Lump Sum Payment for Additional Two Years of Service Sample Clauses

Lump Sum Payment for Additional Two Years of Service. If you are not a participant in the Retirement Income Restoration Plan of ENSERCH Corporation ("RIRP") (the RIRP has provisions comparable to this subparagraph (ix)) when your employment with the Company is terminated within the first three years after a change in control, by the Company without Cause or by you for Good Reason, you shall receive from the Company, at the time you first receive any payment under or with respect to the Retirement Plan, an amount (calculated and paid in the form of a lump sum) equal to the difference between (i) the "Lump Sum", as defined below, value of any payment you receive at such time (or any monthly annuities that you then become entitled to receive) from (a) the Retirement Plan and (b) from the Company with respect to the portion, if any, of your Retirement Plan pension which exceed the limitations on pension amounts to which the Retirement Plan is subject and (ii) the Lump Sum value of payments that would have been payable if it or they had been calculated as if you had been deemed to have had two (2) additional "Years of Service", as defined below. "Years of Service" shall be as defined in the Retirement Plan and shall be applied as if you were a participant thereunder at the time of your termination of employment, and "Lump Sum" shall mean an amount calculated in accordance with the interest rate and other actuarial assumptions set forth or used in connection with lump sum calculations under the Retirement Plan.
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Lump Sum Payment for Additional Two Years of Service. If the Retirement Income Restoration Plan of ENSERCH Corporation or the Company's successor plan thereto ("RIRP") does not have provisions comparable to this subparagraph (ix) when your employment with the Company is terminated within the first three years after a change in control, by the Company without Cause or by you for Good Reason, you shall receive from the Company, at the time you first receive any payment under or with respect to the Retirement Plan, an amount (calculated and paid in the form of a lump sum) equal to the difference between (i) the "Lump Sum", as defined below, value of any payment you receive at such time (or any monthly annuities that you
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Related to Lump Sum Payment for Additional Two Years of Service

  • Years of Service A Participant’s Years of Service shall include all service performed for the Employer and ¨ Shall ¨ Shall Not include service performed for the Related Employer.

  • Credited Service In addition to Current Credited Service the Adopting Employer may include as Credited Service the following types of service:

  • PERIOD OF SERVICE The Grant Services will commence on the Start Date and shall expire on the End Date as set forth in the SUMMARY PAGE.

  • 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

  • Year of Service An Employee must complete at least Hours of Service during a Vesting Computation Period to receive credit for a Year of Service under Article V. [Note: The number may not exceed 1,000. If left blank, the requirement is 1,000.]

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Term of Service Except as otherwise provided in this Agreement, Atlas shall serve as the Managing General Partner of the Partnership until either it:

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid If you hold Plan accounts in an omnibus account (i.e., multiple Plans in one account on the books of the Funds), Plans that are added to the omnibus account after May 15, 2002 may invest only in R shares, and you must execute an Omnibus Addendum to the Selling Group Agreement, which you can obtain by calling our Home Office Service Team at 800/421-5475, extension 8.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

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