Benefits on Termination of Employment. Except as provided in ------------------------------------- Section 2.1 hereof, if the Executive's employment is terminated during the Term of Employment, the Executive shall be entitled to receive the following benefits:
Benefits on Termination of Employment. (a) If a Participant terminates employment prior to Normal Retirement Age, such Participant shall be entitled to receive the vested balance held in his or her account payable at Normal Retirement Age in the normal form, or if elected, in one of the optional forms of payment provided hereunder. If applicable, the Early Retirement Benefit provisions may be elected. Notwithstanding the preceding sentence, a former Participant may, if allowed in the Adoption Agreement, make application to the Employer requesting early payment of any deferred vested and nonforfeitable benefit due.
Benefits on Termination of Employment. (a) If a Participant terminates employment prior to Normal Retirement Age, such Participant shall be entitled to receive the vested balance held in his or her account payable at Normal Retirement Age in the normal form, or if elected, in one of the other forms of payment provided hereunder and by the Employer in the Adoption Agreement. If applicable, the Early Retirement benefit provisions may be elected. Notwithstanding the preceding, a former Participant may, if allowed in the Adoption Agreement, make application to the Employer requesting early payment of any deferred vested and nonforfeitable benefit due.
Benefits on Termination of Employment. On termination of employment, a member may elect to receive a lump sum refund of his required contributions to the Plan made on and after May 1, 1972, with interest, or he may elect to accept a deferred retirement income benefit commencing at his normal retirement date. Such deferred retirement income benefit will be in the amount which can be provided by the sum of the member's own required contributions to the Plan, plus a vested portion of the remainder of the retirement income benefit accrued or granted to him to the date of his termination of employment. In this regard, the vested portion of such remaining retirement income benefit will be equal to 50% after five (5) years for participation in the Plan and the former Plan, scaling up by 10% per year to 100% after ten (10) years of such participation. He will also be entitled to any benefit payable on termination of employment by The Standard Life Assurance Company under the former Plan, with interest accruals from May 1, 1973, augmented by this Plan to equal the rate of interest that applied during the appropriate period. The vesting and locking-in provisions of the Pension Benefits Act of Ontario will, however, apply at all times if termination of employment occurs after a member has completed ten (10) years of continuous service and has attained age forty-five (45).
Benefits on Termination of Employment. (a) In the event of termination of the Executive's employment pursuant to Sections 3(d) [Executive-Good Reason] or 3(e) [Company-Without Cause] above, the Company shall no longer be obligated to make any payments of any kind to the Executive under this Agreement except as follows: (i) the Company will continue to pay the Executive's then current Base Salary and Bonus for a period of two (2) years from the date of termination, reduced in the second year to the extent of compensation received by the Executive from other employment or self-employment and (ii) the Company will, for a period equal to the shorter of (x) two (2) years or (y) until the Executive shall commence other employment or self-employment, continue to provide to the Executive Insurance Benefits comparable to the insurance provided for executives of the Company generally during such period, and upon substantially similar terms and conditions as shall be provided for executives generally. If under any of the terms of any group policy maintained by the Company such coverage is not properly obtainable, the Executive may elect to receive the amount of premiums that the Company would have paid on his account, or to assume the risk of a denial of coverage by any such carrier.
Benefits on Termination of Employment. 8:01 A Member whose employment terminates before Retirement Date and who on the date of termination has been in the service of the Company for a continuous period of ten years shall receive a deferred life annuity payable from Normal Retirement Date calculated in respect of Credited Service at the Date of Termination.
Benefits on Termination of Employment. (a) If a Participant terminates employment prior to Normal Retirement Age, such Participant shall be entitled to receive the vested balance held in his or her account payable at Normal Retirement Age in the normal form, or if elected, in one of the other forms of payment provided hereunder. If applicable, the Early Retirement benefit provisions may be elected. Notwithstanding the preceding, a former Participant may, if allowed in the Adoption Agreement, make application to the Employer requesting early payment of any deferred vested and nonforfeitable benefit due. If a Participant terminates employment, and the value of the Participant’s Vested Account Balance is not greater than $5,000, the Participant may receive a lump sum distribution of the value of the entire vested portion of such account balance and the nonvested portion will be treated as a forfeiture. The Plan Administrator shall follow a consistent and nondiscriminatory policy, as may be established, regarding immediate cash-outs of Vested Account Balances.
Benefits on Termination of Employment. (a) On termination of employment prior to January 1, 1988, a member may elect to receive a lump sum refund of his/her required contributions to the Plan, with Interest, or he/she may elect to accept a deferred retirement income benefit commencing at his/her normal retirement date. Such deferred retirement income benefit will be in the amount which can be provided by the sum of the member's own required contributions to the Plan, plus a vested portion of the remainder of the retirement income benefit accrued or granted to him/her to the date of his/her termination of employment. In this regard, the vested portion of such remaining retirement income benefit will be equal to 50% after five (5) years for participation in the Plan and the Former Plan, scaling up by 10% per year to 100% after ten (10) years of such participation. He/she will also be entitled to any benefit payable on termination of employment by The Standard Life Assurance Company under the Former Plan. The vesting and locking-in provisions of the Pension Benefits Act of Ontario will, however, apply at all times if termination of employment occurs after a member has completed ten (10) years of continuous service and has attained age 45.
Benefits on Termination of Employment. On termination of employment, an employee may receive a return of his own contributions with interest. If employment is terminated on or after April 21, 1988 and after completion of two (2) years of continuous service, an employee may elect to leave his contributions in the Plan and receive a deferred pension from his normal retirement date equal to his pension accrued to his date of termination.
Benefits on Termination of Employment. 1. This article only applies if you were born before 1 January 1963 (57 years of age or older) and were employed on 31 December 2019.
