Supplemental Pension Benefits. If Employee's employment shall continue until June 30, 1999, he shall be entitled to a monthly pension benefit commencing July 1, 1999 equal to $20,000.00, which shall be payable in the form of a joint and 50% survivor annuity -- i.e., the monthly pension shall be $20,000.00 during Employee's lifetime, and should the spouse to whom he was legally married on July 1, 1999 survive him, she will be paid a monthly annuity for her life of $10,000.00. Such amounts shall include any amounts to which the Employee and such surviving spouse may be entitled under any qualified defined benefit pension plan maintained by the Employer and any unfunded supplemental defined benefit pension plan maintained by the Employer. To the extent that Employee is covered by a plan or plans described in the preceding sentence, he shall make all such elections and file all such papers as the Employer shall require so that benefits under such plans shall be payable in the form and at the time specified in the first sentence of this Section 4. To the extent that the benefits specified under this Section 4 exceed the benefits payable under such plans, any and all such benefits shall be an unfunded obligation of the Employer as to which the Employee and any person claiming through the Employee shall be merely a general unsecured creditor of the Employer; provided that the Employer shall cause this benefit to be covered by the "rabbi" trust which it maintains with respect to other executive benefits. If Employee's employment is terminated prior to June 30, 1999, under the rules of Section 1.(a) hereof, he shall be entitled to the benefits described in the first paragraph of this Section 4, commencing on the first day of the first calendar month commencing after the date that his employment is so terminated except that the number set forth in the schedule below shall be substituted for $20,000.00 (and one-half of such number shall be substituted for $10,000.00).
Supplemental Pension Benefits. 4.1 An Eligible Employee shall be entitled to receive Supplemental Pension Benefits which shall be calculated and paid in accordance with the provisions of this Article IV.
Supplemental Pension Benefits. During the term of this Agreement, Executive shall continue participation in Employer’s Supplemental Executive Pension Plan, as amended (the “SEPP”), and Employer shall not amend the SEPP in a manner adverse to Executive without Executive’s prior written consent.
Supplemental Pension Benefits. Commencing on December 1, 2001, ----------------------------- Executive shall be paid a monthly supplemental pension benefit from Xxxxxx as described in this Paragraph 2. The monthly supplemental pension benefit shall be Two Thousand Dollars ($2,000.00) which shall be paid commencing December 1, 2001 and continuing on the first day of each month thereafter for a period which is 120 months, set period measured from the Executive's Consultancy Commencement Date.
Supplemental Pension Benefits. Executive shall be entitled to receive from the Company a supplemental retirement benefit (the "Supplemental Retirement Benefit") as described in Section 3 of the Senior Officer Excess Benefit Agreement (the "Excess Benefit Agreement") attached as Exhibit A to this Agreement, payable upon the terms and conditions set forth in such Excess Benefit Agreement. All benefits provided under the Excess Benefit Agreement shall be taken into account in determining the Company's compliance with the requirements of this Agreement.
Supplemental Pension Benefits. Effective May 1, 1983, an employee who retires at normal retirement date and who has completed at least thirty (30) years of credited service will be entitled to a supplementary monthly pension, if such supplement is necessary, sufficient to increase the sum of his accrued Pension outlined in Section 7 plus his Canada Pension then in effect to one thousand and fifty dollars ($1,050.00) per month. An employee who retires at his normal retirement date with less than thirty (30) years credited services will receive the proportionate pension, i.e. n/30 x ($1,050.00 - C.P.P.) accrued Pensions in accordance with the existing Plan, where "n" equals the number of year credited service. If the employee is eligible to receive any Canada Pension Plan benefits and does not apply for or loses part or all of such benefits through delay in applying for them, by earnings while eligible for such benefits, or other act or failure to act, the employee shall be deemed to be in receipt of such benefits for purposes of calculating the amount of any supplement. The supplement pensions calculated in accordance with the above provisions are only payable during the lifetime of the employee, and will remain constant during his lifetime.
