Acceleration Benefit. Upon satisfaction of the Severance Preconditions, the Company shall accelerate the vesting of your outstanding Equity Awards that are subject to time- based vesting requirements as if you had completed an additional twelve (12) months of service with the Company following the Separation Date (the “Acceleration Benefit”). For clarity, the restricted stock units granted to you on December 1, 2021 will not be subject to the Acceleration Benefit. Your rights to exercise or otherwise acquire any vested shares shall be governed and controlled by the applicable Equity Documents, as modified by Section 7 below. All terms, ‌ conditions and limitations applicable to the Equity Awards will continue to be governed by the applicable Equity Documents, subject to the provisions hereof.

Acceleration Benefit. Provided the Company has either: (i) not requested for your employment to continue immediately after a Triggering Event or (ii) has requested for your employment to continue immediately after a Triggering Event on terms significantly similar to your employment terms, including Base Salary, immediately prior to the Trigger Event, and you have not rejected such request, then, effective immediately before the consummation of a Triggering Event, any and all of your outstanding unvested equity awards of the Company shall accelerate and become fully exercisable, and any repurchase right of the Company as a result of the Triggering Event applicable to such equity award shall lapse as to all of the number of shares of capital stock of the Company underlying such equity awards In addition, the acceleration of vesting and lapse of repurchase rights provided for in the previous sentence shall occur immediately prior to the effective date of termination of your Continuous Service Status as provided in Section 7. In order to be eligible for such acceleration of vesting benefit, you must execute the Company’s standard reasonable form of mutual release of all claims agreement.

Acceleration Benefit. Please note that the Option will be subject to accelerated vesting upon a Change of Control (as defined in the Stock Option Agreement) only as explicitly set forth in the Stock Option Agreement; provided, however, that in order to be eligible for such acceleration of vesting benefit, you must execute the Company’s standard form of release of all claims agreement.

Acceleration Benefit. The vesting of the Option and RSUs as set forth in subsections (d) and (e) above shall accelerate such that all unvested Options shall become vested and exercisable and all unvested RSUs shall become vested and settled in the Company’s Common Stock upon a Change in Control (as defined in the Stock Plan) of the Company.

Acceleration Benefit. If there is a Corporate Transaction and you experience an Involuntary Termination in connection with such Corporate Transaction within two (2) months prior to such Corporate Transaction or at any time subsequent to such Corporate Transaction causing any outstanding option held by you during your continuing service to the Company to be terminated (in whole or in part) pursuant to the Stock Plan, the vesting and exercisability of each such options shall accelerate such that the options shall become vested and exercisable in full at such time and on such conditions as the Administrator shall determine. Also, if you experience an Involuntary Termination without Cause during the course of your employment with the Company, causing any outstanding option held by you during your continuing service to the Company to be terminated (in whole or in part) pursuant to the Stock Plan, the vesting and exercisability of each such option shall accelerate as follows: (1) in the event such Involuntary Termination takes place on or prior to the one year anniversary of the Commencement Date, the options shall become vested and exercisable as to 25% of the remaining unvested shares subject to the options, (2) in the event such Involuntary Termination takes place after the one year anniversary of the Commencement Date and on or prior to the two year anniversary of the Commencement Date, the options shall become vested and exercisable as to 50% of the remaining unvested shares subject to the options, (3) in the event such Involuntary Termination takes pace after the two year anniversary of the Commencement Date and on or prior to the three year anniversary of the Commencement Date, the options shall become vested and exercisable as to 75% of the remaining unvested shares subject to the options and (4) in the event such Involuntary Termination takes place after the three year anniversary of the Commencement Date and on or prior to the four year anniversary of the Commencement Date, the options shall become vested and exercisable as to 100% of the remaining unvested shares subject to the options. The Administrator shall notify you that the Option will terminate at least three (3) days prior to the date on which the Option will terminate. Provided however, that in all cases in order for you to be eligible for such acceleration of vesting benefit, you must execute the Company’s standard form of release of all claims agreement. For purposes of this paragraph, unless a capitalized term ...

