Common use of Retirement Plan Payment Clause in Contracts

Retirement Plan Payment. BNY-Mellon will pay to you the lump sum actuarial equivalent (utilizing actuarial assumptions no less favorable to you than those in effect under the Company’s Retirement Plan on the date of this Agreement) of the excess of the (A) benefits under the Company’s Retirement Plan and Excess Benefit Plan and any other defined benefit retirement plans of the Company and BNY-Mellon (excluding, however, any nonqualified supplemental executive retirement plan (“SERP”) in which you may have rights) (collectively, the “Defined Benefit Plans”) which you would receive if your employment continued for 2 years after your Termination Date, assuming for this purpose that (x) your accrued benefits under the Defined Benefit Plans were fully vested, (y) in each of the 2 years you received salary at the annual rate in effect immediately before your Termination Date and bonus compensation equal to the Bonus Amount and (z) there was no reduction or offset under the Defined Benefit Plans for the actuarial value of your account under the Company’s Employee Stock Ownership Plan (the “ESOP”), over (B) the vested accrued benefits payable under the Defined Benefit Plans as of your Termination Date if there was no reduction or offset thereunder for the actuarial value of your ESOP account. For the avoidance of doubt, the payments under this Section 3(a)(v) are in addition to any rights to payment you may have with respect to vested accrued benefits under the Defined Benefit Plans as of your Termination Date.

Retirement Plan Payment. BNY-Mellon will pay to you the lump sum actuarial equivalent (utilizing actuarial assumptions no less favorable to you than those in effect under the Company’s Retirement Plan on the date of this Agreement) of the excess of the (A) benefits under the Company’s Retirement Plan and Excess Benefit Plan and any other defined benefit retirement plans of the Company and BNY-Mellon (excluding, however, any nonqualified supplemental executive retirement plan (“SERP”) in which you may have rights) (collectively, the “Defined Benefit Plans”) which you would receive if your employment continued for 2 3 years after your Termination Date, assuming for this purpose that (x) your accrued benefits under the Defined Benefit Plans were fully vested, (y) in each of the 2 3 years you received salary at the annual rate in effect immediately before your Termination Date and bonus compensation equal to the Bonus Amount and (z) there was no reduction or offset under the Defined Benefit Plans for the actuarial value of your account under the Company’s Employee Stock Ownership Plan (the “ESOP”), over (B) the vested accrued benefits payable under the Defined Benefit Plans as of your Termination Date if there was no reduction or offset thereunder for the actuarial value of your ESOP account. For the avoidance of doubt, the payments under this Section 3(a)(v) are in addition to any rights to payment you may have with respect to vested accrued benefits under the Defined Benefit Plans as of your Termination Date.

Retirement Plan Payment. BNY-Mellon will pay to you the lump sum actuarial equivalent (utilizing actuarial assumptions no less favorable to you than those in effect under the Company’s Retirement Plan on the date of this Agreement) of the excess of the (A) benefits under the Company’s Retirement Plan and Excess Benefit Plan and any other defined benefit retirement plans of the Company and BNY-Mellon (excluding, however, including any nonqualified supplemental executive retirement plan (“SERP”) in which you may have rights) (collectively, the “Defined Benefit Plans”) which you would receive if your employment continued for 2 years after your Termination Date, assuming for this purpose that (x) your accrued benefits under the Defined Benefit Plans were fully vestedvested (including under the SERP, regardless of whether you have attained age 60), (y) in each of the 2 years you received salary at the annual rate in effect immediately before your Termination Date and bonus compensation equal to the Bonus Amount and (z) there was no reduction or offset under the Defined Benefit Plans for the actuarial value of your account under the Company’s Employee Stock Ownership Plan (the “ESOP”), over (B) the vested accrued benefits payable under the Defined Benefit Plans as of your Termination Date if there was no reduction or offset thereunder for the actuarial value of your ESOP account. For the avoidance of doubt, the payments under this Section 3(a)(v) are in addition to any rights to payment you may have with respect to vested accrued benefits under the Defined Benefit Plans as of your Termination Date.