Top-Hat Plans Sample Clauses
Top-Hat Plans. CFI shall retain the obligation to pay Company Employees the accounts in the Consolidated Freightways, Inc. Executive Deferred Compensation Plan (the "CFI Deferral Plan") accumulated from compensation deferred up to the Distribution Date. CFI shall retain the obligation to pay Company Employees benefits accrued under the Consolidated Freightways, Inc. Supplemental Retirement and Excess Benefit Plan (the "CFI SERP") as of the Distribution Date based on service and compensation up to that date and the offsetting CFI Retirement Plan benefits accrued as of that date. Assets in the trust related to the CFI Deferral Plan and the CFI SERP shall remain in such trust. CFI shall amend the CFI Deferral Plan and the CFI SERP to provide that events, such as termination of employment or retirement, triggering distribution of benefits from the CFI Deferral Plan and the CFI SERP shall be determined for Company Employees on the basis of employment with and retirement from the Company and its Subsidiaries. The Company shall provide CFI with information about such events after the Distribution Date to assist CFI in the administration of the CFI Deferral Plan and the CFI SERP.
Top-Hat Plans. Prior to the Closing Date, (i) Seller and Seagram will cause the Company to (x) assume the liabilities, if any, of Transferred Employees under the JES Benefit Equalization Plan and (y) cause the Company executive supplemental plans to assume all liabilities and obligations of Company Employees, including Transferred Employees or any former employee of Seagram, JES or any affiliate thereof who is employed by the Company as of the Closing Date, under any executive supplemental plan maintained by Seagram, JES or any affiliate thereof, and (ii) Seller and Seagram will cause the JES executive supplemental plans to assume all liabilities and obligations of any current employee of Seagram, JES, or any affiliate thereof who were employed by the Company prior to such employment.