Additional Employer Contributions definition
Examples of Additional Employer Contributions in a sentence
The immediate annuity equivalent of the Employee's Additional Employer Contributions Account under the Savings Plan shall be the amount in such Account as of the date the Employee's pension commences hereunder (determined as described in the preceding sentence) converted to an annuity payable as a single life and five year certain annuity to the Employee commencing as of the date the Employee's pension commences hereunder using an interest rate of 7.75% and the 1983 Group Annuity Mortality Table, Male.
New ongoing Employees (i.e. who are not yet employed at the time this Agreement comes into force) will also be provided with a one-off opportunity to opt out of any applicable Additional Employer Contributions and instead receive the Superannuation Opt Out Payment.
Said Additional Employer Contributions will be made in shares of common stock of the Company (“Common Stock”) no later than the date specified in Section 4(b).
An Employee who is eligible for a pension pursuant to Paragraph 1 of Article IV shall be entitled upon his retirement at or after his Normal Retirement Date and on or after the Effective Date to receive a monthly pension equal to (a) $60.00 (effective for retirements occurring after August 17, 2017), multiplied by the Employee's years of credited service reduced by (b) the immediate annuity equivalent of the Employee's Additional Employer Contributions Account under the Bridgestone Americas , Inc.
An Employee who is eligible for a deferred vested pension pursuant to Paragraph 4 of Article IV shall be entitled to a monthly pension equal to (a) $58.00 multiplied by his years of credited service if the date his employment with the Employer terminated was on or after the Effective Date reduced by (b) the age 65 annuity equivalent of the Employee's Additional Employer Contributions Account under the Savings Plan as of the date the Employee terminates employment.
Notwithstanding the above, the Additional Employer Contributions will only be allocated to Applicable Participants, as defined below.
An Employee who is eligible for a pension pursuant to Paragraph 1 of Article IV shall be entitled upon his retirement at or after his Normal Retirement Date and on or after the Effective Date to receive a monthly pension equal to (a) $58.00 (effective for retirements occurring after August 8, 2013), multiplied by the Employee's years of credited service reduced by (b) the immediate annuity equivalent of the Employee's Additional Employer Contributions Account under the Bridgestone Americas , Inc.
An Employee who is eligible for a pension pursuant to Paragraph 3 of Article IV shall be entitled, upon his retirement on or after the Effective Date, to receive a monthly pension equal to (a) $60.00 (effective for retirements occurring after August 17, 2017) multiplied by the Employee's years of credited service reduced by (b) the immediate annuity equivalent of the Employee's Additional Employer Contributions Account under the Savings Plan as of the date his pension commences hereunder.
This document contains the entire agreement between the Parties as to the Confidential Information and supersedes any previous or contemporaneous understandings, commitments, or agreements, whether written or oral, as to such Confidential Information.
Existing eligible Employees (i.e. eligible Employees employed at the time this Agreement comes into force) will be provided with a one-off opportunity to opt out of the Additional Employer Contributions and instead receive the equivalent amount as part of their salary (the Superannuation Opt Out Payment).