ESCP II Benefit(s definition

ESCP II Benefit(s means the Normal Retirement Benefit or Reduced Normal Retirement due an ESCP II Participant, Surviving Spouse, as a result of termination of employment of an ESCP II Participant with a Vested Percentage, an ESCP II Participant’s Disability while employed by an Alcon Affiliated Company or an ESCP II Participant’s death.

Examples of ESCP II Benefit(s in a sentence

  • An ESCP II Participant still receiving LTD benefits at Normal Retirement Age shall begin ESCP II Benefits but such benefit payments shall be reduced by the amount of any LTD benefit paid for the same month.

  • The first payment shall be made to such ESCP II Participant who is a Specified Employee shall be made on the second day following the expiration of six months following such individual’s Separation from Service and such first payment shall equal six monthly payments of ESCP II Benefits and thereafter the payments shall be made as otherwise provided herein on a monthly basis.

  • ESCP II Benefits shall be paid to the ESCP II Participant who is not a Specified Employee each year in equal semi-monthly installments until and including the month in which such ESCP II Participant shall die.

  • ESCP II Benefits paid before Normal Retirement Age shall be subject to the Applicable Penalty Percentage described in subparagraph 3.01(b)(ii).

  • If a vested ESCP II Participant’s employment is terminated voluntarily or involuntarily by retirement or otherwise, such ESCP II Participant must agree not to compete in the same or substantially similar businesses as those in which Alcon and its Alcon Affiliated Companies are engaged at the time of termination of employment for a period of five (5) years or the ESCP II Participant will forfeit all ESCP II Benefits.

  • If an ESCP II Participant suffers a Disability and is approved for Long-Term Disability (“LTD”) coverage by the LTD insurance carrier of any Alcon Affiliated Company (or LTD is approved by another LTD carrier which is concurred in by the ESCP II Committee), ESCP II Benefits shall begin when (aa) the ESCP II Participant attains Normal Retirement Age, or (bb) the first day of the month following the date on which LTD benefits cease.

  • Any applicable percentage adjustment shall commence not earlier than the January payment immediately following the commencement of ESCP II Benefits.

  • The first payment shall be made to such ESCP II Participant who is a Specified Employee on the second day following the expiration of six months following such individual’s Separation from Service and such first payment shall equal six monthly payments of ESCP II Benefits and thereafter the payments shall be made as otherwise provided herein on a monthly basis.

  • The provisions ofthis Article V supersede all other provisions of the ESCP II regarding benefit calculation and payment; however, this Article V does not affect ESCP II Benefits of ESCP II Participants or Surviving Spouses being paid or pending ESCP II Benefits of ESCP II Participants who Separated from Service prior to Early Retirement Age at the time Nestlé S.A. ceases to hold Majority Ownership of the Alcon Affiliated Company.

  • The provisions of this Article V supersede all other provisions of the ESCP II regarding benefit calculation and payment; however, this Article V does not affect ESCP II Benefits of ESCP II Participants or Surviving Spouses being paid or pending ESCP II Benefits of ESCP II Participants who Separated from Service prior to Early Retirement Age at the time Nestlé S.A. ceases to hold Majority Ownership of the Alcon Affiliated Company.

Related to ESCP II Benefit(s

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Medical Benefits means medical, optical, or dental benefits, including, but not limited to, hospital and physician services, prescription drugs, and related benefits.

  • 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;

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.

  • the Contributions and Benefits Act means the Social Security Contributions and Benefits Act 1992;

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.

  • Additional Benefits means quantifiable and verifiable enhancement of conservation of biodiversity and/or improvement of local livelihoods realized as a result of implementation of the REDD activities;

  • Covered benefits or “benefits” means those health care services to which a covered person is entitled under the terms of a health benefit plan.

  • Societal benefits charge means a charge imposed by an electric

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Employment benefits means all benefits provided or made

  • Vested Benefits means amounts that are vested or that Executive is otherwise entitled to receive, without the performance by Executive of further services or the resolution of a contingency, under the terms of or in accordance with any investment and savings plan or retirement plan (including any plan providing retiree medical benefits) of the Company or its affiliates, and any ERPs or ESPs related thereto, and any deferred compensation or employee stock purchase plan or similar plan or program of the Company or its affiliates.

  • 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).

  • Pharmacy benefits manager means a person that performs pharmacy benefits management.

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • Change in Control Benefits means the following benefits:

  • Compensation and Benefit Plans has the meaning set forth in Section 5.03(m).

  • Welfare Benefits means the types of benefits described in Section 3(1) of ERISA (whether or not covered by ERISA).

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