Deferred Payment Option. Under this Section 4.2, the Director may elect to defer payment of his Early Retirement Benefit until the date elected by the Director on the Election Form, not to exceed the first day of the month following his Normal Retirement Age.
Appears in 15 contracts
Samples: Incentive Retirement Agreement (Smithtown Bancorp Inc), Incentive Retirement Agreement (Smithtown Bancorp Inc), Director Incentive Retirement Agreement (First Litchfield Financial Corp)
Deferred Payment Option. Under this Section 4.2, the Director may elect to defer payment of his Early Retirement Benefit until the date elected by the Director on the Election Form, not to exceed the 103 first day of the month following his Normal Retirement Age.
Appears in 1 contract
Samples: Director Incentive Retirement Agreement (First Litchfield Financial Corp)
