Nonqualified Retirement Plans. Employee shall be eligible to participate in both the Executive Salary Continuation Plan and the Executive Deferred Compensation Plan, each amended and restated effective as of January 1, 2007, as such plans may be amended from time to time by Employer’s Board of Directors and as determined by the President and Chief Executive Officer.
Nonqualified Retirement Plans. Effective as of the Distribution Date, UNOVA shall assume, and shall indemnify the Western Atlas Indemnitees from and against, all Liabilities with respect to (i) the Supplemental Retirement Agreement between Western Atlas Inc. and Xxxxx X. Xxxxx (dated March 17, 1994) and all participants under the Western Atlas Inc. Restoration Plan, (ii) UNOVA Participants and UNOVA Former Employees under the Western Atlas Inc. Supplemental Executive Retirement Plan and (iii) UNOVA-only Directors under the Western Atlas Inc. Deferred Compensation Plan for Directors. UNOVA represents that it has established plans on substantially the same terms as the Western Atlas Nonqualified Plans pursuant to which each participant for whom UNOVA has assumed Liabilities will be credited with the term of service credited to such participant as of the Distribution Date under the Western Atlas Nonqualified Plans, as if such service had been rendered to UNOVA.
Nonqualified Retirement Plans. Unless otherwise required by non-U.S. law, where applicable, Merck will report and withhold, as necessary, on Merck SERP and Merck DCP distributions with respect to Liabilities it retains under Sections 3.03 and 3.04(b) with respect to Merck Employees, Former Employees, and Organon Employees. Merck shall be entitled to claim the benefit of any tax deductions with respect to the amounts paid under such plans.
Nonqualified Retirement Plans. Effective as of the Time of Contribution, Newco shall assume liability for and shall pay when due all benefits accrued as of the Time of Contribution by, and attributable to, employees and former employees of the Company and its Subsidiaries (other than Company Group Continuing Employees and Company Group Former Employees) under the Rockwell International Corporation Supplemental Retirement Plan for Highly Compensated Employees, the Rockwell International Corporation Excess Benefit Retirement Plan and the Rockwell
Nonqualified Retirement Plans. (a) Any U.S. Transferred Employee who was a participant in the Motorola Supplemental Pension Plan (the “MSPP”) will continue to remain a participant until 11:59 p.m. on the day preceding the Distribution Date. On or after the Distribution Date, such U.S. Transferred Employees will be eligible to receive a distribution of any benefits to which they are entitled under the MSPP but such distributions will be made at the time and in the manner provided for under the MSPP.
Nonqualified Retirement Plans. Notwithstanding anything in this Agreement to the contrary, as of the Distribution Date, CIT shall retain all Assets and Liabilities with respect to the New Executive Retirement Plan of CIT Group Inc., the CIT Group Inc. Supplemental Retirement Plan and the CIT Group Inc. Supplemental Savings Plan.
Nonqualified Retirement Plans. Effective as of the Distribution Date, UNOVA shall assume and shall indemnify the Western Atlas Indemnitees from and against all Liabilities with respect to UNOVA Participants and UNOVA Former Employees and UNOVA-only Directors under the Western Atlas Inc. Restoration Plan, the Western Atlas Inc. Supplemental Executive Retirement Plan (the "SERP"), the Supplemental Retirement Agreement between Western Atlas Inc. and Xxxxx X. Xxxxx (dated March 17, 1994), and the Western Atlas
Nonqualified Retirement Plans. NRG shall retain all Liabilities under the NRG Energy Deferral and Restoration Plan (the “Retained Nonqualified Plan”). Each GenOn Employee shall, as of the Effective Date, cease participation in the Retained Nonqualified Plan. As of the Effective Date, NRG shall take all actions necessary to: (i) fully vest all GenOn Employees in their account balances, to the extent any are unvested, and (ii) cause GenOn Employees to receive their benefits from the Retained Nonqualified Plan in accordance with the terms of the plan in effect as of the date hereof.
Nonqualified Retirement Plans. As of the Closing Date, Central Investment LLC shall fully fund or assume all obligations then accrued under those nonqualified deferred compensation or retirement plans or arrangements whether written or unwritten which have been or are in effect for employees of Acquired Companies. The parties agree that the consummation of the Contemplated Transactions shall not constitute a “separation from service” or other termination of employment for purposes of the nonqualified deferred compensation or retirement plans or arrangements of Central Investment LLC. Prior to the Closing Date, Central Investment LLC shall make any amendments to its nonqualified deferred compensation or retirement plans or arrangements for the purpose of providing that no such separation or other termination shall have occurred.
Nonqualified Retirement Plans
