Additional Benefits Information Clause Samples

Additional Benefits Information. For benefits and pension plan purposes, you will be credited four (4) additional years of service for every year of actual service. You were previously provided a summary of the broader range of compensation and benefits related to this offer. Items described in this letter and that benefits summary, are subject to the terms, conditions and requirements of our existing benefit or pension plans and programs. The terms of the benefit or pension plans may be amended or terminated from time-to-time in the future. In the event that the Company terminates your employment for any reason other than 'for Cause' during the first two years of your employment, the Company will pay you the equivalent of two years base salary plus the equivalent of two years of your annual incentive target as a separation payment. Should you leave Ford under these circumstances and receive this separation payment, it is made on the condition that you do not join or otherwise perform work for a competitor for two years after the date of your termination and also sign and deliver an acceptable general claims release. For the purposes of this offer letter, the term 'for Cause' is described as: