Supplemental Retirement Plan Benefit Sample Clauses

Supplemental Retirement Plan Benefit. Pursuant to the provisions of Section ------------------------------------ 4(d) of the Prior Employment Agreement, the Company was obligated to fully fund Employee's retirement benefit under the Supplemental Retirement Plan in the manner, amount and pursuant to the actuarial assumptions and factors described in the Prior Employment Agreement. The Company hereby confirms that, in January 2001, it deposited in the Trust an amount sufficient to satisfy such funding obligation. As contemplated in the Prior Employment Agreement, the Company hereby agrees that, upon Employee's retirement and from time to time thereafter as may be reasonable, the Company shall cause the actuary for the TXU Retirement Plan to review the funded status of Employee's Supplemental Retirement Plan benefit, and the Company shall make additional deposits to the Trust if necessary to adjust the funded status of such benefit so that it remains fully funded based on the assumptions and factors specified in the Prior Employment Agreement (which are hereby incorporated in this Agreement by reference), or such other or different assumptions and factors as may be deemed by the actuary to be appropriate at the time of such review if the use of such other or different assumptions and factors would require a higher level of funding of the Trust. The Company's obligations under this paragraph shall survive the expiration or termination of this Agreement regardless of the reason for such expiration or termination.
Sample 1
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Supplemental Retirement Plan Benefit. The Company agrees to -------------------------------------- pay a lump sum payment of $1,900,657.05 on July 23, 2002 in full satisfaction of the Company's obligation under the Transocean Offshore Inc. Supplemental Benefit Plan ("Supplemental Plan"), subject to the Executive's continued service through the Retirement Date or involuntary termination by the Company prior to the Retirement Date for any reason other than "Cause" (as defined in the 2000 Agreement). The Executive acknowledges that he has been provided satisfactory documentation regarding the calculation of this benefit, and the Executive specifically agrees and acknowledges that the payments set forth in Sections 2.B and 3.D of this Agreement are not includable in determining the amount payable under the Supplemental Plan.
Sample 1
Supplemental Retirement Plan Benefit. The Company agrees ------------------------------------- to pay a lump sum payment on August 21, 2002, in accordance with the Company's obligation under the Transocean Offshore Inc. Supplemental Benefit Plan ("Supplemental Plan"). Prior to making such payment, the Company will provide Executive with documentation regarding the calculation of this benefit. The Executive specifically agrees and acknowledges that the payments set forth in Sections 2.B and 2.C, and Section 3, of this Agreement are not includable in determining the amount payable under the Supplemental Plan.
Sample 1
Supplemental Retirement Plan Benefit. 6.1 The Bank agrees that in addition to the Executive’s salary and other compensation, the Executive shall be entitled to a supplemental retirement plan benefit described in the 2011 Supplemental Executive Retirement Plan.
Sample 1

Related to Supplemental Retirement Plan Benefit

  • 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").

  • 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 Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • 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.

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Pre-Retirement Death Benefit 4.1 (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • SUPPLEMENTAL BENEFITS The Reinsurer will receive a proportionate share of any premiums for additional benefits as shown in Schedule I, as well as for any extra premiums the Ceding Company may collect for the coverage of special risks (traveling, climate, occupation, etc.). This share will be based on the ratio between the amount at risk and the total initial benefits insured and will remain constant throughout the entire period of premium payment.

  • Supplemental Executive Retirement Plan The Executive shall participate in the Company's Unfunded Pension Plan for Selected Executives (the "SERP").

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

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