Pension and Profit Sharing Plans. Executive shall be entitled to participate in any pension or profit sharing plan or other type of plan adopted by Company for the benefit of its officers and/or regular employees.
Pension and Profit Sharing Plans. Employee shall be entitled to participate in any pension or profit sharing plan or other type adopted by the Employer for the benefit of its officers and/or regular employees.
Pension and Profit Sharing Plans. Executive shall be entitled to participate in any pension or profit sharing plan or other type of plan adopted by Company for the benefit of its officers and/or regular employees. Executive shall be entitled to receive stock incentives from Company, said incentives may be in the form of Stock Option, Warrants or other form of stock of the Company. Such Stock incentives are to be approved by the Board of Directors. Executive will also have the right to sell his stock from time to time, as per SEC regulations.
Pension and Profit Sharing Plans. Except as disclosed in Schedule 3(z) of this Agreement, the Company does not have in effect any pension, profit sharing or other employee benefit plan described under Section 3(2)(A) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). All benefits payable under any terminated employee pension benefit plan (as such term is defined in Section 3(2)(A) of ERISA) previously maintained by the Company or to which it has previously contributed have been paid in full and/or that the Company does not have any unfunded liability in respect of any such plan to the Pension Benefit Guaranty Corporation or to the participants in such plan or to the beneficiaries of such participants. Each such terminated plan was terminated substantially in accordance with the applicable provisions of law or any agreement or contract relating to any such plan and has been terminated without liability to the Company.
Pension and Profit Sharing Plans. All pension and profit-sharing plans, trusts established thereunder and assets thereof, if any, of Seller.
Pension and Profit Sharing Plans. Executive shall be entitled to a percentage equal to Fifteen percent (15%) of the Company's net profits. Further, Executive shall be entitled to participate in any pension or profit sharing plan or other type of plan adopted by Company for the benefit of its officers and/or regular employees
Pension and Profit Sharing Plans. During the Term of this Agreement, the Executive shall be entitled to participate, at the Company's expense, in all pension, profit sharing and retirement plans now existing or hereafter established by the Company for employees of the Company (to the extent permitted by the terms of each such plan); provided, that such plans will remain in effect only for so long as the Board of Directors deems it to be in the best interest of the Company to do so. As of the Commencement Date, the Company's only plan is a 401(k) plan.
Pension and Profit Sharing Plans. The Employee Benefit Plans described on Exhibit 3.16.2 have been duly authorized by the Board of Directors of Company. Each such plan is qualified in form and operation under Sections 401(a) and 501(a) of the Internal Revenue Code of 1986 (the “Code”) and no event has occurred which will or could give rise to disqualification of any such plan under said Sections. No event has occurred which will or could subject any such plans to tax under Section 511 of the Code. No prohibited transaction (within the meaning of Section 4975 of the Code) or party-in-interest transaction (within the meaning of Section 406 of ERISA) has occurred with respect to any of such Plans. All costs of Plans have been provided for on the basis of consistent methods in accordance with sound actuarial assumptions and practices. As of the last valuation date for each of the Plans listed which are pension plans (“Employee Benefit Pension Plans”) within the meaning of Section 3(2) of ERISA, the assets of such plan exceeded (or were less than the benefit liability of such plan), computed on a plan termination basis, by at least the amount shown below (or, in the case of an underfunded plan, by no more than the amount shown below): Plan Amounts by which assets exceed (or are less than) benefit liability on a plan termination basis $ $ $ $ Since the last valuation date for each Employee Pension Benefit Plan, there has been no amendment or change thereunder and, to the knowledge of Company, there has been no event or occurrence which would cause the excess of assets over benefit liabilities listed above to be reduced or the amount by which liabilities exceeded assets as listed above to be increased. Company has delivered to counsel for the Investors for each of the Employee Pension Benefit Plans (a) a copy of the Form 5500 which was filed in each of the most recent three plan years, including, without limitation, all schedules thereto and all financial statements with attached opinions of independent accountants, (b) a copy of the Form PBGC-1 which was filed in each of the most recent three Plan years, and (c) the most recent determination letter from the Internal Revenue Service. Copies have been furnished to such counsel of (a) the consolidated statement of assets and liabilities of each of the Employee Pension Benefit Plans as of its most recent valuation date; (b) the statement of changes in fund balance and in financial position or the statement of changes in net assets available for bene...
Pension and Profit Sharing Plans. Employee shall be entitled to participate in any pension or profit sharing plan or other type adopted by the Employer for the benefit of its officers and/or regular employees. f) Expense Reimbursement. Employee shall be entitled to reimbursement for all reasonable expenses, including travel and entertainment, incurred by Employee in the performance of Employee's duties. Employee shall maintain records and written receipts as required by the Employer and reasonably requested by the board of directors to substantiate such expenses. 6.
Pension and Profit Sharing Plans. Xxxxxxx shall be entitled to participate in the 401K plan and quarterly profit sharing plan adopted by the Company for the benefit of its officers and/or regular employees.
