Hourly and Salaried Plans definition

Hourly and Salaried Plans means the Hourly Plan and the Salaried Plan.
Sample 1Sample 2Sample 3

Examples of Hourly and Salaried Plans in a sentence

  • ASARCO is the sponsor of the Hourly and Salaried Plans, each of which is covered by Title IV of ERISA.

  • ASARCO shall satisfy its contribution obligations under ERISA to the Hourly and Salaried Plans during the pendency of the Reorganization Cases and through the Closing Date.

  • In the event that Hourly Plan or the Salaried Plan or both terminate subsequent to the assumption of the Hourly and Salaried Plans by the Plan Sponsor, the joint and several liability of the Plan Sponsor, and of each and every member of its “controlled group” (as defined above) to PBGC, if any, will not be affected by any provision of this Plan or by Confirmation of this Plan.

  • Effective as of the Closing Date, the Plan Sponsor shall adopt and become the “contributing sponsor” of the Hourly and Salaried Plans for purposes of ERISA, and the Plan Sponsor, and each and every member of its “controlled group,” as defined in section 4001(a)(14) of ERISA, shall be responsible for satisfying the legal obligations to the Hourly and Salaried Plans subsequent to the Closing Date, including the obligation to fund the Hourly and Salaried Plans pursuant to applicable law.

  • Nothing contained herein shall interfere with Purchaser's right to amend or terminate the Companies Hourly and Salaried Plans or any Purchaser Plan after the Closing.

  • Article 8.8(a) of Harbinger’s Plan provides that ASARCO shall satisfy its contribution obligations under ERISA to the Hourly and Salaried Plans during the pendency of the Reorganization Cases and through the Closing Date.

  • Article 8.8(c) of Harbinger’s Plan provides that as of the Closing Date, the Plan Sponsor shall adopt and become the sponsor and employer for purposes of each and every Employee Benefit Plan set forth in section 9.3 of the Disclosure Schedule, including the Hourly and Salaried Plans, and shall be substituted for ASARCO or its Subsidiaries that had theretofore been the sponsor of any such Employee Benefit Plan.

  • He was very impressed with the store, met the owners and management team members, and he thinks they will be a great addition to the community.

  • It also provides that in the event that the Hourly Plan or the Salaried Plan or both terminate subsequent to the assumption of the Hourly and Salaried Plans by the Plan Sponsor, the joint and several liability of the Plan Sponsor, and of each and every member of its “controlled group” (as defined above) to PBGC, if any, will not be affected by any provision of Harbinger’s Plan or by Confirmation of Harbinger’s Plan.

Related to Hourly and Salaried Plans

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Savings Plan or "plans" means a plan that provides different investment strategies and allows account distributions for qualified higher education expenses.

  • Compensation Plans shall have the meaning set forth in Section 3.11(b).

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Thrift Plan means the Financial Institutions Thrift Plan, a qualified and tax-exempt defined contribution plan and trust under Sections 401(a) and 501(a) of the Code, as adopted by the Bank.

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

  • Company 401(k) Plan has the meaning set forth in Section 6.4(e).

  • Health benefits plan means a benefits plan which pays or

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Company Benefit Plans has the meaning set forth in Section 3.16(a).

  • Profit Sharing Plan means a profit-sharing plan that is qualified pursuant to 26 U.S.C. § 401 of the Internal Revenue Code and subject to the Employee Retirement Income Security Act, and which provides for employer contributions in the form of cash, but not in the form of stock or other equity interests in a Medical Marijuana Business.

  • Health and Welfare Benefits means any form of insurance or similar benefit programs, which may include but not be limited to, medical, hospitalization, surgical, prescription drug, dental, optical, psychiatric, life, or long-term disability.

  • Parent 401(k) Plan has the meaning set forth in Section 6.6(e).

  • pension means a pension or annual allowance paid under the Public Service Superannuation Act (PSSA), R.S., 1985, c. P-36, and any increases paid pursuant to the Supplementary Retirement Benefits Act, R.S., 1985, c. S-24 as it affects the PSSA. It does not include pensions payable pursuant to the Canadian Forces Superannuation Act, R.S., 1985, c. C-17, the Defence Services Pension Continuation Act, 1970, c. D-3, the Royal Canadian Mounted Police Pension Continuation Act , 1970, c. R-10, and the Royal Canadian Mounted Police Superannuation Act, R.S., 1985, c. R-11, the Members of Parliament Retiring Allowances Act, R.S. 1985, c. M-5, and that portion of pension payable to the Canada Pension Plan Act, R.S., 1985, c. C-8.

  • Health and Welfare Plans means any plan, fund or program which was established or is maintained for the purpose of providing for its participants or their beneficiaries, through the purchase of insurance or otherwise, medical (including PPO, EPO and HDHP coverages), dental, prescription, vision, short-term disability, long-term disability, life and AD&D, employee assistance, group legal services, wellness, cafeteria (including premium payment, health flexible spending account and dependent care flexible spending account components), travel reimbursement, transportation, or other benefits in the event of sickness, accident, disability, death or unemployment, or vacation benefits, apprenticeship or other training programs or day care centers, scholarship funds, or prepaid legal services, including any such plan, fund or program as defined in Section 3(1) of ERISA.

  • Qualified Plans has the meaning set forth in Section 5.20.

  • 401(k) Plan shall have the meaning set forth in Section 6.3(a).

  • Seller 401(k) Plan has the meaning set forth in Section 5.5(e).

  • Old Plans has the meaning set forth in Section 6.8(b).

  • Buyer 401(k) Plan has the meaning set forth in Section 6.01(h).

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • Company Benefit Plan has the meaning specified in Section 4.13(a).

  • Welfare Plans shall have the meaning set forth in Section 3.2.4.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Compensation and Benefit Plans has the meaning set forth in Section 5.03(m).

  • Multiple employer welfare arrangement means a multiple employer welfare arrangement