Nonqualified Plans Sample Clauses

Nonqualified Plans. If the Officer participated in any nonqualified retirement and/or deferred compensation plan(s) of the Company immediately prior to the time of such termination, the Company shall not cause or allow the termination of, reduction of benefits under, or termination or impairment of any arrangement established to secure payment of benefits under, any such plan with respect to the Officer. Further, the Company or subsidiaries will provide the Officer with service credit for benefits under any nonqualified retirement or deferred compensation plan(s) of the Company, if the Officer participated in such plan(s) immediately prior to the time of such termination, equal to two additional years' service accruals upon such termination of the Officer's employment; and
Nonqualified Plans. Buyer shall assume all liabilities and obligations of Seller and its Affiliates with respect to each Transferred Employee under or in connection with the Seller Benefit Plans that are excess benefit plans or nonqualified defined benefit pension plans. Seller shall retain all liabilities and obligations with respect to the Transferred Employees under or in connection with any Seller Benefit Plan that is a nonqualified defined contribution benefit plan.
Nonqualified Plans. (i) As of the day after the Closing Date, ------------------ Affected Employees shall be eligible to participate in Buyer's Stock Unit Retirement Plan and Deferred Compensation Plan in accordance with their terms and consistently with employees of Buyer in comparable employment positions.
Nonqualified Plans. Notwithstanding the first two sentences of Section 2.03(b) of the Employee Matters Agreement, ILG shall amend its existing nonqualified deferred compensation plan (the “ILG Deferred Compensation Plan”) as of the Closing Date to provide for participation in the ILG Deferred Compensation Plan by Vistana Employees who were participants in the Starwood Deferred Compensation Plan immediately prior to the Closing Date on terms and conditions (other than with respect to investment options) that are substantially similar to what was provided to them under the Starwood Deferred Compensation Plan and pursuant to the remainder of Section 2.03 of the Employee Matters Agreement. Notwithstanding the foregoing, neither ILG nor Vistana shall be under any obligation to offer any employees the opportunity to make future deferral elections under the ILG Deferred Compensation Plan, and if any future deferral elections are offered under the ILG Deferred Compensation Plan, neither ILG nor Vistana shall be under any obligation to make deferral elections available under the same terms as applied under the Starwood Deferred Compensation Plan. References in the Employee Matters Agreement to the “Vistana Deferred Compensation Plan” shall be deemed to be references to the “ILG Deferred Compensation Plan,” as amended. References to the actions to be taken “prior to the Closing Date” in the first sentence of each of Sections 2.03(c)(A) and 2.03(c)(B) of the Employee Matters Agreement shall be deemed to mean “as of the Closing Date.”
Nonqualified Plans. The Pluto Group shall retain, and no member of the Spinco Group shall assume or retain sponsorship of, or any Assets or Liabilities with respect to, the Pluto Nonqualified Plans.
Nonqualified Plans. Effective as of the Closing Date, the U.S. Purchaser shall assume sponsorship of and all rights, powers, duties, liabilities and obligations of MCI and its Affiliates under and with respect to each of the Reliance Comm/Tec Corporation Supplemental Retirement Plan for Key Employees and the Reliance Comm/Tec Corporation Special Retirement Program for Elected Officers (collectively, the “Supplemental Plans”). The aggregate amount of such assumed liabilities and obligations under the Supplemental Plans have been valued using reasonable actuarial assumptions consistent with U.S. GAAP and the FAS 87 assumptions set forth in the March 31, 2004 footnote disclosure previously provided to the U.S. Purchaser. For periods after the Closing Date, none of MCI or any of its Affiliates shall have any liability under or with respect to either of the Supplemental Plans. Nothing in this Section 11.16 shall relieve MCI or any of its affiliates for breaches of Section 4.17. The Sellers have provided the Purchasers with a copy of the most recent actuarial report for the Supplemental Plans.
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Nonqualified Plans. Effective as of the Closing Date, Buyer shall cause ASFC to continue to maintain the ASFC Executives' Excess Compensation Pension Benefit Plan (or Benefit Plans of Buyer or ASFC that either are substantially equivalent or are at least as favorable in the aggregate to the ASFC Executives) and the ASFC Employees' Supplemental Pension Benefit Plan until at least the last day of the month that is 12 months after the month in which the Closing Date falls (the "Benefits Continuation Date"). Buyer shall cause ASFC to continue to be responsible for any liabilities to Transferred Employees, and any former employees of ASFC or any of ASFC's Subsidiaries, under the LNC Executive Deferred Compensation Plan for Employees as of the Closing Date and shall either (i) provide for the payment of such liabilities under a deferred compensation plan maintained by Buyer for Buyer's employees or (ii) cause ASFC to establish a deferred compensation plan on terms substantially similar to a plan maintained by Buyer for Buyer's employees or the LNC Executive Deferred Compensation Plan for Employees and continue to maintain such plan until at least the Benefits Continuation Date.
Nonqualified Plans. Without limiting the generality of the foregoing, during the Continuation Period: (i) PanEnergy's executive benefit plans and programs as in effect at the Effective Time shall continue in effect without any amendment that could adversely affect PanEnergy Employees who are participants therein as of the Effective Time (including without limitation any amendment that reduces the rate at which benefits are accrued), (ii) PanEnergy Employees shall be entitled to severance benefits in amounts and upon terms and conditions no less favorable than those in effect for such individuals as of the Effective Time, including without limitation (A) any severance benefits under plans or policies taking effect upon the Effective Time, and (B) outplacement services consistent with the practice of PanEnergy before the Effective Time. This paragraph (b) shall not apply with respect to base salary, annual bonuses, stock options, restricted stock and/or severance pay provided to any employee of PanEnergy who has entered into an employment agreement in accordance with Section 8.16 of this Agreement. (c)
Nonqualified Plans. Seller shall comply fully with, and Buyer shall assume no liability or responsibility whatsoever with respect to the Southern Union Company Supplemental Deferred Compensation Plan, which is a nonqualified pension plan maintained by Seller.
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