Pension Arrangements Clause Samples

Pension Arrangements. The Company shall insure the Employee under an acceptable ‘Managers Insurance’ plan (the “Managers Insurance Policy”) or Pension Fund (the “Pension Fund”), or a combination of both, at Employee’s choice, as follows:

Pension Arrangements. See Clause 7. No Contracting-Out Certificate pursuant to the provisions of the Social Security Pensions Act 1975 is in force in respect of the Executive’s employment hereunder.

Pension Arrangements. The Company shall insure the following payments to Executive under an accepted ‘manager’s insurance scheme’ (the “Managers Insurance Policy”) or pension fund (the “Pension Fund”), as shall be elected by Executive, as follows: - Manager Insurance Policy: (i) Severance - an amount equal to 8⅓% of the Base Salary; (ii) Pension - an amount equal to 5% of the Base Salary. In addition the Company will deduct a sum equal to 5% of the Base Salary as Executive’s contribution; (iii) Disability - subject to the Company’s insurer’s consent to underwrite such policy for Executive, the Company will contribute an amount of up to 2½% of the Base Salary towards disability insurance, under normal and acceptable conditions, which would insure 75% of the Base Salary.

Pension Arrangements. The Assignor and the Assignee shall procure that as from Closing the pension arrangements in respect of the Employees shall be dealt with in such a way as to ensure that the Employees rights are not prejudiced by the Assignment.

Pension Arrangements. 7.1 In relation to each Disclosed Scheme, the Data Room contains full particulars of all the benefits provided by and the terms of each Disclosed Scheme. All information set out in the Data Room in connection with the Disclosed Schemes is complete and accurate (and not misleading) in all material respects. 7.2 Save in relation to the Disclosed Schemes, there is not and has not been in operation, and no proposal, undertaking or assurance has been announced, or given to any Group Company employee, to enter into or establish, any agreement, arrangement, custom or practice (whether enforceable or not) for the provision of Relevant Benefits (as defined below) for any person to which any Group Company is, has been, or will be a party and no Group Company has paid, provided or contributed, is or will be under any obligation to pay, provide or contribute, to any such agreement, arrangement, custom or practice for the provision of Relevant Benefits or any other costs or expenses in respect of the provision of any Relevant Benefits and no Group Company has provided Relevant Benefits on a voluntary basis.

Pension Arrangements. 11.1. Subject to guidelines set from time to time by the applicable authorities, which may cause a change in the arrangements specified below, the Company shall insure Manager under an accepted pension arrangement (as of the date and to the extent required to do so by the applicable extension order or any applicable law), as follows: 1. Should Manager elect to obtain a managers’ insurance policy (“Managers Insurance”): (i) Severance - the Company will pay an amount equal to 8⅓% of the Salary; and (ii) Pension and inability to work insurance at the rate required to insure 75% of Manager’s salary - the Company will pay an amount equal to 6½% of the Salary (in any event, the pension component alone will not be less than 5% and in the event that it will be necessary to increase the costs of the inability to work component, the aggregate cost to the Company for purchasing the inability to work component together with the allocations towards the pension component, will not, in any event, be greater than 7.5% of salary) and the Company will deduct from Manager’s Salary a sum equal to 6% of the Salary as Manager’s contribution. 2. Should Manager elect to obtain a pension fund (“Pension Fund”): (i) Severance - the Company will pay an amount equal to 8⅓% of the Salary; and (ii) Pension - the Company will pay an amount equal to 6½% of the Salary and will deduct from Manager’s Salary a sum equal to 6% of the Salary as Manager’s contribution. 11.2. It is hereby clarified that the allocations made by the Company, pursuant to the allocations set forth above, are intended to comply with applicable law, including the obligation to allocate funds for disability and survivors’ insurance. The Company advises Manager to obtain professional advice on the election of a pension plan or Manager’s Insurance Policy. If, despite the fact that the Company made the budget available to Manager for disability insurance and survivors’ insurance, Manager will elect, for personal reasons, to be insured under a plan which does not include disability insurance or survivors’ insurance component (even if it includes disability insurance that provides for less than 75% of the Salary being paid to Manager upon becoming disabled), then Manager hereby acknowledges that: (i) such election was not initiated by the Company, (ii) such election was not made with the Company’s knowledge, and (iii) Manager is aware that the Company will not be able to obtain information regarding such election. Accordingl...

Pension Arrangements. 2.1. Except for the Pension Scheme, the Company: (a) does not operate, has not operated and has not agreed to operate; (b) has not announced any proposal to enter into or establish; or (c) does not contribute to and has not contributed to any Employee Benefit Scheme for or in respect of any Relevant Employee or any dependent or beneficiary of any Relevant Employee. 2.2. All material information relating to the Pension Scheme is included in the Disclosure Documents.

Pension Arrangements. Except for the Group Pension Scheme, no Group Company:

Pension Arrangements. The Sellers Pension Scheme shall be dealt with in accordance with the provisions of Schedule 5 (Pension Arrangements).