Common use of SERP Rights Clause in Contracts

SERP Rights. As of the Termination Date, Executive will become fully vested in the Makeup Contributions Account in the Supplemental Employee Retirement Plan and, without regard to Executive's payment elections previously made under that plan, will receive all benefit amounts under that plan in a single, lump-sum cash payment as soon as practicable following the Termination Date.

Appears in 5 contracts

Samples: Executive Employment Agreement (Kimball International Inc), Employment Agreement (Kimball Electronics, Inc.), Employment Agreement (Kimball Electronics, Inc.)

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SERP Rights. As of the Termination Dateeffective date of a Change in Control, Executive will become fully vested in the Makeup Contributions Account in the Supplemental Employee Retirement Plan and, without regard to Executive's payment elections previously made under that plan, will receive all benefit amounts under that plan in a single, lump-sum cash payment as soon as practicable following the Termination DateChange in Control.

Appears in 4 contracts

Samples: Employment Agreement (Kimball Electronics, Inc.), Employment Agreement (Kimball Electronics, Inc.), Employment Agreement (Kimball International Inc)

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SERP Rights. As of the Termination Date, Executive will become fully vested in the Makeup Contributions Account in the Supplemental Employee Retirement Plan and, without regard to Executive's ’s payment elections previously made under that plan, will receive all benefit amounts under that plan in a single, lump-sum cash payment as soon as practicable following the Termination Date.

Appears in 3 contracts

Samples: Executive Employment Agreement (Kimball International Inc), Change in Control Agreement (Kimball International Inc), Change in Control Agreement (Kimball International Inc)

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