SERP I definition

SERP I shall have the meaning set forth in Section 7 below.
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SERP I means the Dxxxxx Supplemental Executive Retirement Plan entered as of July 1, 2002 between the Company and the Participant.
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SERP I means the Dreier Supplemental Executive Retirement Plan entered as of July 1, 2002 between the Company and the Participant.
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Examples of SERP I in a sentence

  • For purposes of determining the present value of the Participant’s SERP I benefit, the actuarial assumptions under the Basic Plan for purposes of determining lump sum payments shall be applied.

  • An Employee who is a participant in SERP I or SERP II on December 31, 2009 shall become a Participant in the Plan on January 1, 2010.

  • For each Plan Year, Transition Credits equal to 10% of Participants’ Compensation shall be credited to the Accounts of Participants who were participants in SERP I on December 31, 2009 and who are designated by the SERP Committee as eligible to receive Transition Credits.

  • The present value of the Participant’s SERP I benefit that the Participant would have been entitled to receive on the date he incurs a Separation from Service had SERP I not been frozen.

  • The present value of the Participant’s actual SERP I benefit on the date he incurs a Separation from Service.

  • An Employee who is a participant in SERP I on December 31, 2009 shall become a Participant in the Plan on January 1, 2010.

  • During the Term of Employment, the Executive shall be entitled to participate in the Income Continuation Policy for Select Senior Executives of the Company ("ICP") (which provides benefits to the Executive in the event of a change in control of the Company), the Deferred Compensation Plan and the Supplemental Retirement Plan I for Select Senior Management of the Company ("SERP I").

  • An Executive will qualify for a SERP I Benefit if the Executive (1) was classified as a Band 11 or higher under Nortel Networks employment classification system on or before April 30, 1998, (2) became an Executive on or before May 1, 1998, and (3) elected the Traditional Option effective as of May 1, 2000.

  • If a Participant is designated as eligible for a SERP II Benefit for one period and a SERP I Benefit for a subsequent period, his or her SERP II Benefit accruals under this § 3.1(c) shall stop immediately before the effective of his or her designation as eligible for a SERP I Benefit.

  • The Committee shall designate in writing whether a Participant who is a Rock-Tenn employee will be eligible for a SERP I Benefit, a SERP II Benefit, a SERP III Benefit or a SERP IV Benefit, and the Chairman shall designate in writing whether a Participant who is an RTS employee will be eligible for a SERP I Benefit, a SERP II Benefit, a SERP III Benefit or a SERP IV Benefit.

Related to SERP I

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

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

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

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

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • 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.

  • Supplemental Retirement Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

  • 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 the aggregate as are payable thereunder prior to a Change in Control;

  • 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;

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

  • Savings Plan or "plans" means a plan that provides different investment strategies and allows account distributions for qualified higher education expenses.

  • Profit Sharing Plan means a profit-sharing plan that is qualified pursuant to 26 U.S.C. § 401 of the Internal Revenue Code and subject to the Employee Retirement Income Security Act, and which provides for employer contributions in the form of cash, but not in the form of stock or other equity interests in a Medical Marijuana Business.

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

  • Thrift Plan means the Financial Institutions Thrift Plan, a qualified and tax-exempt defined contribution plan and trust under Sections 401(a) and 501(a) of the Code, as adopted by the Bank.

  • Nonqualified deferred compensation plan means a compensation plan described in Section 3121(v)(2)(C) of the Internal Revenue Code.

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

  • Basic Plan means as to any Member or Vested Former Member the defined benefit pension plan of the Company or an Affiliated Employer intended to meet the requirements of Code Section 401(a) pursuant to which retirement benefits are payable to such Member or Vested Former Member or to the Surviving Spouse or designated beneficiary of a deceased Member or Vested Former Member.

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Retirement Eligibility with respect to this Award means a Participant attaining age sixty (60) and completing five (5) Full Years of Continuous Service with the Employer; and

  • Normal Retirement Benefit means an annual benefit payment in the amount of Sixty-Six Thousand Three Hundred and Seventy-Three Dollars ($66,373.00) for a period of fifteen (15) years.

  • Supplemental Plan means a written plan for a child outlining the agency's plan to locate a permanent placement for the child and which may be developed concurrently with the case plan.

  • Salaried Employee means an employee who is not covered by the Fair Labor Standards Act who regularly receives each pay period a predetermined amount constituting all or part of compensation. This base salary cannot be reduced because of variations in the quality or quantity of work performed.