Benefits Tables Sample Clauses

Benefits Tables. The following tables describe the benefits available to the Director, or the Director’s Beneficiary, upon the occurrence of certain events. Capitalized terms have the meanings given them in Article 3. Except for death, each benefit described is in lieu of any other benefit herein.
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Benefits Tables. The following tables describe the benefits available to the Executive, or the Executive’s Beneficiary, upon the occurrence of certain events. Capitalized terms have the meanings given them in Article 3. Except for payments remaining at death (if any), each benefit described is in lieu of any other benefit herein. Table A: Retirement Benefit Normal Retirement Age (“NRA”) = 65 Separation from Service without Cause following Normal Retirement Age $60,000 per year Monthly installments Payments begin: 1st day of the month following Separation from Service Duration: 10 years Table B: Early Retirement Benefit Early Retirement Age (“ERA”) = 62 Separation From Service Without Cause on or after age 62 but before age 63 $42,000 per year Equal monthly installments over ten years Payments begin: 1st day of the month following Separation from Service Duration: 10 years Separation From Service without Cause on or after age 63 but before age 64 $48,000 per year Equal monthly installments over ten years Payments begin: 1st day of the month following Separation from Service Duration: 10 years Separation From Service without Cause on or after age 64 but before Normal Retirement Age $54,000 per year Equal monthly installments over ten years Payments begin: 1st day of the month following Separation from Service Duration: 10 years Table C: Benefit Available Prior to Early Retirement Voluntary Separation from Service, including termination for Disability Vested Accrued Liability Balance, as of Separation from Service Equal monthly installments over ten years Payments begin: 1st day of the month following Separation from Service Duration: 10 years Involuntary Separation from Service Without Cause Vested Accrued Liability Balance, as of Separation from Service Equal monthly installments over ten years Payments begin: 1st day of the month following Separation from Service Duration: 10 years Separation from Service Without Cause following Change in Control $60,000 per year Equal monthly installments over ten years Payments begin: 1st day of the month coincident with or following attainment of Normal Retirement Age
Benefits Tables. The following tables describe the benefits available to the Executive, or the Executive’s Beneficiary, upon the occurrence of certain events. Capitalized terms have the meanings given them in Article 3. Each benefit described is in lieu of any other benefit herein, except as expressly stated otherwise. Table A: Retirement Benefit Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Separation from Service following attainment of age 65 while in the employment of the Bank $98,039.00 per year Equal monthly installments Payments begin: 30 days following Separation from Service Duration: 180 months Table B: Benefit Available Prior to Retirement Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Separation from Service (voluntary or involuntary, except for Cause) prior to age 65 Vested portion of the Accrued Liability Balance, as of Separation from Service, according to the following vesting schedule: 10% per year until 100% vested after 10 Years of Service As elected: X Lump sum or ¨ Equal monthly installments Payment begins (elect one only): X 30 days following Separation from Service ¨ Upon attaining age 65*** If installments, duration: [check one box only]: ¨ 36 months ¨ 60 months ¨ 120 months Change in Control prior to age 65 100% of the *present value of the full Table A Retirement Benefit, as if Executive had attained the age of 65 in the employment of the Bank** As elected: X Lump sum or ¨ Equal monthly installments Payment begins (elect one only): X 30 days following Change in Control ¨ Upon attaining age 65*** If installments, duration: [check one box only]: ¨ 36 months ¨ 60 months ¨ 120 months The First, a National Banking Association Supplemental Executive Retirement Agreement Table B (Cont.) Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Disability prior to age 65 100% of the Accrued Liability Balance, calculated as of the date of Disability As elected: X Lump sum or ¨ Equal monthly installments Payment begins (elect one only): X 30 days following Disability ¨ Upon attaining age 65*** If installments, duration: [check one box only]: ¨ 36 months ¨ 60 months ¨ 120 months *Present Value Calculations shall be done using the discount rate being used to accrue for these benefits at the time of Change in Control **If the Bank is under a regulatory order at the time of a Change in Control, the amount of benefit will be reduced to equal the amount available ...
Benefits Tables. The following tables describe the benefits payable to the Executive upon the occurrence of certain events. Capitalized terms have the meanings given them in Article 3. Except for death, each benefit described is in lieu of any other benefit herein.
