If a Member who is eligible for a Restored ESOP Benefit under section 3.2 dies before the payment of such benefit begins, a Restored ESOP Death Benefit shall be payable to the Member’s Beneficiary under this Plan in amount determined pursuant to section 3.2(a).
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.
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.
Plan Benefit means the benefit payable to a Participant as calculated in Article V.
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.
Termination Benefit means the benefit set forth in Article 7.
Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).
Disability Benefit means the benefit set forth in Article 8.
Early Retirement Benefit means the retirement benefit payable to a member following early
Retirement Benefit means the benefit set forth in Article 5.
Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.
Normal Retirement Benefit means an annual benefit payment in the amount of Sixty-Six Thousand Three Hundred and Seventy-Three Dollars ($66,373.00) for a period of fifteen (15) years.
Vested Benefits means amounts which are vested or which Executive is otherwise entitled to receive under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company or any of its subsidiaries, at or subsequent to the date of his termination without regard to the performance by Executive of further services or the resolution of a contingency.
Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.
Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;
Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.
Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.
Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.
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)).
Account Balance means, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Company Contribution Account balance, and (iii) the Company Restoration Matching Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.
Actuarial equivalent means a benefit of equal value when