Common use of Normal Retirement SERP Benefit Clause in Contracts

Normal Retirement SERP Benefit. Upon the Participant’s termination of employment upon or after attaining Normal Retirement Age, the Participant shall receive an annual benefit of fifty percent (50%) of the Participant’s final average base salary over the immediately preceding full thirty-six (36) calendar months prior to termination of employment, paid for the period and on the terms provided herein. The Participant’s base salary calculation shall be provided by Employer’s payroll department.

Normal Retirement SERP Benefit. Upon the Participant’s 's termination of employment upon or after attaining Normal Retirement Age, the Participant shall receive an annual benefit of fifty percent (50%) of the Participant’s 's final average base salary over the immediately preceding full thirty-six (36) calendar months prior to termination of employment, paid for the period and on the terms provided herein. The Participant’s 's base salary calculation shall be provided by Employer’s 's payroll department.