Common use of Deferred Retirement Benefit Clause in Contracts

Deferred Retirement Benefit. If the Director satisfies the requirements of Article 2 and remains in continuous service as a member of the Board of Directors of the Bank from the Effective Date of this Agreement until his Deferred Retirement Date, the Bank shall pay to the Director the benefit described in this Section 3.3 in lieu of any other benefit under this Agreement.

Deferred Retirement Benefit. If the Director satisfies the requirements of Article 2 and remains in continuous service as a member of the Board of Directors of the Bank or ESB Financial from the Effective Date of this Agreement until his Deferred Retirement Date, the Bank Corporation shall pay to the Director the benefit described in this Section 3.3 in lieu of any other benefit under this Agreement.