Lump Sum Distribution. An amount equal to the present value of the Participant's total Reduced Retirement Benefit shall be paid to the Participant in one lump sum distribution on the first business day of the second month following the Participant's termination of employment. For purposes of determining the present value of the Participant's total Reduced Retirement Benefit, the Discount Rate which exists on the date of the Participant's termination of employment shall be used.
Appears in 4 contracts
Samples: Supplemental Executive Retirement Agreement (Regions Financial Corp), Supplemental Executive Retirement Agreement (Union Planters Corp), Supplemental Executive Retirement Agreement (Union Planters Corp)
Lump Sum Distribution. An amount equal to the present value of the Participant's total Reduced Normal Retirement Benefit shall be paid to the Participant in one lump sum distribution on the first business day of the second month following the Participant's termination of employment. For purposes of determining the present value of the Participant's total Reduced Normal Retirement Benefit, the Discount Rate which exists on the date of the Participant's termination of employment shall be used.
Appears in 2 contracts
Samples: Supplemental Executive Retirement Agreement (Union Planters Corp), Supplemental Executive Retirement Agreement (Regions Financial Corp)
Lump Sum Distribution. An amount equal to the present value of the Participant's total Reduced Normal Retirement Benefit shall be paid to the Participant in one lump sum distribution on the first business day 8 of the second month following the Participant's termination of employment. For purposes of determining the present value of the Participant's total Reduced Normal Retirement Benefit, the Discount Rate which exists on the date of the Participant's termination of employment shall be used.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (Union Planters Corp)
Lump Sum Distribution. An amount equal to the present value of the Participant's total Reduced Retirement Benefit shall be paid to the Participant in one lump sum distribution on the first business day of the second month following the Participant's termination of employment. For purposes of determining the present value of the Participant's total Reduced Retirement Benefit, the Discount Rate which that exists on the date of the Participant's termination of employment shall be used.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (Union Planters Corp)
Lump Sum Distribution. An amount equal to the present value of the Participant's total Reduced Normal Retirement Benefit shall be paid to the Participant in one lump sum distribution on the first business day of the second month following the Participant's termination of employment. For purposes of determining the present value of the Participant's total Reduced Normal Retirement Benefit, the Discount Rate which exists on the date of the Participant's Participants termination of employment shall be used.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (Union Planters Corp)
