SERRP Sample Clauses

SERRP. The Flex Assignment Date has been determined to constitute a Separation from Service within the meaning of the CH2M HILL Supplemental Executive Retirement and Retention Plan (“SERRP”) and Section 409A of the Internal Revenue Code. Xxx. Xxxx will be eligible to receive the vested balance of her SERRP benefit payable to her based on her distribution election that has been made and is on file per the SERRP. The amount is estimated to be approximately $378,764.00. In addition to her vested balance, the Compensation Committee of the CH2M HILL Board of Directors has approved the full vesting and payment of the unvested balance under the SERRP. The unvested balance is made up of the account balance as of Friday March 2, 2012 which is TUOR WAIVER AND GENERAL RELEASE AGREEMENT 02/2012 $1,172,225.00 plus the planned contributions to be made to Xxx. Xxxx’x SERRP through calendar year 2012 which is equal to $342.588 for a total estimated unvested balance of $1,514,813.00. The payments under the SERRP outlined above will be made in accordance with the distribution election on file for Xxx. Xxxx and will be made no sooner than her retirement date under the SERRP which in no event will be sooner than 6 months and one day after the end of the Retirement Transition Period. The Compensation Committee of the CH2M HILL Board of Directors also approved an additional retirement top off benefit estimated to be $928,515.00. This cash payment will be made to Xxx. Xxxx in a lump sum less applicable taxes on or about April 25, 2013 or Xxx. Xxxx’x 65th birthday.
Sample 1
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SERRP. The balance of Xx. XxXxxxxx’x vested SERRP amount is $9,514,447.00 as of May 14, 2014. The payments under the SERRP will be made in accordance with the distribution election on file for Xx. XxXxxxxx and the applicable plan documents, treating the Flex Assignment Date as his separation from service. The Compensation Committee has also approved an additional retirement top off benefit estimated to be $802,796.00. This cash payment will be made to Xx. XxXxxxxx in a lump sum (less applicable withholdings) within 60 days following the end of the Retirement Transition Period.
Sample 1
SERRP. The balance of Xx. Xxxxxxxxx’x vested SERRP amount is $36,758.00 and unvested balance is $292,890.00 as of May 11, 2015. Because Xx. Xxxxxxxxx will remain in an employment status under this Agreement during the Retirement Transition Period until the Retirement Date, Xx. Xxxxxxxxx’x unvested balance will become 100% vested on his 65th birthday, February 9, 2016. The payments under the SERRP will be made in accordance with the distribution election on file for Xx. Xxxxxxxxx and the applicable plan documents, treating the Retirement Date as his separation from service. The payment will be made no sooner than 6 months and one day from Xx. Xxxxxxxxx’x Retirement Date. SZOMJASSY — RETIREMENT TRANSITION, WAIVER AND GENERAL RELEASE AGREEMENT
Sample 1
SERRP. If not yet paid, a lump sum distribution of the Executive's contribution accounts balance under the SERRP. The Executive's contribution account balances shall become fully vested upon the Date of Termination as set forth in the SERRP, to the extent Executive is a participant in the SERRP.
Sample 1

Related to SERRP

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Benefits; Vacation Employee shall be eligible to receive all benefits as are available to similarly situated employees of Employer generally, and any other benefits that Employer may, in its sole discretion, elect to grant to Employee from time to time. In addition, Employee shall be entitled to four (4) weeks paid vacation per year, which shall be pro-rated for the first partial year of employment and shall accrue in accordance with Employer’s policies applicable to similarly situated employees of Employer.

  • Retiree Medical Benefits If Executive is or would become fifty-five (55) or older and Executive's age and service equal sixty-five (65) and Executive has at least five (5) years of service with the Company within two (2) years of Change in Control, Executive is eligible for retiree medical benefits (as such are determined immediately prior to Change in Control). Executive is eligible to commence receiving such retiree medical benefits based on the terms and conditions of the applicable plans in effect immediately prior to the Change in Control.

  • SUPPLEMENTAL BENEFITS The Reinsurer will receive a proportionate share of any premiums for additional benefits as shown in Schedule I, as well as for any extra premiums the Ceding Company may collect for the coverage of special risks (traveling, climate, occupation, etc.). This share will be based on the ratio between the amount at risk and the total initial benefits insured and will remain constant throughout the entire period of premium payment.

  • Standard Company Benefits Executive shall be entitled to participate in all employee benefit programs for which Executive is eligible under the terms and conditions of the benefit plans that may be in effect from time to time and provided by the Company to its employees. The Company reserves the right to cancel or change the benefit plans or programs it offers to its employees at any time.

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows:

  • Employee Participants 2.01 ELIGIBILITY.

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • Executive Compensation Until such time as the Investor ceases to own any debt or equity securities of the Company acquired pursuant to this Agreement or the Warrant, the Company shall take all necessary action to ensure that its Benefit Plans with respect to its Senior Executive Officers comply in all respects with Section 111(b) of the EESA as implemented by any guidance or regulation thereunder that has been issued and is in effect as of the Closing Date, and shall not adopt any new Benefit Plan with respect to its Senior Executive Officers that does not comply therewith. “Senior Executive Officers” means the Company’s “senior executive officers” as defined in subsection 111(b)(3) of the EESA and regulations issued thereunder, including the rules set forth in 31 C.F.R. Part 30.

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