Amount of Early Retirement Supplemental Benefit. The monthly supplemental retirement benefit payable to a Participant who retires prior to Normal Retirement Date shall be an amount equal to 1/12th of 55 percent of the Highest Average Three-Year Compensation, reduced by all of the following that are applicable:
Supplemental Retirement Benefit. A Participant’s `Supplemental Retirement Benefit’ means the difference between the Participant’s Modified Accrued Benefit and the sum of the Participant’s Accrued Benefit and the Participant’s Foreign Plan Benefit, expressed in terms of a single-life annuity effective as of the first day of the month next following the Participant’s Normal Retirement Date.
Early Retirement Benefit. In the event the Participant’s Commencement Date precedes his Normal Retirement Date, his Retirement Benefit shall be the amount determined under [Section 3.1] of the Plan, reduced by the standard early retirement reduction factors set forth in Rider No. 1 to the Crown Cork & Seal Company, Inc. Pension Plan (or any successor plan thereto) for the period by which his Commencement Date precedes his Normal Retirement Date.
Total Supplemental Benefit Amount. The Total Supplemental Benefit payable under this Agreement shall be equal to the sum of # the Supplemental Pension Benefit and # the Supplemental SERP Benefit, as described below.
Supplemental Amount. Employee is eligible to receive a supplemental severance payment in the amount of $431,010.00 (less deductions or withholdings required by law or by agreement between the Parties and any outstanding amounts Employee owes to the Company, including but not limited to any outstanding balance owed on any housing or relocation loans).
Vesting of Supplemental Retirement Benefit. Subject to Section 4.2, a Participant’s Supplemental Retirement Benefit shall become 100% vested: # if while employed by the Company, the Participant # dies or # attains age 55 and is credited with 15 Years of Service, # if while employed by the Company, a Change in Control occurs or # under such other circumstances as prescribed by the Committee. If a Participant incurs a Separation from Service prior to satisfying the criteria set forth in the preceding sentence, the Participant shall forfeit his entire Supplemental Retirement Benefit.
Amount of Early Termination Benefit. [Section 2.2.1] of the Agreement shall be amended in its entirety as follows.
of this [Section 6.02(a)], present value for the Beneficiary of a deceased Participant who entered the Program before July 1, 2006 and commenced payment prior to August 12, 2015,shall be determined assuming that the Beneficiary lives the number of years equal to his or her Life Expectancy on the date of death of the Participant.
Retirement Benefit. Notwithstanding any provision of the Plan to the contrary, Stecko’s Retirement Benefit under [Section 2.1] shall be equal to the product of Stecko’s final average compensation, multiplied by his years of service, multiplied by (.0167). For purposes of this Appendix A: # “final average compensation” shall mean Stecko’s average base salary plus average bonus in the three of his final five years of service during which his base salary and bonus, determined independently, were highest; and # “years of service” shall equal five (5) plus the elapsed time from April 12, 1999 until Stecko’s termination of service. Stecko’s Retirement Benefit shall not be reduced by his PCA Pension Plan Benefit, Pactiv Pension Plan Benefit or Pactiv SERP Benefit, and shall be nonforfeitable without regard to his reason for terminating Service. If distribution of Stecko’s Retirement Benefit commences prior to age 62, a 4% per year reduction will apply.
Early Retirement Date. The [[Team Member:Person]]’s Service terminates on or after the [[Team Member:Person]]’s Early Retirement Date and the Company receives a valid unrevoked Release Agreement from the [[Team Member:Person]]. “Early Retirement Date” is the date that is # on or prior to the [[Team Member:Person]]’s termination of Service, # at or after attaining age 45 and prior to attaining age 55 and completing at least 15 years of Service (which 15 years need not be continuous), # if the [[Team Member:Person]]’s termination of Service is voluntary, at least six months after the [[Team Member:Person]] commenced discussions with the Company’s Chief Executive Officer or most senior human resources executive regarding the [[Team Member:Person]]’s consideration of termination, and # the following additional requirements are satisfied, to the extent applicable: # if the [[Team Member:Person]]’s Early Retirement Date occurs prior to the [[Team Member:Person]]’s attainment of age 48, the [[Team Member:Person]] was providing Service for at least the first 24 months of the Performance Period, # if the [[Team Member:Person]]’s Early Retirement Date occurs prior to the [[Team Member:Person]]’s attainment of age 52 and on or after attainment of age 48, the [[Team Member:Person]] was providing Service for at least the first 18 months of the Performance Period, and # if the [[Team Member:Person]]’s Early Retirement Date occurs prior to the [[Team Member:Person]]’s attainment of age 55 and on or after attainment of age 52, the [[Team Member:Person]] was providing Service for at least the first 12 months of the Performance Period.
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