Voluntary Investment Plan Sample Clauses

Voluntary Investment Plan. 6.1(a) All employees covered by this Agreement may participate in The Boeing Company Voluntary Investment Plan (also known as the VIP) for the duration of this Agreement as set forth below and subject to the terms of the VIP Plan, as amended from time to time pursuant to the procedures set forth in the VIP plan document. Employees will be eligible to participate as, to the extent, and under the terms provided in the official VIP plan document. The Company, through the persons and process specified in the VIP plan document, reserves the right to amend the VIP (i) to satisfy all requirements of applicable law and regulations, including without limitation the Internal Revenue Code of 1986, the Employee Retirement Income Security Act of 1974 and the federal securities laws, all as amended from time to time; and (ii) to unilaterally alter, amend, and/or modify any or all terms of the VIP at its sole discretion without further discussion or negotiation with the Union. All terms and conditions of the VIP, as it may be so amended or modified will apply to employees covered by this Agreement. Notwithstanding the foregoing, the Company will not discontinue the VIP or change either the amount of the Company Contribution or the rate at which matching contributions are allocated to employees covered by this Agreement, during the term of this Agreement, without the concurrence of the Union.
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Voluntary Investment Plan. 3 Section 9.1
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Voluntary Investment Plan. [401(k) Plan] -------------------------------------------------
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Voluntary Investment Plan. Subject to the continuing approval of the Commissioner of Internal Revenue and of other cognizant governmental authorities and to the provisions of this section 7(b), the Company will provide Instructor Pilots benefits under the Company’s Voluntary Investment Plan (VIP). Effective January 1, 2009, employees may elect to contribute to the VIP from 1 percent to 25 percent of base pay on a pre-tax, after-tax, or combination of pre-tax and after-tax basis, in 1 percent increments. Employees hired or rehired before January 1, 2010, shall be eligible for a Company matching contribution for each pay period equal to 75 percent of the first 8 percent of base pay the employee contributes to the VIP. Employees who are hired or rehired on or after January 1, 2010, shall be eligible for a Company matching contribution for each pay period equal to 100 percent of the first 4 percent of base pay the employee contributes to the VIP and 50 percent of the next 4 percent of base pay the employee contributes to the VIP. Employees will be 100 percent vested immediately in this Company matching contribution. Employees hired or rehired on or after January 1, 2010, will be eligible for an additional Company contribution to the VIP for each pay period in an amount equal to a percent of the employee’s eligible pay (defined as base pay, shift differential, and employee incentive pay earned on/after 2010) for the pay period, according to the schedule below. Employees will be 100 percent vested immediately in this Company contribution. Employees whose most recent hire date is before January 1, 2010, are not eligible for this Company contribution. Age at End of Year Company Contribution Under age 40 3% Age 40-49 4% Age 50 or older 5% The parties agree that innovations in technology and administrative practices can give VIP participants better access to information about their benefits, increased investment options, timely on-line transaction capability, and enhanced administrative features. Accordingly, when the Company identifies administrative services that in its estimation reflect industry best practices, the Company’s Employee Benefit Plans Committee has discretion to adopt these changes to the VIP. The Company, through the Board of Directors (or its delegate) reserves the right to amend the Plan to satisfy all requirements laws applicable to the Savings Plan, including but not limited to Section 401(a), Section 401(k), or any other applicable provision of the Internal Revenue Code...
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Voluntary Investment Plan 
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Related to Voluntary Investment Plan

  • Voluntary Increase The Company from time to time may increase the Conversion Rate by any amount for any period of time. Whenever the Conversion Rate is increased, the Company shall mail to Securityholders and file with the Trustee and the Conversion Agent a notice of the increase. The Company shall mail the notice at least 15 days before the date the increased Conversion Rate takes effect. The notice shall state the increased Conversion Rate and the period it will be in effect. A voluntary increase of the Conversion Rate does not change or adjust the Conversion Rate otherwise in effect for purposes of Section 11.06, 11.07 or 11.08.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

  • Voluntary Withdrawal If any Partner should withdraw from the Partnership, they must give at least days’ written notice to the Partnership. Such withdrawal shall have no effect on the day-to-day operations of the Partnership.

  • Voluntary Reduction The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty, (i) the entire Revolving Credit Commitment at any time or (ii) portions of the Revolving Credit Commitment, from time to time, in an aggregate principal amount not less than $3,000,000 or any whole multiple of $1,000,000 in excess thereof. Any reduction of the Revolving Credit Commitment shall be applied to the Revolving Credit Commitment of each Revolving Credit Lender according to its Revolving Credit Commitment Percentage. All Commitment Fees accrued until the effective date of any termination of the Revolving Credit Commitment shall be paid on the effective date of such termination.

  • Voluntary Reductions The Borrower shall have the right to terminate or permanently reduce the unused portion of the Revolving Committed Amount at any time or from time to time upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (which shall notify the Lenders thereof as soon as practicable) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction which shall be in a minimum amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agent; provided that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the sum of the aggregate principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations would exceed the Revolving Committed Amount then in effect.

  • Supplemental Executive Retirement Plan The Executive shall participate in the Company's Unfunded Pension Plan for Selected Executives (the "SERP").

  • Voluntary Resignation (2) Discharge for just cause.

  • Notification of Subsequent Employer Executive hereby agrees that prior to accepting employment with, or agreeing to provide services to, any other Person during any period during which Executive remains subject to any of the covenants set forth in Section 5, Executive shall provide such prospective employer with written notice of such provisions of this Agreement, with a copy of such notice delivered simultaneously to the Company.

  • Termination of 401(k) Plan The Company agrees to terminate its 401(k) plan immediately prior to the Closing, unless Parent, in its sole and absolute discretion, agrees to sponsor and maintain such plan by providing the Company with notice of such election at least five days before the Effective Time.

  • Notice of Voluntary Increases If the Board of Directors determines to increase the Conversion Rate pursuant to Section 5.06(A), then, no later than the first Business Day of the related twenty (20) Business Day period referred to in Section 5.06(A), the Company will send notice to each Holder, the Trustee and the Conversion Agent of such increase, the amount thereof and the period during which such increase will be in effect.

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