New Plan Administrator definition

New Plan Administrator means such person or persons appointed pursuant to Section 26 to administer the Plan upon the occurrence of a Change in Control.
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Examples of New Plan Administrator in a sentence

  • The New Plan Administrator shall also make its own independent determination as to the benefit payable under the terms of the Plan.

  • Upon a Change in Control, the New Plan Administrator shall have the authority invested in the Plan Administrator under Section 10(b), and claims for benefits shall be subject to the claims and appeals procedures outlined in Section 11.

  • Any such adjustment determined by the New Plan Administrator, whether agreed to by the Participant or not, shall be final and binding upon the Corporation or responsible Honeywell Employer and may not be challenged by either of them.

  • If any benefit is paid later than the time provided in this Section 25(b), such late payment shall be credited with interest for the period from the date payment should have been made to the date actually made at a rate equal to the average quoted rate for three-month U.S. Treasury Bills for the week preceding the date of payment, as determined by the New Plan Administrator, plus six percentage points.

  • Any recommendation by the New Plan Administrator shall be final and binding upon the Corporation or responsible Honeywell Employer and may not be challenged by either of them.

  • In the case of a recommendation which is not agreed to by the affected Participant, the New Plan Administrator shall immediately review the recommendation of the Corporation or responsible Honeywell Employer and within 15 days of notice of the dispute from the Participant, determine whether it is in accordance with the terms of the Plan and notify the Corporation or responsible Honeywell Employer and the Participant of its findings.

  • Upon the occurrence of a Change in Control, the Corporation and any Honeywell Employer may make recommendations to the New Plan Administrator with respect to benefit determinations for affected Participants under the Plan and the New Plan Administrator shall immediately forward any such recommendation to the affected Participant.

  • On or before a Change in Control, the Company shall appoint a person independent of the Company to be the New Plan Administrator upon the occurrence of a Change in Control and the Plan Administrator shall provide to the New Plan Administrator such information with respect to each CIC Participant in the Plan as shall be necessary to enable the New Plan Administrator to determine the amount of is the Severance Benefits that are then, or may thereafter become, payable to such CIC Participants.

  • Prior to the resolution of amounts in dispute under Section 22(f), the Participant shall be paid immediately by the Corporation or responsible Honeywell Employer in accordance with the terms of the Plan, the higher of (i) the amount recommended, if any, by the Corporation or the responsible Honeywell Employer, or (ii) the amount recommended by the New Plan Administrator.

  • If either recommendation is accepted in writing by the affected Participant, the New Plan Administrator shall advise the Corporation or responsible Honeywell Employer, and the Corporation or responsible Honeywell Employer shall immediately make payment.

Related to New Plan Administrator

  • Plan Administrator means the plan administrator described in Article 8.

  • Administrative Committee means the committee in charge of Plan administration, as described in Article VII.

  • Plan Committee means a committee of two or more directors appointed by the Board to administer the Plan.

  • Administrator means the Board or any of its Committees as will be administering the Plan, in accordance with Section 4 of the Plan.

  • Named Fiduciary means the Fiduciary or Fiduciaries named herein or in the Adoption Agreement who jointly or severally have the authority to control and manage the operation and administration of the Plan.

  • Claims Administrator means the firm proposed by Class Counsel and appointed by the Courts to administer the Settlement Amount in accordance with the provisions of this Settlement Agreement and the Distribution Protocol, and any employees of such firm.

  • Plan Manager means Investec Bank plc which is authorised by the PRA and regulated by the FCA and the PRA and bound by its rules.

  • Benefits Committee means the Employee Benefits Committee of Textron.

  • Retirement Committee means a committee consisting of the Company’s Vice President of Human Resources, the Director of HR Operations and the Compensation & Benefits Manager.

  • the Committee means the Committee of Management of the Association referred to in rule 10 (1);

  • Program Administrator means the person retained by the Wisconsin PACE Commission as provided in subsection (5)(b).

  • SARON Administrator means the SIX Swiss Exchange AG (or any successor administrator of the Swiss Average Rate Overnight).

  • Scheme Administrator means the person or company appointed under an instrument by the founder to manage the administrative affairs of the scheme.

  • Appeal Committee means the appeal committee established by the Council in terms of section 12(3)(a);

  • Plan Fiduciary As defined in Section 5.3(o).

  • Benchmark Administrator means, initially, the SOFR Administrator, or any successor administrator of the then-current Benchmark or any insolvency or resolution official with authority over such administrator.

  • Participating Employer means any trade or business (whether or not incorporated) which adopts this Plan with the consent of the Company identified in the Adoption Agreement.

  • Plan Sponsor means an employer, trustee, trade union or association or a combination of them that establishes a capital accumulation plan, and includes a plan service provider to the extent that the plan sponsor has delegated its responsibilities to the plan service provider; and

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • Registered Benchmark Administrator means that the Underlying is administered by an administrator who is registered in a register pursuant to Article 36 of the Benchmark Regulation as specified in § 2 of the Product and Underlying Data.

  • Beginning administrator means a building level or district level leader who has not completed three (3) years of experience as a building level or district level administrator.

  • Investment Committee means the committee in charge of investment aspects of the Plan, as described in Article VII.

  • Section 162(m) Participant means any key Employee designated by the Administrator as a key Employee whose compensation for the fiscal year in which the key Employee is so designated or a future fiscal year may be subject to the limit on deductible compensation imposed by Section 162(m) of the Code.

  • Appeals Committee means a Committee or Tribunal duly appointed by by-law to conduct hearings under this By-law;

  • Zoning Administrator means the administrator of these rules who is appointed by the natural resources commission.

  • Managing Employee means a general manager, business manager, administrator, director, or other individual who exercises operational or managerial control over, or who directly or indirectly conducts the day-to-day operation of an institution, organization, agency or business entity;