Tax-Qualified Defined Contribution Plans Sample Clauses

Tax-Qualified Defined Contribution Plans. As of and following the Closing, Transferred System Employees shall not be entitled to make contributions to or to benefit from matching or other contributions under the TWC Savings Plan ("Time Warner Cable 401(k) Plan"). None of Comcast Subsidiary, any of its Affiliates or Holdco shall have any Liability with respect to the Time Warner Cable 401(k) Plan, except as may be provided in any other agreement between Time Warner Cable or any of its Affiliates, on the one hand, and Comcast Subsidiary or any of its Affiliates (other than Holdco), on the other. Comcast Transferred System Employees who were participants in the Time Warner Cable 401(k) Plan immediately prior to the Closing shall become participants in a defined contribution pension plan qualified under Section 401(a) of the Code and meeting the requirements of Section 401(k) of the Code established or maintained by Comcast Subsidiary or its Affiliates (the "Comcast 401(k) Plan") as of the Closing; provided, that any Comcast Transferred System Employee with less than 6 months of service with Time Warner Cable or any of its Affiliates immediately prior to Closing will only become a participant in the Comcast 401(k) Plan after completing 6 months of combined continuous service with Time Warner Cable or any of its Affiliates (other than Holdco) and Holdco or any of its Affiliates (other than Time Warner Cable). Comcast Subsidiary or its Affiliates shall cause the Comcast 401(k) Plan to accept cash eligible rollover distributions (as defined in Section 402(c)(4) of the Code) by Comcast Transferred System Employees with respect to account balances distributed to them on or after the Closing Date by the Time Warner Cable 401(k) Plan.
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Tax-Qualified Defined Contribution Plans. As of and following the Closing, Transferred System Employees shall not be entitled to make contributions to or to benefit from matching or other contributions under the TWC Savings Plan ("TIME WARNER CABLE 401(K) PLAN"). None of Comcast Subsidiary, any of its Affiliates or Holdco shall have any Liability with respect to the Time Warner Cable 401(k) Plan, except as may be provided in any other agreement between Time Warner Cable or any of its Affiliates, on the one hand, and Comcast Subsidiary or any of its Affiliates (other than Holdco), on the other. Comcast Transferred System Employees who were participants in the Time Warner Cable 401(k) Plan immediately prior to the Closing shall become participants in a defined contribution pension plan qualified under Section 401(k) of the Code and meeting the requirements of Section 401(k) of the Code established or maintained by Comcast Subsidiary or its Affiliates (the "COMCAST 401(K) PLAN") as of the Closing; PROVIDED that any Comcast Transferred System Employee with less than 6 months of service with Time Warner Cable or any of its Affiliates immediately prior to Closing will only become a participant in the Comcast 401(k) Plan after accruing 6 months of combined continuous service with Time Warner Cable or any of its Affiliates (other than Holdco) and Holdco or any of its Affiliates (other than Time Warner Cable).
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Tax-Qualified Defined Contribution Plans. Effective as of January 1, 2002, Lafarge NA will assume sponsorship of those tax-qualified defined contribution plans maintained by BCNA or its subsidiaries for the benefit of the Transferred Employees as in effect on December 31, 2001 (the "DC Plans"). In the event that this Agreement shall terminate other than by reason of Lafarge NA's exercise of the Option, then prior to and effective as of the Termination Date, BCNA agrees to take or cause one of its subsidiaries to take or Lafarge SA will cause an entity designated by it to take all such action as may be necessary to become the plan sponsor of the DC Plans and assume all liabilities and obligations with respect to such plans. During the Term, Lafarge NA shall have the right to amend the DC Plans in such manner as it deems to be necessary and appropriate.
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Tax-Qualified Defined Contribution Plans. As of the Closing Date, the Transferred Employees shall be eligible to participate in any tax-qualified defined contribution plan in which comparable employees of Buyer participate, and Buyer shall recognize, for purposes of eligibility and vesting under said pension plan, the Transferred Employees' employment with Seller prior to the Closing Date. To the extent plan amendments are necessary to permit such eligibility and recognition of service for such Transferred Employees, Buyer shall cause such amendments to be adopted and in effect as of the Closing Date. If Buyer does not maintain such a plan, Buyer shall establish, effective as of the Closing Date, a defined contribution plan, qualified under Sections 401(a) and (k) of the Code, that is substantially comparable in all material respects to the Seller's defined contribution plan, the Kao America Inc. Profit Sharing Plan (hereafter "Profit Sharing Plan"), and which recognizes, for purposes of eligibility and vesting, the Transferred Employees' employment with Seller prior to the Closing Date. To the extent permitted by the Code, Buyer shall cause the Trustee or Trustees of such defined contribution plan maintained or established by Buyer to accept a transfer of assets (including any promissory notes or other evidence of indebtedness representing the plan loans of Transferred Employees) from Seller's Profit Sharing Plan. Prior to such transfer, Buyer shall provide such documentation as Seller may require evidencing the qualification of such plan under Section 401(a) of the Code.
