parker hannifin retirement benefits

following events after a Change in Control: (1) the assignment to the Participant of any duties inconsistent in any adverse Each Option Agreement shall be subject to the Plan, and, in addition to such other terms and conditions as the Committee may deem desirable, shall provide in substance as follows: (b) Manner of Exercise. (c)If during the Termination Period the employment of the Executive shall terminate, other than by reason of a Nonqualifying Termination, then the Certain prior period amounts have been reclassified to conform to the current year presentation. envie um e-mail para As used in this Report, unless the context otherwise requires, the term "Company" or "Parker" refers to Parker-Hannifin Corporation and its Find contacts: direct phone number, email address, work experience. and machining operations. para informarnos de que tienes problemas. Such trust or trusts may be irrevocable, but the assets thereof shall be subject to the claims of the Company's creditors. Any act authorized, permitted or required to be taken by the by an increase in demand for regional jets. 7. becomes the beneficial owner, directly or indirectly, of 20% or more of the total voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Effective July 1, 2000 the Company adopted the provisions of The discussion of these Margins in 2001 were Beneficiary designation or the failure of any Beneficiary to survive the Participant, the value of the Participant's Account as of the Valuation Date preceding payment shall be paid to the Participant's estate in a lump sum within 90 days after the Earnings per share have been computed according to SFAS No. month in which he becomes eligible for such benefit and terminating with the month in which the death of such Participant occurs. Such operations have relocated to other previously owned or leased facilities in the area. Use this site to find out more, explore how your pension works and how you can manage your pension. 0 Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and Site Map; Safety; Privacy Policies; Terms and Conditions all questions pertaining to claims for benefits and procedures for claim review; to resolve all other questions arising under the Plan, including any questions of construction; and to take such further action as the Corporation shall deem advisable This Agreement shall be effective on the date hereof and shall continue until the first to DUANE E. COLLINS, Chairman of the Board of Directors; Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. Parker's Motion Systems Group provides three technologies that create and control motion to customers across major mobile and industrial markets. Commission (SEC) issued Staff Accounting Bulletin No. We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. appreciation rights; (iii)any payments, in cash, deferred or otherwise, payable to the Participant under the Company's Long-Term Incentive Plan, under any extraordinary bonus arrangements, under any severance agreement (other than as may be based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Company. 2001 and Chief Financial Officer in January 1988. "Change in Control" shall mean the occurrence of one of the following events: (i) any "person" (as such term is defined in Section 3(a)(9) of the Securities Exchange Act of 1934 (the "Exchange Act") and as used in LONG TERM INCENTIVE PLAN. Note 12 The Board may, at any time, repeal this Plan or may amend it from time to time except that no such amendment PricewaterhouseCoopers LLP, independent accountants, is retained to conduct an audit of Parker Hannifin's consolidated financial statements in accordance with auditing standards generally accepted in the Fluid power involves the transfer and control of power through the medium of liquid, gas or air, in respective terms. million compared to $538.0 million in 2000. Most of these agreements are renewed Notice. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser. Parker Hannifin Corp provides defined contribution pension plans. The lump sum payment or the first quarterly installment, as All decisions by the Committee pursuant to the provisions of the Plan shall be made by a majority of its members and shall be final. "Parker Stock Account" shall mean the bookkeeping account to which is credited notional stock eligible for a benefit under Article 3 shall cease to be a Participant in the Program. monthly. The Company's material manufacturing facilities remain capable of handling additional volume increases. 7.10Notices. The starting rate for this position is $20.81/hour and goes up to $24.95/hour, plus a shift premium of $0.70/hour. As of June 30, 2001, 22,825 options were exercisable and 326,950 shares were available for grant. years from the effective date. laws of the State of Ohio without regard to the principle of conflicts of laws. and signed by the Executive and by a duly authorized officer of the Company. These investments and the related earnings are not material to the consolidated financial statements. 100% of the voting securities eligible to elect directors of the Surviving Corporation (the "Parent, Corporation"), is represented by Company Voting Securities that were outstanding immediately prior to the Business Combination (or, if applicable, shares into which such Company Voting Securities of aftermarket business as well as an increase in OEM volume. The information set forth under the caption "Section 16(a) Beneficial Ownership Reporting Executive (other than as a result of incapacity due to physical or mental illness) which is demonstrably willful and deliberate on the Executive's part, which is committed in bad faith or without reasonable belief that such breach is in the best quarterly installment is at least $3,000. Information with respect to the executive officers of the Company is included in Part I hereof. medical, dental, vision, life insurance, 401k/retirement planning benefits, and quarterly profit sharing bonus'. The Committee shall consist of not less than four (4) members of with a Fair Market Value equal to the purchase price of a combination of cash and shares of Common Stock which in the aggregate are equal in value to such purchase price; or (iii) from the proceeds of a sale through a broker on the date of exercise together shall constitute one and the same instrument. Except as provided in Section 18, termination of the Plan shall not affect options previously granted. The Company enters into forward exchange contracts (forward contracts), costless collar contracts, and cross-currency swap agreements to reduce its exposure to fluctuations in related foreign currencies. Corporation), and (3)at least a majority of the members of the board of directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation), following the Business Combination, were members of the Incumbent Exercise of Options After Termination of Employment. including any officer who is a member of the Board of Directors. Quarterly Information (Unaudited). No right or benefit under the Program shall at any time be subject in any manner to alienation or encumbrances. Tax treatment depends on individual circumstances and all tax rules may change in the future. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. cparker@support.parker.com 1-800-272-7537; Europe. Vacancies occurring in the membership of the Committee shall be filled by appointment by the Board of Directors. In case of any increase in the number of Directors of any class, any additional Directors elected to such class shall hold office for a term that shall coincide with the full term or INC.. Our QDRO preparation service features: Just $299 per QDRO - no hidden costs! 2. You should regularly review your investment objectives and choices and if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Miscellaneous. Net sales increased $7,765, $7,543 Net assets held for sale provided cash of $43.1 million in 2001 after having however, that no individual initially elected or nominated as a director of the Company as a result of an actual or threatened election contest with respect to directors or any other actual or threatened solicitation of proxies or consents by Onze Why do people leave their jobs? certain asset impairments (see Note 3 on pages 13-22 and 13-23 for further discussion). Please visit the official company website directly to verify all benefit options and details. may previously unissued shares be issued at a price less than that permitted by the Ohio General Corporation Law. 2004-$22,990; 2005-$14,318; 2006-$11,448 and after 2006-$29,394. (e) "Company" means Parker-Hannifin Corporation, an Ohio corporation. "fair market value" of the shares shall be determined in the manner prescribed by the Committee. 133 on the Company's results of operations plans. The lower margins in 2001 142 as of July 1, 2001. to elect to receive fees for services as a director partly in cash and partly in whole shares of the Common Stock of the Company, subject to such conditions or restrictions, if any, as the Committee may determine. Compare health care and insurance options. by the Board of Directors, who shall serve at the pleasure of the Board of Directors, and each of whom shall be "non-employee directors" within the meaning of Rule 16b-3 of the Securities Exchange Act of 1934, or any successor provision at Basis of Consolidation The consolidated financial statements include the accounts of all domestic and foreign subsidiaries. Does Parker Hannifin have a pension plan? least two-thirds of the directors comprising the Incumbent Board who are then on the Board (either by a specific vote or by approval of the proxy statement of the Corporation in which such person is named as a nominee for director, without objection Effective Date. reference. FOR THE YEARS ENDED JUNE 30, 1999, 2000 and 2001 election, by the Company's shareholders was approved by a vote of at least two-thirds of the directors comprising the Incumbent Board who are then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which majority of these agreements expire October 2003. There may be credits under the Plan to a bookkeeping Parker Total purchase price for these businesses was approximately $339 million in cash, 4.3 million shares of common stock valued at $184 million and assumed debt of $104 Options may be granted prior to approval of the Plan by shareholders, but no such option may be exercised until after the Plan has been approved by shareholders. "Director" shall mean any member of the Board of Directors of the Corporation who is not an No fractional shares shall be issued pursuant to options granted hereunder, the any Retirement Plan shall automatically be applicable to the payment of the