USERP definition

USERP means the unregistered supplemental executive retirement plan dated July 12, 2000, as amended and restated as of January 1, 2006, made by Borrower in favor of its former Co-Chief Executive Officer and current Chairman of the Board, ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, and its current Chief Executive Officer, ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇.
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USERP means the unregistered supplemental executive retirement plan dated July 12, 2000, as amended and restated as of January 1, 2006, made by Borrower in favor of its former Co-Chief Executive Officer and current Chairman of the Board, Bradley J. Wechsler, and its current Chief Executive Officer, Richard L. Gelfond.
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Examples of USERP in a sentence

  • Capitalized terms used herein and not otherwise defined shall have the meaning ascribed to them in the EXPP (or if applicable, the USERP).

  • Furthermore, for purposes of calculating Retirement Benefits, Deferred Vested Benefits or Surviving Spouse’s Benefits payable under the USERP and/or the EXPP, Executive’s Average Final Compensation shall not be less than $465,000.

  • Anything in the USERP or the EXPP to the contrary notwithstanding, any dispute or controversy arising under or in connection with this Agreement or the USERP or the EXPP shall be settled exclusively by arbitration in Fairfield, CT, by three arbitrators in accordance with the rules of the American Arbitration Association in effect at the time of submission to arbitration.

  • Anything in the USERP or the EXPP to the contrary notwithstanding, this Agreement and the rights and obligations of the Company and Executive under the USERP and the EXPP are governed by and are to be construed, administered, and enforced in accordance with the laws of the State of Connecticut, without regard to conflicts of law principles, except insofar as federal laws and regulations and the Delaware General Corporation Law may be applicable.

  • Moreover, in the event that Executive’s Surviving Spouse shall become eligible for death benefits under the USERP and/or the EXPP prior to the commencement of benefit payments to Executive, the Surviving Spouse’s Benefit shall not be less than the Surviving Spouse’s Benefit that would have been payable under the USERP had Executive continued to participate in the USERP from February 11, 2003 until the date of Executive’s death.

  • If and to the extent that this Agreement may provide enhanced benefits to Executive under the USERP which benefits are not explicitly provided for under the USERP, the USERP shall be deemed amended by this Agreement (but only insofar as it pertains to Executive).

  • Notwithstanding the foregoing, no payment or benefit under this Agreement or the Employee Protection Plan or the EXPP or the USERP shall be made or extended which duplicates any payment or benefit under your Employment Agreement.

  • Notwithstanding the foregoing, no payment or benefit under the Employee Protection Plan or the Change-in-Control Agreement or the EXPP or the USERP shall be made or extended which duplicates any payment or benefit hereunder.

  • If and to the extent that this Agreement may provide enhanced benefits to Executive under the EXPP or USERP which benefits are not explicitly provided for under the EXPP or USERP, the EXPP or USERP shall be deemed amended by this Agreement (but only insofar as it pertains to Executive).

  • If under the governing law, any portion of this Agreement or the USERP or the EXPP is at any time deemed to be in conflict with any applicable statute, rule, regulation, ordinance, or other principle of law, such portion shall be deemed to be modified or altered to the extent necessary to conform thereto or, if that is not possible, to be omitted therefrom.

Related to USERP

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

  • 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.

  • 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.

  • 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.

  • Flexi Plan means any individual indemnity hospital insurance plan under the VHIS framework with enhancement(s) to any or all of the protections or terms and benefits that the Standard Plan provides to the Policy Holder and the Insured Person, subject to certification by the Government. Such plan shall not contain terms and benefits which are less favourable than those in the Standard Plan, save for the exception as may be approved by the Government from time to time.