Basic Termination Benefit has the meaning accorded such term in Section 2.04.
Termination Benefit means the benefit set forth in Article 7.
Termination Benefits means the benefits described in Section 4.1(b).
Change in Control Benefit means the benefit described in Section 2.4.
Normal Retirement Benefit means the benefit described in Section 2.1.
Retirement Benefit means the benefit set forth in Article 5.
Automatic Termination shall have the meaning set forth in Section 2.3.2.
Separation Benefits has the meaning accorded such term in Section 3.04.
Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;
Compensation Accrued at Termination means the following:
Early Retirement Benefit means the retirement benefit payable to a member following early
Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).
Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.
Change in Control Benefits means the following benefits:
Severance Benefit means the payment of severance compensation as provided in Article III.
Disability Benefit means the benefit set forth in Article 8.
Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).
Employment benefits means all benefits provided or made
Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.
Termination Base Salary means that amount equal to Executive’s annual base salary with the Company at the rate in effect immediately prior to the Change of Control or, if a greater amount, Executive’s annual base salary at the rate in effect at any time thereafter.
Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.
Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.
Automatic Early Termination provision of Section 6(a) will not apply to Party A and will not apply to Party B.
Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.
Company Termination Fee has the meaning set forth in Section 7.3(a).
Employment Termination means the effective date of: (i) Executive’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Executive’s employment by the Company without Good Cause.
Disability benefit recipient means a member who is receiving a disability benefit.