Grandfathered Benefits definition

Grandfathered Benefits means any Awards that were earned and vested as of December 31, 2004, within the meaning of Section 409A. Grandfathered Benefits are subject to the distribution rules under the Plan that were in effect on October 3, 2004 and are summarized on Appendix A.

Grandfathered Benefits means Benefits originally accrued under the Prior Plan which are credited to the Participant's account in this Plan pursuant to Section 4.3, but only to the extent such Benefits were accrued and vested on December 31, 2004 (together with earnings or losses thereon, whether attributable to periods before or after December 31, 2004, attributable to the Investment Options selected by the Participant).

Grandfathered Benefits. Grandfathered Benefits means “Accrued Benefits” as described in the Plan in effect as of December 31, 2004 that were earned and vested as of December 31, 2004. All Grandfathered Benefits are governed by and subject to the terms of the Plan in effect as of December 31, 2004 and are not subject to the terms of the Plan as set forth in this amendment and restatement effective January 1, 2005.

Examples of Grandfathered Benefits in a sentence

• A Participant will not be eligible for this cost of living adjustment if the Participant had ceased accruing additional Special Grandfathered Benefits prior to December 31, 2004 due to the Participant’s retirement, death or other termination of employment prior to December 31, 2004.

• There shall be no death benefit payable with respect to the Grandfathered Benefits of any such Participant.

• Notwithstanding anything in Part I of the Plan to the contrary, if an Employee who is accruing additional Special Grandfathered Benefits ceases to be eligible to accrue further benefits under Part I of the Plan because of termination of employment, retirement, transfer to an ineligible class of Employees, or for any other reason, such Employee shall not be eligible to accrue any additional Special Grandfathered Benefits upon resumption of service as an otherwise eligible Employee of the Employer.

• Notwithstanding anything in Part I of the Plan to the contrary, no additional Special Grandfathered Benefits shall accrue for periods after December 31, 2004.

• Except as described in (a) through (e) immediately below, Grandfathered Benefits shall be payable in the same form(s) and at the same times as benefits are payable under the Retirement Plan.

More Definitions of Grandfathered Benefits

Grandfathered Benefits means the portion of the compensation deferred and vested under the Plan as of December 31, 2004.

Grandfathered Benefits means the accrued and vested benefits under the terms of the Prior Plan as of December 31, 2004 as defined for purposes of Section 409A and subject to the terms of the Prior Plan as in effect on October 3, 2004 and as amended thereafter consistent with Section 409A.

Grandfathered Benefits means the vested accrued benefit of Plan Participants determined as of December 31, 2004, which shall be subject to the provisions of the Plan and tax law in effect immediately prior to the enactment of Section 409A of the Internal Revenue Code (i.e., as of October 3, 2004), including without limitation requirements as to election of the timing and form of payment; expressly provided, however that the Grandfathered Benefit shall be so grandfathered only to the extent that the Plan terms governing such benefits are not materially modified after October 3, 2004.

Grandfathered Benefits means the benefit described under Plan Section 3.1

Grandfathered Benefits means Plan benefits that were earned and vested as of December 31, 2004 within the meaning of Section 409A. Grandfathered Benefits are subject to the distribution rules in effect prior to this amendment and restatement that are summarized on Exhibit A.

Grandfathered Benefits means benefits payable under this Plan that are not subject to Code section 409A by reason of having been earned and vested as of December 31, 2004, provided that benefits shall cease to be Grandfathered Benefits if the Plan is “materially modified” with respect to such Grandfathered Benefits after October 3, 2004. Grandfathered Benefits shall be accounted for separately, and shall be adjusted for attributable earnings and losses.

Grandfathered Benefits means the portion of the compensation deferred and vested under the Plan as of December 31, 2004, and any earnings thereon.