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SERP Benefit(s) definition

SERP Benefit(s) means any Conditional Annuities, Pension Parity Benefits, Supplemental Benefits and/or Special Supplemental Benefits payable under this Plan.
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SERP Benefit(s) means benefits to which the Executive is entitled under the Inco SERP.
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SERP Benefit(s) means all benefits payable to a Participant pursuit
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Examples of SERP Benefit(s) in a sentence

  • The Executive may elect to receive the Additional SERP Benefits in the form of a lump sum payment or an annuity payment, provided the Executive has made proper prior election of such payment form.

  • If the Executive elects a lump sum payment of the Additional SERP Benefits, it shall be calculated in accordance with the provisions of the SERP.

  • If the Executive elects an annuity payment of the Additional SERP Benefits, the Company shall purchase for the Executive, naming the Executive and/or the Executive’s designee the owner, a paid up annuity from an insurer reasonably acceptable to the Executive, but in any event having an A.M. Best rating of A+ or better (or other comparable rating).

  • If a court of competent jurisdiction in a proceeding to which the Participant is a party finds that a material breach occurred, then future SERP Benefits may be terminated.

  • Until such time as the judicial order is given effect and is not appealable, the Employer shall continue to pay the SERP Benefits to the Participant or his or her spouse and shall likewise continue to pay his or her legal fees as provided hereunder.

  • Each Participant, subject to the terms and conditions of his Participation Agreement, shall become entitled to receive SERP Benefits in the amounts and for the periods set forth in the executed Participation Agreement.

  • Each Employee who becomes a Participant in the Plan shall continue as a Participant until the earlier of the date that all of his or her vested SERP Benefits (if any) have been distributed or his or her death.

  • A Participant or his or her surviving spouse or beneficiary who is receiving SERP Benefits hereunder will continue to be entitled thereto regardless of other employment or self-employment.

  • Any expenses incurred by the Employer or Administrator incident to such proceeding or litigation shall be charged against the SERP Benefits of the Participant.

  • An Eligible Executive may not assign or alienate any SERP Benefits, and the Plan will not recognize a domestic relations order that purports to assign any SERP Benefit to another person.

Related to SERP Benefit(s)

  • 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;

  • SERP Benefit means the benefit described in Section 5.1.

  • Employment benefits means all benefits provided or made

  • 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.

  • Severance Benefits means the payment of severance compensation as provided in Section 3.3 herein.

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

  • 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.

  • Change in Control Benefits means the following benefits:

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • 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.

  • 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.).

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Covered benefits or “benefits” means those health care services to which a covered person is entitled under the terms of a health benefit plan.

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

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

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

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

  • Public Benefits means the provision of benefits to the community by the Developer in the form and at the times specified in Schedule 3.

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

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

  • Change in Control Severance Benefits means the benefits payable pursuant to Section 3 of this Agreement.

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

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

Most Referenced Clauses

Most Referenced Definitions