Eligibility for Supplemental Pension Benefit on Retirement Sample Clauses

Eligibility for Supplemental Pension Benefit on Retirement after Age 65 If the Retirement of the Executive occurs after the Executive has attained age 65, the Executive will be entitled to receive an annual Supplemental Pension Benefit under this Agreement in an amount equal to seventeen and one-half percent (17.5%) of the Executive's Base Annual Salary. This Supplemental Pension Benefit will be paid by the Corporation to the Executive each year for fifteen (15) years. The amount to be paid each year will be paid in equal monthly installments beginning on the first day of the month, following the date of the Retirement of the Executive, and on the first day of each month thereafter.
Sample 1
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Eligibility for Supplemental Pension Benefit on Retirement after Age 55 If the Retirement of the Executive occurs after the Executive has attained age 55 but prior to attaining age 65, the Executive will be entitled to receive an annual Supplemental Pension Benefit under this Agreement in an amount equal to seventeen and one-half (17.5%) percent of the Executive's Base Annual Salary, multiplied by the applicable percentage set forth in Appendix A and multiplied by the percentage set forth in Appendix B, if applicable. This Supplemental Pension Benefit will be paid by the Corporation to the Executive each year for fifteen (15) years. The amount to be paid each year will be paid in equal monthly installments beginning on the first day of the month following the date of the Retirement of the Executive and on the first day of each month thereafter.
Sample 1

Related to Eligibility for Supplemental Pension Benefit on Retirement

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • 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 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").

  • 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.

  • 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.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, the Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time to time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, the Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time to time by the Company for the benefit of its senior executives.

  • 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.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • 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. .

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

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