Deferred Benefits Sample Clauses
The Deferred Benefits clause establishes that certain benefits or payments owed to a party will be postponed until a specified future date or event. In practice, this clause may apply to retirement plans, severance packages, or incentive compensation, where the recipient receives the benefit after meeting certain conditions, such as completing a period of service or reaching a particular age. Its core function is to structure the timing of benefit payments, often to align with long-term incentives, tax planning, or to encourage retention.
Deferred Benefits. “Deferred Benefits” shall mean any severance payments and benefits under this Agreement, and any other severance payments or separation benefits to be paid or provided to the Employee (or the Employee’s estate or beneficiaries) that in each case, when considered together, are considered deferred compensation under Section 409A.
Deferred Benefits. If the Employee voluntarily terminates his employment with the Company before reaching the Retirement Date, but at the time of termination the Employee has completed at least 20 years of Continuous Service, or if the Company terminates the Employee’s employment for other than cause, the Employee will be entitled to a deferred Supplemental Retirement Benefit and Bridge Benefit, payable beginning at the Retirement Date and calculated based on Continuous Service, the YMPE and Average Earnings at the date of termination of employment.
Deferred Benefits. The benefits payable to Participants who are Executive Officers or former Corporate Officers under the terms of Article IV of the Plan and Plan Exhibits B and C.
Deferred Benefits. Any amounts deferred by a Participant pursuant to Paragraph 3, together with the accrued interest thereon from the investment of such amounts in accordance with Paragraph 5 hereof, shall constitute the Deferred Benefits payable hereunder.
Deferred Benefits. Any amounts deferred by a Participant pursuant to Paragraph 3 or Paragraph 4, and cash dividends and cash payable in lieu of a fractional share that are deferred pursuant to Paragraph 5, and any shares deferred by a Participant pursuant to Paragraph 5, as adjusted for stock dividends and splits, shall constitute the deferred benefits ("Deferred Benefits") payable hereunder. Deferred Benefits shall be credited to a notional account ("Account") established for each Participant by the Committee.
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Deferred Benefits. Except as set forth in Schedule 4.14, no Company ----------------- ------------- Employee Plan provides benefits, including death, medical or health benefits (whether or not insured), after an employee's termination of employment, other than (i) continuation coverage required pursuant to Section 4980B of the Code and Part 6 of Title I of ERISA, and the regulation thereunder, and any other applicable law, (ii) death benefits or retirement benefits under any employee pension benefit plan, (iii) life insurance and medical benefits under retiree life insurance and medical plans, (iv) deferred compensation benefits, reflected as liabilities on the books of an Acquired Company, or (v) benefits the full cost of which is borne by the current or former employee (or his beneficiary).
Deferred Benefits. Upon commencement of the Term of Employment, the Company shall credit $250,000 to an account established on Executive's behalf (the "Account"). The Account shall be hypothetically invested in a mutual fund or funds to be designated in writing by Executive (the "Funds") until the Termination Date (as defined in Section 3(a)), and credited or debited with the income, gains or losses of the Fund before the Termination Date. As soon as reasonably practicable after the Termination Date, Executive shall receive a lump sum, cash distribution of the amount credited to the Account as of the Termination Date. Executive shall have no right to receive any amount credited to the Account until the Termination Date and shall be an unsecured creditor of the Company with respect to any amount credited to the Account on his behalf.