The Company shall calculate the charles schwab 401k rollover bonus difference which results by subtracting (B) the value of such Participants accrued benefit under the Prior Plan Terms immediately prior to the Effective Date from (A) the value of the accrued benefit that such Participant would have earned under the Prior Plan.
(c) MAP Adjustment Bonus.No Annuity Bonus will be payable for a Bonus Year if a Participants employment is terminated for cause.Participant means an Eligible Employee selected by the Company to receive an Annuity Bonus for a given Bonus Year.Total Taxable Income (a d) 15,736.Tax Equalization Payment means an amount determined in accordance with Section 4(g) or 5(e and subject to the provisions of Section 6(e).
In addition to the receipt of the Annuity Contract in respect of the MAP Conversion Bonus, each Conversion Eligible Participant shall receive, at the time of delivery of such Annuity Contract, a Tax Equalization Payment determined in accordance with the formula (R 1 - Ti).
The following capitalized words shall have the meanings set forth below: Accumulation Interest Rate means an interest rate, which may online casino 900pay differ between classes of employees, determined each Bonus Year by the Committee.
For purposes hereof, Cause means (i) a 10 materially dishonest act or omission or misrepresentation by Employee in connection with the Companys business, the Participants gross incompetence, (ii) willful misconduct, breach of fiduciary duty involving personal profit, (iii) intentional failure to perform stated duties, willful violation of any.Committee means the Pension and Savings Plan Committee.Whether a withdrawal is by reason of retirement or disability shall be determined by the Committee.The amount of a Participants Annuity Bonus for a Bonus Year beginning on and after the Effective Date will equal the sum of (i) the Additional Pay Credit Bonus and (ii) the Net Savings Plan Bonus.If a Participant is not vested in his MAP benefit on the Effective Date, the MAP Conversion Bonus will be paid to such Participant at the same time as the first Additional Pay Credit Bonus is paid to such Participant (or, in the event.(c) Payment and Form of Payment of the MAP Conversion Bonus.The Human Resources Department of the Company will advise Eligible Employees of their continuing eligibility to receive an Annuity Bonus.The actual accumulations under the Annuity Contract will be dependent upon investment decisions made by the Participant and consequently will not have any direct relationship to any assumptions that may be used in calculating the Annuity Bonus each year.(d) Net Savings Plan Bonus.As there are many variables in calculating a Participants tax liability, the Tax Equalization Payments will not, in most cases, necessarily make a Participant whole with respect to the income and other tax liability incurred as a result of receipt of the Annuity Bonus.If a Participants employment with the Companies terminates before the end of a Bonus Year for any reason other than Cause (as defined below any amounts payable to the Participant for that Bonus Year will be based only on compensation from the Companies earned.The Annuity Contract will be distributed gone bingo players to the Conversion Eligible Participant as soon as reasonably practicable after such Annuity Contract is issued.(i) Amendment and Termination.(d) Amount of the MAP Conversion Bonus.
Compensation Limit means the limit on compensation under the MAP or the Savings Plan imposed by Section 401(a 17) of the Code.