The SIP Clause Samples

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The SIP. This Award is issued under the SIP, the terms of which are incorporated in this Award Agreement. Capitalized terms used in this Award Agreement that are not defined in this Award Agreement, or in the attached Glossary of Terms, have the meanings as used or defined in the SIP.
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The SIP. (a) Effective as of the Distribution Date, Chemicals shall establish the Chemicals SIP and a related, separate trust (the "Chemicals SIP Trust"), qualified in accordance with Section 401(a) of the Code and exempt from taxation under Section 501(a) of the Code, which Plan shall include an employee stock ownership plan, to assume Liabilities of and receive the transfer of assets from the Monsanto SIP (b) Monsanto and Chemicals shall take all actions as may be necessary or appropriate in order to effect the transfer to the Chemicals SIP and the Chemicals SIP Trust, on or as soon as practicable after the Distribution Date, of the balances of all accounts established pursuant to and/or governed by the Monsanto SIP of the participants in the Monsanto SIP who are, as of the date of transfer, Chemicals Participants other than Retained Chemicals Inactive Participants. The transfer of such accounts shall be made (i) in kind, to the extent the assets thereof consist of Employer Securities, and (ii) otherwise in cash, securities, other property or a combination thereof, as agreed by Monsanto and Chemicals, but shall be effected, where practicable, in kind, so as to preserve each such participant's investment elections as in effect on the date of such transfer. To the extent the assets transferred to the Chemicals SIP in accordance with the foregoing consist of Employer Securities, the portion of such Employer Securities that shall be ESOP Shares shall equal the number of such Employer Securities multiplied by a fraction, the numerator of which is the number of ESOP Shares held in the Monsanto SIP immediately before the Distribution Date and the denominator of which is the number of Shares of Employer Securities held in the Monsanto SIP immediately before the Distribution Date. (c) Effective as of or as soon as practicable after the Distribution Date, one or more of the Existing Monsanto ESOP Securities shall be restructured into two separate obligations, with one of such obligations (each, a "Chemicals ESOP Security") being assumable or issued by the Chemicals SIP and the remainder thereof (each, a "New Monsanto ESOP Security") being issued by the Monsanto SIP. The aggregate principal amount of the Chemicals ESOP Securities shall be as nearly as possible equal to 20 percent of the aggregate principal amount of the Existing Monsanto ESOP Securities immediately before such restructuring, and the aggregate principal amount of the New Monsanto ESOP Securities and any Exis...
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The SIP. SNC-Lavalin (GB) and Atkins acknowledge and agree that Atkins Shares held in the SIP trust on behalf of the SIP participants will participate in the Scheme (on the same terms as for other Atkins Shareholders). Atkins confirms that as at the date of this Agreement there are no unallocated Atkins Shares held within the SIP trust. As at the date of this Agreement the Atkins No.4 Employee Benefit Trust (the “EBT”) holds 2,464,878 Atkins Shares. Unless all unallocated Atkins Shares have been used to satisfy options and awards vesting and becoming exercisable in the normal course prior to the Acquisition Effective Date, the parties agree that the trustee of the EBT will be requested (on terms agreed between Atkins and SNC-Lavalin (GB)) to agree to satisfy certain options and awards vesting or becoming exercisable as a consequence of the Acquisition, using these unallocated Atkins Shares in priority to Atkins issuing Atkins Shares or paying cash to satisfy such options and awards. In the event that the trustee of the EBT does not agree to such a request, the unallocated Atkins Shares shall remain in the EBT.
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Related to The SIP

  • Agreement Flexibility 8.1 An employer and employee covered by this enterprise agreement may agree to make an individual flexibility arrangement to vary the effect of terms of the agreement if: (a) the agreement deals with 1 or more of the following matters: (i) arrangements about when work is performed; (ii) overtime rates; (iii) penalty rates; (iv) allowances; (v) leave loading; and (b) the arrangement meets the genuine needs of the employer and employee in relation to 1 or more of the matters mentioned in paragraph (a); and (c) the arrangement is genuinely agreed to by the employer and employee. 8.2 The employer must ensure that the terms of the individual flexibility arrangement: (a) are about permitted matters under section 172 of the Fair Work Act 2009; and (b) are not unlawful terms under section 194 of the Fair Work Act 2009; and (c) result in the employee being better off overall than the employee would be if no arrangement was made. 8.3 The employer must ensure that the individual flexibility arrangement: (a) is in writing; and (b) includes the name of the employer and employee; and (c) is signed by the employer and employee and if the employee is under 18 years of age, signed by a parent or guardian of the employee; and (d) includes details of: (i) the terms of the enterprise agreement that will be varied by the arrangement; and (ii) how the arrangement will vary the effect of the terms; and (iii) how the employee will be better off overall in relation to the terms and conditions of his or her employment as a result of the arrangement; and (e) states the day on which the arrangement commences. 8.4 The employer must give the employee a copy of the individual flexibility arrangement within 14 days after it is agreed to. 8.5 The employer or employee may terminate the individual flexibility arrangement: (a) by giving no more than 28 days written notice to the other party to the arrangement; or (b) if the employer and employee agree in writing—at any time.

  • The P C. agrees to conduct the Practice in compliance with all applicable laws, rules and ordinances.

  • NON-SMOKING UNIT ENTRY BY OWNER

  • The Web Services E-Verify Employer Agent agrees to, consistent with applicable laws, regulations, and policies, commit sufficient personnel and resources to meet the requirements of this MOU.

  • Right to Refuse Dangerous Work An employee shall have the right to refuse to work in dangerous situations.