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Tax-Qualified Defined Contribution Plans. 6.1 Prior to the Time of the Distribution, Bevexxx, Xxpstone and NBHI shall cooperate to amend each of the Bevexxx Xxxerprises 401(k) Savings Plus Plan and the Bevexxx Xxxerprises, Inc. 1988 Employee Stock Purchase Plan as may be necessary to provide for (i) the assumption of such plans by NBHI as set forth below, (ii) the ongoing participation therein by the Transferred Employees (to the extent otherwise eligible thereunder), (iii) the cessation of participations, contributions, and accruals with respect to Retained Employees, (iv) the amendment of the Pharmacy Corporation of America Retirement Savings Plan to provide for the assumption and sponsorship of such Plan by Capstone, whereby Bevexxx xxxl retain such Plan and after the Merger Capstone will become the plan sponsor, named employer and fiduciary, and plan administrator thereunder, and (v) the taking of such other steps (consistent with applicable law and the terms of the affected plan) as may be necessary to prevent the consummation of the transactions contemplated by this Agreement, the Distribution Agreement and the Merger Agreement (including the transfer of employment of any Transferred Employee) from causing, resulting in or being treated as a termination of employment with respect to the Transferred Employees who are participants in such plans.
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Tax-Qualified Defined Contribution Plans. Seller and the other Asset Sellers shall vest each Transferred Business Employee in his or her account under the Albany International Corp. Prosperity Plus Savings Plan (the “Seller 401(k) Plan”), effective as of the Closing Date. After the Closing Date, Purchaser will cause its tax-qualified defined contribution plan for U.S. employees to allow each Transferred Business Employee who has one or more account balances in the Seller 401(k) Plan to make a “direct rollover” of such account balances (including promissory notes evidencing any outstanding loans but otherwise in cash) from the Seller 401(k) Plan if such Transferred Business Employee elects to make such a rollover.
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Tax-Qualified Defined Contribution Plans. 6.1 Prior to the Time of the Distribution, the Company and Newco shall (i) cooperate to amend the Hartx-Xxxxx Xxxestment Plus (the "401(k) Plan") as may be necessary to provide for the assumption of such plan by Newco and the spin-off of plan assets and liabilities to Buyer's plan as set forth below, (ii) provide that the Retained Employees will cease to participate in the 401(k) Plan as of the Time of Distribution, and (iii) take such other steps (consistent with applicable law and the terms of the plan) as may be necessary to prevent the consummation of the transactions contemplated by this Agreement, the Distribution Agreement and the Merger Agreement (including the transfer of employment of any Transferred Employee) from causing, resulting in or being treated as a termination of employment with respect to the Transferred Employees who are participants in the 401(k) Plan.
Sample 1
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Tax-Qualified Defined Contribution Plans. 6.1 Prior to the Time of the Distribution, the Company and Newco shall (i) cooperate to amend each of the First Mississippi Corporation 401(k) Savings Plan and the First Mississippi Employee Stock Ownership Plan as may be necessary to provide for the such assumption of such plans by Newco as set forth below, and (ii) take such other steps (consistent with applicable law and the terms of the affected plan) as may be necessary to prevent the consummation of the transactions contemplated by this Agreement, the Distribution Agreement and the Merger Agreement (including the transfer of employment of any Transferred Employee) from causing, resulting in or being treated as a termination of employment with respect to the Transferred Employees who are participants in such plans. 6.2 Effective as of the Time of Distribution, each of the First Mississippi Corporation 401(k) Savings Plan and the First Mississippi Employee Stock Ownership Plan shall be transferred from the Company to Newco (and the Company shall transfer the related trusts (including funds for any contributions due from the Company or subsidiaries of the Company which have accrued or that have been deducted from payroll as of the Time of Distribution) and Newco shall assume such plans and (i) succeed the Company as the plan sponsor, plan administrator, employer or other party under such plans and any agreements related thereto and be vested with any and all of the powers, duties, rights and privileges of such plan sponsor, plan administrator, employer or other party thereunder; and (ii) assume and agree to perform and discharge all of the duties and obligations of the employer, sponsor and/or plan administrator thereunder and to pay and be solely responsible for all of the liabilities and obligations of any kind (whether absolute, accrued, contingent or otherwise) of the employer, sponsor and/or plan administrator thereunder in respect of, arising under or required to be performed under any such plan, agreement or arrangement. 6.3 Effective as of the Time of Distribution, each Retained Employee's account balance in the First Mississippi Corporation 401(k) Savings Plan and the First Mississippi Employee Stock Ownership Plan shall become fully vested and non-forfeitable without regard to such Retained Employee's length of service. As soon as practicable following the Time of Distribution, Newco shall cause the accounts of Retained Employees in the First Mississippi Corporation 401(k) Savings Plan and the...
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Tax-Qualified Defined Contribution Plans 
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Related to Tax-Qualified Defined Contribution Plans

