Full Benefit Sample Clauses

Full Benefit. If Executive does not experience a separation from service with Park and its affiliates (within the meaning of the Treasury Regulations applicable to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”)) (except for such breaks in service prescribed by law, such as the Family and Medical Leave Act) until the Full Vesting Date (as defined in Exhibit A hereto), then commencing upon the Payment Commencement Date (as defined in Exhibit A hereto), Park shall pay to Executive the Full Benefit (as defined in Exhibit A hereto) until Executive’s death, with such Full Benefit to be payable annually beginning on the Payment Commencement Date and on the first business day on or immediately after each anniversary of the Payment Commencement Date and thereafter until Executive’s death.
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Full Benefit. If the Executive remains employed by the Bank or an affiliate thereof until or after the Full Vesting Date (as defined in Exhibit A hereto), then, commencing upon the Payment Commencement Date (as defined in Exhibit A hereto), and continuing on the first business day of each month thereafter until a total of 180 payments have been made to the Executive, the Bank shall pay to the Executive an amount equal to one-twelfth (1/12) of the Full Benefit (as defined in Exhibit A hereto).
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Full Benefit. The Employee shall be eligible to receive a Full Benefit, as defined in Section 5.1 of the Plan, provided that the Employee (i) is at least 56 years old and has participated in the Plan at Benefit Level II for at least ten (10) years, and (ii) remains in the active and continuous employ of the Corporation until he is at least 56 years old. Except as provided in Section 3 below, the Employee shall commence to receive his Full Benefit on the date upon which he terminates his employment with the Corporation (the "Full Benefit Commencement Date").
Sample 1See All (4)
Full Benefit. If Executive does not experience a Separation from Service (except for such breaks in service prescribed by law, such as the Family and Medical Leave Act, or as otherwise agreed in writing expressly authorized by the Board of Directors of the Bank (for a period not to exceed six (6) months)) (as herein defined) until the ‘Full Benefit Date’ (as defined in Exhibit A attached hereto), then upon the Payment Commencement Date (as defined in Exhibit A attached hereto), the Bank shall pay to Executive the Full Benefit (as defined in Exhibit A attached hereto) annually for twenty (20) years, payable in monthly installments beginning on the first business day of the first calendar month after the Payment Commencement Date and on the first business day of each month thereafter until (but including) the twentieth (20th) anniversary of the Payment Commencement Date. For purposes of this Agreement, the phrase ‘Separation from Service’ shall be deemed to occur only if either (i) Executive has ceased to perform any services for the Bank and all affiliated companies that, together with the Bank, constitute the ‘service recipient’ within the meaning of Section 409A of the Internal Revenue Code (‘Code’) and the regulations thereunder (collectively, the ‘Service Recipient’) or (ii) the level of bona fide services Executive performs for the Service Recipient after a given date (whether as an employee or as an independent contractor) permanently decreases (excluding a decrease as a result of military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six (6) months, or if longer, so long as Executive retains a right to reemployment with the Service Recipient under an applicable statute or by contract) to no more than forty percent (40%) of the average level of bona fide services performed for the Service Recipient (whether as an employee or an independent contractor) over the immediately preceding 36-month period (or the full period of service if Executive has been providing services to the Service Recipient for less than 36 months). If, at the written request of the Bank, the Executive continues full time employment with the Bank beyond attainment of age sixty-five (65) before experiencing a Separation from Service (unless due to discharge For Cause), then for each full year of service completed after the attainment of age sixty-five (65), the Full Benefit will increase by the Annual COLA Percentage (as defined in Exhibit A her...
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Full Benefit. If Executive’s employment terminates for any reason other than pursuant to Section 6(d) (Cause) , the Enhanced SERP shall be governed by the terms of the Plan in all respects except that the Benefit Amount (defined in Section 1.3 of Plan) shall equal the New Benefit Amount (as hereinafter defined).
Sample 1
Full Benefit. If Executive does not experience a separation from service with the Bank and its affiliates (within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the related guidance thereunder) until on or after the Full Vesting Date (as defined in Exhibit A hereto), then commencing upon the Payment Commencement Date (as defined in Exhibit A hereto), Bank shall pay to Executive the Full Benefit (as defined in Exhibit A hereto) annually for twenty (20) years, payable in monthly installments beginning on the first business day of the first calendar month after the Payment Commencement Date and on the first business day of each month thereafter until (but including) the twentieth (20th) anniversary of the Payment Commencement Date.”
Sample 1
Full Benefit. While Either the Annuitant or the Second Annuitant is Alive, with or without a 10-, 15- or 20-Year Guaranteed Period. The full monthly income will continue as long as either the Annuitant or the Second Annuitant is alive. If you choose a guaranteed period and Your Teachers Personal Annuity Contract the Annuitant and the Second Annuitant both die before the end of the period chosen, the full monthly income will continue to the end of that period. Two-thirds Benefit After the Death of Either the Annuitant or the Second Annuitant, with or without a 10-, 15- or 20-Year Guaranteed Period. At the death of either the Annuitant or the Second Annuitant, monthly payments equal to two-thirds of the amount that would have been paid if both had lived will continue for the life of the survivor. If you choose a guaranteed period and the Annuitant and the Second Annuitant both die before the end of the period chosen, monthly payments equal to two- thirds of the amount that would have been paid if both had lived will continue to the end of that period. Half Benefit After the Death of the Annuitant, with or without a 10-, 15- or 20- Year Guaranteed Period. The full monthly income will continue as long as the Annuitant is alive. If the Second Annuitant survives the Annuitant, monthly payments equal to one-half the amount that would have been paid if the Annuitant had lived will continue for the life of the Second Annuitant. If you choose a guaranteed period and the Annuitant and the Second Annuitant both die before the end of the period chosen, monthly payments equal to one-half the amount that would have been paid if the Annuitant had lived will continue to the end of that period.
Sample 1
Full Benefit. The Employee is entitled to receive the full benefit listed on the "Benefit Supplement" attached hereto. The annual amount as stated in the Benefit Supplement shall be paid in equal installments on a monthly basis and for the term of years as set forth within the Benefit Supplement. Payment of the benefits is conditioned upon the officer not acting in any employment or policy-making capacity for any business enterprise which competes with Bank, nor engaging in any activity involving competition with Bank after termination of employment. In the event of violation of this provision, all future payments shall be canceled and discontinued. The Board of Directors may waive these conditions.
Sample 1
Full Benefit. Otherwise enable NGC to obtain the full benefit of the provisions of this Deed.
Sample 1

