Retirement and Savings Plans. During the Term of Employment, the Executive shall be eligible to participate in all pension, retirement, savings, 401(k) and other employee pension benefit plans, policies and programs (the “Retirement Plans”) maintained by the Company from time to time for the benefit of senior executives and/or other employees. However, nothing in this Section 5.3 shall be construed to require the Company to establish or maintain any such Retirement Plans.
Retirement and Savings Plans. Effective as of the Termination Date, the Executive’s interest in all Relevant Plans shall become fully vested and nonforfeitable and the Executive’s right to and interest in all subsequent accruals provided for in the remainder of this Section 1.2(b) under any of the Relevant Plans shall also be fully vested and nonforfeitable. For the period beginning on the day after the Termination Date and ending eighteen months, to the day, after the Termination Date (the “Section 1.2 Benefit Period”), Key shall cause the Executive to continue to be covered by and to participate in all of the Relevant Plans in the same manner and to the same extent as if the Executive continued in the full-time employ of Key throughout the Section 1.2 Benefit Period, except that, if Key determines that such coverage or participation in any one or more of the Relevant Plans is Impermissible, the Executive shall continue to be covered by and participate as aforesaid in all of the Relevant Plans as to which such coverage or participation is not Impermissible and, with respect to each Relevant Plan as to which such continued coverage or participation is Impermissible, Section 1.4(b) shall apply. With respect to each Discontinued Plan, Section 1.4(c) shall apply.
Retirement and Savings Plans. During the Term of Employment and to the extent eligible, the Executive shall be entitled to participate in all pension, retirement, savings and other employee benefit plans and programs applicable to peer executives of the Company.
Retirement and Savings Plans. Effective as of the Termination Date, the Executive's interest in all Relevant Plans shall become fully vested and nonforfeitable and the Executive's right to and interest in all subsequent accruals provided for in the remainder of this Section 1.2(b) under any of the Relevant Plans shall also be fully vested and nonforfeitable. For the period beginning on the day after the Termination Date and ending eighteen months, to the day, after the Termination Date (the "Section 1.2
Retirement and Savings Plans. (i) If Executive was participating in any Retirement Plan or Savings Plan (each as defined in Exhibit A) immediately prior to an Involuntary Termination prior to, or after the second anniversary of, a Change of Control, the Executive will continue to accrue or be deemed to accrue benefits during the Compensation Period under such Retirement Plans and Savings Plans for purposes of benefit accrual and employer matching contributions, as applicable, based on the same formula and matching amount as in effect immediately prior to such Termination. If the Executive will have attained age 50 at the end of the Compensation Period with 10 years of service (including the Compensation Period), the Executive will, subject to the conditions of Paragraph 6, be deemed retired with the consent of the Company for the purposes of welfare and executive compensation plans but not for the purposes of any Retirement or Savings Plan. Notwithstanding any provision herein to the contrary, upon such a Termination pension benefits under any Retirement Plan based on "Average Final Compensation" will be calculated applying the rate of one year's Full Pay and the Executive's Annual Flexible Perquisite Allowance for each year in the Compensation Period.
Retirement and Savings Plans. 1. The University maintains several retirement and savings plans for eligible University employees. Currently, such plans include but are not limited to, the UC Retirement Plan (UCRP), Tax-Deferred 403(b) Plan, Defined Contribution Plan (DCP) and 457 (b) Deferred Compensation Plan, which collectively constitute the University of California Retirement System (UCRS). The University may at its option, alter, amend or terminate the existing UCRS plans and establish new retirement and/or saving plans for the UCRS. Such alterations include, but are not limited to altering eligibility criteria; altering or deleting current benefits; implementing the UCRP 2013 Tier for employees hired or who become UCRP eligible on or after July 1, 2013; altering employee and University rates of contribution, and changing the carrier or administrator for established plans or programs. In the event the University makes such alterations, (or proposes changes pursuant to Section B.5 below), the changes will apply to employees eligible for retirement benefits within the unit in the same manner as they apply to other eligible staff employees in the same tier. Where the University makes such alterations to a particular UCRP Tier (e.g., 1976, 2013), the changes will apply to eligible unit employees in the same manner as they apply to the other eligible staff employees in the same UCRP Tier, except in the earliest retirement age, age factors and employment contribution rates described in Section B.2. below shall not be reduced during the term of this Agreement.
Retirement and Savings Plans. Section 1. Attached and made part of this Agreement as Appendix C, as it applies to the employees described in Article 2 is the following: “United Technologies Corporation Represented Employee Retirement Plan”
Retirement and Savings Plans. Any participation by you in, and any terminating distributions and vested rights under, the Xxxxxx Dodge Retirement Plan, the Xxxxxx Dodge Employee Savings Plan, the Xxxxxx Dodge Corporation Supplemental Retirement Plan, and the Xxxxxx Dodge Corporation Supplemental Savings Plan, or any other retirement or savings plan sponsored by the Corporation, regardless of whether such plan qualifies for favorable tax treatment, shall be governed by the terms and conditions of those respective plans, as they may be amended from time to time.
Retirement and Savings Plans. (a) Effective no later than the Plan Transition Date and subject to the terms of any applicable Collective Bargaining Agreement, Cummins shall cause a member of the Filtration Group to adopt, establish, maintain or become a participating employer in a defined contribution savings plan and a trust that satisfies the requirements of Sections 401(a) and 401(k) of the Code and that is designed to be tax exempt under Section 501 of the Code in which each Filtration Employee who participated in a Cummins Retirement and Savings Plan immediately prior thereto shall be eligible to participate (the “Filtration Savings Plan”). Employer contributions under the Filtration Savings Plan shall be immediately fully vested. In addition, Filtration shall make any contributions and provide any additional benefits under the Filtration Savings Plan that are required to be provided pursuant to the terms of any applicable Collective Bargaining Agreement or pursuant to Section 2.4. As soon as practicable after the adoption of the Filtration Savings Plan, Filtration shall submit an application to the IRS for a determination that the Filtration Savings Plan is tax-qualified under Code Section 401(a) and that the related trust is exempt from federal income tax under Code Section 501(a) and shall take any actions and make any amendments necessary to receive such determination letter, unless such Filtration Savings Plan is based on a prototype plan document that has received a favorable IRS opinion letter or is a pooled employer plan which has received a favorable IRS determination letter. Except as otherwise provided in Section 3.3(b) below, the Cummins Retirement and Savings Plans shall retain all Assets and Liabilities relating to the Cummins Retirement and Savings Plan accounts of each Filtration Employee and Former Filtration Service Provider, and the Parties shall not effectuate a transfer of Assets or Liabilities from the Cummins Retirement and Savings Plans to the Filtration Savings Plan. Filtration shall be responsible for all Assets and Liabilities relating to the Filtration Savings Plan.
Retirement and Savings Plans. Any participation by you in, and any terminating distributions and vested rights under, the Phelps Dodge Retirement Plan, the Pxxxxx Dodge Savings and Deferred Pxxxxx Sharing Plan for Salaried Employees, or any other retirement or savings plan sponsored by the Corporation, regardless of whether such plan qualifies for favorable tax treatment, shall be governed by the terms of those respective plans.
