ITT Employees definition

ITT Employees means persons who, immediately after the Distribution Date, are employed by ITT, including such persons absent from work at ITT by reason of layoff, leave of absence or disability.
View Source
ITT Employees means (i) persons employed in the United States on a salaried basis by the ITT Group immediately prior to the Distribution, except those persons who are employed by CWI and MSG as of such time; (ii) persons employed in the United States by ITT Hartford immediately prior to the Distribution; (iii) persons employed on an hourly basis by the ITT Group immediately prior to the Distribution who have accrued benefits under the ITT Salaried Retirement Plan, the Sheraton Salaried Retirement Plan or the ITT Hartford Retirement Plan and (iv) persons included in clauses (i), (ii) and (iii) above who are absent from work immediately prior to the Distribution by reason of layoff, leave of absence or disability.
View Source
ITT Employees means persons who, immediately after the Distribution Date, are employed by ITT, including such persons absent from work at ITT by reason of layoff, leave of absence or disability. “ITT Group” means ITT and its affiliates prior to the Distribution. “ITT Indemnitees” has the meaning set forth in the Distribution Agreement. “ITT Plans” means the ITT Deferred Compensation Plan, the ITT Defined Benefit Plans, the ITT Defined Contribution Plans, the ITT Director Plan, the ITT Excess Pension Plan, the ITT Excess Savings Plan, the ITT Non-Qualified Plans, the ITT Non-US H&W Plans, the ITT Non-US Pension Plans, the ITT Non-US Unfunded Plans, the ITT Long-Term Disability Plan, the ITT Stock Plans and any other plan, program or arrangement maintained for the benefit of ITT Employees prior to the Distribution Date. “ITT Retained Business” has the meaning set forth in the Distribution Agreement. “ITT Retiree” means any retired employee of ITT or any of its predecessors. “ITT stock awards” has the meaning set forth in Section 7 of this Agreement. Table of Contents
View Source

Examples of ITT Employees in a sentence

  • As soon as practicable on or after the Distribution Date, ITT shall cause the transfer of the sponsorship of the ITT Salaried Investment and Savings Plan identified as Item 1 on Schedule 4(a)(i) to Defense and Defense shall cause the transfer of the accounts of all ITT Employees and Water Employees from such plan to the defined contribution plans adopted by ITT and Water, as applicable.

  • All Preexisting ITT Employees employed by legal entities that became legal entities of ITT following the Distribution Date shall be ITT Employees.

  • Benefit entitlements of ITT Employees under the Canadian Salaried DB Plans shall be determined in accordance with the terms of the plans and applicable local law.

  • Schedule 4(a)(ii) lists each defined contribution plan applicable to Preexisting ITT Employees (the “US Non-Qualified DC Plans”).

  • Schedule 4(a)(i) lists each defined contribution plan applicable to Preexisting ITT Employees (the “US Qualified DC Plans”).

  • ITT stock awards held by ITT Employees and ITT Retirees shall be adjusted to reflect the Distribution, as provided pursuant to the terms of the ITT Stock Plans, such that they retain ITT stock awards (but not stock awards payable in Water or Defense shares) following the Distribution Date.

  • Effective as of the Distribution Date, ITT shall adopt a new defined contribution plan for ITT Employees who participated in the defined contribution plan identified as Item 1 on Schedule 4(a)(i).

  • All Preexisting ITT Employees employed by legal entities that became legal entities of Water following the Distribution Date shall be Water Employees.

  • As soon as practicable on or after the execution of this Agreement, ITT, Water and Defense shall use their reasonable best efforts to enter into, or have in place, an employment agreement with each of the Preexisting ITT Employees listed on Schedule 1(d) attached hereto, which employment agreements shall become effective on the Close of the Distribution Date.

  • As described in Section 5.1 of the Distribution Agreement and agreed to by ITT, Defense and Water, none of ITT, Water or Defense shall solicit or hire Preexisting ITT Employees for such period following the Effective Time as specified therein, without receiving the written consent of the affected prior employer.