Common use of Pension and Profit Sharing Clause in Contracts

Pension and Profit Sharing. During the Term, or if Executive’s employment is terminated sooner pursuant to Section 4, until such termination, Executive will continue to accrue additional benefits under the Company’s qualified and non-qualified pension and profit-sharing plans. Payments under the Company’s non-qualified pension and profit-sharing plans will be made in accordance with the terms of the relevant plan upon separation from service with the Company.

Appears in 3 contracts

Samples: Non Competition and Non Solicitation Agreement (Schlumberger Limited/Nv), Employment, Non Competition and Non Solicitation Agreement (Schlumberger Limited/Nv), Employment, Non Competition and Non Solicitation Agreement (Schlumberger Limited/Nv)

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Pension and Profit Sharing. During the Term, or if Executive’s 's -------------------------- employment is terminated sooner pursuant to Section 4, until such termination, Executive will shall continue to accrue additional benefits under the Company’s 's qualified and non-qualified pension and profit-sharing plans. Payments plans based on his base salary in effect under the Company’s non-qualified pension and profit-sharing plans will be made in accordance with the terms of the relevant plan upon separation from service with the Companythis Agreement.

Appears in 1 contract

Samples: Employment Agreement (Schlumberger LTD /Ny/)

Pension and Profit Sharing. During the Term, or if Executive’s employment is terminated sooner pursuant to Section 4, until such termination, Executive will continue to accrue receive additional benefits under the Company’s qualified and non-qualified pension and profit-sharing plans. Payments under the Company’s non-qualified pension and profit-sharing plans will be made in a manner described in Exhibit B to this Agreement and in accordance with the terms of the relevant plan upon separation from service with the Company.

Appears in 1 contract

Samples: Non Competition and Non Solicitation Agreement (Schlumberger Limited/Nv)

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Pension and Profit Sharing. During the Term, or if Executive’s employment is terminated sooner pursuant to Section 4, until such termination, Executive will shall continue to accrue additional benefits under the Company’s qualified and non-qualified pension and profit-profit sharing plans based on an annual base salary of $650,000. Executive will also accrue benefits under the same plans, based on the Incentive payment to be made to him on February 2010, as per section 3(d) below. Payments under the Company’s non-qualified pension and profit-profit sharing plans will be made in accordance with the terms of the relevant plan upon separation from service with the Company.

Appears in 1 contract

Samples: Employment Agreement (Schlumberger LTD /Nv/)

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