Thrift Plan. The Employer may make an election in the Adoption Agreement to require Employee after-tax contributions (Required After-tax Contributions) as a condition of participation in the Plan. The Employer shall notify each eligible Employee of his or her eligibility for participation prior to the appropriate Entry Date. The Employee shall indicate his or her intention to join the Plan by authorizing the Employer to withhold a percentage of his or her Compensation as provided in the Plan. Such authorization shall be returned to the Employer within the time prescribed. The Employee may decline participation by so indicating in accordance with the procedures prescribed by the Employer. If the Employee declines to participate, such Employee shall be given the opportunity to join the Plan on any subsequent Entry Date.
Thrift Plan. Employees covered by this contract who are or become First Meat Men shall be eligible for participation in The Great Atlantic & Pacific Tea Company, Inc. Employees' Thrift Plan in accordance with its terms during the period such employees hold the position of First Meat Man. Such First Meat Men may become members of the "Employees' Thrift Plan" or retain their membership, in accordance with the terms and conditions of the Plan as outlined in the prospectus attached here to, and made a part hereof. The Union agrees that if the Plan is sub sequently altered, modified or discontinued on a National Company basis in accordance with Article IV, as shown in the attached prospectus, or otherwise, such change will not be subject to the grievance and arbi tration procedure as provided in Article XV of the contract, and will not be considered a violation of this contract; however, Article XVI (the no strike clause) will continue to apply.
Thrift Plan. OPERATION— Eligible full time employees covered by this con tract may become members of the Employees’ Thrift Plan in ac cordance with the terms and conditions of the plan as outlined in the prospectus attached hereto and made a part hereof. The Union agrees that if the plan is subsequently altered, modified or discontinued on a national compay basis in accordance with Article IV, as shown in the attached prospectus, or otherwise, such change will not be subjected to the grievance and arbitra tion procedure as provided in Article VIII, and will not be con sidered as a violation of this contract; however, Article VIII, Strike, Lockout Bar, will continue to apply.
Thrift Plan. (a) The Company and VRM shall take all action necessary ----------- or appropriate (including amending appropriate Company Plans, including, without limitation, the Company Thrift Plan) so that (i) effective as of the Time of Distribution, VRM shall become the Sponsor (as defined in the Company Thrift Plan) of the Company Thrift Plan (such plan, following such event, is hereinafter referred to as the "VRM Thrift Plan"), and in such capacity assume responsibility for maintaining the VRM Thrift Plan, and (ii) immediately following the Time of Distribution, each Company Employee in the VRM Thrift Plan shall be entitled, in connection with the transactions contemplated by the Merger Agreement and to the extent permissible by applicable law and the Plan, to direct the trustee of the VRM Thrift Plan to take any of the following actions with respect to the Company Employee's account (including all Company contributions thereto, whether previously vested or nonvested, and the earnings thereon) in the VRM Thrift Plan: (A) maintain the account in the VRM Thrift Plan; (B) transfer the account to a qualified Individual Retirement Account held in the name of such Participant; (C) transfer the account to the Merger Partner Thrift Plan; or (D) receive a distribution of the account. The transfers described in clauses (ii)(B) and (C) of this paragraph (each a "Thrift Plan Transfer") shall be effected in cash, except that the Merger Partner Thrift Plan may accept promissory notes evidencing any outstanding participant loans. As a condition to the Merger Partner Thrift Plan accepting any transfer under this Section 4.03, VRM shall provide Acquiror with an IRS letter ruling addressed to VRM, an IRS Determination Letter or an opinion of counsel satisfactory to Acquiror confirming the permissibility of the transfers under applicable law.
Thrift Plan. Effective as of July 1, 2006, GP adopted a defined contribution retirement plan (“XX Xxxxxx Plan”) for Eligible GP Employees as well as other individuals subsequently employed by GP and determined to be eligible under the terms of the XX Xxxxxx Plan. GP Employees who were participating in the Valero Energy Corporation Thrift Plan (“VEC Thrift Plan”) immediately prior to the adoption of the XX Xxxxxx Plan began participating in the XX Xxxxxx Plan effective as of July 1, 2006, at the same contribution rate as then in effect under the VEC Thrift Plan. Eligible GP Employees are deemed to have incurred a termination of employment for purposes of the VEC Thrift Plan as of the later of the effective date of the Initial Tranche or the Cut-Over Date, and all accrued benefits of Eligible GP Employees under the VEC Thrift Plan shall be deemed to be fully vested as of July 1, 2006 or the Cut-Over Date, as applicable. The XX Xxxxxx Plan shall accept direct rollovers of the account balances of Eligible GP Employees under the VEC Thrift Plan, and shall provide credit to all Eligible GP Employees for purposes of eligibility and vesting for all service credited by VEC for such purposes under the VEC Thrift Plan. The parties will cooperate with each other to establish and implement one or more special direct rollover “window” opportunities for Eligible GP Employees to roll over their account balances under the VEC Thrift Plan (including, for such special direct rollover window periods, outstanding plan loans) to the XX Xxxxxx Plan on such terms as the parties agree.
Thrift Plan. Effective January 1, 1994, the Southern States ----------- Thrift Plan and Trust, as amended and restated effective January 1, 1987, heretofore adopted by Southern States for the benefit of its employees shall be and hereby is, adopted as the Thrift Plan of Orange-Madison for the benefit of its employees, and all amendments and modifications of said Plan hereafter approved by the Board of Directors of Southern States (or where appropriate, the Employee Benefits Administrative Committee [the "EBAC"] or the Employee Benefits Investment Committee [the "EBIC"]) shall apply automatically to the employees of Orange-Madison; and Southern States shall advise Orange-Madison of any such amendment hereafter adopted. Southern States is authorized to execute such instruments and to perform any and all acts as may be necessary on behalf of Orange-Madison to accept, continue in force, or amend said Plan.
Thrift Plan. All Thrift Plan contributions and deductions will be calculated on the rate of pay established for the base rate in accordance with the Plan.
Thrift Plan. 59 SECTION 9.04.
Thrift Plan. (a) Effective as of the Closing Date, Seller Guarantor shall take all actions necessary to cause (i) the Company and each Included Subsidiary to cease to be participating employers in any Seller Guarantor Plan which is a "pension plan" within the meaning of Section 3(2) of ERISA, including, without limitation, the Comcast Corporation Retirement Investment Plan for Employees (the "Seller Guarantor Thrift Plan") and (ii) the accrued benefits of Employees under all such Seller Guarantor Plans to be fully vested as of the Closing Date. As soon as practicable after the Closing Date, Buyer shall take all action necessary to cause the retirement plan designated by Buyer (the "Buyer Thrift Plan") to allow each Employee who is a participant in the Seller Guarantor Thrift Plan as of the Closing Date to effect a direct rollover in cash of their accrued benefits under the Seller Guarantor Thrift Plan to the Buyer Thrift Plan. In connection with any such direct rollover elected by an Employee, Buyer shall use its reasonable best efforts to allow, as soon as practicable, any such Employee's outstanding loan under the Seller Guarantor Thrift Plan to be directly rolled-over into the Buyer Thrift Plan. Seller Guarantor shall use its reasonable best efforts to cause any such outstanding loan not to become due, based upon the cessation of the Employee's participation in the Seller Guarantor Thrift Plan, for a period of up to six months following the Closing Date or the earlier termination of employment of the Employee by Buyer.
Thrift Plan. 9 4.04. Excess Thrift Plan................................... 10 4.05. Supplemental Retirement Plan and Supple- mental Executive Retirement Agreements.............. 11 4.06.
