QUALIFIED DEFINED BENEFIT PLAN Sample Clauses

QUALIFIED DEFINED BENEFIT PLAN. SECTION 3.01.
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QUALIFIED DEFINED BENEFIT PLAN. Section 3.1 Transfer of Cash Balance Pension Plan to Spinco. 12
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QUALIFIED DEFINED BENEFIT PLAN. Section 3.1 Establishment of MSG Cash Balance Pension Plan 12 Section 3.2 Transfer of Assets and Liabilities 13 Section 3.3 No Separation from Service 13
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QUALIFIED DEFINED BENEFIT PLAN. (a) Infrastructurco (or one or more members of the Infrastructurco Group so designated) shall retain and be solely responsible for all Liabilities and obligations with respect to Flowco Employees (and Infrastructurco Employees and Former Employees) who participate in the SPX US Pension Plan, and accordingly, there shall be no transfer of Assets or Liabilities among Infrastructurco, Flowco, any of their respective Affiliates or their respective plans in respect of the SPX US Pension Plan following the Distribution Date. (b) As of the Distribution Date, Infrastructurco (or any member of the Infrastructurco Group) shall retain (or assume to the extent necessary) plan sponsorship of the ▇▇▇▇▇ Union Company Retirement Plan, and from and after the Distribution Date, Infrastructurco (acting directly or through its Affiliates) shall be responsible for any and all Liabilities and other obligations with respect to such plans; provided, however, that such plan may be merged into the SPX US Pension Plan before, on or after the Distribution Date, and the foregoing plan sponsorship requirement shall not be applicable in such case for the merged plan thereafter. (c) Effective as of the Effective Time, each Flowco Employee who participates in the SPX US Pension Plan or the ▇▇▇▇▇ Union Company Retirement Plan (referred collectively as the “SPX DB Plans”) shall become 100% vested in all benefits provided under such SPX DB Plan. As of the Distribution Date, each Flowco Employee participating in an SPX DB Plan shall be treated as a terminated vested participant under such SPX DB Plan. In no event shall any Flowco Employee accrue any additional benefits under the SPX DB Plans following the Distribution Date. (d) Except as provided in Section 6.07. none of Flowco or any member of the Flowco Group shall have any obligation to adopt, sponsor, maintain, participate in, contribute to or otherwise become liable with respect to any Benefit Plan that is subject to Title IV of ERISA, as a result of the Distribution or otherwise.
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QUALIFIED DEFINED BENEFIT PLAN. The U.S. Pension Transfer Amount will be a total amount of assets equal to the amount required to make the transfer compliant in all respects with requirements under Section 414(l) of the Code. Interest on the U.S. Pension Transfer Amount from the date the U.S. Pension Transfer Amount is determined to the date of transfer at a rate of 6% compounded annually shall be transferred along with the U.S. Pension Transfer Amount. The amount necessary to comply with Section 414(l) of the Code shall be determined using the actuarial assumptions provided in the attached Exhibit 22.5.
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QUALIFIED DEFINED BENEFIT PLAN. Your benefits under Peabody’s qualified defined benefit plan shall be paid in accordance with the terms of such plan, treating the spin-off as a termination of your employment.
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QUALIFIED DEFINED BENEFIT PLAN. If a Participant participates in a Qualified Defined Benefit Plan, the Employer Contributions and Forfeitures allocated to such Participant's Account will satisfy at least one of the following conditions: (i) If a Participant receives the minimum benefit required for an Employee who participates only in the Qualified Defined Benefit Plan, no allocation will be required under this Section; or (ii) The Participant's allocation will be at least 5% of his or her Limitation Compensation for such Plan Year. (iii) If the denominator of the Defined Benefit Fraction and the Defined Contribution Fraction is 125% for purposes of Section 5.9, the Participant's allocation will be at least 7.5% of his or her Limitation Compensation for such Plan Year.
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QUALIFIED DEFINED BENEFIT PLAN 
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Related to QUALIFIED DEFINED BENEFIT PLAN

  • Defined Benefit Plan A plan under which a Participant’s benefit is determined by a formula contained in the plan and no Employee accounts are maintained for Participants.

  • Defined Benefit Plans The Company has not maintained or contributed to a defined benefit plan as defined in Section 3(35) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). No plan maintained or contributed to by the Company that is subject to ERISA (an “ERISA Plan”) (or any trust created thereunder) has engaged in a “prohibited transaction” within the meaning of Section 406 of ERISA or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”) that could subject the Company to any material tax penalty on prohibited transactions and that has not adequately been corrected. Each ERISA Plan is in compliance in all material respects with all reporting, disclosure and other requirements of the Code and ERISA as they relate to such ERISA Plan, except for any noncompliance which would not result in the imposition of a material tax or monetary penalty. With respect to each ERISA Plan that is intended to be “qualified” within the meaning of Section 401(a) of the Code, either (i) a determination letter has been issued by the Internal Revenue Service stating that such ERISA Plan and the attendant trust are qualified thereunder, or (ii) the remedial amendment period under Section 401(b) of the Code with respect to the establishment of such ERISA Plan has not ended and a determination letter application will be filed with respect to such ERISA Plan prior to the end of such remedial amendment period. The Company has never completely or partially withdrawn from a “multiemployer plan,” as defined in Section 3(37) of ERISA.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Sick Leave Benefit Plan The Sick Leave Benefit Plan will provide sick leave days and short term disability days for reasons of personal illness, personal injury, including personal medical appointments and personal dental appointments.

  • Benefit Plan If an employee maintains coverage for benefit plans while on maternity or parental leave, the Employer agrees to pay the Employer's share of these premiums.