Full Benefit Sample Clauses

Full Benefit. If Executive does not experience a separation from service with Park and its affiliates (within the meaning of the Treasury Regulations applicable to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”)) (except for such breaks in service prescribed by law, such as the Family and Medical Leave Act) until the Full Vesting Date (as defined in Exhibit A hereto), then commencing upon the Payment Commencement Date (as defined in Exhibit A hereto), Park shall pay to Executive the Full Benefit (as defined in Exhibit A hereto) until Executive’s death, with such Full Benefit to be payable annually beginning on the Payment Commencement Date and on the first business day on or immediately after each anniversary of the Payment Commencement Date and thereafter until Executive’s death.
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Full Benefit. If the Executive remains employed by the Bank or an affiliate thereof until or after the Full Vesting Date (as defined in Exhibit A hereto), then, commencing upon the Payment Commencement Date (as defined in Exhibit A hereto), and continuing on the first business day of each month thereafter until a total of 180 payments have been made to the Executive, the Bank shall pay to the Executive an amount equal to one-twelfth (1/12) of the Full Benefit (as defined in Exhibit A hereto).
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Full Benefit. The Employee shall be eligible to receive a Full Benefit, as defined in Section 5.1 of the Plan, provided that the Employee (i) is at least 56 years old and has participated in the Plan for at least ten (10) years, and (ii) remains in the active and continuous employ of the Corporation until he is at least 56 years old. Plan participation begins with the effective date of the original Agreement. The Employee shall commence to receive his Full Benefit on the “Benefit Commencement Date” as defined in the Plan.
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Full Benefit. If Executive does not experience a Separation from Service (except for such breaks in service prescribed by law, such as the Family and Medical Leave Act, or as otherwise agreed in writing expressly authorized by the Board of Directors of the Bank (for a period not to exceed six (6) months)) (as herein defined) until the ‘Full Benefit Date’ (as defined in Exhibit A attached hereto), then upon the Payment Commencement Date (as defined in Exhibit A attached hereto), the Bank shall pay to Executive the Full Benefit (as defined in Exhibit A attached hereto) annually for twenty (20) years, payable in monthly installments beginning on the first business day of the first calendar month after the Payment Commencement Date and on the first business day of each month thereafter until (but including) the twentieth (20th) anniversary of the Payment Commencement Date. For purposes of this Agreement, the phrase ‘Separation from Service’ shall be deemed to occur only if either (i) Executive has ceased to perform any services for the Bank and all affiliated companies that, together with the Bank, constitute the ‘service recipient’ within the meaning of Section 409A of the Internal Revenue Code (‘Code’) and the regulations thereunder (collectively, the ‘Service Recipient’) or (ii) the level of bona fide services Executive performs for the Service Recipient after a given date (whether as an employee or as an independent contractor) permanently decreases (excluding a decrease as a result of military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six (6) months, or if longer, so long as Executive retains a right to reemployment with the Service Recipient under an applicable statute or by contract) to no more than forty percent (40%) of the average level of bona fide services performed for the Service Recipient (whether as an employee or an independent contractor) over the immediately preceding 36-month period (or the full period of service if Executive has been providing services to the Service Recipient for less than 36 months). If, at the written request of the Bank, the Executive continues full time employment with the Bank beyond attainment of age sixty-five (65) before experiencing a Separation from Service (unless due to discharge For Cause), then for each full year of service completed after the attainment of age sixty-five (65), the Full Benefit will increase by the Annual COLA Percentage (as defined in Exhibit A her...
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Full Benefit. If Executive’s employment terminates for any reason other than pursuant to Section 6(d) (Cause) , the Enhanced SERP shall be governed by the terms of the Plan in all respects except that the Benefit Amount (defined in Section 1.3 of Plan) shall equal the New Benefit Amount (as hereinafter defined).
Sample 1
