SERP Benefits. If (i) you are an employee on the date which is 90 days following the Change in Control or (ii) your employment terminates prior to such date due to a Qualified Termination (as defined below), you shall be deemed fully vested under the Company's Supplemental Executive Retirement Plan, effective as of November 1, 1996 (the "Covered Top-Hat Plan"). The benefit to which you shall be entitled under any Covered Top-Hat Plan shall be determined using:
SERP Benefits. Except as provided in Article 5 or elsewhere herein, the following SERP Benefits are available under the Agreement:
SERP Benefits. Section 1(s)(ii)(G) of the Retention Agreement is hereby amended to read in its entirety as follows:
SERP Benefits. During the Employment Term, the Executive shall be entitled to participate in the Summit Global Logistics, Inc. Supplemental Executive Retirement Plan (the "SERP") in accordance with the terms thereof. Such eligibility to participate in the SERP shall commence effective as of the later of the Effective Date or the effective date of the SERP. The SERP is attached as Exhibit G hereto.
SERP Benefits. On the Termination Date, the Executive shall become vested in the benefits accrued by the Executive under the Terra Industries Inc. Excess Benefit Plan (the “SERP”) as of the Termination Date and shall become entitled to payment of benefits in accordance with the terms of the SERP, as in effect from time to time. For purposes of computing the Executive’s accrued benefits under the SERP, the Company shall credit the Executive with two (2) years of participation in the SERP and two (2) years of age in addition to the actual years of participation and age credited to the Executive under the SERP as of the Termination Date.
SERP Benefits. Section 7(b)(ii)G of the Employment Agreement is hereby amended to read in its entirety as follows:
SERP Benefits. (a) Commencing as of January of the first calendar year beginning after the last day of the Severance Period, Executive will be eligible to receive a retirement benefit in the form of a single life annuity in an annual amount equal to the annual benefit that Executive would have been eligible to receive under the supplemental executive retirement plan (in effect as of February 1, 2000) of his immediate prior employer (the "SERP"), including any applicable Offsets (as defined in the SERP), if: (a) he had remained employed and covered by the SERP until April 30, 2007, and (b) his Earnings (as defined under the SERP) with such prior employer had increased at the rate of five percent per annum; provided, however, that such amount will be reduced by (X) the percentage specified under the SERP if Executive receives such retirement benefit prior to his attainment of age 62 and (Y) the actuarial equivalent of any amounts that Executive is entitled to receive that are (i) attributable to OMG Contributions (as defined in the OMG Profit-Sharing and Retirement Savings Plan (the "Profit-Sharing Plan") or any successor thereto) made to the Profit-Sharing Plan or (ii) payable under the Benefit Restoration Plan or any other supplemental pension or severance plan, program or arrangement maintained by OMG.
SERP Benefits. During the Employment Period, the Executive shall continue to accrue the benefits under the Senior Executive Retirement Agreement, dated ____________, between the Company and the Executive (the "SERP Agreement"). Pursuant to Section 2(b) of the SERP Agreement, the provisions of this Agreement, including Section 1(b) above, constitute an agreement between the Company and the Executive to extend the Executive's employment past the "Normal Retirement Date" (as defined in the SERP Agreement) if the Executive's employment extends beyond such date. In addition, the Company hereby agrees that the "Committee" (as defined in the SERP Agreement) has approved and the Executive may elect a lump sum payment option under Section 5 of the SERP Agreement.]
SERP Benefits. This Section 5(c)(ii) is an “Outside Agreement” under Section 4.6 of the Supplemental Executive Retirement and Life Plan of Avon Products, Inc. (the “SERP”). Capitalized terms used in this Section 5(c)(ii) but not defined herein shall have the meaning set forth in the SERP. For purposes of this Section 5(c)(ii), “Severance Period” shall mean the period of time beginning on the day after the Executive’s Separation Date and continuing through the last day on which the Executive receives a payment under Section 5(b) above, if any, but in no event later than May 31, 2009. Except with the written consent of the Executive, no amendment to the SERP after March 23, 2007 will reduce the amount of the SERP benefits payable to the Executive (or his Beneficiary or Dependent Children) under the terms of this Section 5(c)(ii). In order to comply with Internal Revenue Code Section 409A, this agreement makes certain changes to the SERP and, for purposes of Section 409A compliance, this agreement will be deemed to have amended the non-conforming provisions of the SERP. To the extent that the provisions of the SERP are inconsistent with the terms of this agreement, the terms of this agreement will control. By entering into this agreement, the Executive (I) acknowledges that his SERP benefits will be payable in accordance with the provisions of this agreement, (II) consents to the amendments to the SERP contained in this agreement, and (III) waives any rights to benefits that the Executive otherwise may have under Section 10 of the SERP by virtue of the amendments contained in this agreement. The Executive also waives any rights that he may have under the rabbi trust agreement that may provide a source of SERP benefits. By virtue of receiving benefits under the SERP, the Executive will not be entitled to any retirement benefit under the Benefit Restoration Pension Plan of Avon Products, Inc. (the “BRP”) and hereby waives any right that he may otherwise have to a benefit under the BRP.
SERP Benefits. In addition to the other benefits provided in this Section 3, the Employee shall be entitled to the following SERP benefits:
