CALCULATION OF DEFERRED COMPENSATION BENEFIT Sample Clauses

CALCULATION OF DEFERRED COMPENSATION BENEFIT. The Deferred Compensation Benefit payable to a Participant under the terms of this Plan shall be the same benefit which would be payable to the Participant under the applicable provisions of the Weatxxxxxxx Xxxsion Plan had the compensation considered under that plan for benefit accruals included all compensation paid the Participant in addition to the compensation permitted to be considered for plan purposes, including incentive cash and stock bonuses attributable to the Plan Year in which earned, regardless of when paid, and elective contributions under the Weatxxxxxxx Xxxplemental Savings Plan, and had none of this benefit, so calculated, been subject to any mandatory limitations then applicable to it under the Code, ERISA or any other federal statute which now limits or will in the future limit benefits payable from that Plan (by way of illustration but not limitation, FOR EXAMPLE, the limitation on compensation set out in Section 401(a)(17) of the Code or the Section 415 limitation on benefits permitted to be paid by a qualified plan) reduced by the actual benefit paid under the Weatxxxxxxx Xxxsion Plan as subjected to those same limitations. In computing the Deferred Compensation Benefit and the benefit payable under the Weatxxxxxxx Xxxsion Plan, the same actuarial assumptions required by the definition of Accrued Benefit shall be used both in the calculation of the benefit and any additional assumptions necessary because of an election of form or time of consummation of benefits.
Sample 1
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Related to CALCULATION OF DEFERRED COMPENSATION BENEFIT

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

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

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • 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.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • 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. .

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Termination Benefits (a) If Executive’s employment is voluntarily (in accordance with Section 2(a) of this Agreement) or involuntarily terminated within two (2) years of a Change in Control, Executive shall receive:

  • Change in Control Benefit If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article.

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