SERP Benefit definition
Examples of SERP Benefit in a sentence
If the Executive has properly elected an annuity form of payment with respect to the Accrued SERP Benefit, said annuity shall be included in the paid up annuity identified in this Section 8(a)(5), subject to applicable law.
If the Executive has properly elected a lump sum with respect to the Accrued SERP Benefit, such lump sum shall also be paid at the time specified above, subject to applicable law.
The Executive shall receive payment of the Accrued SERP Benefit in such form or forms of payment as the Executive has properly elected under the terms of the SERP.
In the event that the Executive’s employment and the Employment Term ends on account of the Executive’s Disability, the Company shall pay or provide to the Executive the Accrued Benefits and the SERP Benefit.
Except as otherwise provided in this Amended Participation Agreement, any SERP Benefit shall be payable on all of the same terms and conditions, including timing, set forth in the Plan.