LIMONEIRA CO FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Financial Statements and Exhibits
Item 1.01 Entry into a Material Definitive Agreement
On
entered into a Single Premium Guaranteed Annuity Contract Purchase Agreement
(the "Agreement") with
Company entered into the Agreement as plan sponsor, and in connection with the
previously announced termination, of the Limoneira Company Retirement Plan (the
"Plan") effective
an irrevocable nonparticipating single premium group annuity contract (the
"Annuity Contract") from the Insurer for a premium amount of
payable with Plan assets on
the Insurer assumes administrative and monthly benefit liabilities for 250
participants in the terminated Plan.
The Agreement provides that the Insurer will assume the responsibility for
making monthly benefit annuity payments to such terminated Plan participants on
terminated Plan's monthly benefit obligations to such participants, the Company
and its administrator will continue to administer the Plan and have the Plan
continue to make monthly benefit annuity payments to such terminated Plan
participants through
reimburse the Plan commensurate with the monthly benefit annuity payments made
by the Plan to such participants during the Initial Term pursuant to the terms
of the Temporary Bulk Payment Agreement (the "Temporary Bulk Payment Agreement")
between Company and the Insurer, dated
The foregoing description of the Agreement and the Temporary Bulk Payment
Agreement do not purport to be complete and are qualified in their entirety by
reference to the full text of the Agreement and Temporary Bulk Payment
Agreement, which are attached hereto as Exhibits 10.1 and 10.2.
Item 9.01 Financial Statements and Exhibits
10.1 Single Premium Guaranteed Annuity Contract Purchase Agreement, datedNovember 4, 2022 . 10.2 Temporary Bulk Payment Agreement, datedNovember 7, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
Protest by Medicaid bidder not expected to delay start of Nebraska managed care contracts
Protest by Medicaid bidder not expected to delay start of Nebraska managed care contracts
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News