Common use of Supplemental Retirement Income Plan Clause in Contracts

Supplemental Retirement Income Plan. The Executive's ----------------------------------- Benefit under Section 4.1 of the Company's Supplemental Retirement Income Plan (the "Retirement Plan") shall be fifty-two and one-half percent (52.5%) of his Final Average Monthly Compensation and such Benefit shall be fully Vested, effective upon the date of the Change in Control, notwithstanding any provision of the Retirement Plan to the contrary. The terms "Benefit", "Final Average Monthly Compensation" and "Vested" shall have the meanings set forth in the Retirement Plan. The Retirement Plan shall automatically be amended to reflect this change upon the date of the Change in Control, without further action of the Company or the Executive.

Appears in 3 contracts

Samples: 1999 Agreement (Pinkertons Inc), Employment Agreement (Pinkertons Inc), Employment Agreement (Pinkertons Inc)

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Supplemental Retirement Income Plan. The Subject to ----------------------------------- compliance with Section 7.03, the Executive's ----------------------------------- Benefit under Section 4.1 of the Company's Supplemental Retirement Income Plan (the "Retirement Plan") shall be fifty-two and one-half percent (52.5%) of his Final Average Monthly Compensation and such Benefit shall be fully Vested, effective upon the date of the Change in Control, notwithstanding any provision of the Retirement Plan to the contrary. The terms "Benefit", "Final Average Monthly Compensation" and "Vested" shall have the meanings set forth in the Retirement Plan. The Retirement Plan shall automatically be amended to reflect this change upon the date of the Change in Control, without further action of the Company or the Executive.

Appears in 1 contract

Samples: Employment Agreement (Pinkertons Inc)

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