Examples of SERP Contributions in a sentence
Except as provided in Section 6.1(a)(iv) below, the portion of such Distributable Amount that is attributable to Company DB SERP Contributions (“the DB SERP Distributable Amount”) shall be distributed in 20 substantially equal quarterly installments, beginning on the Participant’s Payment Date.
In the case of a Participant who terminates employment with the Company for any reason and has an Account balance of $50,000 or less, the Distributable Amount (including amounts attributable to Company DB SERP Contributions) shall be paid in a lump sum distribution on the Participant’s Payment Date.
An Employee is eligible to receive DC SERP Contributions with respect to a Plan Year for so long as he or she satisfies the conditions in either (i) or (ii) below.For purposes of determining eligibility for the DC SERP, the term “hired” has the meaning assigned in the VIP for purposes of determining eligibility for Company Contributions thereunder, regardless of the date on which the Employee joins the E-Series Payroll.
In the case of a Participant who terminates employment for any reason other than Retirement, the Distributable Amount (other than amounts attributable to Company DB SERP Contributions) shall be paid to the Participant in a lump sum on the Participant’s Payment Date.
No Company DB SERP Contributions attributable to services rendered by or compensation payable to a Participant after the SERP Termination Date shall be credited to a Participant’s Company DB SERP Contribution Account.
The Account of each Participant shall track the total amount of Deferrals, Matching, Rollover, SERP Contributions, or Discretionary Company Contributions to such Account for each Plan Year and earnings thereon.
All SERP Contributions credited to a Participant’s Account, together with earnings thereon, shall be forfeited if the Participant terminates employment with the Participant’s Employer for any reason prior to the Vesting Date.
Each Account shall be increased by any Annual SERP Contributions credited since such prior Determination Date as set forth above in sections 4.2 or as otherwise directed by the Company.
For purposes of Section 409A of the Code, the portion of the amounts contributed as SERP Contributions and benefits attributable thereto, shall be considered a nonelective account balance plan as defined in Treas.
A Participant or Beneficiary may elect to receive a distribution of all or a portion of his or her Extra Deferral Account, Restoration Account, Executive Benefit Account (other than the portion attributable to DC SERP Contributions), and DCP Account, regardless of whether benefit payments have commenced, to the extent that the Participant or Beneficiary incurs an Unforeseeable Emergency.