Full Benefit. If Executive does not experience a separation from service with the Bank and its affiliates (within the meaning of Proposed Treasury Regulations Section 1.409A-1(h)) (except for such breaks in service prescribed by law, such as the Family and Medical Leave Act) until the Full Vesting Date (as defined in Exhibit A hereto), then commencing upon the Payment Commencement Date (as defined in Exhibit A hereto), Bank shall pay to Executive the Full Benefit (as defined in Exhibit A hereto) annually for twenty (20) years, payable in monthly installments beginning on the first business day of the first calendar month after the Payment Commencement Date and on the first business day of each month thereafter until (but including) the twentieth (20th) anniversary of the Payment Commencement Date.
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Full Benefit. While Either the Annuitant or the Second Annuitant is Alive, with or without a 10-, 15- or 20-Year Guaranteed Period. The full monthly income will continue as long as either the Annuitant or the Second Annuitant is alive. If you choose a guaranteed period and Your Teachers Personal Annuity Contract the Annuitant and the Second Annuitant both die before the end of the period chosen, the full monthly income will continue to the end of that period. Two-thirds Benefit After the Death of Either the Annuitant or the Second Annuitant, with or without a 10-, 15- or 20-Year Guaranteed Period. At the death of either the Annuitant or the Second Annuitant, monthly payments equal to two-thirds of the amount that would have been paid if both had lived will continue for the life of the survivor. If you choose a guaranteed period and the Annuitant and the Second Annuitant both die before the end of the period chosen, monthly payments equal to two- thirds of the amount that would have been paid if both had lived will continue to the end of that period. Half Benefit After the Death of the Annuitant, with or without a 10-, 15- or 20- Year Guaranteed Period. The full monthly income will continue as long as the Annuitant is alive. If the Second Annuitant survives the Annuitant, monthly payments equal to one-half the amount that would have been paid if the Annuitant had lived will continue for the life of the Second Annuitant. If you choose a guaranteed period and the Annuitant and the Second Annuitant both die before the end of the period chosen, monthly payments equal to one-half the amount that would have been paid if the Annuitant had lived will continue to the end of that period.
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Full Benefit. Otherwise enable NGC to obtain the full benefit of the provisions of this Deed.
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Full Benefit. The Employee is entitled to receive the full benefit listed on the "Benefit Supplement" attached hereto. The annual amount as stated in the Benefit Supplement shall be paid in equal installments on a monthly basis and for the term of years as set forth within the Benefit Supplement. Payment of the benefits is conditioned upon the officer not acting in any employment or policy-making capacity for any business enterprise which competes with Bank, nor engaging in any activity involving competition with Bank after termination of employment. In the event of violation of this provision, all future payments shall be canceled and discontinued. The Board of Directors may waive these conditions.
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Related to Full Benefit

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Net Benefit A Net Benefit for a particular fund or, in the case of a multi-class fund, a class results when aggregate Benefits exceed aggregate Losses (i.e., net redemptions on a day the fund’s or class’s NAV is understated or net subscriptions on a day the fund’s or class’s NAV is overstated) during the Error Period.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • METHOD OF PAYMENT OF ACCRUED BENEFIT The Advisory Committee will apply Section 6.02 of the Plan with the following modifications: (Choose (a) or at least one of (b), (c), (d) and (e))

  • Retirement Benefits Upon the occurrence of the Qualifying --------- ------------------- Date (except as otherwise specifically provided herein), the Bank will pay to the Director $671 per month for a continuous period of 120 months. Such continuous monthly installment payments shall commence on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Qualifying Date shall occur. In the event that the Director should die after becoming entitled to receive such installment payments but before all such payments have been made, the Bank will pay all remaining installment payments to such beneficiary or beneficiaries as the Director has designated in writing to the Bank (the "Beneficiaries"). In the event of the death of the last living Beneficiary before all remaining installment payments have been made, the balance of any payments which remain unpaid at such Beneficiary's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, or if no Beneficiary survives the Director, any payments remaining unpaid at the Director's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the Director's estate.

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

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