Normal Benefit. At Normal Benefit Age, the Bank shall pay the Director an annual benefit in the amount of Twelve Thousand Dollars ($12,000) in lieu of any other benefit hereunder. The annual benefit will be paid in equal monthly installments commencing the month following Normal Benefit Age and continuing for ten (10) years.
Appears in 5 contracts
Samples: Director Retirement Plan (Eureka Homestead Bancorp, Inc.), Director Retirement Plan (Eureka Homestead Bancorp, Inc.), Director Retirement Plan (Eureka Homestead Bancorp, Inc.)
