Supplemental Pension Plan. The City agrees to assess, on the basis of a specific proposal made by a Coalition Union either as part of the Coalition coordinated bargaining process or as part of the individual contract negotiations with a given Union, the acceptability to the City of a given supplemental pension proposal as a policy matter and respond promptly to the Union making such a proposal whether, and/or under what conditions, such a proposal would be acceptable.
Supplemental Pension Plan. During the Employment Period, the Executive shall be entitled to participate in the Lawyers Title Insurance Corporation 1995 Benefit Restoration Plan, as such plan may be amended from time to time, to the extent applicable generally to other peer executives of the Company and its affiliated companies.
Supplemental Pension Plan. The Merck SERP shall continue to be responsible for Liabilities in respect of all Employees (including Transferred Employees) and Former Employees accrued thereunder. No Employees of the Organon Group shall accrue any benefits under the Merck SERP following the later of the Distribution Date and their applicable Transfer Date, but the Merck SERP shall credit such Employee’s continuous service with the Organon Group following the Transfer Date for purposes of early retirement eligibility and early retirement subsidies. Except as otherwise provided by Code Section 409A, a Transferred Employee shall not be considered to have undergone a “separation from service” for purposes of Code Section 409A and the Merck SERP solely by reason of the Spin-Off, and, following his or her Transfer Date, the determination of whether a Transferred Employee has incurred a separation from service with respect to his or her benefit in the Merck SERP shall be based solely upon his performance of services for the Organon Group.
Supplemental Pension Plan. As soon as practicable following the Effective Date, the Company will deliver to Stuelpe, free and clear of any
Supplemental Pension Plan. (a) Establishment of AbbVie SERP. Effective as of or before the Distribution Date, AbbVie shall establish the AbbVie SERP, with terms and funding arrangements substantially similar to those of the Abbott SERP as of the Distribution Date.
Supplemental Pension Plan as approved by the Board of Directors of the Company on May 4, 1988: *Bold items show changes from previous listing. Revised March 31, 1992 -26- Wolverine World Wide, Inc., a corporation organized under the laws of the State of Delaware (the "Company") and Michigan National Bank ("the Trustee") having entered into the above Agreement as of May 19, 1987, do hereby amend the Agreement, as of April 12, 1989, as follows:
Section 3.01 (b) shall be amended by adding the following to the end thereof: "Notwithstanding the foregoing, the Company, in its discretion, may make the Insurance Transfer prior to the occurrence of any Potential Change in Control, and such an Insurance Transfer, in and of itself, shall not be treated as an initial transfer under Section 3.01 (c) hereof." WOLVERINE WORLD WIDE, INC. By: MICHIGAN NATIONAL BANK, As TRUSTEE By: Second Vice President -27- Wolverine World Wide, Inc., a corporation organized under the laws of the State of Delaware (the "Company") and Michigan National Bank ("the Trustee") having entered into the above Agreement as of May 19, 1987, and amended the Agreement on April 12, 1989, do hereby further amend the Agreement, as of May 5, 1989, as follows:
1. The first paragraph after "witnesseth" on page 1 of the above Agreement is revised to read:
Supplemental Pension Plan. A supplemental executive retirement plan (as amended, modified or adopted from time to time, the “SERP”) has been adopted for the senior executives of Covance in which you will participate. The SERP is a non-qualified, unfunded retirement plan designed to provide retirement benefits to you upon your retirement on or after attaining age 60, with provisions enabling you to receive reduced benefits if you retire after attaining age 55.
Supplemental Pension Plan. 1. The bargaining unit members pre-tax wages shall be reduced each month by the amounts paid on account of each member pursuant to paragraphs 3 and 4 hereof. The Employer is not obligated to make any contributions beyond the amounts by which the contractual wage rates are reduced now or in the future.
2. In lieu of an identical amount of pre-tax wages of each bargaining unit member, the Employer shall pay each month into the Western Conference of Teamsters Pension Trust Fund the below referenced amounts on account of each member of the bargaining unit.
3. Effective January 1, 1999, one dollar ($1.00) per compensable hour not to exceed eight dollars ($8.00) (ten dollars $10.00 for 10 hour shift employees) per day and forty dollars ($40.00) per week.
4. The total amount due for each calendar month for each of the bargaining unit employees as set forth in this provision shall be remitted in a lump sum not later than ten (10) business days after the last business day of such preceding month.
5. The Employer hereby acknowledges that he has received a true copy of the Western Conference of Teamsters Pension Plan Agreement and Declaration of Trust and Regulations and shall be considered a party thereto. The Employer further agrees that the employer-trustees named in this Trust, and their successors in trust, are and shall be his representatives, and consents to be bound by the action and determination of the Trustees.
6. The Employer does not make any representations as to whether or not the amounts by which wages are reduced and which are paid into the Trust Fund is non-taxable or taxable. Should it be determined at some later date that the above-referenced payments are taxable income, General Teamsters Local No. 760 will indemnify and hold the Employer harmless against all claims of employees arising from such adverse tax consequence. Should existing tax law change with respect to this particular Pension Trust, the parties agree to meet to bargain a resolution to the matter.
Supplemental Pension Plan. The Executive shall participate in ATI's Supplemental Pension Plan in accordance with its terms except to the extent such terms are modified with respect to the Executive in this subsection. Under ATI's Supplemental Pension Plan, the Executive's accrued benefit will equal 50% of his base salary at termination of employment. This benefit will be payable beginning at age 62 or, if later, upon actual retirement, and will continue for 120 months or, if less, for a number of months equal to 12 times the Executive's years of employment with ATI. Notwithstanding any contrary provision in the Supplemental Pension Plan, (i) if the Executive resigns from employment with ATI at any time prior to attaining age 58 and does not accept employment with a third party, ATI shall pay to or with respect to him an amount equal to 50% of the amount earned from his date of hire to his resignation in equal monthly installments over the period equal to his period of employment commencing at the Executive's 62nd birthday and ATI shall pay each such installment so long as the Executive is not then in the employ of a for-profit corporation, (ii) if the Executive resigns at any time after attaining age 58, ATI shall pay him a benefit equal to the benefit he would have accrued if he was then employed by ATI for the greater of five (5) years or the number of years of actual employment in equal monthly installments over the period equal to the applicable of five (5) years or the number of years of actual employment (but not greater than ten (10) commencing at his age 62 and ATI shall pay each such installment so long as the Executive is not then in the employ of a for profit corporation and (iii) the Executive shall forfeit his right to this supplemental pension if before the Executive attains age 62 his employment is terminated by the Employer for Cause (as set forth in Section 9 hereof).
Supplemental Pension Plan. The Executive will receive a guaranteed benefit -------------------------- if profit sharing and social security do not meet minimum goal of 45% of final average pay. (Benefit is prorated for retirement with less than 30 years' service and retirement prior to age 65.)
