Supplemental Executive Retirement Plan Benefits Sample Clauses

Supplemental Executive Retirement Plan Benefits. In the event that Executive incurs a Separation from Service within two years of the date that a Change in Control occurs, payment of the Actuarial Equivalent (except as limited below) of the Executive’s vested Accrued Benefit under the Kaydon Corporation Supplemental Executive Retirement Plan (the SERP), if any, adjusted as provided in this subsection iii to the extent applicable to the Executive.
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Supplemental Executive Retirement Plan Benefits. Payment of the Actuarial Equivalent of the Executive's vested Accrued Benefit under the Kaydon Corporation Supplemental Executive Retirement Plan (the SERP), if any, adjusted as provided in this subsection iii to the extent applicable to the Executive.
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Supplemental Executive Retirement Plan Benefits. Except to the extent expressly prohibited by any applicable law or regulation, any and all restrictions, vesting schedules and conditions or thresholds provided in any supplemental Executive retirement plan, if any is in effect at Executive's Qualifying Termination, shall immediately lapse and Executive shall be entitled immediately to receive all benefits previously granted thereunder.
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Supplemental Executive Retirement Plan Benefits. Executive participates in the Executives’ Supplemental Retirement Income Plan of Building Materials Holding Corporation (“SERP”). Notwithstanding any provision of the SERP to the contrary, if the Executive’s employment with the Company is involuntarily terminated without Cause, voluntarily terminated due to Good Reason as described in Section 7.7 (d), or terminates upon expiration of this Agreement , then the Executive shall immediately become fully vested in his benefits under the SERP. Notwithstanding any provision of this Agreement to the contrary, no provison of this Agreement shall be construed as limiting, in any manner or form, Executive’s right to benefits under the SERP.
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Supplemental Executive Retirement Plan Benefits. Except to the extent expressly prohibited by any applicable law or regulation and notwithstanding, any restrictions or requirements provided in the Kaydon Corporation Supplemental Executive Retirement Plan (or any successor to it), Executive shall be entitled to receive all benefits previously granted to or accrued by him under that Plan, whether previously vested or not increased as provided in this subsection and at the time provided below. The Supplemental Executive Retirement Plan benefits will be computed by: (i) Adding three Years of Credited Service to the Years of Credited Service otherwise credited to Executive under that Plan; and (ii) Ignoring any reduction for early commencement of benefits imposed by that Plan. The actuarial equivalent of the payments from the Supplemental Executive Retirement Plan determined un that Plan and this subsection (b) will be payable in a lump sum thirty (30) days from Termination. The actuarially equivalent amount shall be determined using reasonable actuarial assumptions. The execution of this Change in Control Compensation Agreement constitutes an amendment of the Supplemental Executive Retirement Plan to effect these provisions.
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Supplemental Executive Retirement Plan Benefits 
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Related to Supplemental Executive Retirement Plan Benefits

  • Supplemental Executive Retirement Plan The Executive shall participate in the Company's Unfunded Pension Plan for Selected Executives (the "SERP").

  • 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.

  • 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.

  • Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Supplemental Retirement Benefit The Executive will be entitled to receive a monthly Supplemental Retirement Benefit (the "Supplemental Retirement Benefit") commencing on the first day of the month coincident with or following the later of the Executive's termination of employment or attainment of age 60 and continuing for the remainder of his life. Unless otherwise elected by the Executive, the Supplemental Retirement Benefit shall be payable in the form of a 50% joint and survivor annuity which shall be unreduced for the actuarial value of the survivor's benefit. If the Executive's spouse at the time of his death is not more than four years younger than the Executive, the survivor benefit shall be equal to 50% of the Executive's benefit and shall be payable to his spouse for the remainder of the spouse's life. If the Executive's spouse at the time of his death is more than four years younger than the Executive, the benefit payable to the spouse shall be reduced to a benefit having the same actuarial value as the benefit that would have been payable had the spouse been four years younger than the Executive. The Executive shall also have the right to elect a 100% joint and survivor annuity, on an actuarially-reduced basis or a lump-sum payment, on an actuarially-reduced basis (if the Executive makes a timely lump-sum election which avoids constructive receipt), or any other form of payment available or provided under the "Supplemental Plans" defined in this Section 8. Actuarial reductions shall be based on the actual ages of the Executive and his spouse at the time of retirement. If the Executive is not married at the time of his retirement, actuarial adjustments shall be made as if the Executive had a spouse with the same date of birth as the Executive. In the event that the Executive elects a form of payment other than the automatic 50% joint and survivor annuity or other than a lump sum payment, and remarries subsequent to retirement, the benefits payable under this Section shall be actuarially adjusted at the time of the Executive's death to reflect the age of the subsequent spouse. If the Executive elects a lump sum payment at retirement, no further benefits will be payable under this Section.

  • SUPPLEMENTAL BENEFITS The employer shall maintain a “Supplemental Unemployment Benefits Plan” pursuant to the Employment Insurance Act and Regulations in regard to maternity, parental and adoption leave. The employer shall make amendments as appropriate to ensure that the Plan provides the maximum permissible benefits in conjunction with Articles 17.06, 17.07 or 17.08.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

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