Excess 401(k) Plan definition
Examples of Excess 401(k) Plan in a sentence
Effective on or prior to the Effective Time, SpinCo shall, or shall cause one of its Affiliates to, assume sponsorship of the Atlas Energy Executive Excess 401(k) Plan (the “Parent Deferred Compensation Plan”) and any related trust, and all Liabilities related thereto and the Assets of any such trust, and make such amendments as necessary to reflect the new sponsorship by SpinCo (such plan as renamed as of the Effective Time in connection with such assumption, the “SpinCo Deferred Compensation Plan”).
Effective as of no later than the IPO Closing Time, CBS shall have caused the accounts of the Outdoor Americas Employees and Former Outdoor Americas Employees under the CBS Excess 401(k) Plan and CBS Bonus Deferral Plan to be transferred to the Outdoor Excess 401(k) Plan.
Effective as of the Benefits Transition Date, Radio established a non-qualified defined benefit contribution plan initially to be known as the CBS Radio Excess 401(k) Plan (the “Radio Excess 401(k) Plan”).
Effective as of the Benefits Transition Date, Outdoor Americas established the Outdoor Excess 401(k) Plan.
As of the transfer to the Radio Excess 401(k) Plan of the CBS Excess 401(k) Plan and CBS Bonus Deferral Plan accounts of a Radio Employee or Former Radio Employee, Radio shall have caused the Radio Excess 401(k) Plan to assume and be solely responsible for all liabilities under the CBS Excess 401(k) Plan and CBS Bonus Deferral Plan with respect to such Radio Employee or Former Radio Employee.
Subject to the requirements of applicable Law, as of no later than 15 days prior to the launch of the Initial Exchange Offer, the Outdoor Americas Group shall take such actions as are necessary to cause all investments in notional shares of CBS Common Stock under the Outdoor Excess 401(k) Plan to be transferred into other investment alternatives.
As of the Benefits Transition Date, CBS shall have caused the accounts of the Radio Employees (excluding any such individual who has not been hired or identified as a Radio Employee as of the Benefits Transition Date) and Former Radio Employees under the CBS Excess 401(k) Plan and CBS Bonus Deferral Plan to be transferred to the Radio Excess 401(k) Plan.
The Company shall maintain the Company’s Excess 401(k) Plan (the “Excess Plan”) and related rabbi trust during the Period of Employment, which Excess Plan shall (a) permit participants to defer up to 10% of their total annual cash compensation and (b) provide for a matching contribution by the Company on a dollar-for-dollar basis (i.e., 100% of the participant’s deferral), subject to a maximum matching contribution equal to 50% of the participant’s base salary for any calendar year.
To the extent permitted by the applicable plan, Executive will be entitled to continue to participate, consistent with past practices, in all employee retirement and deferred compensation plans maintained by the Company in which Executive participates as of his Date of Termination, including, to the extent such plans are still maintained by the Company, the ▇▇▇▇▇▇ 401(k) Plan and the ▇▇▇▇▇▇ Excess 401(k) Plan.
As of the transfer to the Outdoor Excess 401(k) Plan of the CBS Excess 401(k) Plan and CBS Bonus Deferral Plan accounts of an Outdoor Americas Employee or Former Outdoor Americas Employee, Outdoor Americas shall cause the Outdoor Excess 401(k) Plan to assume and be solely responsible for all liabilities for plan benefits under the Outdoor Excess 401(k) Plan or CBS Excess 401(k) Plan and CBS Bonus Deferral Plan to such Outdoor Americas Employee or Former Outdoor Americas Employee.