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

  • Defined Contribution Plans The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined contribution plan" (as defined in Section 3(34) of ERISA), whether or not terminated.

  • Third Party Administrators for Defined Contribution Plans 2.1 The Fund may decide to make available to certain of its customers, a qualified plan program (the "Program") pursuant to which the customers ("Employers") may adopt certain plans of deferred compensation ("Plan or Plans") for the benefit of the individual Plan participant (the "Plan Participant"), such Plan(s) being qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended ("Code") and administered by third party administrators which may be plan administrators as defined in the Employee Retirement Income Security Act of 1974, as amended (the "TPA(s)").

  • Company Contributions (a) For employees hired, rehired or who become covered under the CWA 3176 Agreement through any means before January 1, 2016, the Company shall contribute a Company Matching Contribution equal to 25 percent of the Participant’s Contribution up to a maximum of 6 percent of eligible wage.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Investment of Contributions At the direction of the Designated Beneficiary (or the direction of the Depositor or the Responsible Individual, whichever applies) the Custodian shall invest all contributions to the account and earnings thereon in investments acceptable to the Custodian, which may include marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), covered call options, certificates of deposit, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a custodial account investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian may, but need not, establish programs under which cash deposits in excess of a minimum set by it will be periodically and automatically invested in interest-bearing investment funds. The Custodian shall have no duty other than to follow the written investment directions of the Designated Beneficiary (or the Depositor or Responsible Individual), and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Designated Beneficiary.

  • Cash Balances Uninvested cash balances in my Account will be automatically swept into the Xxxxxx Xxxxx Money Market Fund according to my previous elections and authorizations relating to the treatment of cash balances. I understand and agree that the Xxxxxx Xxxxx Money Market Fund is offered by an Xxxxxx Xxxxx affiliate and, as a result, Xxxxxx Xxxxx has a financial incentive to select the Xxxxxx Xxxxx Money Market Fund as the available cash option, instead of a third-party cash product.

  • Organizational Contributions In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial Capital Contribution to the Partnership in the amount of $20.00, for a 2% General Partner Interest in the Partnership and has been admitted as the General Partner of the Partnership, and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $980 for a 98% Limited Partner Interest in the Partnership and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, the interest of the Organizational Limited Partner shall be redeemed; and the initial Capital Contribution of the Organizational Limited Partner shall thereupon be refunded. Ninety-eight percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contributions shall be allocated and distributed to the Organizational Limited Partner, and the balance thereof shall be allocated and distributed to the General Partner.

  • Return of Contribution Nonrecourse to Other Members Except as provided by law, upon dissolution, each member shall look solely to the assets of the Company for the return of the member's capital contribution. If the Company property remaining after the payment or discharge of the Company's debts and liabilities is insufficient to return the cash contribution of one or more members, such member or members shall have no recourse against any other member or the Board.

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