Retirement Payments definition

Retirement Payments means the arrangements for post-retirement payments to Non-Employee Directors adopted by ML & Co. for its Non-Employee Directors, as amended February 16, 2001.
Sample 1Sample 2Sample 3
Retirement Payments shall have the meaning specified in Section 1.1(c).
Sample 1
Retirement Payments means any obligations due to (i) any current or former holder of Equity Interests in the Partnership or its Affiliates as an “Earnings Benefit,” as such term is defined in the Partnership Agreement or another agreement to which the Partnership is or was a party and (ii) any current or former employee of the Partnership or its Affiliates with respect to any “covenant” retirement payments (including (a) any withdrawal value, covenant obligations, and amounts payable to former holders of Equity Interests in the Partnership and any Business Employees not yet actually retired but who will be entitled or owed post-retirement payments or benefits in the future, and (b) any unfunded or underfunded retiree or post-termination health or welfare benefits, including all obligations relating to the termination and payment of all payments or benefits contemplated by the Partnership Agreement for Persons who previously retired or whose employment with a Group Company was otherwise terminated or who may otherwise be eligible for such payments or benefits), in each case, plus the employer portion of any and all payroll, social security, unemployment or similar Taxes that are imposed in connection with or as a result of the payment of such obligations.
Sample 1

Examples of Retirement Payments in a sentence

  • The First Year Retirement Payments and/or the Benefit for each year will be paid in quarterly installments that are as nearly equal as possible.

  • If the disabled Independent Director should die before the First Year Retirement Payments are completed and before forty quarterly Benefit payments are made, such payments will continue to be made to the Independent Director's designated beneficiary until the aggregate of the First Year Retirement Payments and forty quarterly Benefit payments have been made to the disabled Independent Director and the Director's designated beneficiary.

  • If no such beneficiary shall have been designated, or if no designated beneficiary shall survive the Independent Director, the value or remaining value of the Independent Director's First Year Retirement Payments and/or Benefit shall be determined as of the date of the death of the Independent Director by the Committee and shall be paid as promptly as possible in one lump sum to the Independent Director's estate.

  • Each Fund is responsible for the payment of the amount of the First Year Retirement Payments and/or Benefit applicable to the Fund, as well as its proportionate share of all expenses of administration of the Plan, including without limitation all accounting and legal fees and expenses and fees and expenses of any Actuary.

  • The obligations of each Fund to pay such First Year Retirement Payments and/or Benefit and expenses will not be secured or funded in any manner, and such obligations will not have any preference over the lawful claims of each Fund's creditors and shareholders.

  • To the extent that the First Year Retirement Payments and/or Benefit is paid by more than one Fund, such costs and expenses will be allocated among such Funds in a manner that is determined by the Committee to be fair and equitable under the circumstances.

  • Notwithstanding any other provisions of this Plan which may imply the contrary, amendments to the Plan which directly or indirectly increase or otherwise enhance or improve the First Year Retirement Payments, the Benefit, or other Plan provisions will be applied prospectively, but not retroactively, to Independent Directors who have reached their Service Termination Dates and who either are eligible in the future to receive, or are receiving, First Year Retirement Payments or Benefits.

  • Option 2: Early Retirement Payments and Accumulated Leave Payment will be paid after January 1, and before January 15, of the school year following the school year in which the teacher retires.

  • Option 1: Early Retirement Payments and Accumulated Leave Payment will be paid by June 30th of the year of retirement.

  • Buyer shall notify Seller of the quantity of Gas that it wishes to nominate for delivery under this Agreement at the Delivery Point, for each Day of the following Week, no later than 13:00 hours on the Friday of the preceding Week.


More Definitions of Retirement Payments

Retirement Payments means the amounts payable to a Participant pursuant to this Plan.
Sample 1
Retirement Payments means the payments to be financed under the Project and paid to a fraction of MECNT’s employees eligible to retirement in accordance with the terms and conditions of the Human Resources Plan.
Sample 1

Related to Retirement Payments

  • 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;

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

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

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

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

  • Retirement fund means the "Washington law enforcement

  • Bereavement Pay Benefits means the benefits as set out in Article II hereof.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

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

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

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • Termination Payments means any payment or distribution of Compensation or benefits made pursuant to Section 4.1(a)-(c) of this Agreement.

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

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in value in the aggregate as are payable thereunder prior to a Change in Control.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • 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.

  • Retirement means Normal or Early Retirement.

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Individual retirement account means an individual retirement account under Section 408 of the Code, a Roth IRA under Section 408A of the Code, a simplified employee pension under Section 408(k) of the Code or a simple retirement account for employees under Section 408(p) of the Code.

  • superannuation benefit means a pension, gratuity or other allowance payable on resignation, retirement or death;

  • Final compensation of a member means: