Supplemental Pension Benefit. The "supplemental pension benefit" shall be the greater of (i) the supplemental cash balance accrued benefit described in Paragraph 1(b)(1) of this Annex A, or (ii) the supplemental unit credit accrued benefit described in Paragraph 1(b)(2) of this Annex A.
(1) The "supplemental cash balance accrued benefit" is the difference, if any, between (A) and (B) where:
(A) is the benefit to which the Executive would be entitled under the Pension Plan as in effect immediately prior to the Change of Control or, if more favorable to the Executive, as in effect generally at any time thereafter during the Employment Period with respect to other peer executives of the Company and its Affiliated Companies, expressed in the normal form of benefit, if such benefit was computed (i) as if benefits under such plan were based upon the Executive's Bonus Compensation (within the meaning of the SERP as in effect immediately prior to the Change of Control), (ii) without the annual compensation limitation imposed by Code Section 401(a)(17), and (iii) without the restrictions or the limitations imposed by Code Section 415(b); and
(B) is the sum of the benefits payable to the Executive under the Pension Plan and the Supplemental Retirement Plans, expressed in the normal form of benefit.
(2) The "supplemental unit credit accrued benefit" is the difference, if any, between (A) and (B) where:
(A) is the benefit to which the Executive would be entitled under the Prior Pension Plan (within the meaning of the Supplemental Retirement Plans as in effect immediately prior to the Change of Control) (provided that the Executive was actually a participant in the Prior Pension Plan), expressed in the normal form of benefit, if such benefit was computed (i) as if benefits under such plan were based upon the Executive's Bonus Compensation, (ii) without the annual compensation limitation imposed by Code Section 401(a)(17), and (iii) without the restrictions or the limitations imposed by Code Section 415(b); and
(B) is the sum of the benefits payable to the Executive under the Pension Plan and the Supplemental Retirement Plans, expressed in the normal form of benefit.
Supplemental Pension Benefit. The "supplemental pension benefit" shall be the greater of (i) the supplement cash balance accrued benefit described in Paragraph 1(b)(1) of this Annex A, or (ii) the supplement unit credit accrued benefit described in Paragraph 1(b)
Supplemental Pension Benefit. (1) The Company shall pay to Executive a monthly Supplemental Pension Benefit in an amount equal to the amount determined pursuant to clause a. below less the amount determined pursuant to clause b. below:
a. if the Pension Plan is not frozen with regard to compensation, the aggregate monthly amount of the pension benefit (“Pension”) that would have been payable to Executive under all Pension Plans if that Pension were computed by considering his monthly compensation during the three years following the termination of Executive following a Change in Control (the “Severance Period”) to be one-twelfth of his Base Salary and one-twelfth of the Target Bonus for all purposes of the Pension Plans;
b. the aggregate monthly amount of any Pension actually paid to Executive under all Pension Plans.
(2) The Supplemental Pension Benefit payable to Executive hereunder shall be paid to Executive in a lump sum within 60 days after his date of termination of employment, but not earlier than six (6) months following the date termination in the event Executive terminates his employment with the Company for any reason.
(3) If Executive dies prior to commencement of payment to him of his Pension under the Pension Plans, under circumstances in which a death benefit under the Pension Plans is payable to his surviving spouse or other beneficiary, then the Company shall pay a monthly Supplemental Death Benefit to Executive’s surviving spouse or other beneficiary entitled to receive the death benefit payable with respect to Executive under the Pension Plans in an amount equal to the amount determined pursuant to clause a. below less the amount determined pursuant to clause b. below:
a. the aggregate monthly amount of the death benefit that would have been payable to the surviving spouse or other beneficiary of Executive under the Pension Plans if that death benefit were computed by considering his monthly compensation during the Severance Period to be one-twelfth of his Base Salary and one-twelfth of the Target Bonus for all purposes of the Pension Plans;
b. the aggregate monthly amount of any death benefit actually paid to the surviving spouse or other beneficiary of Executive under the Pension Plans.
(4) The Supplemental Death Benefit payable with respect to Executive hereunder shall be payable at the same time and to the same persons as is applicable to the death benefit payable with respect to Executive under the Pension Plans.
(5) Any actuarial adjustments made under the Pens...
Supplemental Pension Benefit. (a) Notwithstanding anything in the SEBRP to the contrary, the form, amount and timing of payments of Executive’s SEBRP benefits shall be determined under this Section 5, which shall be deemed to modify the SEBRP with respect to Executive.