Related to Acceleration Benefit

Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.
Early Termination Benefit If Early Termination occurs, the Bank shall distribute to the Executive the benefit described in this Section 2.2 in lieu of any other benefit under this Article.
Termination Benefits (a) Upon the occurrence of a Change in Control, followed at any time during the term of this Agreement by the involuntary termination of the Executive’s employment (other than for Termination for Cause or death), or by the Executive for Good Reason, the Employers shall: (i) pay the Executive, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, a lump sum payment within thirty (30) days of the Date of Termination an amount equal to three (3) times the Executive’s average annual compensation for the five most recent taxable years that the Executive has been employed by the Employers or such lesser number of years in the event that the Executive shall have been employed by the Employers for less than five years. For this purpose, annual compensation shall include base salary and any other taxable income, including, but not limited to, amounts related to the granting, vesting or exercise of restricted stock or stock option awards, commissions, bonuses, pension and profit sharing plan contributions or benefits (whether or not taxable), severance payments, retirement benefits, and fringe benefits paid or to be paid to the Executive or paid for the Executive’s benefit during any such year; and (ii) cause to be continued life insurance and non-taxable medical, dental and disability coverage substantially identical to the coverage maintained by the Employers for the Executive prior to his Date of Termination, except to the extent such coverage may be changed in its application to all employees on a nondiscriminatory basis. Such coverage and payments shall cease upon the expiration of thirty-six (36) full calendar months from the Date of Termination. (b) Notwithstanding the foregoing, to the extent required to avoid penalties under Section 409A of the Code, the cash severance payable under Section 3 of this Agreement shall be delayed until the first day of the seventh month following the Executive’s Date of Termination. (c) For purposes of this Agreement, a “termination of employment” shall mean a “Separation from Service” as defined in Section 409A of the Code and the regulations promulgated thereunder, such that the Employers and the Executive reasonably anticipate that the level of bona fide services the Executive would perform after a termination of employment would permanently decrease to a level that is less than 50% of the average level of bona fide services performed (whether as an employee or as an independent contractor) over the immediately preceding thirty-six (36) month period.
Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.
Early Retirement Benefit Upon Termination of Service prior to the Normal Retirement Age for reasons other than death, Change of Control or Disability, the Company shall pay to the Director the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.
Change in Control Benefit If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article.
Change of Control Benefit Upon a Change of Control, the Company shall pay to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Agreement.
PAYMENT OF DEATH BENEFIT The Company will require due proof of death before any death benefit is paid. Due proof of death will be:
Supplemental Retirement Benefit The Executive will be entitled to receive a monthly Supplemental Retirement Benefit (the "Supplemental Retirement Benefit") commencing on the first day of the month coincident with or following the later of the Executive's termination of employment or attainment of age 60 and continuing for the remainder of his life. Unless otherwise elected by the Executive, the Supplemental Retirement Benefit shall be payable in the form of a 50% joint and survivor annuity which shall be unreduced for the actuarial value of the survivor's benefit. If the Executive's spouse at the time of his death is not more than four years younger than the Executive, the survivor benefit shall be equal to 50% of the Executive's benefit and shall be payable to his spouse for the remainder of the spouse's life. If the Executive's spouse at the time of his death is more than four years younger than the Executive, the benefit payable to the spouse shall be reduced to a benefit having the same actuarial value as the benefit that would have been payable had the spouse been four years younger than the Executive. The Executive shall also have the right to elect a 100% joint and survivor annuity, on an actuarially-reduced basis or a lump-sum payment, on an actuarially-reduced basis (if the Executive makes a timely lump-sum election which avoids constructive receipt), or any other form of payment available or provided under the "Supplemental Plans" defined in this Section 8. Actuarial reductions shall be based on the actual ages of the Executive and his spouse at the time of retirement. If the Executive is not married at the time of his retirement, actuarial adjustments shall be made as if the Executive had a spouse with the same date of birth as the Executive. In the event that the Executive elects a form of payment other than the automatic 50% joint and survivor annuity or other than a lump sum payment, and remarries subsequent to retirement, the benefits payable under this Section shall be actuarially adjusted at the time of the Executive's death to reflect the age of the subsequent spouse. If the Executive elects a lump sum payment at retirement, no further benefits will be payable under this Section.
Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)

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