Benefit Credit Sample Clauses

Benefit Credit. (1) Each Participant shall receive service credit, for the purpose of receiving benefits and for vesting, retirement eligibility, benefit accrual, and all other purposes, under all employee benefit plans sponsored by the Company (including, but not limited to, health, life insurance, pension, savings, stock, and stock ownership plans, but excluding the Company's short-term and long-term disability plans) in which he participated on June 30, 2000, for 24 months.
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Benefit Credit. If the Executive incurs a Qualifying Termination, short-term and long-term disability plans) in which he participated immediately before the Change in Control, for 24 months;
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Benefit Credit. (a) Upon execution of the Agreement to which this Exhibit C is attached, you shall be credited with 8.5625 years of service as of June 30, 2000, and two years of service for each year from July 1, 2000, through November 30, 2003, for purposes of receiving benefits and for vesting, retirement eligibility, benefit accrual, and all other purposes, under all of the Company's benefit plans (including, but not limited to, health, life insurance, pension, savings, stock, and stock ownership plans, but excluding the Company's short-term and long-term disability plans) in which you participated on June 30, 2000. If you terminate your employment with the Company for any reason before November 30, 2003, you shall receive service credit pursuant to the immediately preceding sentence through November 30, 2003. Your credit for service after November 30, 2003, shall be determined in accordance with the Company's applicable service-crediting rules.
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Benefit Credit. (a) The benefit credit is provided based on the first two (2) pays paid in a calendar month. If there is a third (3rd) p for that pay.
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Benefit Credit. (a) The following annual amount will be credited on behalf of Participants who are Eligible Retirees:
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Benefit Credit. A Participant will be credited with Units of Benefit Credit for hours of service worked in a Plan Year as follows: Hours of Service Units of Benefit Credit 2500 or more 1.3 2300 - 2499 1.2 2100 - 2299 1.1 1900 - 2099 1.0 1700 - 1899 0.9 1500 - 1699 0.8 1300 - 1499 0.7 1100 - 1299 0.6 900 - 1099 0.5 700 - 899 0.4 500 - 699 0.3 Below 500 0.0 Units of Benefit Credit shall be accumulated by a Participant as a result of covered employment only for the period from and after October 1, 1978. Hours of Service shall be credited in accordance with Section 1.24. Former Participants who return to employment but did not have a nonforfeitable right to any portion of their Benefit Credits derived from Employer contributions at the time of termination shall receive credit for all Units of Benefit Credit earned prior to their break in service in accordance with Section 6.01 (Entry Dates and Participation).
Sample 1
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Related to Benefit Credit

  • Death Benefit Amount The Death Benefit Amount as of any Business Day prior to the Annuity Date is equal to the greater of:

  • Benefit Continuation You and your then eligible dependents shall continue to be covered by and participate in the group health and dental care plans (collectively, “Health Plans”) of the Company (at the Company’s cost) in which you participated, or were eligible to participate, immediately prior to the Date of Termination through the end of the Benefit Continuation Period; provided, however, that any medical or dental welfare benefit otherwise receivable by you hereunder shall be reduced to the extent that you become covered under a group health or dental care plan providing comparable medical and health benefits. You shall be eligible to participate in such Health Plans on terms that are at least as favorable as those in effect immediately prior to the Date of Termination. However, in the event that the terms of the Company’s Health Plans do not permit you to participate in those plans (other than pursuant to an election under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”)), in lieu of your and your eligible dependent’s coverage and participation under the Company’s Health Plans, the Company shall pay to you within fifteen (15) calendar days after the effective date of the Waiver and Release a lump sum equal to two (2) times your monthly COBRA premium amount for the number of months remaining in the Benefit Continuation Period. In addition, for the purposes of coverage under COBRA, your COBRA event date will be the date of loss of coverage described in this paragraph above.

  • Benefit Limit A. Should it be determined that the aggregate Present Value (measured as of the Closing Date) of the Parachute Payment attributable to the Payment(s) does not exceed one hundred ten percent (110%) of the Permissible Parachute Amount, then no Gross-Up Payment shall be made to Executive under Paragraph 1 of this Appendix. Instead, the limitations set forth in this Paragraph 2 shall apply. Accordingly, the amount of the Payments otherwise due the Executive shall be reduced to the extent necessary to assure that the aggregate Present Value of the Payment(s) does not exceed the greater of the following dollar amounts (the “Benefit Limit”)

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, the Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time to time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, the Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time to time by the Company for the benefit of its senior executives.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • SUPPLEMENTAL BENEFITS The employer shall maintain a “Supplemental Unemployment Benefits Plan” pursuant to the Employment Insurance Act and Regulations. The employer shall make amendments as appropriate to ensure that the Plan provides the maximum permissible benefits in conjunction with Article 17.03.

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