Benefit Equalization Plan Sample Clauses
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Benefit Equalization Plan. During the Contract Period, if the Executive was entitled to benefits under the Company’s Benefit Equalization Plan (“BEP”) prior to the Change in Control, the Executive shall be entitled to continued benefits under the BEP after the Change in Control and such BEP may not be modified to reduce or eliminate such benefits during the Contract Period.
Benefit Equalization Plan. 6 F. Board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 G. Cause . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Benefit Equalization Plan. The Company acknowledges that the Executive is a participant in the ▇▇▇▇▇▇ Oceanics Benefit Equalization Plan (the “Benefit Equalization Plan”), and that he shall receive any benefits due under the Benefit Equalization Plan in accordance with the terms and conditions of the Benefit Equalization Plan and the Deferral Agreement under the Benefit Equalization Plan in effect on the Date of the Agreement (the “Deferral Agreement”). Based on Section 2.5 of the Agreement and the terms of the Benefit Equalization Plan and the Deferral Agreement, the parties anticipate that the Benefit Equalization Plan payments shall be made as follows: (i) with respect to payments elected to be made in a single lump sum payment upon a Separation from Service, on July 2, 2013, and (ii) with respect to payments elected to be received in five annual installment payments, the first of five annual installments shall be made on July 2, 2013 and thereafter each subsequent installment shall be made on each subsequent anniversary thereof.
Benefit Equalization Plan. Within a reasonable period of time after the Effective Time, Buyers shall provide to the Transferred Employees (other than those Transferred Employees employed by Agilysys Canada) then in its employ who were participants in the Agilysys, Inc. Benefit Equalization Plan (the “BEP”) at the Effective Time, the opportunity to participate in a nonqualified deferred compensation plan of Buyers to the extent such a plan is available to similarly situated employees of Buyers.
Benefit Equalization Plan. The Executive's participation in the Crompton Corporation Benefit Equalization Plan (the "BEP") shall terminate as of December 31, 2004. As soon as reasonably practicable following the Separation Date, the Company will cause the BEP to pay to the Executive in cash the balance in the Executive's BEP Account after withholding such amount as is required to satisfy tax withholding requirements. A statement of the Executive's benefits under this Plan shall be provided to the Executive separately.
Benefit Equalization Plan. For all purposes of determining the Supplemental Benefit under Section 1.12 of the Benefit Equalization Plan, total compensation shall mean $2,200,000.
Benefit Equalization Plan. Seller will be solely responsible for the payment of accrued benefits of Company Employees under the Buckeye Pipe Line Services Company Benefit Equalization Plan. The obligations under the Buckeye Pipe Line Services Company Benefit Equalization Plan will not be treated as an Assumed Seller Employee Benefit Plan for purposes of this Agreement.