Examples of Post-2012 Accrued Benefit Payment Date in a sentence
The Actuarial Value of such Post-2012 Accrued Benefit will be paid as a lump sum payment on the earlier of the designated Post-2012 Accrued Benefit Payment Date specified for each Participant, the Participants death or disability, a Change of Control, or the first day of the seventh month following the Participants separation from service.
The Participants in the Plan as of January 1, 2013 and each such Participants Pre-2013 Accrued Benefit and Post-2012 Accrued Benefit Payment Date will be set forth on an addendum to this Plan, which addendum shall be completed as soon as possible after the applicable Pre-2013 Accrued Benefit values have been calculated and shall be kept with the Companys general counsel and human resources departments (Addendum B).
Solely with respect to a Participants vested Post-2012 Accrued Benefit, if on the Participants Post-2012 Accrued Benefit Payment Date, the Company reasonably anticipates that, if made, such payment would not be deductible for income tax purposes by the Company under Code section 162(m), then the value of such vested Post-2012 Accrued Benefit as determined pursuant to Section 6.4 shall be credited to the Participants 162(m) Account as the initial value for such account.
Unless the Participants Post-2012 Accrued Benefit is converted into a 162(m) Account and paid in accordance with Section 5.1 above, the Participants vested Post-2012 Accrued Benefit shall be paid in the form of a lump sum on the earlier of (i) the first day of the seventh month following the month in which the Participant has a Separation from Service, (ii) the Participants Post-2012 Accrued Benefit Payment Date, (iii) a Change of Control or (iv) the Participants Disability.
The amount of a Participants Pension Plan Offset is the Actuarial Equivalent of the Participants accrued benefit as defined in the Pension Plan, determined (A) as if such benefit were payable in the form of a single life annuity that commences on the Participants Normal Retirement Date and (B) as of the Post-2012 Accrued Benefit Payment Date.