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: Employment Agreement (Schlumberger Limited/Nv), Employment Agreement (Schlumberger Limited/Nv), Employment 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/)

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 shall be eligible to accrue additional benefits under the Company’s qualified and non-qualified pension plan and profit-sharing plans. Payments under the Company’s non-qualified pension and profit-sharing plans will be made in accordance with the terms plan based on an annual base salary of the relevant plan upon separation from service with the CompanyUS$ 1,300,000.

Appears in 1 contract

Samples: Employment Agreement (Schlumberger LTD /Nv/)

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 pension plan and non-qualified pension and profit-sharing plansplan based on an annual base salary of US$ 600,000.00. Payments Executive will also accrue benefits, under the Company’s non-qualified pension and profit-sharing plans will same plans, on the Incentive payment to be made to him in accordance with the terms of the relevant plan upon separation from service with the CompanyJanuary 2008, as per section 3(d)(i) below.

Appears in 1 contract

Samples: Employment Agreement (Schlumberger LTD /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 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: Employment Agreement (Schlumberger Limited/Nv)

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 $600,000. Executive will also accrue benefits under the same plans, based on the Incentive payment to be made to her 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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