Form, Timing and Amount of Benefit Sample Clauses

Form, Timing and Amount of Benefit. Benefits shall be payable to Employee upon his retirement eligibility and election, following his termination of employment with PNM, pursuant to any annuity form available under the Retirement Plan with appropriate actuarial equivalence adjustments as defined in the Retirement Plan, for forms other than a single life annuity on Employee's life.
Sample 1Sample 2
AutoNDA by SimpleDocs
Form, Timing and Amount of Benefit. (a) The benefits payable under paragraph 1 above shall be payable pursuant to any annuity form available under the Retirement Plan with appropriate actuarial adjustments for forms other than a single life annuity on Maerki's life. The form shall be selected prior to Maerki's termination of employment.
Sample 1
Form, Timing and Amount of Benefit. All payments shall be made in accordance with this Section. Prior to the amendment and restatement of this Agreement, payments to Employee were to be made “upon his retirement eligibility and election.” That provision is no longer permissible under the final regulations issued pursuant to Section 409A of the Code. By the adoption of this amended and restated Agreement, Employee and Company agree and Employee elects to have payments made in accordance with Section 9(a), unless Employee elects otherwise as described in Section 9(a)(1) or (2). The provisions of Section 9(a) are intended to be a new payment election in accordance with the transition relief provided by Notice 2006-79 and Notice 2007-86.
Sample 1
Form, Timing and Amount of Benefit. All payments shall be made in accordance with this Section.
Sample 1

Related to Form, Timing and Amount of Benefit

  • Amount of Benefit The annual benefit under this Section 3.1 is the Normal Retirement Benefit amount described in Section 2.1.1.

  • Amount of Benefits The vested amount credited to a Participant’s Account as determined under Articles 6, 7 and 8 shall determine and constitute the basis for the value of benefits payable to the Participant under the Plan.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • Distribution of Benefit The Bank shall distribute the annual benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Executive for fifteen (15) years.

  • Death Benefit Amount The Death Benefit Amount as of any Business Day prior to the Annuity Date is equal to the greater of:

  • Calculation of Benefits Immediately following delivery of any Notice of Termination, the Company shall notify the Executive of the aggregate present value of all termination benefits to which he would be entitled under this Agreement and any other plan, program or arrangement as of the projected Date of Termination, together with the projected maximum payments, determined as of such projected Date of Termination that could be paid without the Executive being subject to the Excise Tax.

  • Distribution of Benefits Payment to Executive shall occur within thirty (30) days of the effective date of Executive's vesting in his Deferred Bonus Account. For purposes of determining the distributable amount, the Deferred Bonus Account shall be valued through the day prior to the day on which the Deferred Bonus Account is distributed, less any claim, debt, reimbursement, recoupment, or offset the Company may have against Executive.

  • ACCRUAL OF BENEFIT The Advisory Committee will determine the accrual of benefit (Employer contributions and Participant forfeitures) on the basis of the Plan Year in accordance with the Employer's elections in its Adoption Agreement.

  • Non-Duplication of Benefits Executive is not eligible to receive benefits under this Agreement more than one time.

  • Payment of Benefits Any amounts due under this Agreement shall be paid in one (1) lump sum payment as soon as administratively practicable following the later of: (i) Xx. Xxxxxx'x Termination Date, or (ii) upon Xx. Xxxxxx'x tender of an effective Waiver and Release to the Company in the form of Exhibit A attached hereto and the expiration of any applicable revocation period for such waiver. In the event of a dispute with respect to liability or amount of any benefit due hereunder, an effective Waiver and Release shall be tendered at the time of final resolution of any such dispute when payment is tendered by the Company.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!