The Company shall establish and maintain, at its sole cost and expense, the Retiree Only Plan effective the date of Executive’s Retirement and continue such Retiree Only Plan without interruption in coverage until the Medical Retirement Benefit Termination Date.
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.
Termination Benefit means the benefit set forth in Article 7.
Disability Retirement Date means the first day of the month following the last day of paid employment;
Retirement Benefit means the benefit set forth in Article 5.
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;
Early Retirement Benefit means the retirement benefit payable to a member following early
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.
Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.
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.
Plan Termination Date means the date that is ten (10) years after the Effective Date, unless the Plan is earlier terminated by the Board pursuant to Section 15 hereof.
Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).
Termination Benefits means the benefits described in Section 4.1(b).
Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.
Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.
Disability retirement for plan 1 members, means the period
Accrual Termination Date Not applicable.
Retirement Age means the earlier to occur of:
Extended benefit period means a period which:
Severance from Service Date means the earlier of:
Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.
Normal Retirement Age means the Executive's 65th birthday.
Service Termination Date means the last Day in a month upon which Service shall terminate, as set forth in a Schedule of Service and subject to any renewal thereof.
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).
Compensation Accrued at Termination means the following:
Change in Control Benefit means the benefit described in Section 2.4.