Payments Commence Upon Normal Retirement. In the event the Executive remains in the continuous employment of the Bank until attaining at least the Normal Retirement Age, then the Executive shall be entitled to be paid a one hundred percent (100%) Applicable Percentage of the Executive Benefit. Payments shall commence on the first day of the month following the month in which the Executive Retires and shall continue for a period of one hundred and eighty (180) months.
Appears in 4 contracts
Samples: Executive Supplemental Compensation Agreement (Pacific Financial Corp), Executive Supplemental Compensation Agreement (Pacific Financial Corp), Executive Supplemental Compensation Agreement (Pacific Financial Corp)