(b) If Executive’s Termination Date occurs for any reason after he has completed at least five (5) Years of Service, Executive shall be entitled to a supplemental pension valued on the basis of a single life annuity payable upon his termination of employment equal to the greater of (i) 10% of Executive’s Final Average Pay per Year of Service, to a maximum of 60% of Executive’s Final Average Pay, reduced by the actuarially equivalent benefit payable under the Qualified Plan, or (ii) the Executive’s benefit payable under the SEBRP (determined solely by reference to the SEBRP document) converted to an actuarially equivalent life annuity payable upon his termination of employment. In no event, however, shall Executive’s monthly benefit be less than the amount determined in Section 5(c). Executive’s benefit under this Section 5(b) shall be payable 50% in the applicable annuity form described in the next sentence and 50% in an actuarially equivalent single sum. If Executive’s Spouse is living on the Termination Date, the applicable annuity form shall be an actuarially equivalent 100% joint and survivor annuity measured by the remaining lifetimes of Executive and his Spouse, and if Executive’s Spouse is not living on the Termination Date, the applicable annuity form shall be a single life annuity measured by Executive’s remaining lifetime. If Executive’s employment terminates as a result of death, (i) the lump sum benefit described above shall be payable upon his death to his surviving Spouse, if she is then living, otherwise to his estate, and (ii) if Executive is survived by his Spouse, she shall receive the survivor annuity portion of the 100% joint and survivor annuity described above.
(i) If Executive’s Termination Date occurs before he has completed five (5) Years of Service for any reason other than voluntary resignation or termination for Cause, Executive shall be entitled to a supplemental pension equal to $24,226 per month payable for the remaining lifetime of Executive, and if Executive is survived by his Spouse, for the remaining lifetime of the Spouse after Executive’s death, reduced as provided for in subparagraph (ii).
(ii) The benefit payable pursuant to paragraph (i) shall be offset by the corresponding actuari...
Supplemental Pension Benefit. The Supplemental Pension Benefit shall be equal to the difference between (i) and (ii):
i. The benefit to which Executive would be entitled under the Pension Plan if he were one hundred percent (100%) vested thereunder; and
ii. The benefit to which Executive actually is entitled under the Pension Plan.
Supplemental Pension Benefit. Notwithstanding Section 3 hereof, Executive shall be entitled to participate in the Company’s Supplemental Executive Retirement Plan, amended and restated as of February 14, 2006 ("SERP"), or such successor or amended plan(s) as shall be adopted from time to time. Executive shall not be required to participate in any successor to the SERP if such successor plan fails to contain terms and conditions applicable to Executive that are no less favorable than those applicable to other senior executive officers of the Company, and he may instead provide the Company with his written election to remain as a participant in the SERP. So long as Executive continues to participate in the SERP, in the event of Executive's termination of employment on account of (1) Disability, (2) the Company's termination of Executive's employment without Cause, or (3) Executive's resignation from employment either for Good Reason or with the consent of the Board, Executive's additional benefits under Part B of the SERP (Article XXIII(b)) shall be calculated as if Executive had attained the lesser of (a) age 62 or (b) Executive's actual age plus three (3) years at the time of such termination of employment, and Executive's benefits as thus determined shall be fully vested. The preceding sentence shall not be required to apply to the determination of Executive's benefits under any successor or replacement plan(s) for the SERP as the Company may adopt in the future.
Supplemental Pension Benefit. The Executive's Supplemental Pension Benefit, at any Valuation Date, is equal to the lump sum Actuarial Equivalent of the amount determined under Section 2.1 above.
Supplemental Pension Benefit. You will be entitled to a supplemental pension benefit calculated in the manner set forth in Exhibit A to the letter agreement, dated April 3, 1986, between you and Nordson (the "Employment Agreement"), except that the amount of any lump sum payment or other optional method of payment will be calculated using the 1992 life expectancy table set forth on Exhibit 1(a) hereto. A sample of the calculation of the amount of a lump sum payment, assuming that the Termination Date is March 5, 2000, and that the PBGC interest rate used therein is the same as that in effect on the Termination Date, is set forth in Exhibit 1(b) hereto. The lump sum termination benefit referred to in paragraph 3(a) and the severance bonus referred to in paragraph 3(b) will not be counted in determining the amount of your 36-Month Average Annual Compensation for purposes of the supplemental pension benefit under your Employment Agreement or for purposes of determining the amount of your benefits under any of Nordson's benefit plans.
Supplemental Pension Benefit. The term “Supplemental Pension Benefit” shall mean (a) less (b), where:
Supplemental Pension Benefit. Upon the fifth anniversary of the Effective Date, the Executive (if employed by the Company on such anniversary) shall vest in a supplemental pension benefit (the “Supplemental Pension Benefit”) in an annual amount equal to the product of (A) two percent (2%) of the sum of (1) the average amount of Annual Base Salary earned by the Executive with respect to the five most recently completed years of the Executive’s employment with the Company (such years to be calculated by reference to calendar years) plus (2) the average amount of the annual cash bonuses earned by the Executive pursuant to Section 3(b)(ii) for the Company’s five completed fiscal years immediately preceding the termination of the Executive’s employment and (B) the number of completed full years of Executive’s employment with the Company (also calculated by reference to calendar years, provided that Executive shall be deemed to have completed a full calendar year of employment with the Company for 2005). The amount of the Executive’s Supplemental Pension Benefit shall be offset by any amounts payable to the Executive under any qualified or nonqualified pension plans of the Company (with the amount of any balance in a defined contribution plan converted into a single life annuity for purposes of calculating the amount of such offset) and by the amount of the Executive’s benefit from Social Security. The Supplemental Pension Benefit shall be payable according to Executive’s election on the election form attached as Exhibit H.
