Thrift Plans Sample Clauses

Thrift Plans. If the Employer makes an election in Adoption Agreements 003 or 006 to require Voluntary Contributions to participate in this Plan, the Employer shall notify each eligible Employee in writing of his or her eligibility for participation at least 30 days prior to the appropriate Entry Date. The Employee shall indicate his or her intention to join the Plan by authorizing the Employer to withhold a percentage of his or her Compensation as provided in the Plan. Such authorization shall be returned to the Employer at least 10 days prior to the Employee's Entry Date. The Employee may decline participation by so indicating on the enrollment form or by failure to return the enrollment form to the Employer prior to the Employee's Entry Date. If the Employee declines to participate, such Employee shall be given the opportunity to join the Plan on the next Entry Date. The taking of a Hardship Withdrawal under the provisions of paragraph 6.9 will impact the Participant's ability to make these contributions.
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Thrift Plans. Effective as of the Closing Date, Dynatech Laboratories, Inc. shall cause each of its Transferred Employees to have a fully nonforfeitable right to such Transferred Employee's account balance under the Dynatech Corporation Profit-Sharing and 401(k) Savings Plan (the "Seller's Thrift Plan"). The Buyers shall take all action necessary and appropriate to extend coverage, effective as of the first day of the third month following the month in which the Closing occurs, under the Thermo Electron Corporation MoneyMatch Plus 401(k) Plan (the "Buyers' Thrift Plan") to the Transferred Employees who have met the eligibility requirements of the Seller's Thrift Plan or of the Buyers' Thrift Plan as of such date. All Transferred Employees shall be credited under the Buyers' Thrift Plan, for eligibility and vesting purposes, with the service credited under the terms of the Seller's Thrift Plan. The Sellers shall provide the Buyers with all such information as is necessary for the Buyers to carry out their obligations under the foregoing sentence. The Sellers shall cause to be made any matching or regular contributions that are required under the Seller's Thrift Plan for any period prior to the Closing Date and the Buyers shall have no responsibility therefor. Each such Transferred Employee shall be permitted to make a lump sum withdrawal of his or her account balance under the Seller's Thrift Plan. The Buyers shall cause the Buyers' Thrift Plan to accept any direct cash rollovers with respect to such Transferred Employees from the Seller's Thrift Plan to the Buyers' Thrift Plan. As soon as practicable after the Closing, the account balances of Transferred Employees under the Seller's Thrift Plan shall be transferred from the Seller's Thrift Plan to the Buyers' Thrift Plan or, to the extent permitted under Code Sections 401(k) and 411(d)(6) and regulations thereunder, shall be made available for distribution from the Seller's Thrift Plan to Transferred Employees at their election, provided that Transferred Employees with outstanding loans under the Seller's Thrift Plan must make such election, at their discretion, by February 15, 1996. All transfers of account balances from the Seller's Thrift Plan to the Buyers' Thrift Plan shall be made in cashand promissory notes representing loans made to Transferred Employees.
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Thrift Plans. Pursuant to the amendments to the USS Pension Plan rxxxxxxx xo in Subparagraph 18.B, all nonunion employees who are employed by AMI as of the Closing pursuant to Subparagraph 18.A above will continue to accrue pension continuous service for eligibility and vesting purposes. Such service shall also be used for vesting purposes under the United States Steel Corporation Savings Fund Plan for Salaried Employees. Employees of AMI will be permitted to withdraw their contributions and the employer contributions to such Savings Plan only in accordance with the terms of such Savings Plan. No employee contributions will be permitted after the Closing. Within six months following the Closing Date, AMI will design and install a stock purchase, thrift, or an incentive plant which will provide in the aggregate the same general level of contributions for the benefit of the nonunion employees who are employed by AMI pursuant to Subparagraph 18.A as have been provided heretofore in the aggregate by the USS Savings Fund Plan for Salaried Employees - Article I-III. Contributions will be deemed in the aggregate to be at the same level of contributions if, viewed ___ percentage of participants' compensation (such participants being only those who were employed exclusively in connection with the Operations or Alside), they are at least equal to the average percentage of compensation contributed by USS under the USS Savings Fund Plan for Salaried Employees - Article I-III for the three plan years ending immediately prior to the Closing and allocated to the accounts of employees employed exclusively in connection with the Operations or Alside or Alside, Inc. This rate will be contributed for the account of each participant entitled to participate in such plan. In the alternative, AMI will make salary and/or benefit improvements which as an expenditure by or cost to AMI will equal in the aggregate the average for the three plan years immediately prior to Closing of such contributions for the benefit of such employees. In the event such plan or salary and/or benefit improvements is or are not installed retroactively so as to pay benefits effective as of the Closing Date, AMI will provide the covered employees with the equivalent increase in compensation (without regard to the impact, if any, of Taxes) for the period that such plan or salary and/or benefit improvements have not been in effect. USS will furnish AMI with information reasonably requested by AMI to determine the contrib...
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Thrift Plans. 10 ARTICLE III EMPLOYER CONTRIBUTIONS 3.1 Amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 3.2
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Thrift Plans. If the Employer makes an election in the Adoption Agreement to require Voluntary Contributions to participate in this Plan, the Employer shall notify each eligible Employee in writing of his or her eligibility for participation at least 30 days prior to the appropriate Entry Date. The Employee shall indicate his or her intention to join the Plan by authorizing the Employer to withhold a percentage of his or her Compensation as provided in the Plan. Such authorization shall be returned to the Employer at least 10 days prior to the Employee's Entry Date. The Employee may decline participation by so indicating on the enrollment form or by failure to return the enrollment form to the Employer prior to the Employee's Entry Date. If the Employee declines to participate, such Employee shall be given the opportunity to join the Plan on the next Entry Date. The taking of a Hardship Withdrawal under the provisions of paragraph 6.9 will impact the Participant's ability to make these contributions.
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Thrift Plans. 17 3.4 Insurance and Other Welfare Benefit Plans...................19 3.5 Retirees....................................................21 3.6
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Related to Thrift 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.

