Benefit Guarantees Sample Clauses

Benefit Guarantees. On and after the Distribution Date, a Retained Employee's and Terminee's right, if any, to receive benefits under the Manor Care, Inc. Nonqualified Retirement Savings and Investment Plan shall be the responsibility of Manor Care. However, the payment of any benefits due under the Manor Care, Inc. Nonqualified Retirement Savings and Investment Plan for the first thirty (30) months following the Distribution Date shall be guaranteed by Choice, to the extent not otherwise paid by Manor Care. On and after the date of the establishment of the Choice Hotels International, Inc. Nonqualified Retirement Savings and Investment Plan, a Choice Individual's right to receive benefits under the Choice Hotels International, Inc. Nonqualified Retirement Savings and Investment Plan shall be the responsibility of Choice. However, the payment of any benefits due under the Choice Hotels International, Inc. Nonqualified Retirement Savings and Investment Plan which are attributable to the transferred accrued benefits earned under the Manor Care, Inc. Deferred Compensation Plan shall be guaranteed by Manor Care for the first thirty (30) months following the Distribution Date, to the extent not otherwise paid by Choice.
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Benefit Guarantees. On and after the Distribution Date, a Retained Employee's or a Terminee's right, if any, to receive benefits under the Manor Care, Inc. Supplemental Executive Retirement Plan shall be the responsibility of Manor Care. However, the payment of any benefits due under the Manor Care, Inc. Supplemental Executive Retirement Plan for the first thirty (30) months following the Distribution Date shall be guaranteed by Choice, to the extent not otherwise paid by Manor Care. On and after the Distribution Date, a Choice Individual's right to receive benefits under the Choice Hotels International, Inc. Supplemental Executive Retirement Plan shall be the responsibility of Choice. However, the payment of any benefits due under the Choice Hotels International, Inc. Supplemental Executive Retirement Plan which are attributable to the transferred accrued benefits earned under the Manor Care, Inc. Deferred Compensation Plan shall be guaranteed by Manor Care for the first thirty (30) months following the Distribution Date, to the extent not otherwise paid by Choice.
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Benefit Guarantees. On and after the Distribution Date, a ------------------ Retained Employee's, Terminee's or Sunburst director's right to receive benefits under the Sunburst Hospitality Corporation Deferred Compensation Plan shall be the responsibility of Sunburst. However, the payment of any benefits due under the Sunburst Hospitality Corporation Deferred Compensation Plan for the first thirty (30) months following the Distribution Date shall be guaranteed by Choice, to the extent not otherwise paid by Sunburst. On and after the Distribution Date, a Choice Individual's right to receive benefits under the Choice Hotels International, Inc. Deferred Compensation Plan shall be the responsibility of Choice. However, the payment of any benefits due under the Choice Hotels International, Inc. Deferred Compensation Plan which are attributable to the transferred accrued benefits earned under the Sunburst Hospitality Corporation Deferred Compensation Plan shall be guaranteed by Sunburst for the first thirty (30) months following the Distribution Date, to the extent not otherwise paid by Choice.
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Benefit Guarantees. Benefit guarantee
Sample 1

Related to Benefit Guarantees

  • Pension Plan 15.01 The CLAC Pension Plan (“the Plan”), a defined contribution pension plan, is registered with the Canada Revenue Agency. The Plan applies to all employees covered by this Agreement.

  • Employee Benefit Plans and Related Matters; ERISA (a) Section 4.17(a) of the Parent Disclosure Schedule sets forth as of the date of this Agreement a true and complete list of the material Parent Benefit Plans, including all Parent Benefit Plans subject to ERISA. With respect to each such material Parent Benefit Plan, Parent has made available to the Company a true and complete copy of such Parent Benefit Plan, if written, or a description of the material terms of such Parent Benefit Plan if not written, and to the extent applicable, (i) any proposed amendments, (ii) all trust agreements, insurance contracts or other funding arrangements, (iii) the most recent actuarial and trust reports for both ERISA funding and financial statement purposes, (iv) the most recent Form 5500 with all attachments required to have been filed with the IRS or the Department of Labor and all schedules thereto, (v) the most recent IRS determination or opinion letter, and (vi) all current summary plan descriptions.

  • Benefit Plan If an employee maintains coverage for benefit plans while on maternity or parental leave, the Employer agrees to pay the Employer's share of these premiums.

  • Pension Benefits Each party reserves the right to retain as his or her sole and absolute separate property, the entire interest in pension benefits now vested, or that become vested in the future, and the right to manage, control, transfer, and convey all such property and dispose of the same by will, beneficiary designation or otherwise, without any interference from the other. The parties acknowledge that this Agreement shall constitute an effective waiver of any rights in the other's pension benefit plans. Furthermore, each party agrees to execute whatever additional waiver document may be necessary or useful to confirm such waiver of rights to the other party's pension benefit plans.

  • ERISA Plans and Liabilities All currently existing ERISA Plans are listed in the Disclosure Schedule. Except as disclosed in the Initial Financial Statements or in the Disclosure Schedule, no Termination Event has occurred with respect to any ERISA Plan and all ERISA Affiliates are in compliance with ERISA in all material respects. No ERISA Affiliate is required to contribute to, or has any other absolute or contingent liability in respect of, any "multiemployer plan" as defined in Section 4001 of ERISA. Except as set forth in the Disclosure Schedule: (i) no "accumulated funding deficiency" (as defined in Section 412(a) of the Code exists with respect to any ERISA Plan, whether or not waived by the Secretary of the Treasury or his delegate, and (ii) the current value of each ERISA Plan's benefits does not exceed the current value of such ERISA Plan's assets available for the payment of such benefits by more than $500,000.

  • Effect on Other Employee Benefit Plans The value of the Award subject to this Agreement shall not be included as compensation, earnings, salaries, or other similar terms used when calculating benefits under any employee benefit plan (other than the Plan) sponsored by the Company or any Affiliate except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any or all of the employee benefit plans of the Company or any Affiliate.

  • ERISA The Employee Retirement Income Security Act of 1974, as amended.

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan:

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