Deferral Benefits Sample Clauses

Deferral Benefits. As stated herein, if the Executive should suffer a Termination of Service pursuant to this Subparagraph II (D), the Executive shall be entitled to Deferral Benefits as set forth in Paragraph III, and said benefits shall be payable within thirty (30) days from the date of said Termination of Service.
Deferral Benefits. Executive and the Company acknowledge that Executive has previously elected to defer compensation pursuant to one or more Participation Agreements under the Deferral Plan. Consistent with these elections and Executive's timely execution of this Agreement under paragraph 21, and to the extent permitted by the Deferral Plan, on January 31, 1997, the Company shall credit Executive's account under the Deferral Plan with an amount up to, but not to exceed, the total of his unfulfilled deferral commitments under those Participation Agreements. For purposes of this paragraph, unfulfilled deferral commitments of Executive's Value Share Plan award for 1996 shall be equivalent to the amount of the 1995 deferral commitment for the Value Share Plan. The amount to be deferred shall include payments under paragraphs 2 and 6 and an amount up to the total lump sum value of Executive's special supplementary benefit under the Lyondell SERP, as determined in accordance with paragraph 3. The amount of any special supplementary benefit in excess of the amount credited to Executive's account under the Deferral Plan, if any, shall be paid to Executive in the same form of payment Executive has elected for payment of his general benefit payment from the Lyondell SERP. Executive understands that if this Agreement is not executed in a timely basis, in accordance with paragraph 21, the Company may be unable to credit these sums to Executive's account under the Deferral Plan and they will be paid to him directly after the Effective Date. Executive's outstanding deferrals shall be subject to the Designation of Distribution Options which he has made for those deferrals regarding the time and form of payment of his deferred compensation.
Deferral Benefits. In the years or semesters preceding the year or semester leave, a teacher will be paid an appropriate portion of his/her grid salary and any applicable allowances as per section The remaining amount shall be retained by the Board to be paid to the teacher in the year or semes- ter of the leave, in accordance with para- graph a teacher is enrolled in the plan and not on leave, the proportionate increase in coverage for Long Term Disability and Life Insurance benefits shall be maintained at of salary at the teacher’s expense. The portion of salary that is held back in the deferred salary leave plan shall be placed in an account with a chartered Canadian bank (acting as agent). Throughout the teacher’s participation in a deferred salary leave plan, the control of the account shall be vested solely in the Board on behalf of the participant as herein set out. While a teacher is enrolled in a deferred salary leave plan, the Board shall, on the following dates, pay to the teacher the interest earned on his/her account: the last pay day in December as pre- scribed in the Teachers’ Collective Agreement; and
Deferral Benefits 

Related to Deferral Benefits

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)

  • Plan Benefits Each year, prior to the annual enrollment period, EMPLOYEES will receive Enrollment information that will outline the benefits offered next calendar year. Information relative to specific health insurance benefits and limitations will be updated regularly and contained in the SPD. In the event there is a conflict between the provisions of the collective bargaining agreement and the SPD, the District's SPD shall control.

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Separation Benefits If this Agreement is terminated either by the Company without Cause in accordance with Section 6(c) (including the Company’s non-renewal of this Agreement) or by Employee resigning his employment for Good Reason in accordance with Section 6(d), the Company shall have no further obligation to Employee under this Agreement, except the Company shall provide the Accrued Obligations to Employee in accordance with Section 7(a) plus the following payments and benefits (collectively, the “Separation Benefits”) to Employee: (i) an amount equal to one times the sum of the Base Salary in effect immediately before the Termination Date plus the Annual Bonus received by Employee for the fiscal year preceding the Termination Date (or if Employee was employed for less than one full fiscal year prior to the Termination Date, the Annual Bonus for purposes of this Section 7 shall be the Annual Bonus payable during the current fiscal year at the target amount provided above) (together, the “Separation Pay”); and (ii) during the six-month period commencing on the Termination Date that Employee is eligible to elect and elects to continue coverage for himself and his eligible dependents under the Company’s group heath insurance plan pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), or similar state law, the Company shall reimburse Employee on a monthly basis for the difference between the amount Employee pays to effect and continue such coverage under COBRA and the employee contribution amount that active employees of the Company pay for the same or similar coverage; provided, however, that Employee shall notify the Company in writing within five days after he becomes eligible after the Termination Date for group health insurance coverage, if any, through subsequent employment or otherwise and the Company shall have no further reimbursement obligation after Employee becomes eligible for group health insurance coverage due to subsequent employment or otherwise. The Separation Pay shall be paid to Employee in a lump sum within 60 days of the Termination Date; provided, however, that no Separation Pay shall be paid to Employee unless the Company receives, on or within 55 days after the Termination Date, an executed and fully effective copy of the Release (as defined below). Any COBRA reimbursements due under this Section shall be made by the last day of the month following the month in which the applicable premiums were paid by Employee. For the avoidance of doubt, Employee shall not be entitled to the Separation Benefits if this Agreement is terminated (i) due to Employee’s death; (ii) by the Company due to Employee’s Inability to Perform; (iii) by the Company for Cause; (iv) by Employee without Good Reason; or (v) by non-renewal by Employee in accordance with Sections 4(b) and 6(f).