Common use of Normal Retirement Clause in Contracts

Normal Retirement. Unless Separation from Service occurs before Normal Retirement Age and unless the Director shall have received the benefit under section 2.4 after a Change in Control, when the Director attains Normal Retirement Age the Bank shall pay to the Director the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Director’s Separation from Service after payment of benefits under this section 2.1 commences is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid to the Director.

Normal Retirement. Unless Separation from Service or a Change in Control occurs before Normal Retirement Age and unless the Director shall have received the benefit under section 2.4 after a Change in ControlAge, when the Director attains Normal Retirement Age the Bank shall pay to the Director the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Director’s Separation from Service after payment of benefits under this section 2.1 commences thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid to the DirectorDirector under this Agreement.

Normal Retirement. Unless Separation from Service occurs before Normal Retirement Age and unless the Director shall have received the benefit under section 2.4 after a Change in Control, when the Director attains Normal Retirement Age the Bank shall pay to the Director the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Director’s 's Separation from Service after payment of benefits under this section 2.1 commences is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid to the Director.