Election of Benefits Upon Normal Retirement Date Sample Clauses

Election of Benefits Upon Normal Retirement Date. Pxxxxxx shall have the option, upon attaining his Normal Retirement Date, to elect to receive his Retirement Benefit, notwithstanding his continued employment with the Bank after he has attained his Normal Retirement Date. Pxxxxxx'x election to receive his Retirement Benefit notwithstanding his continued employment must be made in writing at least ninety (90) days prior to his Normal Retirement Date. The Retirement Benefit payable upon election pursuant to this paragraph 6.b shall be the amount that would have been payable had Pxxxxxx retired from service with the Bank as of his Normal Retirement Date. Any such election shall be irrevocable and shall result in the termination of Pxxxxxx'x right to any further deferrals hereunder.
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Election of Benefits Upon Normal Retirement Date. Pankuch shall have the oxxxxx, upon attaining his Normal Retirement Date, to elect to receive his Retirement Benefit, notwithstanding his continued employment with the Bank after he has attained his Normal Retirement Date. Pankuch's election xx xxxxxxe his Retirement Benefit notwithstanding his continued employment must be made in writing at least ninety (90) days prior to his Normal Retirement Date. The Retirement Benefit payable upon election pursuant to this paragraph 6.b shall be the amount that would have been payable had Pankuch retired from serxxxx xxth the Bank as of his Normal Retirement Date. Any such election shall be irrevocable and shall result in the termination of Pankuch's right to xxx xxxxxer deferrals hereunder.

Related to Election of Benefits Upon Normal Retirement Date

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • 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.

  • TERMINATION UPON RETIREMENT Termination of Executive’s employment based on “

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Cessation of Benefits An employee shall cease to be eligible for benefits of this Plan at the earliest of the following dates: (a) at the end of the month in which the employee reaches his/her sixty-fifth (65th) birthday; (b) on the date of commencement of paid absence prior to retirement; (c) on the date of termination of employment with the Employer. Benefits will not be paid when an employee is serving a prison sentence. Cessation of active employment as a regular employee shall be considered termination of employment except when an employee is on authorized leave of absence with or without pay.

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

  • Benefits Upon Plan Termination In the event this Long-Term Disability Plan is terminated, the benefit payments shall continue to be paid in accordance with the provisions of this Plan to disabled employees who became disabled while covered by this Plan prior to its termination.

  • 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.

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