Enhanced Retirement Benefits. In determining the defined benefit retirement benefits made available to the Executive, the Executive shall be entitled to receive the additional benefits that would have been payable or available to the Executive under any employee benefit plan based on (x) the service the Executive would have attained or completed had the Executive continued in the Company's employ until the End Date and, (y) where compensation is a relevant factor, his/her pensionable compensation at the Date of Termination. Notwithstanding the foregoing, the Executive shall not receive any service credit for any period after the Executive has attained 65.
Enhanced Retirement Benefits. (i) If you attain age 55 while employed by the Company, your retirement benefits under the Company’s Pension Plan and Benefit Restoration Plan will be computed based on the greater of (A) your years of credited service (as determined pursuant to the terms of the Pension Plan), or (B) twenty-five (25) years of credited service. If you attain age 60 while employed by the Company, your retirement benefits under the Company’s Pension Plan and Benefit Restoration Plan will be computed at such date, and at any time thereafter, based on the greater of (A) your years of credited service (as determined pursuant to the terms of the Pension Plan), or (B) thirty (30) years of credited service. Any supplemental benefit to be provided under this section will be provided as a supplemental benefit under this Agreement and will not be provided directly from the Pension Plan. Any deemed credited service under the Employment Continuity Agreement shall be credited in addition to this provision.
Enhanced Retirement Benefits. Regardless of the Executive's age or completed service with the Company on his Date of Termination, the Executive shall (for all purposes in determining the amount of any defined benefit retirement benefits payable, and the retiree medical and retiree life benefits made available, to the Executive and the time at which such benefits may commence to be paid) be deemed to be age 58 1/2with 25 years of service and shall, upon such Date of Termination, immediately begin receiving his defined benefit retirement benefits without any actuarial reduction for early commencement. In addition, the Executive shall, upon Date of Termination, be entitled to receive from the Company all of the perquisites customarily provided to retired Chief Executive Officers of the Company. The pension payable to the Executive shall, notwithstanding anything to the contrary in any plan that is less favorable to the Executive, be determined based upon the higher of (i) the Executive's compensation (consisting of Base Salary plus incentive compensation) during the 36 month period ending on June 30, 2009 or (ii) the Executive's highest 3 consecutive calendar years of compensation (consisting of Base Salary plus incentive compensation) during the 10 year period ending June 30, 2009; provided that in making these determinations, for the period beginning with the Date of Termination and ending on December 31, 2009, the Executive shall be deemed to have received his Base Salary plus incentive compensation based upon achieving target performance goals. Notwithstanding anything else contained in this Agreement to the contrary, the benefit described in this Section 7(c)(iii) shall be made available to the Executive upon any termination of employment, regardless of whether occurring within the Employment Period, of a nature that would have constituted a termination by the Company without Cause or by the Executive for Good Reason if it had occurred during the Employment Period (i.e., the Executive shall be entitled to receive this benefit due to a qualifying termination even if occurring more than three years after the Effective Date). Notwithstanding the foregoing, the Executive shall not receive any service credit for any period after the Executive has attained age 65.
Enhanced Retirement Benefits. 1. Current practice for represented employee retirement benefits shall continue except as modified below.
Enhanced Retirement Benefits. Regardless of the Executive's age or completed service with the Company on the Date of Termination, for all purposes in determining the amount or commencement date of any defined benefit retirement benefits, retiree medical, and retiree life benefits, the Executive shall be deemed to have worked at least until the earliest age at which the Executive could retire and immediately commence receipt of retirement benefits on an actuarially reduced basis.
Enhanced Retirement Benefits. In consideration of Executive's prior services to NationsBank and Executive's compliance with the terms and conditions of the Noncompetition Agreement, NationsBank shall pay to Executive the following enhanced retirement benefits subject to the provisions of paragraph 2 below:
Enhanced Retirement Benefits. 2.1 Subject to Sections 2.5 and 2.6 herein, the Executive shall receive an annuity payable in monthly installments, the first such installment being paid on the first day of the month following the month in which the Executive's employment terminates, and the last such installment being paid on the first day of the month in which the Executive dies, in which the annual amount is 1.5% of the Executive's Final Average Pay (as defined herein) times his year of Benefit Service (as defined in the Hasbro, Inc. Pension Plan), but not to exceed 60% of Final Average Pay; PROVIDED, however that if the Executive retires or his employment is terminated before February 1, 2005 the annual amount of such benefits shall be reduced by one third of one-percent for each full month remaining between the month that the Executive's employment ends and March 1, 2005 (E.G., if the Executive's employment ends twelve (12) months prior to March 1, 2005, the Executive shall be eligible for 96% of the otherwise due annual annuity) (such benefits, reduced as set forth in the following sentence, shall be referred to hereafter as the "Enhanced Retirement Benefits"). The amount payable under the preceding sentence shall be reduced by (a) the lifetime benefits (straight life annuity) payable under the Hasbro, Inc. Pension Plan (the "Pension Plan") and (b) the excess pension benefits payable under the Hasbro, Inc. Supplemental Benefit Retirement Plan (the "Supplemental Benefit Plan"). For purposes of this Section 2.1, the Executive's Final Average Pay per year is equal to: his Five Year Average Compensation as such term is defined in the Pension Plan, determined without regard to any limitations imposed by Section 401(a)(17) or Section 415(b) of the Internal Revenue Code, but including as compensation any of the Executive's elective deferrals under Hasbro's Deferred Compensation Plan.
Enhanced Retirement Benefits. The Company shall pay the Executive or the Executive's surviving spouse, as applicable, Enhanced Retirement Benefits as set forth in, and calculated pursuant to, Section 2 of the Post-Employment Agreement. Such Enhanced Retirement Benefits shall be paid in accordance with the Executive's timely made selections.
Enhanced Retirement Benefits. The Executive shall have until 21 calendar days after the Retirement Date to consider whether to sign and return the Waiver and Release attached hereto as Attachment A to the Company by first class mail or by hand delivery. In consideration for the Executive’s execution of and compliance with this Agreement, and subject to the conditions set forth herein, the Company shall provide the consideration set forth below in this Section 4. This consideration is provided subject to the binding execution by the Executive (without revocation) of the Waiver and Release, which must be executed during the period beginning on the Retirement Date and ending on the date that is 21 calendar days after the Retirement Date.
Enhanced Retirement Benefits. If the Executive continues to be employed by the Corporation until July 1, 2004, he will be provided with a special enhanced retirement benefit commencing at retirement on or after that date. Details concerning retirement benefits will be determined in accordance with the terms of a separate agreement, but in the event of retirement at or after July 1, 2004, the benefit would approximate 50% of the sum of his salary and annual bonus averaged over the last three years of his service with the Corporation, the present value of which will be reduced by the sum of the present values of all retirement benefits accrued or paid with respect to his previous employment with other companies and all retirement benefits derived from other retirement programs maintained by the Corporation. The Executive will not participate in the Corporation's SERP.