Supplemental Pension Benefits. Executive shall be entitled to an aggregate pension benefit, payable in the form of a 50% joint and survivor annuity, of $3,000,000 per annum commencing as of April 1, 2001. Such pension benefit amount shall be inclusive of all amounts to which Executive is entitled under all qualified and nonqualified defined benefit pension plans or arrangements sponsored by the Company or any of its Affiliates, including without limitation the Personal Pension Account Plan and the Supplemental Personal Pension Account Plan. To the extent permitted under the applicable pension plans, Executive may elect to receive such pension amount in any other actuarially equivalent manner or to defer receipt thereof. To the extent that the pension benefit provided by this paragraph exceeds the pension benefit to which Executive would otherwise be entitled, payment of such excess shall be made in accordance with the provisions of the Supplemental Executive Retirement Plan. Executive will execute such forms as may be appropriate under such plans to effect the foregoing payments.
Supplemental Pension Benefits. (a) If the Executive is in the Company's employ on January 1, 1999, then, thereafter upon termination of the Executive's employment with the Company for any reason (including the Executive's death, Permanent Disability, voluntary resignation or retirement at normal retirement age under the Consolidated Edison Retirement Plan for Management Employees as amended from time to time or any successor plan (the "Retirement Plan")), other than his termination by the Company by reason of or arising out of breach of his duties as an officer of the Company, the Company shall provide the Executive with a supplemental pension benefit, and his Surviving Spouse (as defined below) with a supplemental 50% surviving spouse benefit, such supplemental pension and surviving spouse benefit being hereinafter called the "Supplemental Pension", equal to all benefits to which the Executive or his Surviving Spouse would be entitled under the Retirement Plan and the Con Edison Supplemental Retirement Income Plan as
Supplemental Pension Benefits. (a)(1) Should the Executive continue in the employ of the Corporation until his retirement at age 62 (or later, if requested in writing to do so by the Corporation), the Corporation shall pay, beginning with the month following such retirement to the Executive in monthly installments for his lifetime, from the general funds of the Corporation, a supplemental pension benefit equal to the difference between (i) all amounts which the Executive receives as Primary Social Security benefits, plus the employer-provided retirement income benefits payable under the then existing qualified defined benefit plan of the Corporation, or any successor corporation (the "Pension Plan") and (unless waived by the Compensation Committee of the Board of Directors of the Corporation as more fully set forth at the end of this paragraph 5(a)(1)) under the qualified defined benefit plans, qualified defined contribution plans and/or qualified money purchase plans or other employers and (ii) sixty percent (60%) of the average of the highest annual compensation paid by the Corporation to him in any three consecutive calendar years of the ten most recently completed calendar years ending on or prior to the date of his retirement (the "Average Annual Compensation"). In determining the Executive's annual compensation, the amounts to be included in this calculation shall be limited to his Annual Salary and his yearly bonus and/or additional yearly incentive compensation (and for this purpose, the Executive's yearly bonus and/or additional yearly incentive compensation, if any, shall be deemed to have been paid, and shall be included in his annual compensation, in the year that they are earned, even if they are paid in a subsequent year) and shall include all other compensation and other benefits received by the executive including, but not limited to, long-term incentive bonuses such as stock option rights, and restricted stock. In addition, and for the purpose of this calculation, the amount of the Executive's annual compensation shall not be reduced by the amount of salary, bonus or yearly incentive compensation the receipt of which the Executive elects to defer pursuant to a plan or arrangement approved by and participated in by the Corporation. For purposes of the offsets referred to above, the phrase "employer-provided retirement income benefits payable under the then existing qualified defined benefit plans of the Corporation and under the qualified defined benefit plans, qualified...
Supplemental Pension Benefits. The Company, the Subsidiary and the LLC Subsidiary have no Liability for any (i) supplemental retirement benefits or other nonqualified deferred compensation, (ii) severance pay relating to any termination of employment which occurs prior to the Closing, (iii) for nonqualified deferred compensation or incentive or contingent compensation relating to any Plan as in effect, or commitment made, prior to the Closing Date (to the extent related to periods prior to the Closing Date), (iv) for uninsured health, medical, disability or worker's compensation claims incurred prior to the Closing Date, regardless of whether such claims are reported prior to the Closing Date or are not so reported, or (v) the payment of accrued bonuses to the extent related to periods prior to the Closing Date and not accrued or reflected on the Balance Sheet.
