Restriction of Benefits Upon Early Termination of the Plan.... Sample Clauses

Restriction of Benefits Upon Early Termination of the Plan..... ..58 ================================================================================ 187 ii XXXXXX FEDERAL SAVINGS BANK Foreword -------------------------------------------------------------------------------- XXXXXX FEDERAL SAVINGS BANK RETIREMENT INCOME PLAN FOREWORD Effective November 1, 1953, the Employer (or its predecessor) established the Prior Plan ("Prior Plan") for the benefit of its eligible employees. Effective January 1, 1976, the Prior Plan was amended and restated in its entirety and became known as Xxxxxx Federal Savings Bank Retirement Income Plan. The Prior Plan was amended from time to time to comply with legislative requirements and to reflect changing Plan provisions. Effective January 1, 1989, the Prior Plan was further amended and restated in its entirety to incorporate the changes required by the Tax Reform Act of 1986 and subsequent legislation and regulations, and also incorporated certain amendments to the Prior Plan as in effect on December 31, 1988. Effective as of January 1, 1997, the Employer amended and restated the Prior Plan. The Plan, as restated (hereinafter referred to as the "Plan"), complies with all applicable legislation and regulations thereunder issued to date addressing tax-qualified plans, including pension provisions under the Uniformed Services Employment and Reemployment Rights Act of 1994, the Retirement Protection Act of 1994, the Small Business Job Protection Act of 1996, the Taxpayer Relief Act of 1997, the Restructuring and Reform Act of 1998 and the Community Renewal Tax Relief Act of 2000. Subject to any amendments that may subsequently be adopted by the Employer pursuant to Section 14.1, the provisions set forth in this Plan shall apply to any Employee who is in the employment of the Employer on or after January 1, 1997. Except to the extent specifically required to the contrary under the terms of this Plan, for terminations of employment prior to January 1, 1997, the rights and benefits of a former participant shall be determined in accordance with the provisions of the Prior Plan as in effect on the date of the former participant's termination of employment. The Prior Plan is amended and restated in its entirety. The Plan shall contain the terms and conditions set forth herein. Pursuant to resolutions adopted by the Employer, the Plan shall be frozen effective December 31, 2000 (the "Plan Freeze Date"). Effective as of the Plan Freeze Date, (A) no Employee may commence or recommence participation i...
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Restriction of Benefits Upon Early Termination of the Plan..... SECTION XV RESTRICTION OF BENEFITS UPON EARLY TERMINATION OF THE PLAN
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Restriction of Benefits Upon Early Termination of the Plan..... This Section XV is included in the Plan to conform to the requirements of Income Tax Regulations Section 1.401(a)(4).
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Restriction of Benefits Upon Early Termination of the Plan..... (c) the value of the benefit payable to the Restricted Employee is less than or equal to three thousand five hundred dollars ($3,500) (and effective January 1, 1998, five thousand dollars ($5,000). For purposes of this paragraph (4), the value of Plan assets and the value of current liabilities must be determined as of the same date.
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Related to Restriction of Benefits Upon Early Termination of the Plan....

  • Certain Benefits Upon Termination Executive’s employment shall be terminated upon the earlier of (i) the voluntary resignation of Executive with or without Good Reason; (ii) Executive’s death or permanent disability; or (iii) upon the termination of Executive’s employment by LTC for any reason at any time. In the event of such termination, the below provisions of this Section 6 shall apply, and in the event of a Change in Control, whether or not Executive’s employment is terminated thereby, Section 6(b) shall apply.

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • Benefits Upon Termination If the Executive’s employment by the Company is terminated during the Period of Employment for any reason by the Company or by the Executive, or upon or following the expiration of the Period of Employment (in any case, the date that the Executive’s employment by the Company terminates is referred to as the “Severance Date”), the Company shall have no further obligation to make or provide to the Executive, and the Executive shall have no further right to receive or obtain from the Company, any payments or benefits except as follows:

  • Early Termination of Agreement This Agreement may be terminated prior to the Ending Date upon any one of the following events:

  • Early Termination of Services Termination at any time upon 90 days’ prior written notice. Notwithstanding the second sentence of Section 4(b) of the Agreement, individual services within this schedule may be terminated without all other Services being simultaneously terminated. Upon the early termination of any Service(s) in this Schedule, Early Termination Fees of 75% of monthly costs shall be charged each month for 3 months.

  • Termination of Plan The Sponsor may terminate the Plan and the Trust with respect to all Employers by executing and delivering to the Committee and the Trustee, a notice of termination, specifying the date of termination.

  • Limitation of Benefits (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any benefit, payment or distribution by the Company to or for the benefit of the Executive (whether payable or distributable pursuant to the terms of this Agreement or otherwise) (a "Payment") would, if paid, be subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then the Payment shall be reduced to the extent necessary to avoid the imposition of the Excise Tax. The Executive may select the Payments to be limited or reduced.

  • Payments Upon Termination of Employment (a) If Executive’s employment with the Company is terminated by reason of:

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

  • PAYMENTS AND BENEFITS UPON TERMINATION (a) If within eighteen (18) months after a Change in Control, the Company terminates Employee's employment other than by reason of Employee's death, Disability, Retirement or for Cause, or if Employee terminates Employee's employment for Good Reason, then the Employee shall be entitled to the following payments and benefits:

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