Common use of Qualified Retirement Plans Clause in Contracts

Qualified Retirement Plans. While you are an employee of Times Mirror or any of its divisions or subsidiaries (for purposes of this attachment "Times Mirror"), you will continue to be eligible to participate in Times Mirror's retirement plans in accordance with the respective terms and limitations of each plan. Provided you are an employee of Times Mirror as of the Effective Date, accrued benefits earned as of the Effective Date under Times Mirror's retirement plans will become fully vested. Vesting will apply to any accrued benefits under Times Mirror's pension plan(s) and your company matching account under the Times Mirror Savings Plus Plan. The retirement plans provide for a maximum of one year of benefit accrual service or salary credit for severance payments (excluding any non-qualified deferrals), subject to statutory limits in the Internal Revenue Code, including but not limited to maximum deferrals, benefits or covered compensation. After your termination of employment, you will be entitled to receive any vested accrued benefits under Times Mirror's retirement plans in accordance with the terms of the plans and any elections you make under the plans. Distributions under each plan shall be made in accordance with the terms and procedures of each respective plan based on your participation under the plans.

Qualified Retirement Plans. While you are an employee of Times Mirror or any of its divisions or subsidiaries (for purposes of this attachment "Times Mirror"), you will continue to be eligible to participate in Times Mirror's retirement plans in accordance with the respective terms and limitations of each plan. Provided you are an employee of Times Mirror as of the Effective Date, accrued benefits earned as of the Effective Date under Times Mirror's retirement plans will become fully vested. Vesting will apply to any accrued benefits under Times Mirror's pension plan(s) and your company matching account under the Times Mirror Savings Plus Plan. The retirement plans provide for a maximum of one year of benefit accrual service or and salary credit for severance payments (excluding any non-qualified deferrals), subject to statutory limits in the Internal Revenue Code, including but not limited to maximum deferrals, benefits or covered compensation. After your termination of employment, you will be entitled to receive any vested accrued benefits under Times Mirror's retirement plans in accordance with the terms of the plans and any elections you make under the plans. Distributions under each plan shall be made in accordance with the terms and procedures of each respective plan based on your participation under the plans.