Supplemental Benefit Pension Plan Sample Clauses

Supplemental Benefit Pension Plan. (a) The Corporation undertakes and agrees with the Executive (herein, the “supplementary undertakings”) to pay or cause to be paid the amounts provided for in the supplemental benefit pension plan as modified by this Section 2.8. In particular, the Executive (or the Executive’s spouse or beneficiary as defined in the supplemental benefit pension plan) is entitled to receive: (i) benefits determined in accordance with the supplemental benefit pension plan, being certain amounts that would be payable from the defined benefit pension plan but for limitations imposed by the Income Tax Act, all as specified in the supplemental benefit pension plan; (ii) benefits determined in accordance with the supplemental benefit pension plan as if his credited service prior to January 1, 2000 in the lifetime retirement income formula in the defined benefit pension plan were increased by six (6) years; and (iii) if Section 2.6(d) applies, benefits determined in accordance with the supplemental benefit pension plan pursuant to (i) as if: A. two additional years of credited service were applied in the lifetime retirement income formula in the defined benefit pension plan, and two additional years of continuous service were granted for other purposes of the defined benefit pension plan; and B. for each of the two additional years of credited service earnings are deemed to be received equal to Annual Compensation for the purposes of determining final or best average earnings. (b) The Executive acknowledges and accepts that prior to January 1, 2001 the Corporation had not funded the supplementary undertaking. The Executive further acknowledges and accepts, and the Corporation undertakes to the Executive, that effective January 1, 2001 the supplementary undertaking will be funded by the Corporation over a period of seven years in a separately maintained retirement compensation arrangement (as referred to in the Income Tax Act (Canada)) to be separately maintained and established by the Corporation (the “RCA”). The supplementary undertaking will be paid from amounts in the RCA with any amount that cannot be paid from the RCA being paid by the Corporation.

Supplemental Benefit Pension Plan. (a) The Corporation undertakes and agrees with the Executive (herein, the “supplementary undertakings”) to pay or cause to be paid the amounts provided for in the supplemental benefit pension plan as modified by this Section 2.8. In particular, the Executive (or the Executive’s spouse or beneficiary as defined in the supplemental benefit pension plan) is entitled to receive: (i) benefits determined in accordance with the supplemental benefit pension plan, being certain amounts that would be payable from the defined benefit pension plan but for limitations imposed by the Income Tax Act, all as specified in the supplemental benefit pension plan; (ii) if the Executive’s employment ceases for any reason after the Executive attains age 55, upon or after the occurrence of a change in control or if Section 2.6 applies, benefits determined in accordance with the supplemental benefit pension plan pursuant to (i) as if: A. the rate of annual accrual in the lifetime retirement income formula in the defined benefit pension plan for credited service prior to January 1, 2000, were 2.0%; and

Supplemental Benefit Pension Plan. Executive Officers Bonus Plan as defined by the Bank's Board of Directors.