SERP Benefit

SERP Benefit. The monthly benefit payable in the form of a single life annuity for the life of the Executive equal to the Applicable Percentage multiplied by the Executive's Final Average Earnings as specially defined for purposes of this SERP, offset and reduced by the Executive's monthly benefit entitlement payable in the normal single life annuity form under (i) the Funded Plan and (ii) the Harley-Davidson Pension Benefit Restoration Plan. A SERP Benefit hereunder is payable only to an Executive who is... living on the date payments are to commence to be paid to the Executive, which is deemed to be the Executive's Determination Date. "Annuity," for all purposes hereunder, means periodic payments of income and does not, under any circumstance, suggest or require that a contract from an insurance company will be obtained to provide such periodic payments. View More