Example ContractsClausesAmendments Cannot Reduce Accrued Benefits
Amendments Cannot Reduce Accrued Benefits
Amendments Cannot Reduce Accrued Benefits contract clause examples

No amendment of the Plan shall reduce the Benefit of any Member accrued under the Plan prior to the date when the amendment is adopted, except to the extent that a reduction in accrued benefits may be permitted by ERISA; and no amendment of the Plan nor any other action taken by the Company shall divert any part of the assets of the Trust Fund to purposes other than the exclusive purposes of providing benefits to Members or Beneficiaries who have an interest in the Plan and of defraying the reasonable expenses of administering the Plan and the Trust Fund, except as provided in Section 5.11.

Accrued Benefits. The [[Organization A:Organization]] has: # paid Employee for Employee’s accrued base salary and accrued paid time off through the Termination Date # reimbursed Employee for any incurred business expenses through the Termination Date, and # provided or will provide the right to purchase benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) (but not the benefit to be reimbursed for such costs) and any other compensation or benefits required by applicable law (collectively, the “Accrued Benefits”). In addition, subject to the execution of this Agreement, the [[Organization A:Organization]] will pay any additional amounts as specified in the Employment Agreement.

Accrued Benefits. the Accrued Benefits payable no later than thirty (30) days following Executive’s Termination Date;

Accrued Compensation. The Company will pay Executive all accrued but unpaid vacation, expense reimbursements, wages, and other benefits due to Executive under any Company-provided plans, policies, and arrangements.

Accrued Obligations. A lump sum amount equal to the Executive's unpaid Base Salary (as such term is defined in the Executive Severance and CIC Agreement), accrued vacation pay (if any), unreimbursed business expenses, and all other items earned by and owed to the Executive through and including the Termination Date, to be paid no later than ten (10) business days following the completion of the Revocation Periods described in Article 14.

Accrued Obligations. If the Executive’s employment with the Company is terminated for any reason, the Company shall pay or provide to the Executive (or to the Executive’s authorized representative or estate) # any Base Salary earned through the Date of Termination; # unpaid expense reimbursements (subject to, and in accordance with, Section 2(c) of this Agreement); and # any vested benefits the Executive may have under any employee benefit plan of the Company through the Date of Termination, which vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans (collectively, the “Accrued Obligations”).

Accrued Obligations. Not later than ten (10) days after termination of Employee’s employment, the Company shall pay Employee: # his accrued and unpaid base salary at the rate in effect at the time of notice of termination; # any previous year’s earned but unpaid bonus and other earned and unpaid incentive cash compensation; and # accrued and unused vacation time, unpaid expense reimbursements, and other unpaid cash entitlements earned by Employee as of the date of termination pursuant to the terms of the applicable Company plan or program.

Accrued Benefit. The amount of the monthly pension payable to a

the rights transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:

Accrued Obligations. will pay to Employee base salary through the Employment Termination Date (at the rate in effect immediately before the Employment Termination Date), any Unpaid Prior Year Bonus, a Pro Rata Current Year Bonus, and all other amounts to which Employee is entitled under any compensation plan applicable to Employee that is listed on [Exhibit B] to this Agreement. Unless any payment under this Section 6(c)(i) must be postponed by reason of Section 409A of the Internal Revenue Code (as provided in [Exhibit A] to this Agreement), will pay any base salary within five business days of the Employment Termination Date; will pay any Unpaid Prior Year Bonus at the same time that amount would have been paid if Employee’s employment had continued indefinitely but not later than March 15 of the year in which the Employment Termination Date occurs; will pay any Current Year Pro Rata Bonus at the same time that amount would have been paid if Employee’s employment had continued indefinitely but not later than March 15 of the year immediately after the year in which the Employment Termination Date occurs; and will pay any other amounts payable pursuant to this Section 6(c)(i) at the time specified in the applicable compensation plan.

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