Common use of Special Retirement Benefits Clause in Contracts

Special Retirement Benefits. Xx. Xxxxx or his beneficiaries shall be paid special retirement benefits under the MoneyGram Supplemental Pension Plan (“SERP”) as and when Xx. Xxxxx or such beneficiaries become entitled to benefits under the SERP, equal to the excess of (i) the retirement benefits that would be payable to Xx. Xxxxx or such beneficiaries under the SERP if Xx. Xxxxx’x employment had continued through March 24, 2011 (the “Severance Period”), assuming all of his accrued benefits under the SERP (including those attributable to the Severance Period) were fully vested, and his final average compensation was equal to the Deemed Final Average Compensation (as defined in the Severance Plan) over (ii) the total benefits actually payable to Xx. Xxxxx or his beneficiaries under the SERP. All such benefits will be payable pursuant to the terms and conditions of the SERP, and no additional enhancements will be made to Xx. Xxxxx’x SERP benefits under the terms of the SERP or otherwise;

Special Retirement Benefits. Xx. Xxxxx Xxxxxx or his beneficiaries shall be paid special retirement benefits under the MoneyGram Supplemental Pension Plan (“SERP”) as and when Xx. Xxxxx Xxxxxx or such beneficiaries become entitled to benefits under the SERP, equal to the excess of (i) the retirement benefits that would be payable to Xx. Xxxxx Xxxxxx or such beneficiaries under the SERP if Xx. Xxxxx’x Xxxxxx’x employment had continued through March 24, 2011 (the “Severance Period”), assuming all of his accrued benefits under the SERP (including those attributable to the Severance Period) were fully vested, and his final average compensation was equal to the Deemed Final Average Compensation (as defined in the Special Severance Plan) over (ii) the total benefits actually payable to Xx. Xxxxx Xxxxxx or his beneficiaries under the SERP. All such benefits will be payable pursuant to the terms and conditions of the SERP, and no additional enhancements will be made to Xx. Xxxxx’x Xxxxxx’x SERP benefits under the terms of the SERP or otherwise;.

Special Retirement Benefits. Xx. Xxxxx or his her beneficiaries shall be paid special retirement benefits under the MoneyGram Supplemental Pension Plan (“SERP”) as and when Xx. Xxxxx or such beneficiaries become entitled to benefits under the SERP, equal to the excess of (i) the retirement benefits that would be payable to Xx. Xxxxx or such beneficiaries under the SERP if Xx. Xxxxx’x employment had continued through March 24, 2011 (the “Severance Period”), assuming all of his her accrued benefits under the SERP (including those attributable to the Severance Period) were fully vested, and his her final average compensation was equal to the Deemed Final Average Compensation (as defined in the Special Severance Plan) over (ii) the total benefits actually payable to Xx. Xxxxx or his her beneficiaries under the SERP. All such benefits will be payable pursuant to the terms and conditions of the SERP, and no additional enhancements will be made to Xx. Xxxxx’x SERP benefits under the terms of the SERP or otherwise;.

Special Retirement Benefits. Xx. Xxxxx Xxxx or his beneficiaries shall be paid special retirement benefits under the MoneyGram Supplemental Pension Plan (“SERP”) as and when Xx. Xxxxx Xxxx or such beneficiaries become entitled to benefits under the SERP, equal to the excess of (i) the retirement benefits that would be payable to Xx. Xxxxx Xxxx or such beneficiaries under the SERP if Xx. Xxxxx’x Xxxx’x employment had continued through March 24, 2011 (the “Severance Period”), assuming all of his accrued benefits under the SERP (including those attributable to the Severance Period) were fully vested, and his final average compensation was equal to the “Deemed Final Average Compensation Compensation” (as defined in the Special Severance Plan) over (ii) the total benefits actually payable to Xx. Xxxxx Xxxx or his beneficiaries under the SERP. All such benefits will be payable pursuant to the terms and conditions of the SERP, and no additional enhancements will be made to Xx. Xxxxx’x Xxxx’x SERP benefits under the terms of the SERP or otherwise;.