Voluntary Investment Plan Sample Clauses

Voluntary Investment Plan. (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.
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Voluntary Investment Plan. 4 6.1(a) All employees covered by this Agreement may participate in The Boeing 6 Company Voluntary Investment Plan (also known as the VIP) for the duration 7 of this Agreement as set forth below and subject to the terms of the VIP Plan, 8 as amended from time to time pursuant to the procedures set forth in the VIP 9 plan document. 10 11 Employees will be eligible to participate as, to the extent, and under the 12 terms provided in the official VIP plan document. The Company, through the 13 persons and process specified in the VIP plan document, reserves the right to 14 amend the VIP (i) to satisfy all requirements of applicable law and regulations, 15 including without limitation the Internal Revenue Code of 1986, the Employee 16 Retirement Income Security Act of 1974 and the federal securities laws, all as 17 amended from time to time; and (ii) to unilaterally alter, amend, and/or modify 18 any or all terms of the VIP at its sole discretion without further discussion or 19 negotiation with the Union. All terms and conditions of the VIP, as it may be 20 so amended or modified will apply to employees covered by this Agreement. 21 Notwithstanding the foregoing, the Company will not discontinue the VIP or 22 change either the amount of the Company Contribution or the rate at which 23 matching contributions are allocated to employees covered by this Agreement, 24 during the term of this Agreement, without the concurrence of the Union. 25
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Voluntary Investment Plan. 18 Section 9.1
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Voluntary Investment Plan. [401(k) Plan] ------------------------------------------------- 1. The "Voluntary Investment Plan for Bargaining Unit Employees of Sierra Pacific Power Company", hereinafter referred to as "VIP", which became effective January 1, 1987, and 165 last amended January 1, 1998, is the Plan in effect during the term of this Contract. For more detailed information regarding "VIP" refer to the formal Plan Document or Summary Plan Description. 2. The Company will pay the normal administrative fee (excluding loan and other individual transaction costs) for all plan participants. 3. Effective January 1, 1998, the maximum employee contribution is 17% of gross earnings, defined as: a) Base Pay b) Incentive Compensation c) Out of Town d) Upgrade e) Shift Premium f) Overtime g) Rest Period h) Pager Pay i) any other cash earnings. 4. Effective January 1, 1998, the Company will provide a match of fifty (50) cents for each dollar of employee contributions up to six (6) percent of the following total earnings: a) Base Pay b) Incentive compensation c) Out-of-Town d) Upgrade e) Shift Premium 5. If an employee reaches the IRS limit, (currently $10,000), at any time during the tax year, and their company match is negatively affected, their company match will be made whole within 30 days following the end of the plan year. 6. Effective April 1, 1998, the following funds will be investment options: a) Vanguard Wellington Fund b) Vanguard Windsor II Fund c) Vanguard Money Market Reserves-Federal Portfolio d) Vanguard Index Trust-500 Portfolio e) Vanguard Bond Index Fund-Total Bond Market Portfolio f) Sierra Pacific Power Stock Fund g) Warburg Pincus International Equity h) Chesapeake Growth Fund i) Stable Value Fund 8. Effective January 1, 1998, changes to allocations, payroll deductions, etc., and transfers among funds can be done on a monthly basis.
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Voluntary Investment Plan. All employees covered by this Agreement may participate in The Boeing 7 Company Voluntary Investment Plan (also known as the VIP) for the duration of this 8 Agreement as set forth below and subject to the terms of the VIP Plan, as amended 9 from time to time pursuant to the procedures set forth in the VIP plan document. 11 Employees will be eligible to participate as, to the extent, and under the terms 12 provided in the official VIP plan document. The Company, through the persons 13 and process specified in the VIP plan document, reserves the right to amend the 15 without limitation the Internal Revenue Code of 1986, the Employee Retirement
Sample 1
Voluntary Investment Plan. [401(k) Plan] 1. The "Voluntary Investment Plan for Bargaining Unit Employees of Sierra Pacific Power Company", hereinafter referred to as "VIP", which became effective January 1, 1987, and last amended January 1, 1998, is the Plan in effect during the term of this Contract. For more detailed information regarding “VIP” refer to the formal Plan Document or Summary Plan Description. 2. The Company will pay the normal administrative fee (excluding loan and other individual transaction costs) for all plan participants. 3. Effective January 1, 2003, the maximum contribution of employee earnings is the IRS limit. They are defined as: a) Base Pay b) Incentive Compensation c) Out of Town d) Upgrade e) Shift Premium f) Overtime g) Rest Period h) Pager Pay i) Any other cash earnings. Employees hired after ratification will receive a Company match of $1 for each $1 up to 6% of qualified earnings. Automatic enrollment will increase to 6% of qualified earnings at ratification. Company match will begin the first full pay period following hire date. (Added March 2007) 4. Effective January 1, 1998 (May 2, 2000 for those indicated with an *), the Company will provide a match of fifty (50) cents for each dollar of employee contributions up to six (6) percent of the following total earnings: a) Base Pay b) Incentive compensation c) Out-of-Town d) Upgrade e) Shift Premium f) Overtime* g) Rest Period* h) Pager Pay* i) Any other cash earnings* (Amended 4/11/00 by Letter of Agreement) 5. If an employee reaches the IRS limit, at any time during the tax year, and their company match is negatively affected, their company match will be made whole within 30 days following the end of the plan year. 6. Please see the Summary Plan Description for Local 1245 or the Vanguard Website for the investment options available. 7. Effective January 1, 1998, changes to allocations, payroll deductions, etc., and transfers among funds can be done on a monthly basis. 8. Effective January 1, 1998, the following changes were made to the BU Voluntary Investment Plan loan provisions: a) Loans are available for any reason for up to 50% of the participants total account balance or $50,000; whichever is less b) Limit of two outstanding loans; (limit of one outstanding loan for Primary Residence) c) Loan interest rate is Prime plus one percent
Sample 1
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. 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 of 1986, as amended, or to satisfy fiduciary duties under the Employee Retirement Incom...
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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 Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • Voluntary Employee Contributions (i) Subject to the governing rules of the relevant superannuation fund, an employee may, in writing, authorise their employer to pay on behalf of the employee a specified amount from the post- taxation wages of the employee into the same superannuation fund as the employer makes the superannuation contributions provided for in Clause 24(b). (ii) An employee may adjust the amount the employee has authorised their employer to pay from the wages of the employee from the first of the month following the giving of three months’ written notice to their employer. (iii) The employer must pay the amount authorised under Clauses 24(d)(i) or 24(d)(ii) no later than 28 days after the end of the month in which the deduction authorised under Clauses 24(d)(i) or 24(d)(ii) was made.

  • Voluntary Insolvency Grantee (i) is generally not paying its debts as they become due,

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • 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.

  • 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.

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

  • 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.

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