Agreement Benefit Sample Clauses

Agreement Benefit. This Agreement shall inure to the benefit of and be binding on the parties hereto, their successors and assigns.
Sample 1Sample 2Sample 3
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Agreement Benefit. The Corporation agrees to pay Mx. Xxxxxxxx a monthly single-life benefit at retirement equal to a percentage of his Final Average Monthly Salary, as defined within the Corporation’s Retirement Program. This percentage will be twenty-two percent (22.0%) plus one-half percentage point (0.50%) for each completed calendar month of employment on and after January 1, 2003 (such that by December 31, 2005, the percentage will be forty percent (40.0%)). The single-life benefit if Mx. Xxxxxxxx remains Actively Employed and retires on December 31, 2005, will not be less than $1,200,000 per annum.
Sample 1
Agreement Benefit. The Corporation agrees to pay Mx. Xxxxxxxx a monthly single-life benefit at retirement equal to a percentage of his “Average Monthly Salary”, as defined below. This percentage is thirty percent (30.0%) as of April 30, 2004, and increases by one-half percentage point (0.50%) for each completed calendar month of Active Employment thereafter (such that by April 30, 2008, the percentage will be fifty-four percent (54.0%)). For purposes of this Attachment A, “Average Monthly Salary” shall equal the average determined by (i) summing the total of Mx. Xxxxxxxx’x highest aggregate monthly salary and cash executive compensation bonuses (excluding equity awards) paid during a consecutive sixty (60) month period within Mx. Xxxxxxxx’x last one hundred and twenty months (120) of Active Employment and (ii) dividing it by sixty (60).
Sample 1
Agreement Benefit. The Corporation agrees to pay Xx. Xxxxxxxx a lump-sum retirement benefit (the “2007 Retirement Agreement Benefit”) that is (a) the actuarial equivalent (as determined in Section 4 below) of a monthly single-life annuity equal to a percentage of his “Average Monthly Salary” (as defined below), (b) reduced by any payments that may be payable under the Corporation’s retirement programs (the “Retirement Program”). This offset shall be calculated based on the normal lifetime benefits payable under the Retirement Program prior to the election of any optional forms for payment of retirement benefits. The percentage referred to in clause (a) of the first sentence of this Section is thirty percent (30.0%) as of April 30, 2004, thirty four percent (34%) as of December 31, 2004, and forty eight percent (48%) as of April 30, 2007, and shall increase by one-half percentage point (0.50%) for each completed calendar month of Active Employment thereafter (such that by June 30, 2009, the percentage will be sixty-one percent (61.0%)). For purposes of this Attachment A, “Average Monthly Salary” shall equal the average determined by (i) summing the total of Xx. Xxxxxxxx’x highest aggregate monthly salary and cash executive compensation bonuses (excluding equity awards) paid during a consecutive sixty (60) month period within Xx. Xxxxxxxx’x last one hundred and twenty months (120) of Active Employment and (ii) dividing the amount derived in (i) above by sixty (60).
Sample 1
Agreement Benefit. 1. We reserve the right to offer an Agreement Benefit with one or moreTariff Plans at any point in time. These Agreement Benefits may be changed or discontinued at Our sole discretion.
Sample 1
Agreement Benefit. 1. We reserve the right to offer an Agreement Benefit with one or more Tariff Plans at any point in time. These Agreement Benefits may be changed or discontinued at Our sole discretion.
Sample 1

Related to Agreement Benefit

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Assignment; Benefit This Agreement is personal and may not be assigned by Employee. This Agreement may be assigned by Employer and shall inure to the benefit of and be binding upon the successors and assigns of Employer.

  • Supplemental Retirement Benefit In addition to the foregoing, Executive shall be eligible to participate in the Supplemental Executive Retirement Plan maintained by Cleco Utility Group Inc. or such other supplemental retirement benefit plans which the Company or its Affiliates may adopt, from time to time, for similarly situated executives (the "Supplemental Plan").

  • Binding Agreement; Benefit The provisions of this Agreement will be binding upon, and will inure to the benefit of, the respective heirs, legal representatives and successors of the parties hereto.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • Net Benefit A Net Benefit for a particular fund or, in the case of a multi-class fund, a class results when aggregate Benefits exceed aggregate Losses (i.e., net redemptions on a day the fund’s or class’s NAV is understated or net subscriptions on a day the fund’s or class’s NAV is overstated) during the Error Period.

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