  • 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.

  • 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.

  • Welfare Plans Effective as of the Closing Date, Purchaser shall provide group health, life insurance, long term disability and other welfare and fringe benefit plan coverage and benefits (for the purposes of this Section 6.8, “Purchaser’s Health, Welfare and Fringe Benefit Plans”) for Newsprint Employees and Apache Employees who are offered and accept employment with Purchaser as of the Closing Date and who otherwise qualify for such coverage or benefits. In the case of Hourly Newsprint Employees and Hourly Apache Employees, such coverage or benefits shall provide substantially comparable coverage and benefits in the aggregate as Seller’s health, life insurance, welfare and fringe benefit plans provide (for the purposes of this Section 6.8, “Seller’s Health, Welfare and Fringe Benefit Plans”) and otherwise comply with the relevant Collective Bargaining Agreements and in part shall provide for Purchaser’s assumption and continuation of Seller’s Health, Welfare and Fringe Benefit Plans covering Hourly Newsprint Employees and Hourly Apache Employees. In the case of Salaried Employees, Purchaser shall offer substantially comparable coverage and benefits in the aggregate as provided under Seller’s Health, Welfare and Fringe Benefit Plans, except for including retiree health and retiree life insurance. Purchaser may assume and continue any or all of Seller’s Health, Welfare and Fringe Benefit Plans, except for Seller’s health and dental benefits for Salaried Employees, coverage under which shall be provided to Retained Employees and Hired Employees in accordance with the terms of the Transitional Services Agreement. A Newsprint Employee’s or Apache Employee’s last continuous period of service with Seller or Apache shall be counted as if it had been service for Purchaser in determining eligibility for the coverage and benefits set forth in this Section 6.8. Attached as Schedule 6.8 is a list of the last continuous period of service of Newsprint Employees and Apache Employees as of the date set forth on Schedule 6.8. If Purchaser assumes and continues one or more of Seller’s Health, Welfare and Fringe Benefit Plans, the parties shall enter into the Welfare Benefit Plans Assignment and Assumption Agreement in this regard.

  • 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.

  • 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.

  • Benefits Plans During the Employment Period, You will be eligible to participate in all benefit plans in effect for executives and employees of the Company, subject to the terms and conditions of such plans.

  • 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).

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • No Pension Plans Neither the Company nor any current or past ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any Pension Plans subject to Title IV of ERISA or Section 412 of the Code.

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