Prior Plan Clause Samples
The "Prior Plan" clause defines how benefits, coverage, or obligations under a previous insurance or benefit plan are treated when a new plan takes effect. Typically, this clause outlines whether and how claims incurred before the new plan's effective date are handled, and may specify if certain waiting periods or coverage limits from the prior plan are credited under the new plan. Its core function is to ensure a smooth transition between plans, preventing gaps in coverage and clarifying the handling of ongoing claims or benefits.
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Prior Plan. The Plan was last maintained under document dated January 1, 2020___ and was known as the C&F Financial Corporation Deferred Compensation Plan for Executives . (C)409A Transitional Provisions (grandfathering election): oElection NOT to Grandfather Pre-January 1, 2005 Vested Balances. If this Option is elected, all Deferral Accounts shall be subject to the rules set forth in the post-December 31, 2004 restatements. If the Option is not elected, the Deferral Accounts attributable to transfers from predecessor plans prior to December 31, 2004 and contributions that are vested as of December 31, 2004 shall be segregated from the Deferral Accounts attributable to contributions that are not vested as of December 31, 2004 and to contributions and transfers made on and after January 1, 2005. The terms of the Plan in effect on and after January 1, 2005 shall only apply to transfers and contributions that are not vested as of December 31, 2004 and to contributions and transfers made on and after January 1, 2005. o(3)
Prior Plan. The Plan was last maintained under document dated January 1, 1997 and was known as the VBA Director’s Non-Qualified Deferred Compensation Plan for C&F Financial Corporation.
Prior Plan. The term "Prior Plan" means the Indianapolis Power & Light Company Unfunded Supplemental Retirement Plan for a Select Group of Management Employees, as amended through October 31, 1988. The retired participants or, if applicable, the surviving spouses of deceased participants in the Prior Plan shall continue to receive their benefits in accordance with the Prior Plan.
Prior Plan. The Plan was last maintained under document dated , and was known as the
Prior Plan. Awards that are outstanding under the Prior Plan immediately prior to the Effective Date (“Prior Plan Awards”) shall remain outstanding following the Effective Date in accordance with their terms; however, no new awards may be granted pursuant to the Prior Plan on or after April 19, 2016. With respect to Prior Plan Awards, in accordance with Section 4.2(a) of the Prior Plan, if such a Prior Plan Award, on or after the Effective Date, lapses, expires, terminates or is canceled prior to the issuance of shares thereunder or if shares of Stock are issued under the Prior Plan to a Participant and thereafter are reacquired by the Company, the shares subject to such Prior Plan Awards and the reacquired shares shall again be available for issuance under the Plan. In addition, the following shares of Stock shall not be treated as having been issued under the Prior Plan and shall again be available for issuance under the Plan: (i) shares tendered by a Participant or retained by the Company as full or partial payment to the Company for the purchase price of a Prior Plan Award or to satisfy tax withholding obligations in connection with a Prior Plan Award, (ii) shares covered by a Prior Plan Award that is settled in cash, or (iii) the number of shares subject to a Prior Plan SAR in excess of the number of shares that are delivered to the Participant upon exercise of such Prior Plan SAR. Further, the number of shares available for issuance under the Prior Plan shall not be reduced to reflect any dividends or dividend equivalents that are reinvested into additional shares or credited as additional Restricted Stock, Restricted Stock Units or Performance Shares.
Prior Plan. Prior Plan" shall mean the Connecticut Municipal Employees Retirement Fund, as constituted on June 30, 1971.
Prior Plan. The Hastings Books, Music & Video, Inc. Employees Profit Sharing Plan and Trust, as established effective June 1, 1993.
Prior Plan. The Plan was last maintained under document dated January 1, 2008 and was known as the VBA Executive Deferred Compensation Plan for C&F Financial Corporation
Prior Plan. The Plan was last maintained under document dated January 1 , 2018 . and was known as the Union Bankshares Corporation Executive's Deferred Compensation Plan _______________________________________________________________________________ ______________________________________________________________________________.
Prior Plan. The Plan was last maintained under document dated February 28, 2005 and was known as the VBA Executive’s Deferred Compensation Plan for C&F Financial Corporation