SERP Enhancement. As additional consideration for your commitments as outlined above, your minimum benefit under the AmSouth Bancorporation Supplemental Retirement Plan shall equal the Enhanced Benefit you would have been eligible to receive under Section 3.01 of the Plan if you had terminated employment under the Prior Agreement on November 4, 2008. In addition, your interest in the Enhanced Benefit will be fully vested regardless of the age at which you retire.
SERP Enhancement. At the time of the Executive’s termination of employment with NMG and all of its Affiliates, the Executive’s years of service for purposes of calculating his benefit under The Neiman Marcus Group, Inc. Supplemental Executive Retirement Plan (the “SERP”) shall be determined by multiplying his actual service for purposes of the SERP by 2, subject to the 25-year maximum set forth in the SERP, and by then providing the Executive with an additional credit for each year of service by the Executive to NMG following his attainment of age sixty-five (65) (disregarding the 25-year maximum set forth in the SERP). During the Employment Term, the SERP shall not be terminated or amended in any way that adversely affects the Executive without the consent of the Executive.
SERP Enhancement. At the time of the Executive’s termination of employment with NMG and all of its Affiliates, the Executive’s years of service for purposes of calculating his benefit under The Neiman Marcus Group, Inc. Supplemental Executive Retirement Plan (or any successor plan) (the “SERP”) shall be determined by multiplying his actual service for purposes of the SERP by 2, subject to the 25-year maximum set forth in the SERP.
SERP Enhancement. Provided that (i) Executive is a participant in the Central Vermont Public Service Corporation Officers’ Supplemental Retirement and Deferred Compensation Plan, as amended and restated effective January 1, 2008 (the “SERP’) and otherwise entitled to a benefit thereunder, and (ii) Executive fulfills his or her obligations and responsibilities and satisfies the conditions set forth in Sections 9 and 10 of this Agreement, Executive benefit under the SERP shall be recalculated to be the greater of the amount described in paragraph (x) or (y) below: (x) The benefit provided for in Section 3.1(a) of the SERP with such benefit being determined for purposes of Section 3.1(a)(i) of the SERP as if the Participant had earned [2 to 3] additional years of benefit accruals under the Pension Plan of Central Vermont Public Service Corporation and Its Subsidiaries, as in effect from time to time (the “Basic Plan”) and assuming Executive’s compensation under the Basic Plan for such [2 to 3]-year period is equal to Executive’s compensation for the Plan Year immediately preceding the Plan Year in which the Change in Control occurs. (y) In the case of an Executive who was a participant of the SERP on December 31, 1997, and was age 50 or older upon the Change in Control, the benefit described in Section 3.1(b) of the SERP, without regard to the age and service requirements of Section III(a) of Appendix A thereof. (H)
SERP Enhancement. In recognition of the Company’s agreement in 2009 to provide you with two (2) additional years of service credit under the SERP, you will also receive an additional lump sum cash payment equal to the difference between the actual benefit you are eligible to receive under the terms of the SERP plan, and a hypothetical benefit calculated as though you had an additional two (2) years of service credit on your Termination Date. Because this payment is not provided for under the terms of the SERP plan, it is not eligible for deferral to your DCP account, and will be made to you in a lump sum, less applicable withholdings, within 15 days of your Release Date; provided, however, if the Company should determine that this payment would constitute deferred compensation under Code §409A, then this payment will be made no earlier than the first day of the seventh calendar month after the calendar month in which your Date of Termination occurs, or the earliest time permitted that will not trigger a tax or penalty under Code §409A. Employee Initials: WHS
SERP Enhancement. In addition to the payments and benefits set forth in Section 5(b) above, the Company shall pay, or cause to be paid, to Executive an amount equal to the excess, if any, of (A) the actuarial equivalent of the benefit under the Company’s Supplemental Executive Retirement Plan that Executive would receive under the terms of that plan as in effect on the Change in Control if Executive’s age (but not his years of service) were increased by the number of years equal to his Severance Multiple, over (B) the actuarial equivalent of Executive’s actual benefit under the Supplemental Executive Retirement Plan as of the Date of Termination (the “SERP Enhancement”), which amount shall be payable within 20 calendar days after the Release described in Section 6 becomes effective and irrevocable in accordance with its terms. In calculating the SERP Enhancement, the Company shall use actuarial assumptions no less favorable to the Covered Executive than the most favorable of those in effect under the Company’s qualified defined benefit plan applicable to Executive at any time from the day immediately prior to the Change in Control.
SERP Enhancement. During the Employment Term, the Executive shall continue to accrue benefits under The Neiman Marcus Group, Inc. Supplemental Executive Retirement Plan (the "SERP"), provided that (i) the SERP shall not be amended or terminated in any way that adversely affects the Executive, and (ii) after the Executive has reached the 25-year maximum set forth in the SERP, she shall be entitled to an additional one year of credit for each full year of service thereafter. In addition, if (i) during the Employment Term, the Executive's employment is terminated by NMG for any reason other than death, Disability, or Cause, (ii)during the Employment Term, the Executive's employment is terminated by the Executive for Good Reason, or (iii) the Executive's employment terminates upon expiration of the Employment Term following the provision by NMG of a Notice of Non-Renewal, and, in any such case, on the date of such termination the Executive has not yet reached age 65, the Executive's SERP benefit shall not be reduced according to the terms of the SERP solely by reason of the Executive's failure to reach age 65 as of the Employment Termination Date. (d)
SERP Enhancement. The Company shall pay, or cause to be paid, to Executive an amount equal to the excess, if any, of (A) the actuarial equivalent of the benefit under the Company’s Supplemental Executive Retirement Plan that Executive would receive under the terms of that plan as in effect on the Closing Date if Executive’s age (but not his years of service) were increased by the number of years equal to his Severance Multiple, over (B) the actuarial equivalent of Executive’s actual benefit under the Supplemental Executive Retirement Plan as of the Date of Termination, which amount shall be payable within 20 calendar days after the Release described in Section 6 becomes effective and irrevocable in accordance with its terms.
