Employee Retirement Plans. If applicable law and the provisions of the applicable plan permit continued participation, Executive will be entitled to continue to participate, consistent with past practices, in the tax qualified employee retirement plans maintained by the Company in effect as of Executive's date of termination, including, to the extent such plans are still maintained by the Company, the Interface Flooring Systems, Inc. Retirement Plan and Trust, and the Interface, Inc. Savings and Investment Plan (the "Savings Plan"). Executive's participation in such retirement plans shall continue for the Continuation Period (at the end of which Executive will be considered to have terminated employment within the meaning of the plans), and the compensation payable to Executive under subsections (c)(i) and (ii) above shall be treated (unless otherwise excluded under the terms of such retirement plans) as compensation when computing benefits under the plans. For purposes of the Savings Plan, Executive will be credited with an amount equal to the Company's contribution to the plan, assuming Executive had participated in such plan at the maximum permissible contribution level. To the extent permissible under applicable law, Executive shall also be considered fully vested under such plans. If continued participation in any plan is not permitted or if Executive's benefits are not fully vested, the Company shall pay to Executive and, if applicable, Executive's beneficiary, a supplemental benefit equal to the present value on the date of termination of employment (calculated as provided in each plan) of the excess of (A) the benefit Executive would have been paid under such plan if Executive had continued to be covered for the Continuation Period (less any amounts Executive would have been required to contribute) and been treated as fully vested, over (B) the benefit actually payable under such plan. The Company shall pay such additional benefits (if any) in a lump sum within 30 days of the date of termination.
Employee Retirement Plans. To the extent permitted by the applicable plan, the Executive will be fully vested in and will be entitled to continue to participate, consistent with past practices, in all employee retirement plans maintained by the Company in effect as of his date of termination. The Executive's participation in such retirement plans shall continue for a period of thirty (30) months from the date of termination of his employment (at which point he will be considered to have terminated employment within the meaning of the plans) and the compensation payable to the executive under (a) and (b) above shall be treated (unless otherwise excluded) as compensation under the plan. If full vesting and continued participation in any plan is not permitted, the Company shall pay to the executive and, if applicable, his beneficiary, a supplemental benefit equal to the Present Value on the date of termination of employment of the excess of (i) the benefit the Executive would have been paid under such plan if he had been fully vested and had continued to be covered for the 30-month period as if the Executive had earned compensation described under (a) and (b) above and had made contributions sufficient to earn the maximum matching contribution, if any, under such plan (less any amounts he would have been required to contribute), over (ii) the benefit actually payable to or on behalf of the Executive under such plan. For purposes of determining the benefit under (i) in the preceding sentence, contributions deemed to be made under a defined contribution plan will be deemed to be invested in the same manner as the Executive's account under such plan at the time of termination of employment. The Company shall pay such supplemental benefits (if any) in a lump sum.
Employee Retirement Plans. Upon the termination of Executive’s employment, Executive shall no longer actively participate in the tax-qualified employee retirement plans maintained by the Company. However, with respect to any such plans, the Company shall pay to Executive the following amounts:
Employee Retirement Plans. To the extent permitted by the applicable ------------------------- plan, the Executive will be entitled to continue to participate, consistent with past practices, in all employee retirement plans maintained by the Corporation In effect as of his date of termination, including, to the extent such plan is still maintained by the Corporation, The Bank Corporation of Georgia Employees' Retirement Plan. The Executive's participation in such retirement plans shall continue for a period of thirty-six (36) months from his date of termination (at which point he will be considered to have terminated employment within the meaning of the plan) and the compensation payable to the Executive under (a) and (b) above shall be treated (unless otherwise excluded) as compensation under the plan. If continued participation in any plan is not permitted, the Corporation shall pay to the Executive and, if applicable his beneficiary, a supplemental benefit equal to the Present Value of the excess of (I) the benefit the Executive would have been paid under such plan if he had continued to be covered for the 36-month period (less any amounts he would have required to contribute), over (ii) the benefit actually payable under such plan. The Corporation shall pay such additional benefits (if any) in a lump sum or in a series of cash payments, whichever coincides with the payment of benefits under such plan.
Employee Retirement Plans. Neither AISCO nor any AISCO ------------------------- Subsidiary has an employee pension, retirement or benefit plan.
Employee Retirement Plans. To the extent permitted by the applicable plan, Executive will be entitled to continue to participate, consistent with past practices, in all employee retirement and deferred compensation plans maintained by the Company in which Executive participates as of his Date of Termination, including, to the extent such plans are still maintained by the Company, the Xxxxxx 401(k) Plan and the Xxxxxx Supplemental Retirement Savings Plan (Executive acknowledges that the Xxxxxx Retirement Plan and the SERP were frozen effective as of December 31, 2006). Executive’s participation in such plans shall continue for the Severance Period and the compensation payable to Executive under (a) and (b) above shall be treated (unless otherwise excluded) as compensation under the plan as if it were paid on a monthly basis. For purposes of the Xxxxxx 401(k) Plan and the Xxxxxx Supplemental Retirement Savings Plan, Executive will receive an amount equal to the Company’s contributions to the plan, assuming Executive had participated in such plan at the maximum permissible contributions level and the Company had continued to make Matching Contributions and Savings Plus Contributions to such plans for the Severance Period. The Company shall pay such additional amounts in a lump sum within 30 days of Executive’s termination of employment.
Employee Retirement Plans. The Company shall continue to make statutory superannuation contributions during the Continuation Period.
Employee Retirement Plans. The City of Boynton Beach contributes to three single-employer pension plans covering all full-time City employees. City Ordinance establishes the benefit provisions and all other requirements. The pension funds have an independent contracted administrator, and the investments of the fund are administered, managed and operated by its respective Board of Trustees. Currently, all pension funds are audited separately and reports are provided to the City. The defined benefit plans are: General Employees’ Pension Fund Police Officers’ Pension Fund Firefighters’ Pension Fund Participant data as of October 1, 2015 most recent actuarial valuation: • Retirees and beneficiaries receiving benefits 376 120 80 • Terminated vested employees 47 7 1 • Vested current employees 265 83 69
Employee Retirement Plans. If permitted by the applicable retirement plans, you will be entitled to continue to participate in the tax qualified retirement plans maintained by the Company for a period of 24 months from the date of your termination of employment. You will also be considered fully vested in such plans. If continued participation or full vesting is not permited under any such plan, you will be paid a lump sum supplemental benefit equal to the present value of the difference between the benefit you would have received had you participated for the full 24 months and been fully vested and the benefit you actually receive.
Employee Retirement Plans. Executive’s participation in the Xxxxxx 401(k) Plan and Xxxxxx Excess 401(k) Plan shall continue for the Severance Period, the compensation payable to Executive under (a) and (b) above shall be treated (unless otherwise excluded) as compensation under the plan as if it were paid on a monthly basis. For purposes of the Xxxxxx 401(k) Plan and the Xxxxxx Excess 401(k) Plan, he will receive an amount equal to the Company’s contributions to the plans, as though Executive had participated in such plans at the maximum permissible contributions level and the Company had continued to make Matching Contributions and Savings Plus Contributions to such plans for the Severance Period. The Company shall pay to Executive or, if applicable, his beneficiary a supplemental benefit equal to the amount (calculated as provided in the plan) of the excess of (i) the benefit Executive would have been paid under such plan if he had continued to be covered for the Severance Period (less any amounts Executive would have been required to contribute), over (ii) the benefit actually payable under such plan. The Company shall pay such additional amount in a lump sum within 30 days of his termination of employment.
