Post-2012 Accrued Benefit definition

Post-2012 Accrued Benefit means a Participant’s benefit determined as of a particular time under the provisions of this Plan, including, where applicable, the value of an 162 (m) Account established for the Participant pursuant to Section 4.4.
Sample 1

Examples of Post-2012 Accrued Benefit in a sentence

  • Solely with respect to a Participant’s vested Post-2012 Accrued Benefit, if on the Participant’s 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 Participant’s 162(m) Account as the initial value for such account.

  • Unless the Participant’s Post-2012 Accrued Benefit is converted into a 162(m) Account and paid in accordance with Section 5.1 above, the Participant’s 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 Participant’s Post-2012 Accrued Benefit Payment Date, (iii) a Change of Control or (iv) the Participant’s Disability.

  • The Participant’s vested Post-2012 Accrued Benefit shall be paid as a single cash payment in an amount equal to the Actuarial Value of the Participant’s vested Post-2012 Accrued Benefit as of the payment date; provided, however, if the Participant is eligible to receive an early retirement benefit under Section 4.2, then the amount of a single lump sum payment to the Participant will be determined as of such payment date in accordance with Section 4.2.

  • No method of payment election is permitted to be made with respect to a Participant’s vested Post-2012 Accrued Benefit.

  • If the Participant dies prior to the payment of the Participant’s vested Post-2012 Accrued Benefit or 162(m) Account, then such benefit or 162(m) Account will be paid to the Participant’s beneficiary as determined under Section 6.7 as soon as practical after the Participant’s death, in the form of a lump sum payment.

  • A Participant’s Accrued Benefit is a benefit calculated as a single life annuity commencing on the Participant’s Normal Retirement Date in an amount equal to the sum of the Participant’s Pre-2013 Accrued Benefit and the Participant’s Post-2012 Accrued Benefit.

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  • 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 Participant’s death or disability, a Change of Control, or the first day of the seventh month following the Participant’s separation from service.

Related to Post-2012 Accrued Benefit

  • 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.

  • 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.

  • Termination Benefit means the benefit set forth in Article 7.

  • 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.

  • 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.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • 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.

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

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

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • 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.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • 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;

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.