Common use of Normal Retirement Benefit if Executive is Married Clause in Contracts

Normal Retirement Benefit if Executive is Married. Notwithstanding anything to the contrary in Section 2.1(a) or elsewhere, if and for so long as the Executive is married, the Normal Retirement Benefit shall be the actuarial equivalent of the benefit that would otherwise be provided in the form of a single life annuity as described in Section 2.1(a) above, but provided in the form of a joint and survivor annuity for the benefit of the Executive and his spouse with continuation of one hundred percent (100%) of the lifetime benefit to the survivor, calculated in a manner consistent with provisions of the Pension Plan providing for joint and survivor annuity benefits.

Appears in 4 contracts

Samples: Supplemental Retirement Agreement (Td Banknorth Inc.), Supplemental Retirement Agreement (Td Banknorth Inc.), Supplemental Retirement Agreement (Td Banknorth Inc.)

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Normal Retirement Benefit if Executive is Married. Notwithstanding anything to the contrary in Section 2.1(a2.1(A) or elsewhere, if and for so long as the Executive is married, the Normal Retirement Benefit shall be the actuarial equivalent of the benefit that would otherwise be provided in the form of a single life annuity as described in Section 2.1(a2.1(A) above, but provided in the form of a joint and survivor annuity for the benefit of the Executive and his spouse with continuation of one hundred percent (100%) of the lifetime benefit to the survivor, calculated in a manner consistent with provisions of the Pension Plan providing for joint and survivor annuity benefits.

Appears in 2 contracts

Samples: Supplemental Retirement Agreement (Banknorth Group Inc/Me), Supplemental Retirement Agreement (Banknorth Group Inc/Me)

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