Common use of Payments Commence Upon Normal Retirement Date Clause in Contracts

Payments Commence Upon Normal Retirement Date. If the Executive shall remain in the continuous employment of the Bank until attaining fifty-five (55) years of age, the Executive shall be entitled to be paid the Applicable Percentage of the Executive Benefits, as defined in Schedule B, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Executive Retires or upon such later date as may be mutually agreed upon by the Executive and the Bank in advance of said Retirement date, payable for a period of one hundred and eighty (180) months.

Payments Commence Upon Normal Retirement Date. If the Executive shall remain in the continuous employment of the Bank until attaining fiftysixty-five two (5562) years of age, the Executive shall be entitled to be paid the Applicable Percentage of the Executive Benefits, as defined in Schedule B, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Executive Retires or upon such later date as may be mutually agreed upon by the Executive and the Bank in advance of said Retirement date, payable for a period of one hundred and eighty (180) monthsuntil the Executive’s death.

Payments Commence Upon Normal Retirement Date. If the Executive shall remain in the continuous employment of the Bank until attaining fiftysixty-five two (5562) years of age, the Executive shall be entitled to be paid the Applicable Percentage of the Executive Benefits, as defined in Schedule B, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Executive Retires or upon such later date as may be mutually agreed upon by the Executive and the Bank in advance of said Retirement date, payable for a period of one hundred and eighty (180) monthsuntil the Executive's death.

Payments Commence Upon Normal Retirement Date. If the Executive shall remain in the continuous employment of the Bank until attaining fiftysixty-five four (5564) years of age, the Executive shall be entitled to be paid the Applicable Percentage of the Executive Benefits, as defined in Schedule Schedules A & B, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Executive Retires or upon such later date as may be mutually agreed upon by the Executive and the Bank in advance of said Retirement date, payable for a period of one hundred and eighty (180) monthsuntil the Executive's death.

Payments Commence Upon Normal Retirement Date. If the Executive shall remain in the continuous employment of the Bank until attaining fiftysixty-five two (5562) years of age, the Executive shall be entitled to be paid the Applicable Percentage of the Executive Benefits, as defined in Schedule Schedules A & B, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Executive Retires or upon such later date as may be mutually agreed upon by the Executive and the Bank in advance of said Retirement date, payable for a period of one hundred and eighty (180) monthsuntil the Executive's death.