Examples of Company SERP in a sentence
If Officer is a participant in the Supplemental Executive Retirement Plan of the Pacific Gas and Electric Company (SERP), Officer may elect to convert any portion of the amount described in the preceding Section 2(a)(1) to provide for additional years of service and/or additional years to Officer's age for purposes of calculating a benefit under the SERP.
The Company expects to review the Company SERP as part of an overall review of retirement benefits and the Company SERP may change as a result of such review, in the Company’s discretion.
Company shall not assume any liability whatsoever with respect to the Parent SERP, and Parent shall not assume any liability with respect to Company SERP.
During the Term of Employment, the Executive shall be entitled to participate in the Income Continuation Policy for Select Senior Executives of the Company ("ICP") (which provides benefits to the Executive in the event of a change in control of the Company), the Deferred Compensation Plan and the Supplemental Retirement Plan I for Select Senior Management of the Company ("SERP I").
The Company maintains the Unfunded Pension Plan for Selected Executives of the Company ("SERP").
The Executive may terminate his employment upon giving at least three (3) months’ written notice to the Company, provided that he is vested in his accrued benefit pursuant to the Company SERP upon the Date of Termination.
The Executive will be fully vested at all times in his benefits under the Company SERP.
The Company SERP and the Company RVP SERP shall be amended (with participant consent, as necessary) prior to the Effective Time to permit the treatment of account balances thereunder as set forth above.
The Pension Sum will accrue from day to day and is payable in respect of each of the Company’s fiscal years and to the extent that the 401(k) plan Company matching contributions and the Company SERP contributions are less than the Pension Sum, the balance of the Pension Sum shall be paid to you as a lump sum on or before the expiration of 90 days after the end of each fiscal year by credit transfer to your designated bank account.
Subject to Section 11, the Executive’s benefit under the Company SERP shall be paid in a cash lump sum on the earlier to occur of January 1, 2012, or the Executive’s termination of employment hereunder.