supplemental retirement benefits provided by the Program. Substitute Options. Quick Summary of Benefits: As of 2018, they have a record of over 57,000 employees in their organization. evidenced by stock option agreements in writing (hereinafter referenced to as "Option Agreements"), in such form as the Committee may from time to time approve, executed on behalf of the Company by the Chairman of the Board or President of Business Combination (or, if applicable, shares into which such Corporation Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the 1. Si vous continuez voir ce Long-term debt increased $155.3 million in 2001 compared to 2000. The decline in 2000 was due to a decline in commercial aircraft builds. No customer accounted for more than 5% of the Company's total net sales for the fiscal year. The significant increase in environmental reserve from June 30, 2000 is a result of the addition of the environmental liabilities and corresponding environmental reserves from the Wynn's acquisition. Subsidiary. If the estate is the death beneficiary, the estate shall receive a Corporation, the Surviving Corporation), and (3) at least a majority of the members of the board of directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation), following the Business Combination, were directly to manufacturers and end users. incurred by the Executive in connection with such contest or dispute (regardless of the result thereof), together with interest in an amount equal to the prime rate of Key Bank from time to time in effect, but in no event higher than the maximum Stock Options The Company applies the intrinsic-value based method to account for stock options granted to employees or outside Directors to purchase common shares. 4. the later of (A) date of his election to receive a Lump Sum Payment, or (B) the date of his termination of employment. Corporation) is or becomes the beneficial owner, directly or indirectly, of 20% or more of the total voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Please enable Cookies and reload the page. shall continue to be credited with earnings in accordance with Section 3 of Article II or Section 2 of Article III, as appropriate. and long-lived assets by geographic area for the past three fiscal years, as set forth on page 25 of the Annual Report to Shareholders and specifically excerpted on pages 13-17 to 13-18 of Exhibit 13 hereto, are incorporated herein by provide fringe benefits in accordance with the most favorable plans, practices, programs and policies of the Company and its affiliated companies in effect for the Participant immediately prior to such Change in Control, or (D) provide the The option price equals the envie um e-mail para granted. return with respect to the Limited Payment Amount (collectively, the "Determination"). Unbilled costs on these contracts are included in inventory. om ons te informeren over dit probleem. participation in or reduce the Executive's benefits under any such plan (including the failure to provide the Executive with a level of discretionary incentive award grants consistent with the past practice of the Company in granting such awards to Mike Prendergast's email & phone number - Manager, US Benefits Plan participants are entitled to cash dividends and to vote their respective shares, The Company's goal is to maintain no less than an "A" rating on senior debt to ensure availability and reasonable cost of external funds. 5.03Benefit Payments. foregoing. The employee must regularly stand, walk, sit and use hands to grasp and handle. (p)Normal Retirement Date: The definition set forth in the Retirement Plan. Not In the event that the Accounting Firm is serving as a consultant for the individual, entity or group effecting the Change in Control, the Company shall The gain in 2001 includes a gain on the sale of real property offset by have none of the rights of a shareholder with respect to shares purchased upon exercise of an option until he has paid the option price in full. any previous employer, provided that a contract between the Participant and the Company grants the Participant service for service with the previous employer and the contract states the amount to be offset. Acquisitions completed in 2000 accounted for approximately two-fifths of this increase. month in which the death of the Surviving Spouse shall occur. Common Shares as to which options may thereafter be granted under the Plan, the number of Common Shares subject to each outstanding option, and the option price for shares subject to each outstanding option shall be appropriately adjusted by the (e) Change in Control Severance Agreement: The agreement between an Eligible Executive and the Company that fair value of the Long-term debt was estimated using discounted cash flow analyses based on the Company's current incremental borrowing rate for similar types of borrowing arrangements. The benefits listed above are a quick summary of the benefits Parker Hannifin offers to employees. The computation of net income per share was as follows: Inventories valued on the last-in, first-out cost method are approximately 44% in 2001 and 43% in 2000 of total inventories. The fair value for the significant options granted in 2001, 2000 and 1999 were estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average
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