Benefits Tables. The following tables describe the benefits available to the Executive, or the Executive’s Beneficiary, upon the occurrence of certain events. Capitalized terms have the meanings given them in Article 3. Except for death, each benefit described is in lieu of any other benefit herein. Table A: Retirement Benefit Normal Retirement Date (“NRD”) = November 24, 2040 Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Executive’s Separation from Service following the Normal Retirement Date. Annual benefit equal to $65,000 per year (“Annual Benefit”). Annual Benefit shall be distributed through equal monthly installments representing 1/12th of the Annual Benefit. Payments shall commence on the first day of the month immediately following the month of Executive’s Separation from Service and shall continue for ten (10) years. Table B: Benefit Available Prior to Retirement Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Separation from Service prior to the Normal Retirement Date for reasons other than Separation from Service within twenty-four (24) months following a Change in Control or Separation from Service for Cause. Accrued Liability Balance, as of the last day of the month immediately prior to Executive’s Separation from Service. The Accrued Liability Balance shall continue to accrue earnings at the Discount Rate until all monthly installments are completely distributed. Accrued Liability Balance shall be distributed in equal monthly installments. Payments shall commence on the first day of the month immediately following the Executive’s attainment of their Normal Retirement Date and shall continue for ten (10) years. Change in Control followed within twenty-four (24) months by Executive’s Separation from Service. Annual Benefit as provided in Table A, hereinabove. Annual Benefit shall be distributed through equal monthly installments representing 1/12th of the Annual Benefit. Payments shall commence on the first day of the month immediately following the month of Executive’s Separation from Service and shall continue for ten (10) years. PLUMAS BANK SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT Table C: Death Benefit Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Executive’s death while actively employed with the Bank. Accrued Liability Balance, as of the last day of the month immediately prior to Executive’s death. The Accrued Liability Balance shall continu...
Benefits Tables. The following tables describe the benefits available to Executive, or the Executive’s Beneficiary, upon the occurrence of certain prescribed events. In addition to any other definitions set forth herein, capitalized terms have the meanings given them in Article 3. Table A: Retirement Benefit Normal Retirement Age (“NRA”) = February 4, 2026 Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Separation from Service following 100% Vesting Vested Benefit as of Separation from Service Lump Sum Payment: As determined by the Employer Credit Election Form Table B: Benefit Available Prior to Retirement Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Voluntary Separation from Service Vested Benefit as of Separation from Service Lump Sum Payment: As determined by the Employer Credit Election Form Involuntary Separation from Service Vested Benefit as of Separation from Service Lump Sum Payment: As determined by the Employer Credit Election Form Disability Vested Benefit as of Separation from Service Lump Sum Payment: As determined by the Employer Credit Election Form Death Vested Benefit as of Separation from Service Lump Sum Payment: As determined by the Employer Credit Election Form Benefit Vesting Schedule The Benefit shall be immediately 100% vested.

Related to Benefits Tables

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows:

  • 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.

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Benefits Plans During the Employment Period, You will be eligible to participate in all benefit plans in effect for executives and employees of the Company, subject to the terms and conditions of such plans.

  • Benefits   on In the event of a lay-off of a full-time employee, the Hospital shall pay its share of insured benefits premium up to three (3) months from the end of the month in which the lay-off occurs or until the laid off employee is employed elsewhere, whichever occurs first.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Retiree Medical Benefits If Executive is or would become fifty-five (55) or older and Executive's age and service equal sixty-five (65) and Executive has at least five (5) years of service with the Company within two (2) years of Change in Control, Executive is eligible for retiree medical benefits (as such are determined immediately prior to Change in Control). Executive is eligible to commence receiving such retiree medical benefits based on the terms and conditions of the applicable plans in effect immediately prior to the Change in Control.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • Benefit Eligibility For purposes of the Benefit Plan entitlement, common-law and same sex relationships will apply as defined.

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