Non-Grandfathered Benefits definition

Non-Grandfathered Benefits means the portion of the compensation deferred and vested under the Plan after December 31, 2004.
Sample 1Sample 2
Non-Grandfathered Benefits means the benefit described under Plan Section 3.1.
Sample 1
Non-Grandfathered Benefits means benefits payable under this Plan that are not Grandfathered Benefits, as described in Section 4.1.
Sample 1

Examples of Non-Grandfathered Benefits in a sentence

  • Upon such payment, no additional Non-Grandfathered Benefits are owed to the Participant or his Beneficiary under this Supplemental Plan.

  • The timing or manner of payment for Non-Grandfathered Benefits may not be modified pursuant to this Section 7.3.

  • In the absence of an effective election, and assuming that Subsections 4.3(b)(v)(1) or (2) do not otherwise apply, Non-Grandfathered Benefits owed to the Participant hereunder shall be paid in the form specified in Section 4.3(b)(ii).

  • If the Board amends the Supplemental Plan to cease future accruals hereunder or terminates the Supplemental Plan, the Board may, in its sole discretion, direct that each Participant’s benefit under the Supplemental Plan be paid to each Participant (or designated Beneficiary) in an immediate single sum distribution provided that in the case of Non-Grandfathered Benefits the requirements of Code Section 409A (including, to the extent applicable, Treas.

  • Notwithstanding the preceding limitation, Participants were allowed to revoke and modify their existing elections for Non-Grandfathered Benefits between October 3, 2004 and December 31, 2008, in accordance with transitional guidance issued by the Internal Revenue Service, including IRS Notice 2005-1, Notice 2006-79, Notice 2007-86 and the proposed regulations issued under Code Section 409A.

  • For purposes of federal income taxation, the Plan is intended to be a plan that is not qualified within the meaning of Code Section 401(a) and the benefits attributable to Non-Grandfathered Benefits are intended to be subject to and to comply with the requirements of Code Section 409A and the benefits attributable to the Grandfathered Benefits are intended to be outside the scope of and exempt from the requirement of Code Section 409A.

  • Upon the termination of the Plan, the benefits attributable to Non-Grandfathered Benefits will be paid in accordance with terms of this Plan as if no Plan termination had occurred, neither the time nor the schedule of any payment or amount scheduled to be paid under the Plan may be permitted to be accelerated, and the elected deferral amount shall continue to be withheld in accordance with Article IV except as provided in Section 8.03(b) below.

  • All account balances attributable to Non-Grandfathered Benefits shall be distributed pursuant to Section 7 and payment of such amounts shall not be impacted by a Rating Event.

  • The submitter generally considers that Rule R34 would suit their purposes with regards to the discharges of gas they manage.

  • If the lump sum amount of the entire supplemental payment (including both Grandfathered and NonGrandfathered Benefits) is $10,000 or less, such payment of both Grandfathered and NonGrandfathered Benefits shall be made in a lump sum at such time.


More Definitions of Non-Grandfathered Benefits

Non-Grandfathered Benefits means the portion of the compensation deferred and vested under the Plan after December 31, 2004, and any earnings thereon.
Sample 1
Non-Grandfathered Benefits to “Specified Employees,” as defined in the SERP, shall be deferred until the earlier of (i) the date that is six months following the Specified Employee’s termination of employment, or (ii) the date of the Specified Employee’s death.
Sample 1

Related to Non-Grandfathered Benefits

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

  • Grandfathered Amounts means, if applicable, the amounts that were deferred under the Plan and were earned and vested within the meaning of Section 409A of the Code and regulations thereunder as of December 31, 2004. Grandfathered Amounts shall be subject to the terms designated in the Adoption Agreement.

  • 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.

  • 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.

  • Grandfathered Service means service which is no longer available for new customers and is limited to the current customer at their current locations with certain provisioning limitations, including but not limited to upgrade denials, feature adds/changes and responsible/billing party.

  • 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.

  • Grandfathered health plan means a group health plan or an

  • 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;

  • Nonqualified Deferred Compensation Rules means the limitations or requirements of Section 409A of the Code, as amended from time to time, including the guidance and regulations promulgated thereunder and successor provisions, guidance and regulations thereto.

  • Grandfathered Person means any Person who or which, together with all Affiliates and Associates of such Person, is, as of the Grandfathered Time, the Beneficial Owner of 15% or more of the shares of Common Stock of the Company then outstanding. Notwithstanding anything to the contrary provided in this Agreement, any Grandfathered Person who after the Grandfathered Time becomes the Beneficial Owner of less than 15% of the shares of Common Stock of the Company then outstanding shall cease to be a Grandfathered Person and shall be subject to all of the provisions of this Agreement in the same manner as any Person who is not and was not a Grandfathered Person.

  • Grandfathered Stockholder has the meaning set forth in Section 1.1.

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Deferred Compensation Award means an award of Stock Units granted to a Participant pursuant to Section 12 of the Plan.

  • Change in Control Benefits means the following benefits:

  • Employment benefits means all benefits provided or made

  • Excepted benefits means benefits under one or more (or any combination thereof) of the following:

  • Non-Key Employee means any Employee who is not a Key Employee.

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

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

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

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

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

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

  • Disability benefit recipient means a member who is receiving a disability benefit.

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

  • 415 Compensation means: