Supplemental Retirement Compensation Sample Clauses

Supplemental Retirement Compensation. During the Term of the Agreement, the Company shall credit an annual supplemental retirement contribution on behalf of the Executive to an unfunded bookkeeping account (“Retirement Account”), in an amount equal to (i) 72.5% of his then current base salary for each fiscal year or partial fiscal year ending during the Term through March 31, 2017 and (ii) 42.5% of his then current base salary for the fiscal year or partial fiscal year ending March 31, 2018. Each contribution shall be made on each March 31 during the Term including the payment for March 31, 2018.
Sample 1See All (4)
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Supplemental Retirement Compensation. (i) If the Executive ceases to be actively employed by the Corporation upon resignation, termination, death or disability on or after December 31, 2002, or is receiving continuing salary payments or disability payments on or after December 31, 2002, pursuant to Section 5(a) or Section 5(b)(2), respectively, the Executive shall be entitled to receive, in addition to the other benefits and compensation specified in this Section 5 and commencing upon completion of the continuing salary payments provided for in Section 5(a) and Section 5(b)(2) of up to 24 or 18 months, respectively, (and excluding any salary payments pursuant to fringe benefit plans), supplemental retirement compensation at the annual rate of 40% of his Adjusted Salary (as that term is defined under 5(c)(3)(v) below) calculated as of the date he ceases to be employed by the Corporation. Such supplemental retirement compensation shall be paid in equal monthly installments and such payments of supplemental retirement compensation shall continue for a period of three years from the date continuing salary payments under Section 5(a) and Section 5(b)(2) cease. Regardless of the Executive's death prior to or after commencement of benefits under this paragraph, the benefits provided for in this paragraph shall be paid to him, his wife, if surviving, or his estate, as the case may be.
Sample 1
Supplemental Retirement Compensation. (i) If the Executive ceases to be actively employed by the Corporation for any reason (including, without limitation, upon resignation, termination, death or disability), the Executive shall be entitled to receive, in addition to the other benefits and compensation specified in this Section 5, $20,000 for each twelve months or portion thereof that the Executive was employed by the Corporation after the Effective Date up to a maximum of $240,000. Such supplemental retirement compensation shall be paid in one lump sum on the date he ceases to be employed by the Corporation.
Sample 1
Supplemental Retirement Compensation. 1. Each unit member will receive supplemental retirement compensation, upon retirement from a State administered Pension Fund following service for the number of years required by such pension fund to qualify for retirement benefits, in the amount of $150.00 for each accumulated unused sick day credited to the administrator as of the date of retirement*. Written notification of such retirement must be provided by December 1 of the preceding year of retirement to receive this payment upon retirement. If such notice is not provided by December 1 of the preceding year, the Board may postpone payment to the following year. *The maximum compensation for accumulated unused sick days will be $25,000.00.
Sample 1

Related to Supplemental Retirement Compensation

  • 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 In addition to the foregoing, Executive shall be eligible to participate in the Supplemental Executive Retirement Plan maintained by Cleco Utility Group Inc. or such other supplemental retirement benefit plans which the Company or its Affiliates may adopt, from time to time, for similarly situated executives (the "Supplemental Plan").

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • 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.

  • Normal Retirement Benefits A Participant shall be entitled to receive the balance held in his or her account upon attaining his or her Normal Retirement Age or at such earlier dates as the provisions of this Article VI may permit. If a Participant elects to continue working past his or her Normal Retirement Age, he or she will continue as an active Participant. Unless the Employer elects otherwise in the Adoption Agreement, distribution shall be made to such Participant at his or her request prior to his or her actual retirement. Distribution shall be made in the normal form, or if elected, in one of the optional forms of payment provided below.

  • Employment Compensation Schedule 3.16 contains a true and correct list of all employees to whom Company is paying compensation, including bonuses and incentives, at an annual rate in excess of Fifteen Thousand Dollars ($15,000) for services rendered or otherwise; and in the case of salaried employees such list identifies the current annual rate of compensation for each employee and in the case of hourly or commission employees identifies certain reasonable ranges of rates and the number of employees falling within each such range.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

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