Annual Retirement Benefit Sample Clauses

Annual Retirement Benefit. During the term of employment hereunder, the Company will pay the Executive an annual retirement benefit of $35,000 payable by installment on a quarterly basis, less applicable taxes and withholdings.
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Annual Retirement Benefit. Beginning January 1, 2004 and continuing each year until December 1, 2013 (the "Benefit Period") the Company shall pay to the Executive an annual retirement benefit in the amount of $150,000 in twelve monthly installments (the "Annual Retirement Benefit"). The amount of the Annual Retirement Benefit for each year payable by the Company during the Benefit Period shall be reduced, but not below zero, by an amount equal to the sum of (i) the amount received during such year by the Executive from the United States Social Security Administration; (ii) Company's pension plan, (iii) Company's executive deferred compensation plan, (iv) Company's profit sharing plan and 401(k) plan; and amounts received under a deferred compensation plan that the Company will establish and fund (using a "rabbi trust") in the amount of $185,000 per year for the duration of this three year Employment Period; provided, however, that to the extent commencement of benefits under any of the foregoing plans or arrangements is elective and Executive does not elect to commence such benefits on or before the beginning of the Benefit Period, then until such time as Executive actually begins to receive benefits under such plans or arrangements the Executive shall be deemed to have commenced receiving the maximum possible benefits thereunder at the beginning of the Benefit Period under such plans for purposes of calculating to what extent the Company has an obligation to pay any additional amounts toward the Annual Retirement Benefit.
Sample 1
Annual Retirement Benefit. From January 1, 2013 to December 31, 2015 (the “Retirement Period”), Molex shall pay Xxxxxxxxxxxxx an annual retirement benefit in an amount equal to 100% of his base salary as of his Retirement Date, less applicable deductions and tax withholdings, payable in equal installments in accordance with Molex’s regular payroll practice with the first installment being paid on the first regular payroll date following January 1, 2013. These payments shall continue to Xxxxxxxxxxxxx’x surviving spouse in the event of his death prior to the end of the Retirement Period. In the event of the death of Xxxxxxxxxxxxx’x surviving spouse prior to the end of the Retirement Period, the annual retirement benefits shall cease with the month of her death and no further annual retirement benefits shall be payable.
Sample 1
Annual Retirement Benefit. From July 1, 2014 to June 30, 2016 (the “Retirement Period”), Molex shall pay Hirokawa-san an annual retirement benefit in an amount equal to (i) 100% of his base salary as of his Retirement Date, and (ii) an annual car allowance of USD$ 16,800 (converted and paid in Japanese Yen as of July 1 2014), less applicable deductions and tax withholdings, payable in equal installments in accordance with Molex’s regular payroll practice with the first installment being paid on the first regular payroll date following July 1,
Sample 1
Annual Retirement Benefit. Subject to the terms and conditions specified in this Agreement, the Bank hereby agrees that if the Recipient remains continuously in the service of the Bank and/or the Holding Company from December 31, 1999 for seven (7) additional years, the Bank will pay to the Recipient an Annual Retirement Benefit (“ARB”) consisting of the following series of installment payments: 1 $ 55,127 2 $ 56,715 3 $ 58,348 4 $ 60,028 5 $ 61,757 6 $ 63,536 7 $ 65,366 8 $ 67,248 9 $ 69,185 10 $ 71,177 11 $ 73,227 12 $ 75,336 13 $ 77,506 14 $ 79,738 15 $ 82,035 The ARB shall be payable following the Recipient’s Normal Retirement Date in annual installments as set forth above. The first annual installment will be payable on the first day of the month following the Recipient’s Normal Retirement Date, as defined in Section 3, and then continuing on each anniversary thereof until a total of fifteen (15) annual installments have been paid. If the Recipient dies after commencement of benefits under this section, but prior to receiving all of the installment payments due hereunder, the remaining annual installment payments otherwise due shall be made to the Recipient’s Beneficiary(ies) (as such Beneficiaries are set out on Schedule “A” and otherwise described in Section 6) in accordance with the provisions of this Agreement. Upon payment to the Recipient and/or his Beneficiary(ies) of a total amount equal to the fifteen (15) annual payments, no further ARB payments shall be due under this Agreement.
Sample 1
Annual Retirement Benefit. From July 1, 2014 to June 30, 2017 (“Retirement Period”), Molex shall pay Xxxxx an annual retirement benefit in an amount equal to 100% of his base salary as of his Retirement Date, less applicable deductions and tax withholdings, payable in equal installments in accordance with Molex’s regular payroll practice with the first installment being paid on the first regular payroll date following July 1, 2014. These payments shall continue to Xxxxx’x surviving spouse in the event of his death prior to the end of the Retirement Period. In the event of the death of Xxxxx’x surviving spouse prior to the end of the Retirement Period, the annual retirement benefits shall cease with the month of her death and no further annual retirement benefits shall be payable.
Sample 1
Annual Retirement Benefit. From and after the Retirement Date, Neose will pay to Employee, or his applicable heirs or personal representatives, an annual retirement benefit, payable bimonthly, less applicable withholding, at the following rates: 4.1.1 From the Retirement Date, through December 31, 2002, at an annual rate of $175,000. 4.1.2 From January 1, 2003 through December 31, 2003, at an annual rate of $125,000. 4.1.3 From January 1, 2004 through December 31, 2006, at an annual rate of $100,000.
Sample 1
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Annual Retirement Benefit. Annual Retirement Benefit" shall mean an amount equal to Five Hundred Thousand Dollars ($500,000.00) for calendar year 2001 and 2002, which sum shall be increased (but only during Executive's period of employment) as of January 1, 2003 and as of the first day of January of each year thereafter to an amount equal to the Annual Retirement Benefit in effect for the immediately preceding calendar year increased by a percentage equal to the percentage increase in the CPI (as defined below) during the immediately preceding calendar year over the prior calendar year.
Sample 1
Annual Retirement Benefit. From July 1, 2014 to June 30, 2016 (the “Retirement Period”), Molex shall pay Hirokawa-san an annual retirement benefit in an amount equal to (i) 100% of his base salary as of his Retirement Date, and (ii) an annual car allowance of USD$ 16,800 (converted and paid in Japanese Yen as of July 1 2014), less applicable deductions and tax withholdings, payable in equal installments in accordance with Molex’s regular payroll practice with the first installment being paid on the first regular payroll date following July 1, 2014. These payments shall continue to Xxxxxxxx-xxx’s surviving spouse in the event of his death prior to the end of the Retirement Period. In the event of the death of Xxxxxxxx-xxx’s surviving spouse prior to the end of the Retirement Period, the annual retirement benefits shall cease with the month of her death and no further annual retirement benefits shall be payable. Xxxxxxxx-xxx may elect to take this payment in full in one lump sum upon retirement, payable as soon as administratively practicable following his retirement.
Sample 1

Related to Annual Retirement Benefit

  • 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.

  • 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.

  • Early Retirement Benefit Upon Termination of Service prior to the Normal Retirement Age for reasons other than death, Change of Control or Disability, the Company shall pay to the Director the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.

  • Supplemental Retirement Benefit The Executive will be entitled to receive a monthly Supplemental Retirement Benefit (the "Supplemental Retirement Benefit") commencing on the first day of the month coincident with or following the later of the Executive's termination of employment or attainment of age 60 and continuing for the remainder of his life. Unless otherwise elected by the Executive, the Supplemental Retirement Benefit shall be payable in the form of a 50% joint and survivor annuity which shall be unreduced for the actuarial value of the survivor's benefit. If the Executive's spouse at the time of his death is not more than four years younger than the Executive, the survivor benefit shall be equal to 50% of the Executive's benefit and shall be payable to his spouse for the remainder of the spouse's life. If the Executive's spouse at the time of his death is more than four years younger than the Executive, the benefit payable to the spouse shall be reduced to a benefit having the same actuarial value as the benefit that would have been payable had the spouse been four years younger than the Executive. The Executive shall also have the right to elect a 100% joint and survivor annuity, on an actuarially-reduced basis or a lump-sum payment, on an actuarially-reduced basis (if the Executive makes a timely lump-sum election which avoids constructive receipt), or any other form of payment available or provided under the "Supplemental Plans" defined in this Section 8. Actuarial reductions shall be based on the actual ages of the Executive and his spouse at the time of retirement. If the Executive is not married at the time of his retirement, actuarial adjustments shall be made as if the Executive had a spouse with the same date of birth as the Executive. In the event that the Executive elects a form of payment other than the automatic 50% joint and survivor annuity or other than a lump sum payment, and remarries subsequent to retirement, the benefits payable under this Section shall be actuarially adjusted at the time of the Executive's death to reflect the age of the subsequent spouse. If the Executive elects a lump sum payment at retirement, no further benefits will be payable under this Section.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • 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.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

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