Defined Benefit Plans. The Company has not maintained or contributed to a defined benefit plan as defined in Section 3(35) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). No plan maintained or contributed to by the Company that is subject to ERISA (an “ERISA Plan”) (or any trust created thereunder) has engaged in a “prohibited transaction” within the meaning of Section 406 of ERISA or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”) that could subject the Company to any material tax penalty on prohibited transactions and that has not adequately been corrected. Each ERISA Plan is in compliance in all material respects with all reporting, disclosure and other requirements of the Code and ERISA as they relate to such ERISA Plan, except for any noncompliance which would not result in the imposition of a material tax or monetary penalty. With respect to each ERISA Plan that is intended to be “qualified” within the meaning of Section 401(a) of the Code, either (i) a determination letter has been issued by the Internal Revenue Service stating that such ERISA Plan and the attendant trust are qualified thereunder, or (ii) the remedial amendment period under Section 401(b) of the Code with respect to the establishment of such ERISA Plan has not ended and a determination letter application will be filed with respect to such ERISA Plan prior to the end of such remedial amendment period. The Company has never completely or partially withdrawn from a “multiemployer plan,” as defined in Section 3(37) of ERISA.
Defined Benefit Plans. The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined benefit plan" (as defined in Section 3(35) of ERISA), whether or not terminated.
Defined Benefit Plans. Neither the Company nor any of the Subsidiaries is engaged in any unfair labor practice. Except for matters that would not, individually or in the aggregate, have a Material Adverse Effect, (i) there is (A) no unfair labor practice complaint pending or, to the Company’s or the Operating Partnership’s knowledge, threatened against the Company or any of the Subsidiaries before the National Labor Relations Board, and no grievance or arbitration proceeding arising out of or under collective bargaining agreements is pending or, to the Company’s or the Operating Partnership’s knowledge, threatened; (B) no strike, labor dispute, slowdown or stoppage pending or, to the Company’s or the Operating Partnership’s knowledge, threatened against the Company or any of the Subsidiaries; and (C) no union representation dispute currently existing concerning the employees of the Company or any of the Subsidiaries; (ii) to the Company’s or the Operating Partnership’s knowledge, no union organizing activities are currently taking place concerning the employees of the Company or any of the Subsidiaries; and (iii) there has been no violation of any federal, state, local or foreign law relating to discrimination in the hiring, promotion or pay of employees, any applicable wage or hour laws or any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) or the rules and regulations promulgated thereunder concerning the employees of the Company or any of the Subsidiaries.
Defined Benefit Plans. 7 3.1 FREEZING OF PENSION PLAN BENEFITS................................7 3.2 CREDITING SERVICE UNDER ATI'S PENSION PLAN.......................7
Defined Benefit Plans. Seller shall cause each Transferred --------------------- Employee to become fully vested in his accrued benefit under any tax-qualified defined benefit pension plan maintained by Seller (a "Seller Pension Plan") in ------------------- which such Transferred Employee participates as of the Closing. Seller will amend each Seller Pension Plan to provide for the continuing eligibility for early retirement of each Transferred Employee who does not, as of the Closing Date, qualify for an early retirement benefit thereunder, and for this purpose shall treat service with the Company as service with Seller. If any such Transferred Employee remains employed by the Company until he qualifies for early retirement, then such plans will treat such Transferred Employee as having elected early retirement when he retires from the Company. Such early retirement benefit shall be based solely upon service and compensation earned prior to the Closing. The Company will provide Seller with as much notice as possible of the retirement of any such Transferred Employee. Seller shall calculate the difference between the lump sum benefit payable to such Transferred Employee as an early retiree and the lump sum benefit payable to such Transferred Employee as a deferred vested benefit on the date of retirement from the Company and under the provisions of the applicable Seller Pension Plan, determined in the same manner that such plan calculates lump sum benefits at the time such Transferred Employee shall retire. The Company shall pay Seller such difference within 60 days of such transferred Employee's retirement. In addition, should the Company institute any reduction in force, early retirement window program or otherwise provide any financial inducement that results in the termination of employment of any Transferred Employee who, as of the Closing, qualifies for an early retirement benefit under a Seller Pension Plan, Buyer shall cause the Company to promptly pay to Seller an amount equal to the incremental cost of providing such early retirement benefit. Such cost shall be determined by an enrolled actuary engaged by Seller based on the excess of the present value of such subsidized early retirement benefits for all such Transferred Employees over the present value of the accrued benefits for all such Transferred Employees determined as if such employees had not elected to commence retirement benefits and using normal actuarial assumptions with respect to projected retirement date...
Defined Benefit Plans. 8 3.1 ESTABLISHMENT OF TELEDYNE TECHNOLOGIES PENSION PLAN AND TRUST...........................8 3.2 ASSUMPTION OF PENSION PLAN LIABILITIES AND ALLOCATION OF INTERESTS IN THE ATI MASTER PENSION TRUST...................................................................8 3.3 FREEZING OF PENSION PLAN BENEFITS.......................................................9 3.4 CREDITING SERVICE UNDER ATI'S PENSION PLAN..............................................9
Defined Benefit Plans. 33 Section 6.03
Defined Benefit Plans. With respect to each of the Retirement Income Plan for Salaried Employees of Essex Group, Inc. (the "Salaried Plan") and the Retirement Income Plan for Hourly Employees of Essex Group, Inc. (the "Hourly Plan", together with the Salaried Plan, the "Seller Pension Plans"), the parties agree as follows:
Defined Benefit Plans. HI does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined benefit plan" (as defined in Section 3(35) of ERISA), whether or not terminated.
Defined Benefit Plans. The Company shall provide one (1) year additional service and compensation credit (at the Executive's then compensation level) for benefit purposes under any defined benefit type retirement plan, including the SERP if then in effect, and, if the Executive is not eligible to receive benefits under any such plan on the date of termination, one (1) additional year of age for determining eligibility to receive such benefits, provided that with regard to any plan qualified under Section 401(a) of the Code the additional amounts may be provided on a nonqualified plan basis;
