RemainCo SERP definition

RemainCo SERP means the Hxxxxxxxxxx Industries, Inc. Supplemental Executive Retirement Plan.
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RemainCo SERP means the Supplemental Executive Retirement Plan of The Babcock & Wilcox Company.
Sample 1

Examples of RemainCo SERP in a sentence

  • Effective as of the Distribution Date, SpinCo hereby agrees to cause the SpinCo SERP to assume responsibility for all liabilities and fully perform, pay and discharge all obligations, when such obligations become due, of the RemainCo SERP with respect to all SpinCo Participants therein.

  • Effective as of the Distribution Date, SpinCo shall, or shall cause a member of the SpinCo Group to, establish a non-qualified deferred compensation plan to benefit SpinCo Participants who have accrued, or were eligible to accrue, benefits under the RemainCo SERP immediately prior to the Distribution Date, the terms of which are substantially comparable, in the aggregate, to the terms of the RemainCo SERP as in effect immediately prior to the Distribution Date (the “SpinCo SERP”).

  • Each member of the SpinCo Group shall cease to be a participating employer in the RemainCo SERP, and the SpinCo Employees and the Former SpinCo Employees shall no longer participate in the RemainCo SERP, each effective as of the Employee Transfer Date, unless any such SpinCo Employee or Former SpinCo Employee shall become employed by any member of the RemainCo Group after such date and such member participates in the RemainCo SERP and such employee is eligible for participation therein.

  • RemainCo shall have sole responsibility for the administration of each RemainCo Excess Plan, the RemainCo SERP, the RemainCo Restoration Plan and the RemainCo SPP and the payment of benefits thereunder to or on behalf of RemainCo Employees and Former RemainCo Employees, and no member of the SpinCo Group shall have any liability or responsibility therefor.

  • The liabilities attributable to SpinCo Employees and Former SpinCo Employees in the RemainCo SERP shall be assumed by a member of the SpinCo Group which sponsors the SpinCo New SERP, effective as of the Employee Transfer Date.

Related to RemainCo SERP

  • RemainCo shall have the meaning set forth in the Preamble.

  • Remainco Group means RemainCo and its Subsidiaries, other than the SpinCo Group.

  • SpinCo Employee means any individual who, as of the Effective Time, is employed by or will be employed by Spinco or any member of the Spinco Group, including active employees and employees on vacation and approved leave of absence (including maternity, paternity, family, sick leave, qualified military service under the Uniformed Services Employment and Reemployment Rights Act of 1994, short- or long-term disability leave, leave under the Family Medical Leave Act and other approved leave).

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Welfare Plans shall have the meaning set forth in Section 3.2.4.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • SpinCo Group means (a) prior to the Effective Time, SpinCo and each Person that will be a Subsidiary of SpinCo as of immediately after the Effective Time, including the Transferred Entities, even if, prior to the Effective Time, such Person is not a Subsidiary of SpinCo; and (b) on and after the Effective Time, SpinCo and each Person that is a Subsidiary of SpinCo.

  • Welfare Plan means a “welfare plan” as defined in Section 3(1) of ERISA.

  • SpinCo shall have the meaning set forth in the Preamble.

  • Thrift Plan means the Financial Institutions Thrift Plan, a qualified and tax-exempt defined contribution plan and trust under Sections 401(a) and 501(a) of the Code, as adopted by the Bank.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • SpinCo Separate Return means any Separate Return of SpinCo or any member of the SpinCo Group.

  • Transferred Employees has the meaning set forth in Section 6.4(a).

  • Transferred Employee has the meaning set forth in Section 6.01(a).

  • Parent Benefit Plans has the meaning set forth in Section 5.07(b).

  • Returning Employees means those persons listed in a schedule to be agreed by the Parties prior to the end of the Contract Period who it is agreed were employed by the Contractor (and/or any Sub-Contractor) wholly or mainly in the supply of the Services immediately before the end of the Contract Period.

  • Old Plans has the meaning set forth in Section 6.8(b).

  • Company Plans has the meaning set forth in Section 4.10(a).

  • Savings Plan or "plans" means a plan that provides different investment strategies and allows account distributions for qualified higher education expenses.

  • Company Employee Plans has the meaning set forth in Section 3.12(a).

  • Qualified Plans has the meaning set forth in Section 5.20.

  • Parent Plans has the meaning set forth in Section 6.4(c).

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Continuing Employee has the meaning set forth in Section 6.7(a).

  • Company Benefit Plans has the meaning set forth in Section 3.16(a).

  • Compensation Plans shall have the meaning set forth in Section 3.11(b).