Related to Full Benefit

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Retirement Benefit (i) In consideration of the Executive's past services to the Company, the Executive shall be entitled to a retirement benefit, payable monthly for his life, in an amount equal to 50 percent of his highest monthly Base Salary during the Employment Term. Such payments shall commence on the first day of the month coincident with or next following the later of the Executive's attainment of age 58 or the end of the Employment Term (the "Commencement Date"); provided, however, that if the Employment Term terminates prior to his attainment of age 58, the Executive may elect by written notice to the Company to have such payments commence on the first day of any month after such termination of employment (the "Early Commencement Date") in a monthly amount equal to the monthly amount that the Executive would have received at the Commencement Date, reduced by one-third of one percent (.33%) per month for each month by which the Early Commencement Date precedes the Commencement Date. The amount of each payment hereunder shall be increased on each January 1 following the Early Commencement Date or Commencement Date, as applicable, by an amount determined by multiplying the amount of each monthly payment made in the preceding year by the percentage increase, if any, in the cost of living from the preceding January 1, as reflected by the Consumer Price Index. The Executive's election to have his retirement benefit payments commence on the Early Commencement Date shall not affect the Company's obligation to pay consulting fees to the Executive in accordance with Section 4 hereof. The retirement benefit shall be an unconditional, but unsecured, general credit obligation of the Company to the Executive, and nothing contained in this Agreement, and no action taken pursuant to it, shall create or be construed to create a trust of any kind between the Company and the Executive. The Executive shall have no right, title or interest whatever in or to any investments which the Company may make (including, but not limited to, an insurance policy on the life of the Executive) to aid it in meeting its obligations hereunder. (ii) From time to time, the Company shall make such contributions to the trust established under the Trust Agreement dated as of December 18, 1986 (the "1986 Trust") between the Company, as grantor, and Wixxxxx X. Xxxxxxxx, as successor trustee, to provide a sufficient reserve for the discharge of its obligation to pay the retirement benefit to the Executive as provided in clause (i) of this Section 3(c) and clauses (ii) and (iii) of Section 5(a) hereof.

  • 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

  • Public Benefit It is XR's understanding that the commitments it has agreed to herein, and actions to be taken by XR under this Settlement Agreement confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of XR that to the extent any other private party serves a notice and/or initiates an action alleging a violation of Proposition 65 with respect to XR's alleged failure to provide a warning concerning actual or alleged exposure to DEHP prior to use of the Covered Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Covered Products addressed in this Settlement Agreement, provided that XR is in material compliance with this Settlement Agreement.

  • 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.

  • Dental Benefits The County offers dental and orthodontic benefits to full and part-time regular employees and their eligible dependent(s). Benefit provisions, co­ payments and deductibles are outlined in the Evidence of Coverage. The employee contribution is $13 per pay period ($28.26 per month). The County shall contribute to part-time eligible employees on a pro-rated basis, in accordance with Section 10.2.6.

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

  • Life Annuity In addition to the rules imposed by the Act, a life annuity purchased with the property of the Plan must comply with Pension Legislation and must be established for the Annuitant’s life. However, if the Annuitant has a Spouse on the date payments under the life annuity begin, the life annuity must be established for the lives jointly of the Annuitant and the Annuitant’s Spouse, unless the Spouse has provided a waiver in the form and manner required by Pension Legislation. Where the surviving Spouse is entitled to payments under the life annuity after the Annuitant’s death, those payments must be at least 60 percent of the amount to which the Annuitant was entitled prior to the Annuitant’s death. The life annuity may not differentiate based on gender except to the extent permitted by Pension Legislation.

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

  • 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.

Most Referenced Clauses

Most Referenced Definitions