Lost Retirement Benefits definition

Lost Retirement Benefits means the projected value of employer contributions under the Verso Paper Retirement Savings Plan, the Verso Paper Deferred Compensation Plan, and the Verso Paper Supplemental Salaried Retirement Savings Plan (collectively, the “Plans”) that Employee would have received had he remained actively employed with Verso Paper during the twenty-four (24) months following Employee’s termination of employment with Verso Paper. The determination of the Lost Retirement Benefits shall be made by Verso Paper, in its sole and absolute discretion, and shall be based on (i) Employee’s monthly base salary in effect in the month immediately preceding the termination of his employment and (ii) the assumption that Employee’s salary deferrals during such twenty-four (24) month period are in such amounts as would produce the maximum possible matching contribution by Verso Paper under the Plans. Verso Paper shall contribute on Employee’s behalf the value of his Lost Retirement Benefits to the Verso Paper Deferred Compensation Plan in a lump sum payment as soon as reasonably practicable after the determination of the Lost Retirement Benefits is made.
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Lost Retirement Benefits means the projected value of employer contributions under the Company’s Retirement Savings Plan, Deferred Compensation Plan, and Supplemental Salaried Retirement Savings Plan (collectively, the “Plans”) that the Executive would have received had he remained actively employed with the Company during the twenty-four (24) months following the Date of Termination. The determination of the Lost Retirement Benefits shall be made by the Company, in its sole and absolute discretion, and shall be based on (i) the Annual Base Salary per month in effect in the month immediately preceding the Date of Termination and (ii) the assumption that the Executive’s salary deferrals during such twenty-four (24) month period are in such amounts as would produce the maximum possible matching contribution by the Company under the Plans. The Company shall contribute on the Executive’s behalf the value of his Lost Retirement Benefits to the Company’s Deferred Compensation Plan in a lump sum payment as soon as reasonably practicable after the determination of the Lost Retirement Benefits is made;
Sample 1
Lost Retirement Benefits means the projected value of employer contributions under the Company’s Retirement Savings Plan, Deferred Compensation Plan, and Supplemental Salaried Retirement Savings Plan (collectively, the “Plans”) that the Executive would have received had he remained actively employed with the Company during the twenty-four (24) months following the Date of Termination. The determination of the Lost Retirement Benefits shall be made by the Company, in its sole and absolute discretion, and shall be based on (x) the Annual Base Salary per month in effect in the month immediately preceding the Date of Termination and (y) the assumption that the Executive’s salary deferrals during such twenty-four (24) month period are in such amounts as would produce the maximum possible matching contribution by the Company under the Plans. The Company shall contribute on the Executive’s behalf, on a date determined by the Company but in any event within the ninety (90) day period following the Date of Termination, the value of his Lost Retirement Benefits to the Company’s Deferred Compensation Plan in a lump sum payment.”
Sample 1

Examples of Lost Retirement Benefits in a sentence

  • The determination of the Lost Retirement Benefits shall be made by Verso Paper, in its sole and absolute discretion, and shall be based on (i) Employee’s monthly base salary in effect in the month immediately preceding the termination of his employment and (ii) the assumption that Employee’s salary deferrals during such twenty-four (24) month period are in such amounts as would produce the maximum possible matching contribution by Verso Paper under the Plans.

  • The Lost Retirement Benefits contribution will be made to your Deferred Compensation Plan account in a single contribution within 90 days after the End Date.

  • Deferred Compensation may result in Lost Retirement Benefits under the Company’s Retirement Plan.

  • The following rules will apply to the types of benefits listed below.• Lost Retirement Benefit—Deferred Compensation may result in Lost Retirement Benefits under the Company’s Retirement Plan.

  • Lost Retirement Benefit—Deferred Compensation may result in Lost Retirement Benefits under the Company’s Retirement Plan.

  • The determination of the Lost Retirement Benefits shall be made by the Company, in its sole and absolute discretion, and shall be based on (x) the Annual Base Salary per month in effect in the month immediately preceding the Date of Termination and (y) the assumption that the Executive’s salary deferrals during such twenty-four (24) month period are in such amounts as would produce the maximum possible matching contribution by the Company under the Plans.

  • Parental Leave (placement-related) normally commences from the date the child is placed with the parents.

  • Verso Paper shall contribute on Employee’s behalf the value of his Lost Retirement Benefits to the Verso Paper Deferred Compensation Plan in a lump sum payment as soon as reasonably practicable after the determination of the Lost Retirement Benefits is made.

  • The Company will contribute to your Deferred Compensation Plan account an amount equal to $381,250 as two years of your Lost Retirement Benefits (as defined in the CNC Agreement).

  • Verso shall contribute the Lost Retirement Benefits to Employee’s account under the deferred compensation plan within 90 days after the Termination Date, except in the event that the determination of any portion of the Lost Retirement Benefits is dependent on the occurrence of an event occurring after the Termination Date, in which case Verso shall make the contribution of such portion of the Lost Retirement Benefits within 45 days after such event occurs.

Related to Lost Retirement Benefits

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • SERP Benefit means the benefit described in Section 5.1.

  • Termination Benefit means the benefit set forth in Article 7.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Employment benefits means all benefits provided or made

  • Disability Benefit means the benefit set forth in Article 8.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Disability retirement for plan 1 members, means the period

  • Accrued Benefit have the meanings specified in ERISA.

  • Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Normal Retirement Age means the Executive's 65th birthday.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Employer for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, but subject to any deferral election then in effect, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained at the target level (reduced, but not below zero, by amounts paid under all such contingent bonus or incentive compensation awards upon the Change in Control of the Company to the extent such amounts relate to the same period of time); and (v) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary) may be entitled on the Termination Date as compensatory fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits; provided that payments pursuant to clause (iv)(B) shall be paid on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs, unless the Executive’s Separation from Service is due to death, in which event such payment shall be made within 90 days of the date of Executive’s death.

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

  • Retirement Age means the earlier to occur of the Participant attaining: (i) age 65 or more; or (ii) age 60 or more with at least 15 years of continuous Service, provided that the Participant has continuously remained in Service from the Award Date until the earlier to occur of (i) or (ii).

  • Vested Benefits means amounts which are vested or which Executive is otherwise entitled to receive under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company or any of its subsidiaries, at or subsequent to the date of his termination without regard to the performance by Executive of further services or the resolution of a contingency.

  • Special Retirement means an Optionee’s termination of employment or service with the Employers and Affiliates on or after the later of (i) the Optionee’s attainment of age 62 and (ii) the Optionee’s Early Retirement Date or Normal Retirement Date, as such terms are defined in the Telephone and Data Systems, Inc. Pension Plan.