Payment Commencement Date means the date payments of amounts deferred begin pursuant to Article III, Section 6.
Payment Commencement Date means the Company’s next regular payday for executives that follows the expiration of sixty (60) calendar days from the date the Executive’s employment terminates.
Payment Commencement Date means, with respect to a Participant, (i) if such Covered Termination occurs prior to the applicable Change in Control, the later of (A) such Change in Control or (B) the effective date of the Release (as defined below) or (ii) if such Covered Termination occurs on or after the applicable Change in Control, the later of (X) the date of such Covered Termination or (Y) the effective date of the Release.
Examples of Payment Commencement Date in a sentence
Restrictions on changing Payment Commencement Dates and Methods of Payment shall not prevent the Participant from choosing a different Payment Commencement Date and/or Method of Payment for amounts to be deferred in subsequent years.
To the extent any prepayments (in addition to the Fixed Level Payments) are made on or after the Level Payment Commencement Date, the amount of such prepayment shall be applied to the then applicable remaining Outstanding TIFIA Loan Balance.
Subject to the preceding sentence, payment of any severance payments due hereunder shall commence on the Payment Commencement Date.
In the case of key employee Participants, the Payment Commencement Date shall be no later than October 1 of the year following the year during which the key employee reaches age 65 or actually retires, whichever occurs later.
In the case of Director Participants, the Payment Commencement Date shall be no later than October 1 of the year after the Director Participant retires from the Board.
More Definitions of Payment Commencement Date
Payment Commencement Date. The later of the first business day of the month following the month in which Executive attains age sixty-five (65) (July 13, 2021) or the first business day of the month following the month in which Executive experiences a Separation from Service.
Payment Commencement Date means the date payment(s) of amounts credited to a Participant’s Account begin pursuant to Article III, Section 5.
Payment Commencement Date means a date that is within ninety (90) days after the Participant has a Distribution Event.
Payment Commencement Date. = The later of the first business day of the month following the month in which the Executive attains age 65 (June 29, 2026) or the first business day of the month following the month in which the Executive experiences a Separation from Service. “Full Benefit” = $80,000 “Limited Benefit” – Determined by reference to the following table: Year Limited Benefit January 1, 2016 to December 31, 2016 $6,667 January 1, 2017 to December 31, 2017 $13,333 January 1, 2018 to December 31, 2018 $20,000 January 1, 2019 to December 31, 2019 $26,667 January 1, 2020 to December 31, 2020 $33,333 January 1, 2021 to December 31, 2021 $40,000 January 1, 2022 to December 31, 2022 $46,667 January 1, 2023 to December 31, 2023 $53,333 January 1, 2024 to December 31, 2024 $60,000 January 1, 2025 to December 31, 2025 $66,667 January 1, 2026 to June 28, 2026 $73,333 The undersigned Executive hereby acknowledges that he has reviewed this Exhibit A to the Supplemental Executive Retirement Benefits Agreement and that the information set forth in this Exhibit A is true and correct in all material respects. /s/ Xxxx X. Xxxxx Xxxx X. Xxxxx December 18, 2015 Date EXHIBIT B DESIGNATION OF BENEFICIARY FORM under the SUPPLEMENTAL EXECUTIVE RETIREMENT BENEFITS AGREEMENT Pursuant to Section 2(e) of the Supplemental Executive Retirement Benefits Agreement (the “Agreement”), I, Xxxx X. Xxxxx, hereby designate the beneficiary(ies) listed below to receive any benefits under the Agreement that may be due following my death. This designation shall replace and revoke any prior designation of beneficiary(ies) made by me under the Agreement. Full Name(s), Address(es) and Social Security Number(s) of Primary Beneficiary(ies)*: [BENEFICIARY INFORMATION] *If more than one beneficiary is named above, the beneficiaries will share equally in any benefits, unless you have otherwise provided above. Further, if you have named more than one beneficiary and one or more of the beneficiaries is deceased at the time of your death, any remaining beneficiary(ies) will share equally, unless you have provided otherwise above. If no primary beneficiary survives you, then the contingent beneficiary designated below will receive any benefits due upon your death. In the event you have no designated beneficiary upon your death, any benefits due will be paid to your estate. In the event that you are naming a beneficiary that is not a person, please provide pertinent information regarding the designation. Full Name, Address and S...
Payment Commencement Date means the first business day of the calendar year following the Director Service Year in which the Eligible Director ceases to be a member of the Board for any reason, including without limitation, resignation, removal, death or Disability, provided that such cessation of Board service must constitute a “separation from service” within the meaning of Section 409A of the Code.
Payment Commencement Date means the 60th day following the Executive’s Qualifying Termination.
Payment Commencement Date means the first payroll date after the Eligible Employee’s execution and non-revocation of the Company’s Agreement and Release, subject to the provisions of Section 6.7(d).