Deferred Benefit. During each year that this Contract is in effect, the Board shall contribute a sum equal to ten percent (10%) of the Superintendent=s annual salary on behalf of the Superintendent to a retirement plan qualified under § 403-B of the IRS code selected by the Superintendent.
Deferred Benefit. (263) (30) -------- --------- (230) (5) -------- --------- Net income (loss)........................................ $ 2,928 $ (295) ======== ========= Net income (loss) per share-basic........................ $ .23 $ (0.03) ======== ========= Net income (loss) per share-diluted...................... $ .20 $ (0.03) ======== ========= Weighted average number of shares outstanding-basic...... 12,800 11,486 ======== ========= Weighted average number of shares outstanding-diluted.... 17,812 11,486 ======== ========= The accompanying notes to consolidated financial statements of Southern Mineral Corporation and subsidiaries are an integral part of these statements. SOUTHERN MINERAL CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands)
Deferred Benefit. (a) If the Executive terminates employment following the completion of 5 years of Continuous Servivce but prior to the completion of 10 years of Continuous Service, he shall be entitled to receive a Supplemental Target Pension Benefit, expressed as a single life annuity commencing on the date determined pursuant to subsection (b) of this Section (without regard to Sections 2.6 and 2.7), equal to (A) his Gross Benefit, reduced by (B) the sum of the following: (i) the benefit that would be or would have been payable to the Executive as a single life annuity under the Pension Plan commencing on the Commencement Date; (ii) the Restoration Plan Benefit that would be or would have been payable to the Executive as a single life annuity under the Restoration Plan commencing on the Commencement Date; (iii) the Executive's 401(k) Plan Benefit Offset as of the Commencement Date; and (iv) the Executive's Social Security Benefit that would be or would have been payable as a single life annuity commencing on the Commencement Date.
(b) Subject to Sections 2.6 and 2.7, a Supplemental Target Pension Benefit payable to the Executive pursuant to this Section shall commence on the first day of the month after the Executive's attainment of age 65.
Deferred Benefit. A disabled Member who is receiving benefits under the Long-Term Disability Plan of Xxxxx’x Corporation shall be entitled to a benefit payable on his or her Normal Retirement Date. Such Member’s Retirement Account shall continue to be maintained and credited with notional Company Credits (as determined under the rules prescribed in Section 7.4) and Interest Credits until he or she attains Normal Retirement Age. A Member who, as of the Effective Date, has satisfied the age and service requirements set forth in paragraph 4.1(c) hereof will continue to earn Credited Service for the purpose of determining the special Grandfather Benefit Amount under Section 4.9. Upon attainment of Normal Retirement Age, Company Credits, Interest Credits and Credited Service, if any, will no longer be credited to such Member’s Retirement Account and the Accrued Benefit shall be paid to him or her under the terms of Article 8. Notwithstanding the foregoing provisions of this Section 7.3, a Disabled Member may elect to begin the receipt of his or her vested Accrued Benefit at an earlier Benefit Commencement Date. In such event, the Member’s Company Credits, Interest Credits and Credited Service will cease to be credited as of the Benefit Commencement Date.
Deferred Benefit. Any Participant is eligible for a deferred benefit if the Participant is vested under the Retirement Income Plan or the Pension Plan but is not eligible for either a service or a disability pension under the Service-Based Provisions of the Retirement Income Plan or under the Pension Plan.
Deferred Benefit. The balance credited to the Officer's bookkeeping account from time to time pursuant to Section 4 of this Agreement.
