SERP II definition

SERP II shall have the meaning ascribed in Section 6.11(b).
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SERP II means the ALLETE and Affiliated Companies Supplemental Executive Retirement Plan II, as amended from time to time.
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SERP II means the ALLETE and Affiliated Companies Supplemental Executive Retirement Plan II.
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Examples of SERP II in a sentence

  • 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.

  • Unless otherwise modified pursuant to Section 4.1 above, this Agreement shall terminate upon the full payment of the Participant’s Vested SERP II Benefit or Death Benefit in accordance with Article 3.

  • 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.

  • In the event the Executive’s employment is terminated by reason of Retirement (as defined below) or death, the Executive’s benefits shall be determined in accordance with the Company’s Retirement, SERP or SERP II survivor’s benefits, insurance or other applicable program then in effect.

  • The Company shall also pay the Executive all benefits to which the Executive has a vested right at the time of termination as well as the SERP Benefit and SERP II Benefit.

  • In the event this Agreement is terminated by the Board of Directors for Cause, the Company shall pay the Executive his Base Salary through the date of termination and the Executive shall forfeit all rights and benefits he is entitled to receive under this Agreement including any right to a Bonus for the fiscal year in which the termination occurs, but excluding any benefits in which he has a vested right at that time to receive including any vested benefits or rights under the SERP or SERP II.

  • The Company shall continue to use the SERP Trust for the purpose of informally funding both the SERP and SERP II.

  • The SERP II, effective as of the first day of September, 1995, has been amended on August 24, 1998.

  • No participant in SERP I, SERP II or SERP III may receive any Monthly Retirement Income benefit under this Section 4.01 if the participant's Attained Age Upon Termination is less than 60, unless otherwise approved by the Compensation Committee (other than a participant whose consent to the amendment adding this requirement to the Plan is required, and who has not so consented).

Related to SERP II

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

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

  • 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.

  • 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;

  • 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.

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

  • 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.

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

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

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

  • 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.

  • 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.

  • 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.

  • Separation Plan means the Company’s Separation Plan Amended and Restated Effective August 13, 2006, as may be amended from time to time or any successor plan, program, arrangement or agreement thereto.

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

  • 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 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;

  • Deferral Plan means the UGI Corporation 2009 Deferral Plan.

  • Executive Severance Plan means the Company’s Senior Executive Employee Severance Pay Plan, as in effect from time to time.

  • SIP means Session Initiation Protocol.

  • Severance Plan means any severance plan maintained by the Company that is applicable to the Participant.

  • 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.