Examples of Potlatch Forest in a sentence
This Plan is a successor plan to the Potlatch Forest Products Salaried Employees’ Supplemental Benefit Plan II (the “PFPC Plan”), with respect to those individuals identified as “Potlatch Employees” pursuant to the Employee Matters Agreement by and between Potlatch Corporation and Clearwater Paper Corporation (the “EMA”).
As used in this Agreement, the following terms shall have the meanings set forth below: “6.95% Debentures” means the 6.95% Debentures issued by Potlatch Forest pursuant to the Indenture, dated December 18, 1995, to U.S. Bank National Association, successor to First Trust of California, National Association, as trustee, as amended, restated, supplemented or modified from time to time.
Notwithstanding the foregoing, the Vice President, Human Resources of Potlatch Forest Products Corporation shall have the power and authority to amend the Plan with respect to any amendment that (i) does not materially increase the cost of the Plan to the Company or (ii) is required to comply with new or changed legal requirements applicable to the Plan, including, but not limited to, section 409A of the Code.
Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of a Subsidiary and subject to the provisions of Section 2.16, such Letter of Credit shall be deemed to be for the account of Potlatch Forest, in the case of any Subsidiary that is a REIT, and Potlatch Land & Lumber, in the case of all other Subsidiaries, and the applicable Borrowers shall be obligated to reimburse the L/C Issuer hereunder for any and all drawings under such Letter of Credit.
The Clearwater Paper Corporation Salaried Supplemental Benefit Plan (the “Plan”) is a restatement and continuation of the Potlatch Forest Products Corporation Supplemental Benefit Plan II, which was established by Potlatch Forest Products Corporation effective January 1, 2005.
In accordance with the foregoing, the retirement benefits guaranteed to Mr. Stinnett in his Offer Letter, dated July 18, 2006 and accepted by Mr. Stinnett on July 21, 2006, will be provided under this Addendum B to the Plan to the extent that such minimum retirement benefits are not provided by any other section of the Plan or under any other section of the Potlatch Forest Products Corporation Salaried Employees Retirement Plan or the Potlatch Forest Products Corporation Salaried Employees’ Savings Plan.
The Plan is intended to be a deferred compensation plan, for the benefit of a select group of management or highly compensated employees of Potlatch Forest Products Corporation and its affiliates (the “Corporation”).
In accordance with the foregoing, the minimum pension benefit guaranteed to Mr. Covey in his Employment Agreement dated February 6, 2006 will be provided under this Addendum A to the Plan to the extent that such minimum pension benefit is not provided by any other section of the Plan or under any other section of the Potlatch Forest Products Corporation Salaried Employees Retirement Plan.
The relevant section of Mr. Stinnett’s Offer Letter is reproduced below: You will be considered 100% vested immediately in any benefit you accrue under the terms of the Potlatch Forest Products Corporation Salaried Retirement Plan and Potlatch Forest Products Corporation Salaried Savings Plan (“Qualified Plans”) and the Potlatch Corporation Supplemental Retirement Plan (“Non Qualified Plan”).
The Potlatch Forest Products Corporation Severance Program for Executive Employees, formerly known as the Potlatch Corporation Severance Program for Executive Employees (the “Program”) was adopted effective September 30, 1978, by Potlatch Corporation and was assumed by Potlatch Forest Products Corporation (the “Corporation”) effective December 30, 2005, to provide a program of severance payments to certain employees of Potlatch Corporation, the Corporation, and their designated subsidiaries.