Special Retirement Payment. Effective as of the Closing Date, Kaiser shall amend its Bargaining Unit Pension Plan to provide that each Bargaining Unit Kaiser Employee who, as of the Closing Date, is not eligible to receive the Special Retirement Payment and (i) subsequently qualifies for a Special Retirement Payment from the New Bargaining Unit Pension Plan upon retirement from the Company, and (ii) also qualifies for a pension from the Bargaining Unit Pension Plan, shall be eligible to receive from the Bargaining Unit Pension Plan upon his retirement from the Company the first three monthly pension payments paid in a lump sum.

Special Retirement Payment. In recognition of the Executive's contributions to the success of the Company, no later than five business days following the Chairman Termination Date, the Company shall pay the Executive (or if applicable, his estate or legal representative) a special retirement payment of $2,750,000, in a lump sum in cash.

Special Retirement Payment. TRICON shall make a special $1,000,000 retirement payment to you at the conclusion of your three-year employment term hereunder or such shorter term as may be determined by the Committee pursuant to Paragraph 5. In the event of death or total disability (as determined by the Committee), you, your designated beneficiary or estate shall receive a retirement payment which is in proportion to your service during the term of this Agreement.

Special Retirement Payment. The Executive shall be entitled to receive a special retirement payment equal to three times his base salary and annual incentive bonus (based on the highest annual incentive bonus paid to the Executive during the three fiscal years preceding the Effective Date) which equals $7,590,000 (the "SPECIAL RETIREMENT PAYMENT"). One-third (or $2,504,700) of the Special Retirement Payment shall be paid to the Executive in a lump sum payment on the eighth (8th) day following the Retirement Date. The remaining two-thirds (or $5,085,300) of the Special Retirement Payment shall be paid to the Executive ratably over twenty-four (24) months, as of the first of each month, the first such month being January 2005. The payment of the Special Retirement Payment is conditioned upon the Executive (i) signing and delivering to the Company on the Retirement Date a release in the form of Exhibit A hereto (the "EXECUTIVE GENERAL RELEASE") and (ii) not having revoked the Executive General Release. Accordingly, on the Retirement Date, the Executive shall execute and deliver to the Company the Executive General Release.

Special Retirement Payment. In an effort to compensate Executive with respect to retirement benefits he forewent by accepting employment with the Company and its Affiliates, Executive will be entitled to a lump sum cash payment (the “Retirement Payment”) on May 9, 2015 (the “Retirement Payment Date”) in an amount equal to $2,000,000 plus interest thereon compounded monthly from January 1, 2013 to the Retirement Payment Date at the prime rate in effect on such date plus one percentage point. Notwithstanding the foregoing, Executive will not be entitled to the Retirement Payment if, and only if, any of the following are true: (i) the present value as of the Original Effective Date of the sum of all Option Proceeds, as defined below, received by Executive prior to the Retirement Payment Date exceeds $9,000,000, (ii) prior to the end of the Initial Term, Executive voluntarily resigns effective prior to the end of the Initial Term from EFH Co. (or an Affiliate) without Good Reason, or (iii) prior to the Retirement Payment Date, Executive’s employment is terminated by EFH Co. (or an Affiliate) for Cause. For purposes of the foregoing, “Option Proceeds” shall equal the sum of all cash proceeds received by Executive (prior to the reduction for any withholding taxes) in respect of the stock options granted to Executive on May 9, 2008 (the “Option Award”) or the underlying shares of common stock of the Company (“Common Stock”) (including cash dividends or dividend equivalents) less any exercise price paid by Executive, provided that in calculating the Option Proceeds, if the shares of Common Stock subject to the Option Award (or shares of an acquiring entity into which such shares are converted) become publicly traded, Executive will be deemed to have exercised the Option Award and immediately sold the shares received upon such exercise for cash as and when the Option Award first becomes exercisable and underlying shares can be resold without restriction upon or following the date the shares become publicly traded. If any payment pursuant to this Section 11(b) results in the imposition of any interest or additional taxes upon Executive under Section 409A of the Code, whether before or after termination of Executive’s employment, Executive shall be entitled to an extra payment such that the amount retained by Executive net of all applicable taxes (including the interest and additional taxes imposed under Section 409A(a)(1)(B) of the Code) is equal to the amount Executive would have retained net...

Special Retirement Payment. A payment of $250,000 shall be allocated as a special retirement payment. This payment shall be made on August 31, 1998. This payment shall be subject to withholding and deduction for payroll taxes and other deductions as are required by federal and state law, and as set forth in this Agreement.

Related to Special Retirement Payment

Retirement Pay Any teacher with ten (10) years consecutive teaching experience in the Park Hill School District immediately prior to retirement from PSRS without an age reduction for early retirement, shall receive upon retirement from the Park Hill School District a terminal amount based upon the following formula: (Notation, the teacher must make application to PSRS for retirement and begin drawing from PSRS on the first available month following retirement). Years of service to the Park Hill School District to be divided by ten (10) and multiplied by one-ninth (1/9) of the last completed contract. Retirement notification after December 15 for the current academic year will result in a reduction of $1,000.00 from the total under Article 36. In the event of a sudden severe illness of the teacher, teacher’s legally recognized spouse, and/or child, the transfer of a legally recognized spouse, or being called into active military duty may be cause for the District not to impose the late notification reduction of $1,000.00. A teacher who otherwise qualifies for payment under Article 36 and dies while currently classified as an active employee will receive such payment.
Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.
Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.
Pre-Retirement Death Benefit (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).
Deferred Retirement a. An employee who is eligible for paid retirement at the time he or she separates from County service, but elects deferred retirement, may defer participation in the Grant until such time as he or she becomes an active retiree. b. An otherwise eligible employee who is not eligible for paid retirement at the time he or she separates from County service but is eligible for and elects deferred retirement shall not become eligible for participation in the Grant.
Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].
Pre-Retirement Leave An Employee scheduled to retire and to receive a superannuation allowance under the applicable pension Acts or who has reached the mandatory retiring age, shall be entitled to: (a) A special paid leave for a period equivalent to fifty percent (50%) of his/her accumulated sick leave credit, to be taken immediately prior to retirement; or (b) A special cash payment of an amount equivalent to the cash value of fifty percent (50%) of his/her accumulated sick leave credit, to be paid immediately prior to retirement and based upon his/her current rate of pay.
Severance and Retirement Options (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars. (ii) Where an employee resigns later than 30 days after receiving notice pursuant to article 14.02(a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ($1,250) dollars. (b) Prior to issuing notice of layoff pursuant to article 14.02(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 14.02(a)(ii). Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks’ pay for each year of service with the Hospital to a maximum of fifty-two (52) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to $1,000.00 for every year less than age 65, to a maximum of $5,000.00.
Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.
Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

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