SERP. Executive is a participant in the BB&T Corporation Non-Qualified Defined Benefit Plan (the “SERP”). The SERP was formerly known as the Branch Banking and Trust Company Supplemental Executive Retirement Plan. The SERP is a non-qualified, unfunded supplemental retirement plan which provides benefits to or on behalf of selected key management employees. The benefits provided under the SERP supplement the retirement and survivor benefits payable from the Pension Plan. Except in the event the employment of Executive is terminated by the Employer or BB&T for Just Cause and except in the event Executive terminates Executive’s employment for any reason other than Good Reason and such termination does not occur within twelve (12) months after a Change of Control (or, if later, within ninety (90) days after a MOE Revocation), the following special provisions shall apply for purposes of this Agreement:
(i) The provisions of the SERP shall be and hereby are incorporated in this Agreement. The SERP, as applied to Executive, may not be terminated, modified or amended without the express written consent of Executive. Thus, any amendment or modification to the SERP or the termination of the SERP shall be ineffective as to Executive unless Executive consents in writing to such termination, modification or amendment. The Supplemental Pension Benefit (as defined in the SERP) of Executive shall not be adversely affected because of any modification, amendment or termination of the SERP. In the event of any conflict between the terms of this Section 1.7.7(i) and the SERP, the provisions of this Section 1.7.7
(i) shall prevail. Executive hereby agrees and consents to Employer’s amendment of the SERP to comply with Section 409A.
SERP. As of the Covered Termination Date, a fully vested and non-forfeitable interest in Executive’s account balance in SERP, payable in accordance with the terms of SERP.
SERP. The Executive shall be entitled to participate in the Company's Supplemental Executive Retirement Plan.
SERP. The Executive shall continue to participate in the COMSAT Insurance and Retirement Plan for Executives (the "SERP"). Any future amendments or changes to the SERP which provide for a reduction, deferral or elimination of benefits payable to participants in the SERP shall expressly not apply to the Executive unless the Executive consents otherwise.
SERP. At the Commencement Date, Employee shall participate in the ---- Choice Hotels International, Inc. Supplemental Executive Retirement Plan ("SERP").
SERP. Executive may be entitled to participate in the MEDTOX Supplemental Executive Retirement Plan (SERP), as determined by the Compensation Committee of the Board of Directors. The Plan is incorporated herein by reference.
SERP. Invacare shall pay to the Executive, within 60 days after the Termination Date, a lump sum amount equal to the sum of the contributions and credited interest which were scheduled to be added to Executive’s account under the Invacare Cash Balance Supplemental Executive Retirement Plan (or related successor plan or plans), during the three year period immediately following the Termination Date (including prorated amounts, as applicable), if Executive had continued in the employ of Invacare through the third anniversary of the Termination Date, all as reflected on the attachment to the participation agreement executed by the Executive in connection with such plan
SERP. Wesbanco and the Employee mutually agree that the payment of the Employee’s benefits under the Amended and Restated Supplemental Executive Retirement Plan among ESB Financial and ESB dated November 20, 2007 (the “SERP”) will be triggered by his separation from service on the Effective Date of the Merger. Wesbanco will pay to the Employee the benefits to which the Employee is entitled under the terms of the SERP in accordance with the provisions thereof.
SERP. Executive recognizes and agrees that pursuant to the Nucor Corporation Supplemental Retirement Plan for Executive Officers (the “SERP”), Executive shall receive $4,595,136.00 (the “SERP Payment”), representing the balance of his Supplemental Retirement Account (as defined in the SERP), contingent upon his execution of this Agreement and strict compliance with the Restrictive Covenants (as hereinafter defined). The SERP Payment is payable in 24 monthly installments of $191,464.00 (the “Monthly SERP Payments”). Subject to the provisions of Paragraph 2(c) of this Agreement, the payments of the Monthly SERP Payments shall be made each month following the Effective Date. In the event Executive dies prior to the Effective Date or during the first 24 months following the Effective Date, and provided that Executive was not in breach of his obligations under this Agreement or the Restrictive Covenants at the time of his death, the remaining Monthly SERP Payments that would have been paid to Executive pursuant to the SERP shall be paid to Executive’s estate in a single sum payment as soon as practicable (but in any event within 60 days) following Executive’s death. All Monthly SERP Payments shall be subject to regular and customary withholding.
SERP. If a termination of the Executive’s employment is deemed a Retirement for purposes of this Agreement, such termination shall constitute one of the following events, as appropriate, under the Vector Group Ltd. Supplemental Retirement Plan (as in effect on the date hereof or as amended or restated if more favorable to the Executive) (the “SERP”): in the event of a termination under Section 6(b) hereof, the death of the Executive under Section 4.3 of the SERP; under Section 6(c) hereof, the Disability of the Executive under Section 4.2 of the SERP; and under Sections 6(a), 6(e) (to the extent Section 6(a) shall apply), Section 6(f)(z) and 6(g) hereof, the termination of the Executive without cause under Section 4.4 of the SERP. In the event the Executive’s employment is terminated under Section 6(d), the Executive shall not be entitled to any benefit under the SERP if the facts and circumstances upon which such termination is based would constitute “cause” under Section 4.4 of the SERP. If such facts and circumstances would not constitute “cause” under Section 4.4 of the SERP, such termination of the Executive’s employment under Section 6(d) will be treated as a termination of the Executive without cause under Section 4.4 of the SERP. Additionally, with respect to a termination of employment that is deemed a Retirement hereunder, both the remaining term of the Employment Period, if any, and the Severance Period shall be included in calculating the full Years of Participation (as defined under the SERP) for the purposes of determining the Participation Ratio in Section 1.18 of the SERP, provided that in the case of a termination pursuant to Section 6(f)(z) or Section 6(g) the Severance Period shall be deemed to be 36 months; provided, further, for the avoidance of doubt any Severance Period shall not be taken into account for the purposes of determining when benefits are payable under the SERP.
