Supplemental Retirement and Profit Sharing Benefits Sample Clauses

Supplemental Retirement and Profit Sharing Benefits. (i) On the Termination Date, Executive shall become vested in the benefits provided under Polaroid's non-qualified defined benefit pension plans or any successor plans (the "Supplemental Plans"). (ii) Within ten (10) business days after the Termination Date, Polaroid shall pay Executive a lump sum cash amount equal to the present value of Executive's accrued benefit under the Supplemental Plans. For purposes of computing the lump sum present value of Executive's accrued benefit under the Supplemental Plans, (A) Polaroid shall credit Executive with two (2) years of plan participation and service and two (2) years of age for all purposes (including additional accruals and eligibility for early retirement) over Executive's actual years and fractional years of plan participation and service and age credited to Executive on the Termination Date; and (B) Polaroid shall apply the present value (and any other actuarial adjustments required by this Agreement) using the applicable actuarial assumptions set forth in the Pension Plan. In determining Executive's benefits under this paragraph (e)(B), the terms of the Supplemental Plans as in effect immediately prior to the Change in Control, except as expressly modified in this paragraph (e), shall govern.
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Supplemental Retirement and Profit Sharing Benefits. Executive will become fully vested in any unfunded pension benefit provided under any nonqualified pension plan, program or arrangement in which he or she participates (including, without limitation, the Benefit Equalization Plan and the Supplemental Retirement Account Plan).
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Supplemental Retirement and Profit Sharing Benefits. (i) On the Termination Date, the Executive shall become vested in the benefits provided under the Company's Supplemental Plans. (ii) Within ten (10) business days after the Termination Date, the Company shall pay the Executive a lump sum cash amount equal to the present value of the Executive's accrued benefit under the Supplemental Plans. For purposes of computing the Executive's accrued benefit under the Supplemental Plans in addition to the supplemental benefit provided pursuant to Section 7 above: (A) and before applying Section 7 of this Agreement, the Company shall credit the Executive with three (3) years of plan participation and service and three (3) years of age for all purposes (including additional accruals and eligibility for early retirement) over the Executive's actual years and fractional years of plan participation and service and age credited to the Executive on the Termination Date; and, (B) the Company shall apply the present value (and any other actuarial adjustment required by this Agreement) using the applicable actuarial assumptions set forth in the Polaroid Pension Plan. In determining the Executive's benefits under this subsection 12(e), the terms of the Supplemental Plans as in effect immediately prior to the Change in Control, except as expressly modified in this subsection 12(e), shall govern. This benefit shall be provided pursuant to the Supplemental Retirement Benefit Plan.
Sample 1
Supplemental Retirement and Profit Sharing Benefits. (i) On the Termination Date, the Executive shall become vested in the benefits provided under the Company's non- qualified defined benefit pension plans or any successor plans (the "Supplemental Plans"). (ii) Within ten (10) business days after the Termination Date, the Company shall pay the Executive a lump sum cash amount equal to the present value of the Executive's accrued benefit under the Supplemental Plans. For purposes of computing the lump sum present value of the Executive's accrued benefit under the Supplemental Plans in addition to the supplemental benefit provided pursuant to Section 10 above. (A) Before applying Section 10 of this Agreement, the Company shall credit the Executive with three (3) years of plan participation and service and three (3) years of age for all purposes (including additional accruals and eligibility for early retirement) over the Executive's actual years and fractional years of plan participation and service and age credited to the Executive on the Termination Date; and (B) The Company shall apply the present value (and any other actuarial adjustment required by this Agreement) using the actuarial assumptions set forth in Section 1.01
Sample 1
Supplemental Retirement and Profit Sharing Benefits. You will become fully vested in any unfunded pension benefit provided under any nonqualified pension plan, program or arrangement in which you participate (including, without limitation, the Supplemental Retirement Account Plan of the Company).
Sample 1
Supplemental Retirement and Profit Sharing Benefits. (i) On the Termination Date, the Executive shall become vested in the benefits provided under the Company's Supplemental Plans. (ii) Within ten (10) business days after the Termination Date, the Company shall pay the Executive a lump sum cash amount equal to the present value of the Executive's accrued benefit under the Supplemental Plans.
Sample 1

Related to Supplemental Retirement and Profit Sharing Benefits

  • 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.

  • 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.

  • 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.

  • 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.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • SERP Executive is a participant in the BB&T Corporation Non-Qualified Defined Benefit Plan (the “SERP”). The SERP was formerly known as the Branch Banking and Trust Company Supplemental Executive Retirement Plan. The SERP is a non-qualified, unfunded supplemental retirement plan which provides benefits to or on behalf of selected key management employees. The benefits provided under the SERP supplement the retirement and survivor benefits payable from the Pension Plan. Except in the event the employment of Executive is terminated by the Employer or BB&T for Just Cause and except in the event Executive terminates Executive’s employment for any reason other than Good Reason and such termination does not occur within twelve (12) months after a Change of Control (or, if later, within ninety (90) days after a MOE Revocation), the following special provisions shall apply for purposes of this Agreement: (i) The provisions of the SERP shall be and hereby are incorporated in this Agreement. The SERP, as applied to Executive, may not be terminated, modified or amended without the express written consent of Executive. Thus, any amendment or modification to the SERP or the termination of the SERP shall be ineffective as to Executive unless Executive consents in writing to such termination, modification or amendment. The Supplemental Pension Benefit (as defined in the SERP) of Executive shall not be adversely affected because of any modification, amendment or termination of the SERP. In the event of any conflict between the terms of this Section 1.7.7(i) and the SERP, the provisions of this Section 1.7.7 (i) shall prevail. Executive hereby agrees and consents to Employer’s amendment of the SERP to comply with Section 409A.

  • 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.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

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