Early Benefit Amount definition

Early Benefit Amount shall be the greater of the following two amounts:
Sample 1Sample 2Sample 3

Examples of Early Benefit Amount in a sentence

  • In the event that Executive is actively employed by the Corporation at the time of such termination, he shall be entitled to the Early Benefit Amount described in Article 2, except that the date of the Agreement's termination shall be substituted for the date of the Executive's death as the Early Benefit Date.

  • In the event that the Executive becomes entitled to an Early Benefit Amount pursuant to this Section 4.2, but dies before receiving the entire Early Benefit Amount, then the remaining payments shall be made in the manner described in this Section 4.2 to such individual or individuals as the Executive has designated in writing, filed with and been approved by the Corporation.

  • The "Early Annual Amount" shall be calculated so that the present value of the fifteen (15) equal payments of the Early Annual Amount, when discounted at 7 percent (or such other percent as may from time to time be determined by the Board of Directors of Elco Industries, Inc., in its sole discretion) per annum, is equal to the Early Benefit Amount on the Early Benefit Payment Commencement Date.

Related to Early Benefit Amount

  • Benefit Amount shall have the meaning set forth in Section 20.12 hereof.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • 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.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • 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).

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Capacity Benefit Margin or “CBM” shall mean the amount of firm transmission transfer capability preserved by the transmission provider for Load-Serving Entities (“LSEs”), whose loads are located on that Transmission Service Provider’s system, to enable access by the LSEs to generation from interconnected systems to meet generation reliability requirements. Preservation of CBM for an LSE allows that entity to reduce its installed generating capacity below that which may otherwise have been necessary without interconnections to meet its generation reliability requirements. The transmission transfer capability preserved as CBM is intended to be used by the LSE only in times of emergency generation deficiencies.

  • Termination Benefit means the benefit set forth in Article 7.

  • 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.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Company Contribution Amount means, for any one Plan Year, the amount determined in accordance with Section 3.5.

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Benefit Distribution Date means the date upon which all or an objectively determinable portion of a Participant’s vested benefits will become eligible for distribution. Except as otherwise provided in the Plan, a Participant’s Benefit Distribution Date shall be determined based on the earliest to occur of an event or scheduled date set forth in Articles 4 through 9, as applicable.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Actuarial equivalent means a benefit of equal value when

  • Extended benefit period means a period which:

  • Title Benefit Amount has the meaning set forth in Section 6.2(d).

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.