Adjustment of Future Supplemental Retirement Benefits Sample Clauses

Adjustment of Future Supplemental Retirement Benefits. Effective as of January 1, 1998, unless otherwise determined by the Company, the Executive shall be entitled to receive the value of the undistributed Supplemental Executive Retirement Benefit computed under the Agreement, but only to the extent that the Executive would be entitled to such benefit upon Termination of Service pursuant to section 3.1. The value of the Supplemental Retirement Benefit otherwise due to the Executive under the terms of this Agreement (taking into account any increased service 19 credit determined pursuant to section 5.6 below, to the extent applicable) shall be appropriately reduced (but not below zero) by the annual accrued benefit equivalent of the value of the Total Funded Benefit as of the date hereof. In this regard, the Committee, in is discretion, shall determine an equitable adjustment to the benefits payable to the Executive under the Agreement to ensure that the aggregate value of distributed benefits do not exceed the value of benefits the Executive would have been entitled to receive had no distributions been made prior to such Executive's Termination of Service.
Sample 1
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Adjustment of Future Supplemental Retirement Benefits. Effective as of January 1, 1998, unless otherwise determined by the Company, the Executive shall be entitled to receive the value of the undistributed Supplemental Retirement Benefit computed under the Agreement, but only to the extent that the Executive would be entitled to such benefit upon Termination of Service pursuant to section 3.1; provided, however that such undistributed Supplemental Retirement Benefit shall not include any cost of living adjustment relating to service in 1996 and 1997, that might otherwise have been provided pursuant to section 3.4. The value of the Supplemental Retirement Benefit otherwise due to the Executive under the terms of this Agreement (taking into account any increased service credit determined pursuant to section 5.6 below, to the extent applicable, but excluding any cost of living adjustment relating to service in 1996 and 1997 that might otherwise have been provided pursuant to section 3.4) shall be appropriately reduced (but not below zero) by the annual accrued benefit equivalent of the value of the Total Funded Benefit as of the date hereof. In this regard, the Committee, in its discretion, shall determine an equitable adjustment to the benefits payable to the Executive under the Agreement to ensure that the aggregate value of distributed benefits do not exceed the value of benefits the Executive would have been entitled to receive had no distributions been made prior to such Executive's Termination of Service.
Sample 1

Related to Adjustment of Future Supplemental Retirement Benefits

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • Supplemental Retirement Benefit In addition to the foregoing, Executive shall be eligible to participate in the Supplemental Executive Retirement Plan maintained by Cleco Utility Group Inc. or such other supplemental retirement benefit plans which the Company or its Affiliates may adopt, from time to time, for similarly situated executives (the "Supplemental Plan").

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Supplemental Benefits The employer shall maintain a “Supplemental Unemployment Benefits Plan” pursuant to the Employment Insurance Act and Regulations. The employer shall make amendments as appropriate to ensure that the Plan provides the maximum permissible benefits in conjunction with Article 17.03.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • Supplemental Compensation Pursuant to Section 7 of the Agreement, Supplemental Compensation will be paid as follows:

  • 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.

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

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