Supplemental Plus Benefit definition

Supplemental Plus Benefit means the lump sum benefit payable under this Plan.
Sample 1Sample 2Sample 3

Examples of Supplemental Plus Benefit in a sentence

  • Both the Committee's and the Board's interpretations and construction thereof, and actions thereunder, made in the sole discretion of the Committee and the Board, including any valuation of the Supplemental Plus Benefit, any determination under this Section 6, or the amount of the payment to be made hereunder, shall be final, binding and conclusive on all persons for all persons.

  • Such forfeiture shall be equal to the greater of (i) the unpaid portion of his Supplemental Plus Benefit and (ii) the portion of his Supplemental Plus Benefit, whether theretofore paid or not paid, which in the Standard Form would be attributable to the period after which he commences to compete.

  • Subject to (b) below, a Participant's Supplemental Plus Benefit shall be paid in the form of a lump sum benefit, payable as soon as administratively feasible after the Initial Payment Date.

  • In no event shall the combined Supplemental Plus Benefit (as actuarially adjusted to reflect Actuarial Equivalents) be greater than the Supplemental Plus Benefit the Participant would have received if his service had been continuous.

  • If a Participant is reemployed by the Company after commencing to receive a Supplemental Plus Benefit hereunder but does not again become a Participant, the Company shall have the right at its election to suspend benefits payable hereunder during such period of employment with an appropriate Actuarial Equivalent adjustment in his benefits when they recommence.

  • Any Supplemental Plus Benefit payable under this Plan shall not be deemed salary or other compensation to the Employee for the purposes of computing benefits to which he may be entitled under any pension plan or other arrangement of the Company for the benefit of its employees.

  • If the former Participant again becomes a Participant accruing benefits under the Plan, he shall cease to receive Supplemental Plus Benefits, his prior election as to his form of benefit shall be deemed cancelled, he shall have his benefits recalculated based on his entire service for the Company offset by the Actuarial Equivalent of the previously received Supplemental Plus Benefit, and benefits shall be payable in accordance with Sections 3 and 4 above.

  • The Committee, in its sole discretion, may increase a Participant's Supplemental Plus Benefit, his recognized service or his recognized compensation and may establish such conditions on such increase as it deems appropriate.

  • The Company shall not be responsible for any portion of the Supplemental Plus Benefit attributable to or allocated to service with another Participating Entity and no such other Participating Entity shall have any obligation by virtue of the Plan.

  • A Participant shall, in the sole discretion of the Committee, forfeit his Supplemental Plus Benefit in the event that within three (3) years after his Termination of Employment he engages, without the prior written consent of the Committee, in any activity which the Committee, in its sole discretion, believes to be competitive with the activities of the Company or MOC.

Related to Supplemental Plus Benefit

  • 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.

  • Supplemental Plan means a written plan for a child outlining the agency's plan to locate a permanent placement for the child and which may be developed concurrently with the case plan.

  • Supplemental Retirement Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

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

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

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

  • 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.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • 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.

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

  • Qualified Plan means a Pension Plan that is intended to be tax-qualified under Section 401(a) of the IRC.

  • Supplemental Payment means any payments or transfers of things of value made to the District or to any person or persons in any form if such payment or transfer of thing of value being provided is in recognition of, anticipation of, or consideration for the Agreement and that is not authorized pursuant to Sections 313.027(f)(1) or (2) of the TEXAS TAX CODE, and specifically includes any payments required pursuant to Article VI of this Agreement.

  • Thrift Plan means the Financial Institutions Thrift Plan, a qualified and tax-exempt defined contribution plan and trust under Sections 401(a) and 501(a) of the Code, as adopted by the Bank.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in value in the aggregate as are payable thereunder prior to a Change in Control.

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

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Actuarial equivalent means a benefit of equal value when

  • Change in Control Benefit means the benefit described in Section 2.4.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

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