Common use of Payment of Retirement Compensation Clause in Contracts

Payment of Retirement Compensation. (i) Within five business days after the date on which the BE Aerospace, Inc. Executive Compensation Trust II dated April 21, 1999, as amended, is terminated (the “Distribution Date”), the Company will distribute the amount of Retirement Compensation that would have been payable to Executive under Section 7.6.1 as of the Distribution Date, based on his years of service through the Distribution Date and his then Specified Annual Salary. (ii) Within five (5) business days after Executive’s actual Termination Date, the Company shall pay to Executive an amount equal to (x) the Retirement Compensation payable to Executive as determined in Section 7.6.1 hereof less (y) the sum of (1) the amount of Retirement Compensation previously distributed to Executive pursuant to Section 7.6.2(i) hereof, and (2) the amounts previously distributed pursuant to Section 7.6.3(i) or 7.6.3(ii).

Appears in 2 contracts

Samples: Employment Agreement (B/E Aerospace Inc), Employment Agreement (Be Aerospace Inc)

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Payment of Retirement Compensation. (i) Within five business days after the date on which the BE Aerospace, Inc. Executive Compensation Trust II dated April 21, 1999, as amended, is terminated (the "Distribution Date"), the Company will distribute the amount of Retirement Compensation that would have been payable to Executive under Section 7.6.1 as of the Distribution Date, based on his years of service through the Distribution Date and his then Specified Highest Annual Salary. (ii) Within five (5) business days after Executive’s 's actual Termination Date, the Company shall pay to Executive an amount equal to (x) the Retirement Compensation payable to Executive as determined in Section 7.6.1 hereof less (y) the sum of (1) the amount of Retirement Compensation previously distributed to Executive pursuant to Section 7.6.2(i) and 7.4.1(ii) hereof, and (2) the amounts previously distributed pursuant to Section 7.6.3(i) or 7.6.3(ii).

Appears in 1 contract

Samples: Employment Agreement (Be Aerospace Inc)

Payment of Retirement Compensation. (i) Within five business days after the date on which with the BE Aerospace, Inc. Executive Compensation Trust II dated April 21, 1999, as amended, is terminated (the "Distribution Date”)", the Company will distribute the amount of Retirement Compensation that would have been payable to the Executive under Section 7.6.1 7.6(a) as of the Distribution Date, based on his years of service through the Distribution Date and his then Specified Highest Annual Salary. (ii) Within five (5) business days after the Executive’s 's actual Termination Date, the Company shall pay to the Executive an amount equal to (x) the Retirement Compensation payable to the Executive as determined in Section 7.6.1 7.6(a)(i) hereof less (y) the sum of (1) the amount of Retirement Compensation previously distributed to the Executive pursuant to Section 7.6.2(i7.6(b)(i) and 7.4(a)(ii) hereof, and (2) the amounts previously distributed pursuant to Section 7.6.3(i7.6(c)(i) or 7.6.3(ii7.6(c)(ii).,

Appears in 1 contract

Samples: Employment Agreement (Be Aerospace Inc)

Payment of Retirement Compensation. (i) Within five business days after the date on which the BE Aerospace, Inc. Executive Compensation Trust II dated April April 21, 1999, as amended, is terminated (the "Distribution Date"), the Company will distribute the amount of Retirement Compensation that would have been payable to Executive under Section 7.6.1 as of the Distribution Date, based on his years of service through the Distribution Date and his then Specified Highest Annual Salary. (ii) Within five (5) business days after Executive’s 's actual Termination Date, the Company shall pay to Executive an amount equal to (x) the Retirement Compensation payable to Executive as determined in Section 7.6.1 hereof less (y) the sum of (1) the amount of Retirement Compensation previously distributed to Executive pursuant to Section 7.6.2(i) and 7.4.1(ii) hereof, and (2) the amounts previously distributed pursuant to Section 7.6.3(i) or 7.6.3(ii).

Appears in 1 contract

Samples: Employment Agreement (Be Aerospace Inc)

Payment of Retirement Compensation. (i) Within five business days after the date on which the BE Aerospace, Inc. Executive Compensation Trust II dated April 21, 1999, as amended, is terminated (the "Distribution Date"), the Company will distribute the amount of Retirement Compensation that would have been payable to the Executive under Section 7.6.1 7.6(a) as of the Distribution Date, based on his years of service through the Distribution Date and his then Specified Highest Annual Salary. (ii) Within five (5) business days after the Executive’s 's actual Termination Date, the Company shall pay to the Executive an amount equal to (x) the Retirement Compensation payable to the Executive as determined in Section 7.6.1 7.6(a)(i) hereof less (y) the sum of (1) the amount of Retirement Compensation previously distributed to the Executive pursuant to Section 7.6.2(i7.6(b)(i) and 7.4(a)(ii) hereof, and (2) the amounts previously distributed pursuant to Section 7.6.3(i7.6(c)(i) or 7.6.3(ii7.6(c)(ii).

Appears in 1 contract

Samples: Employment Agreement (Be Aerospace Inc)

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Payment of Retirement Compensation. (i) Within five business days after the date on which the BE Aerospace, Inc. Executive Compensation Trust II dated April 21, 1999, as amended, is terminated (the “Distribution Date”), the Company will distribute the amount of Retirement Compensation that would have been payable to Executive under Section 7.6.1 as of the Distribution Date, based on his years of service through the Distribution Date and his then Specified Annual Salary. (ii) Within five (5) business days after Executive’s 's actual Termination Date, the Company shall pay to Executive an amount equal to (x) the Retirement Compensation payable to Executive as determined in Section 7.6.1 hereof less (y) the sum of (1) the amount of Retirement Compensation previously distributed to Executive pursuant to Section 7.6.2(i) hereof, and (2) the amounts previously distributed pursuant to Section 7.6.3(i) or 7.6.3(ii).

Appears in 1 contract

Samples: Employment Agreement (Be Aerospace Inc)

Payment of Retirement Compensation. (i) Within five business days after the date on which the BE Aerospace, Inc. Executive Compensation Trust II dated April 21, 1999, as amended, is terminated (the "Distribution Date"), the Company will distribute the amount of Retirement Compensation that would have been payable to Executive under Section 7.6.1 as of the Distribution Date, based on his years of service through the Distribution Date and his then Specified Annual Salary. (ii) Within five (5) business days after Executive’s 's actual Termination Date, the Company shall pay to Executive an amount equal to (x) the Retirement Compensation payable to Executive as determined in Section 7.6.1 hereof less (y) the sum of (1) the amount of Retirement Compensation previously distributed to Executive pursuant to Section 7.6.2(i) hereof, and (2) the amounts previously distributed pursuant to Section 7.6.3(i) or 7.6.3(ii).

Appears in 1 contract

Samples: Employment Agreement (Be Aerospace Inc)

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