Benefit Obligation means payment to Executive (or his designated beneficiary or legal representative, as applicable), in accordance with the terms of the applicable plan document, of all vested benefits to which Executive is entitled under the terms of the benefit plans and compensation arrangements in which Executive is a participant as of the Termination Date. “Accrued Obligation” means the sum of (x) Executive’s Base Salary through the Termination Date, and (y) any incurred but unreimbursed expenses for which Executive is entitled to reimbursement, in each case, to the extent not theretofore paid.
Benefit Obligation means all vested benefits to which the Executive is entitled under the terms of the Company’s employee benefit plans and compensation arrangements in which the Executive is a participant as of the Date of Termination.
Benefit Obligation means payment by the Company to Executive (or his designated beneficiary or legal representative, as applicable), in accordance with the terms of the applicable plan document, of all vested benefits to which Executive is entitled under the terms of the employee benefit plans and compensation arrangements in which Executive is a participant as of the date of termination. “Accrued Obligation” means the sum of (1) Executive’s Base Salary through the date of termination, (2) any accrued vacation pay earned by Executive, (3) any earned but unpaid annual bonus for any completed calendar year and (4) any incurred but unreimbursed expenses for which Executive is entitled to reimbursement, in each case, to the extent not theretofore paid.
Examples of Benefit Obligation in a sentence
In such case, the Accrued Obligation shall be paid to the Executive in a lump sum in cash within 30 days after the Date of Termination and the Benefit Obligation shall be paid in accordance with the terms of the applicable Benefit Plans.
Expenses recognized for employee benefits (see Note 13) are presented below: June 30, 2008 June 30, 2007 Salaries and wages21,985,69513,844,09513th month pay and bonuses1,865,457822,722Employee welfare and other benefits 3,062,241 1,995,791 26,913,393 16,662,608 14.2 Employee Retirement Benefit Obligation The Group has an unfunded defined benefit pension plan covering all qualifying employees.
This means that we use the Projected Benefit Obligation (PBO) approach, and not the Accumulated Benefit Obligation (ABO) approach.
The present value of the Defined Benefit Obligation, and the related current service cost, were measured using the projected unit credit method.
Retirement Benefit Obligation The cost of providing retirement benefits is determined using the Projected Unit Credit Method, with actuarial valuations being carried out at each financial position date.
More Definitions of Benefit Obligation
Benefit Obligation means all benefits to which the Executive (or his designated beneficiary or legal representative, as applicable) is entitled or vested (or becomes entitled or vested as a result of termination) under the terms of all employee benefit and compensation plans, agreements, arrangements, programs, policies, practices, contracts or agreement of the Company and its Affiliated companies (collectively, “Benefit Plans”) in which the Executive is a participant as of the Date of Termination and to the extent not theretofore paid or provided. “Accrued Obligation” means the sum of (i) the Executive’s Annual Base Salary through the Date of Termination for periods through but not following his Separation From Service and (ii) any accrued vacation pay earned by the Executive, in each case, to the extent not theretofore paid.
Benefit Obligation means payment by the Company to Employee (or his designated beneficiary or legal representative, as applicable), in accordance with the terms of the applicable plan document, of all vested benefits to which Employee is entitled under the terms of the employee benefit plans and compensation arrangements in which Employee is a participant as of the Date of Termination. “Accrued Obligation” means the sum of (1) Employee’s Base Salary through the Date of Termination, (2) any accrued but unused vacation pay earned by Employee, and (3) any incurred but unreimbursed expenses for which Employee is entitled to reimbursement in accordance with Section 4.6, in each case, to the extent not theretofore paid.
Benefit Obligation means payment by the Company to the Executive (or the Executive’s designated beneficiary or legal representative, as applicable), in accordance with the terms of this Agreement or the applicable plan document, of all vested benefits to which is entitled under the terms of the employee benefit plans and compensation arrangements in which the Executive is a participant as of the Date of Termination. “Accrued Obligation” means the sum of (1) the Executive’s Base Salary through the Date of Termination and (2) any incurred but unreimbursed expenses for which the Executive is entitled to reimbursement in accordance with Company policies, in each case, to the extent not theretofore paid.
Benefit Obligation means the employer's aggregate financial liability to provide all current, projected and contingent benefits to an employee, or his beneficiaries or dependents, as the case may be, under the terms of any of the FindWhat Plans (as defined below) or the Espotting Plans (as defined in Section 4.15(a) below), regardless of whether an amount less than such aggregate financial liability is reflected on the employer's financial statements under applicable Tax and accounting rules.
Benefit Obligation has the meaning set forth in Section 3.11(a).
Benefit Obligation means all benefits to which the Executive (or his designated beneficiary or legal representative, as applicable) is entitled or has become vested (or becomes entitled or vested as a result of termination) under the terms of all employee benefit and compensation plans, agreements and arrangements (collectively, "Benefit Plans") in which the Executive is a participant as of the Date of Termination. "Accrued Obligation" means the sum of (x) the Executive's Annual Base Salary through the Date of Termination for periods through but not following his Separation From Service and (y) any accrued vacation pay earned by the Executive subject to any applicable Company policies on carryover of accrued vacation pay, and in each case, to the extent not theretofore paid.
Benefit Obligation means all benefits to which the Executive (or his designated beneficiary or legal representative, as applicable) is entitled or vested (or becomes entitled or vested as a result of termination) under the terms of all Benefit Plans in which the Executive is a participant as of the Termination of Employment and to the extent not theretofore paid or provided.