------------------- 1998 1997 1996 --------------------------------------------------------------------------------------------- (Millions) Service cost - benefits earned during period $ 19 $ 19 $ 20 Interest cost on accumulated benefit obligation 38 39 40 Expected return on assets (30) (20) (14) Amortization of unrecognized transition obligation 21 21 21 -------------------------------- Net other postretirement benefits cost $ 48 $ 59 $ 67 ================================ -------------------------------------------------------------------------------------------- The following reconciles the funded status to the amount recorded in the Consolidated Balance Sheet at December 31: ----------------------------------------------------------------------------------------------- 1998 1997 ----------------------------------------------------------------------------------------------- (Millions) Postretirement benefit obligation at beginning of year $ 580 $ 583 Service cost - benefits earned during period 19 19 Interest cost on accumulated benefit obligation 38 39 Benefit payments (27) (27) Net loss (gain) 15 (34) ------------------------------- Postretirement benefit obligation at end of year 625 580 -------------------------------
Sample 1
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Related to Savings and Investment Plans

  • 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.

  • 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.

  • Retirement Plans (a) 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 (“Qualified 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, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Investment of Contributions At the direction of the Depositor (or the direction of the beneficiary upon the Depositor's death), the Custodian shall invest all contributions to the account and earnings thereon in investments acceptable to the Custodian, which may include marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), covered call options, certificates of deposit, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified by the Depositor in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a trust investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian may, but need not, establish programs under which cash deposits in excess of a minimum set by it will be periodically and automatically invested in interest-bearing investment funds. The Custodian shall have no duty other than to follow the written investment directions of the Depositor, and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Depositor.

  • Flexible Spending Accounts Employees in the unit shall have access to the County’s flexible spending account program, which provides employees with the options of dependent care assistance benefits with a calendar year maximum of $5,000, and medical expense reimbursement benefits with a calendar year maximum of $2,400. The County shall maintain this plan in compliance with IRC §125. Employee premiums for flexible spending account benefits shall be deducted on a pre-tax basis from employee pay.

  • 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.

  • Defined Contribution Plans The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined contribution plan" (as defined in Section 3(34) of ERISA), whether or not terminated.

  • 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.

  • 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).

  • Qualified Plans With respect to each Employee Benefit Plan intended to qualify under Code Section 401(a) or 403(a) (i) the Internal Revenue Service has issued a favorable determination letter, true and correct copies of which have been furnished to Medical Manager, that such plans are qualified and exempt from federal income taxes; (ii) no such determination letter has been revoked nor has revocation been threatened, nor has any amendment or other action or omission occurred with respect to any such plan since the date of its most recent determination letter or application therefor in any respect which would adversely affect its qualification or materially increase its costs; (iii) no such plan has been amended in a manner that would require security to be provided in accordance with Section 401(a)(29) of the Code; (iv) no reportable event (within the meaning of Section 4043 of ERISA) has occurred, other than one for which the 30-day notice requirement has been waived; (v) as of the Effective Date, the present value of all liabilities that would be "benefit liabilities" under Section 4001(a)(16) of ERISA if benefits described in Code Section 411(d)(6)(B) were included will not exceed the then current fair market value of the assets of such plan (determined using the actuarial assumptions used for the most recent actuarial valuation for such plan); (vi) all contributions to, and payments from and with respect to such plans, which may have been required to be made in accordance with such plans and, when applicable, Section 302 of ERISA or Section 412 of the Code, have been timely made; and (vii) all such contributions to the plans, and all payments under the plans (except those to be made from a trust qualified under Section 401(a) of the Code) and all payments with respect to the plans (including, without limitation, PBGC (as defined below) and insurance premiums) for any period ending before the Closing Date that are not yet, but will be, required to be made are properly accrued and reflected on the Current Balance Sheet.

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