Common use of Additional Retirement Benefits Clause in Contracts

Additional Retirement Benefits. Effective as of the Termination Date, the Executive’s interest in all Relevant Plans shall become fully vested and nonforfeitable. In addition, Key shall provide to the Executive, at the time specified in Section 1.5, an additional retirement benefit which shall equal the benefits that Executive otherwise would have been entitled to receive under the Retirement Plan, the Supplemental Retirement Plan and the Savings Plan had Executive remained an active full time employee of Key during the period beginning on the Termination Date and ending on the third anniversary of the Termination Date (the “36-month Continuing Benefit Period”). In calculating Executive’s additional retirement benefit under the respective Plans (i) the entire 36-month Continuing Benefit Period shall be included for purposes of determining Executive’s years of service for both vesting and benefit accrual purposes, (ii) the amount to be provided to Executive under clause 1.1(b)(i) will be deemed to be Executive’s base salary paid ratably during the 36-month Continuing Benefit Period, (iii) the amount to be provided to Executive under clause 1.1(b)(ii) will be deemed to be Executive’s incentive compensation paid ratably during the 36-month Continuing Benefit Period, and (iv) the rate of employer matching contributions allocated under the Savings Plan shall reflect Executive’s rate of employer matching contributions under such Plans immediately prior to the Termination Date. The payment of Executive’s additional retirement benefit, as if accrued under the Retirement Plan and the Supplemental Retirement Plan, shall be paid to Executive as an annuity payment in a form elected by Executive under the annuity benefit payment options otherwise provided under the Retirement Plan and Supplemental Retirement Plan, and the additional retirement benefit payment as if accrued under the Savings Plan shall be paid to Executive in a single lump sum cash payment.

Additional Retirement Benefits. Effective as of the Termination Date, the Executive’s interest in all Relevant Plans shall become fully vested and nonforfeitable. In addition, Key shall provide pay to the Executive, at the time specified in Section 1.5, 1.5 an additional retirement benefit which that shall equal the benefits that Executive otherwise would have been entitled to receive under the Retirement Plan, the Supplemental Retirement Plan and the Savings Plan had Executive remained an active full time employee of Key during the period beginning on the Termination Date and ending on the third anniversary of eighteen months following the Termination Date (the “3618-month Continuing Benefit Period”). In calculating Executive’s additional retirement benefit under the respective Plans (i) the entire 3618-month Continuing Benefit Period shall be included for purposes of determining Executive’s years of service for both vesting and benefit accrual purposes, (ii) the amount to be provided to Executive under clause 1.1(b)(i1.2(b)(i) will be deemed to be Executive’s base salary paid ratably during the 3618-month Continuing Benefit Period, (iii) the amount amounts to be provided to Executive under clause 1.1(b)(ii1.2(b)(ii) will be deemed to be Executive’s incentive compensation paid ratably during the 3618-month Continuing Benefit Period, and (iv) the rate of employer matching contributions allocated under the Savings Plan shall reflect Executive’s rate of employer matching contributions under such Plans immediately prior to the Termination Date. The payment of Executive’s additional retirement benefit, as if accrued under the Retirement Plan and the Supplemental Retirement Plan, shall be paid to Executive as an annuity payment in a form elected by Executive under the annuity benefit payment options otherwise provided under the Retirement Plan and Supplemental Retirement Plan, and the additional retirement benefit payment as if accrued under the Savings Plan shall be paid to Executive in a single lump sum cash payment.

Additional Retirement Benefits. Effective as of the Termination Date, the Executive’s interest in all Relevant Plans shall become fully vested and nonforfeitable. In addition, Key shall provide pay to the Executive, at the time specified in Section 1.5, 1.5 an additional retirement benefit which that shall equal the benefits that Executive otherwise would have been entitled to receive under the Retirement Plan, the Supplemental Retirement Plan and the Savings Plan had Executive remained an active full time employee of Key during the period beginning on the Termination Date and ending on the third anniversary of eighteen months following the Termination Date (the “3618-month Continuing Benefit Period”). In calculating Executive’s additional retirement benefit under the respective Plans (i) the entire 3618-month Continuing Benefit Period shall be included for purposes of determining Executive’s years of service for both vesting and benefit accrual purposes, (ii) the amount to be provided to Executive under clause 1.1(b)(i1.2(b)(i) will be deemed to be Executive’s base salary paid ratably during the 3618-month Continuing Benefit Period, (iii) the amount amounts to be provided to Executive under clause 1.1(b)(ii1.2(b)(ii) will be deemed to be Executive’s incentive compensation paid ratably during the 36-18 month Continuing Benefit Period, and (iv) the rate of employer matching contributions allocated under the Savings Plan shall reflect Executive’s rate of employer matching contributions under such Plans immediately prior to the Termination Date. The payment of Executive’s additional retirement benefit, as if accrued under the Retirement Plan and the Supplemental Retirement Plan, shall be paid to Executive as an annuity payment in a form elected by Executive under the annuity benefit payment options otherwise provided under the Retirement Plan and Supplemental Retirement Plan, and the additional retirement benefit payment as if accrued under the Savings Plan shall be paid to Executive in a single lump sum cash payment.

Additional Retirement Benefits. Effective as of the Termination Date, the Executive’s interest in all Relevant Plans shall become fully vested and nonforfeitable. In addition, Key shall provide to the Executive, at the time specified in Section 1.5, an additional retirement benefit which shall equal the benefits that Executive otherwise would have been entitled to receive under the Retirement Plan, the Supplemental Retirement Plan and the Savings Plan had Executive remained an active full time employee of Key during the period beginning on the Termination Date and ending on the third second anniversary of the Termination Date (the “3624-month Continuing Benefit Period”). In calculating Executive’s additional retirement benefit under the respective Plans (i) the entire 3624-month Continuing Benefit Period shall be included for purposes of determining Executive’s years of service for both vesting and benefit accrual purposes, (ii) the amount to be provided to Executive under clause 1.1(b)(i) will be deemed to be Executive’s base salary paid ratably during the 3624-month Continuing Benefit Period, (iii) the amount to be provided to Executive under clause 1.1(b)(ii) will be deemed to be Executive’s incentive compensation paid ratably during the 3624-month Continuing Benefit Period, and (iv) the rate of employer matching contributions allocated under the Savings Plan shall reflect Executive’s rate of employer matching contributions under such Plans immediately prior to the Termination Date. The payment of Executive’s additional retirement benefit, as if accrued under the Retirement Plan and the Supplemental Retirement Plan, shall be paid to Executive as an annuity payment in a form elected by Executive under the annuity benefit payment options otherwise provided under the Retirement Plan and Supplemental Retirement Plan, and the additional retirement benefit payment as if accrued under the Savings Plan shall be paid to Executive in a single lump sum cash payment.