Early Termination Benefit Sample Clauses
The Early Termination Benefit clause defines the rights and entitlements of a party if a contract is ended before its scheduled completion date. Typically, this clause outlines the specific benefits or compensation that the affected party will receive, such as a lump sum payment, reimbursement of costs, or other agreed-upon financial remedies. Its core practical function is to provide certainty and fairness by ensuring that parties are compensated for losses or investments made in anticipation of the contract’s full term, thereby reducing disputes and allocating risk in the event of early termination.
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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.
Early Termination Benefit. If the Executive terminates employment before the Early Retirement Age or Normal Retirement Age for reasons other than death or Disability, the Company shall pay to the Executive the benefit described in this Section 4.3 in lieu of any other benefits under this Agreement.
Early Termination Benefit. Upon Termination of Employment prior to Early Retirement Age for reasons other than death, Change of Control or Disability, the Bank shall pay to the Executive the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.
Early Termination Benefit. Upon Early Termination, the Company shall pay to the Executive the benefit described in this Section 2.2 in lieu of any other benefit under this Agreement.
Early Termination Benefit. If Early Termination occurs, the Employer shall pay the Executive the Early Termination benefit amount shown on Schedule A for the Plan Year ending immediately prior to Separation from Service in lieu of any other benefit hereunder. The benefit will be paid in a lump sum within sixty (60) days following Separation from Service, with the precise payment date determined by the Employer in its sole discretion.
Early Termination Benefit. Upon Early Termination, the Bank shall pay to the Director the benefit described in this Section 2.2 in lieu of any other benefit under this Article.
Early Termination Benefit. If the Director terminates service before the Early Retirement Age or Normal Retirement Age for reasons other than Change of Control, death or Disability, the Company shall pay to the Director the benefit described in the 4.3 in lieu of any other benefits under this Agreement.
Early Termination Benefit. Subject to the limitations of Article 5, upon Early Termination, the Company shall pay to the Director the annual benefit described in this Section 2.2 in lieu of any other benefit under this Agreement.
Early Termination Benefit. Unless the Executive shall have received the benefit under section 2.4 after a Change in Control, upon Early Termination the Bank shall pay to the Executive the benefit described in this section 2.2 instead of any other benefit under this Agreement.
Early Termination Benefit. For Early Termination on or after the Executive's Early Retirement Age, the Bank shall pay to the Executive the benefit described in this Section 2.2 instead of any other benefit under this Agreement.