Past Service Benefits definition

Past Service Benefits means all Long-Term Employee Benefits which are actually, prospectively or contingently payable under an Employee Benefit Arrangement to or in respect of any person in respect of service with any member of the Novartis Group or the Alcon Group before the Separation Date;
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Past Service Benefits means benefits (other than Contracted-Out Benefits) for, and in respect of, each Transferring Member in relation to service up to Completion.
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Examples of Past Service Benefits in a sentence

  • Past Service Benefits Perusahaan juga memberikan imbalan purnajasa kepada semua karyawan tetapnya.

  • A participant accrues 100% of his or her Past Service Benefits upon reaching age 62 or older while serving as a Director of the Company.

  • The Deferred Compensation Plan provides that for purposes of calculating the amount of the Past Service Benefits and Future Service Benefits, participants are credited with a full year of service for each calendar year or part thereof of service rendered.

  • A participant is fully vested in accrued Past Service Benefits upon completing five years of service as a Director of the Company.

  • The 1996 Amendment also provided that no Past Service Benefits or Future Service Benefits would accrue on or after January 1, 1998.No payments were made to any current or former Director of the Company in 2013 under the Deferred Compensation Plan.

  • We suggest the following rules be adopted for transitioning past service traditional DB benefits to a TBP.Structure and Funding of Past Service Benefits For simplicity, in order to transition past service traditional DB benefits to a target benefit design, a TBP should be a stand-alone pension plan.

  • The Past Service Benefits of a Member who made Money Purchase Contributions (as defined in Appendix B) prior to December 31, 2002 shall be adjusted as provided in Appendix B.

  • The 1996 Amendment also provided that no Past Service Benefits or Future Service Benefits would accrue on or after January 1, 1998.

  • Spain — Alcon Spanish Pension Plan15.14 In relation to the defined benefit pension plan sponsored by Alcon Cusi S.A. (the Alcon Spanish Plan ), Past Service Benefits (and underlying plan assets) in respect of active members of the Spanish Plan whose employment transfers to Alcon Healthcare, SAU on or prior to the Separation Date shall be transferred to Alcon Inc.

  • B1.03 The Past Service Benefits of a Member who made Money Purchase Contributions shall be adjusted pursuant to the terms of this Appendix B.

Related to Past Service Benefits

  • Service benefit means the credit toward retirement benefits as determined by the

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

  • 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.

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

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Employment benefits means all benefits provided or made

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • 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;

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

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Compensation Accrued at Termination means the following:

  • Change in Control Severance Benefits means the benefits payable pursuant to Section 3 of this 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.

  • Severance Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control and (ii) the Executive’s death.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • 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).

  • Special Servicing Compensation With respect to any Serviced Mortgage Loan, Serviced Loan Combination or REO Property (other than an REO Property related to an Outside Serviced Mortgage Loan), any of the Special Servicing Fee, the Workout Fee, and the Liquidation Fee which shall be due to the Special Servicer.

  • Change in Control Benefits means the following benefits:

  • Fringe benefits means the amount of: