Common use of Payments in the Event Employment is Terminated Other than by Death, Disability, Termination for Cause or Retirement Clause in Contracts

Payments in the Event Employment is Terminated Other than by Death, Disability, Termination for Cause or Retirement. As indicated in Section 2 above, the Employer reserves the right to terminate the Executive’s employment, with or without cause but subject to any written employment agreement which may then exist, at any time prior to the Executive’s Retirement. In the event that the employment of the Executive shall be terminated for any reason, including voluntary termination by the Executive, but other than by reason of (i) Disability (ii) death, (iii) Termination for Cause, or (iv) Retirement, the Executive or his legal representative shall be entitled to be paid the Annual Benefit, with the Applicable Percentage as set forth in Schedule A and as determined by the applicable years of service at the time of termination of employment with the Employer, for a period of fifteen (15) years in one hundred eighty (180) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which the Executive attains sixty-five (65) years of age, except that if Executive is a “specified employee” as defined in Section 11.14, then the payment provided in this Section 5 shall be deferred as provided in Section 11.14. In addition, in the event the Executive dies after such termination as set forth in the first sentence of this Section 5, but prior to age 65 then such benefits are to be paid beginning with the month following the Executive’s death to the Executive’s designated beneficiary. If a valid Beneficiary Designation is not in effect, then such benefits due the Executive under the this paragraph shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no Surviving Spouse, then such benefits shall be paid to the duly qualified personal representative, executor or administrator of the Executive’s estate for the benefit of the Executive’s estate. In the event the Executive is entitled to benefits under the first paragraph of this Section 5, but dies at or after age 65 and before receiving all of the monthly payments described in the first paragraph of this Section 5, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary. If the Executive dies without a valid beneficiary designation, then such benefits due the Executive under the this paragraph shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no Surviving Spouse, then such benefits shall be paid to the duly qualified personal representative, executor or administrator of the Executive’s estate for the benefit of the Executive’s estate. Executive agrees that the payment of benefits pursuant to this Section 5 to the extent Executive is entitled to such benefits is in lieu of any other benefits under this Agreement.

Payments in the Event Employment is Terminated Other than by Death, Disability, Termination for Cause or Retirement. As indicated in Section Paragraph 2 above, the Employer reserves the right to terminate the Executive’s employment, with or without cause but subject to any written employment agreement which may then exist, at any time prior to the Executive’s Retirement. In the event that the employment of the Executive shall be terminated for any reason, including voluntary termination by the Executive, but other than by reason of (i) Disability except as provided in Paragraph 4.2, (ii) death, (iii) Termination for Cause, or (iv) RetirementRetirement or (v) termination in a Sale of Business, the Executive or his legal representative shall be entitled to be paid the Annual Benefit, with the Applicable Percentage as set forth in Schedule A and as determined by the applicable years of service at the time of termination of employment with the Employer, for a period of fifteen (15) years in one hundred eighty (180) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which the Executive terminates employment and attains sixty-five (65) years of age, except that if Executive is a “specified employee” as defined in Section 11.14, then the payment provided in this Section 5 shall be deferred as provided in Section 11.14. In addition, however in the event the Executive dies after such termination as set forth in the first sentence of this Section 5, but prior to age 65 then such benefits are to be paid beginning with the month following the Executive’s death to the Executive’s designated beneficiary. If a valid Beneficiary Designation is not in effect, then such benefits due the Executive under the this paragraph shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no Surviving Spouse, then such benefits shall be paid to the duly qualified personal representative, executor or administrator of the Executive’s estate for the benefit of the Executive’s estate. In the event the Executive is entitled to benefits under the first paragraph of this Section 5, but dies at or after age 65 and before receiving the all of the monthly payments described in the first paragraph of this Section 5one hundred eighty (180) payments, the Employer will agrees to make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's ’s designated beneficiary. In the event Executive is entitled to benefit payments pursuant to this Paragraph 5 and dies before sixty-five (65), the Employer agrees to make such payments beginning with the month following the month of the Executive’s death, undiminished and on the same schedule as if the Executive had not died, to the Executive’s designated beneficiary. If the Executive dies without a valid beneficiary designationBeneficiary Designation is not in effect, then such benefits the remaining amounts due to the Executive under the term of this paragraph Agreement shall be paid to the Executive’s Surviving Spouse, and if . If the Executive leaves no Surviving Spouse, then such benefits the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive’s estate for estate. Notwithstanding anything to the contrary, no benefit of the payments provided in this Paragraph 5 shall be made to Executive, Executive’s estate. Executive agrees that designated beneficiary, Surviving Spouse or Executive’s estate if the payment of benefits pursuant to this Section 5 to the extent Executive is entitled to such benefits is in lieu of provided by any other benefits under Paragraph of this Agreement.

Payments in the Event Employment is Terminated Other than by Death, Disability, Termination for Cause or Retirement. As indicated in Section Paragraph 2 above, the Employer reserves the right to terminate the Executive’s employment, with or without cause but subject to any written employment agreement which may then exist, at any time prior to the Executive’s Retirement. In the event that the employment of the Executive shall be terminated for any reason, including voluntary termination by the Executive, but other than by reason of (i) Disability except as provided in Paragraph 4.2, (ii) death, (iii) Termination for Cause, or (iv) RetirementRetirement or (v) termination for Sale of Business, the Executive or his legal representative shall be entitled to be paid the Annual Benefit, with the Applicable Percentage as set forth in Schedule A and as determined by the applicable years of service at the time of termination of employment with the Employer, for a period of fifteen (15) 15 years in one hundred eighty (180) 180 equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which the Executive terminates employment and attains sixty-five (65) years of ageage 67, except that if Executive is a “specified employee” as defined in Section 11.14, then the payment provided in this Section 5 shall be deferred as provided in Section 11.14. In addition, however in the event the Executive dies after such termination as set forth in the first sentence of this Section 5, but prior to age 65 then such benefits are to be paid beginning with the month following the Executive’s death to the Executive’s designated beneficiary. If a valid Beneficiary Designation is not in effect, then such benefits due the Executive under the this paragraph shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no Surviving Spouse, then such benefits shall be paid to the duly qualified personal representative, executor or administrator of the Executive’s estate for the benefit of the Executive’s estate. In the event the Executive is entitled to benefits under the first paragraph of this Section 5, but dies at or after age 65 and before receiving all of the monthly payments described in the first paragraph of this Section 5180 payments, the Employer will agrees to make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's ’s designated beneficiary. If the Executive dies without beneficiary and if a valid beneficiary designationBeneficiary Designation is not in place, then such benefits due the Executive under the this paragraph payments shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no there is neither a valid Beneficiary Designation nor Surviving Spouse, then such benefits the payments shall be paid to the duly qualified personal representative, executor executor, or administrator of the Executive’s estate for estate. In the event Executive is entitled to benefit payments pursuant to this Paragraph 5 and dies prior to age 67, then such benefits, undiminished and on the same schedule as if the Executive had not died, are to be paid beginning with the month following the Executive’s death to Executive’s designated beneficiary and if a valid Beneficiary Designation is not in place, then the payments shall be paid to the Executive’s Surviving Spouse, and if there is neither a valid Beneficiary Designation nor Surviving Spouse, the payments shall be paid to the duly qualified personal representative, executor, or administrator of the Executive’s estate. Notwithstanding anything to the contrary, the Executive agrees that the payment of benefits shall not be entitled to be paid any benefit pursuant to this Section 5 the prior paragraph if Executive voluntarily terminates employment with the Employer prior to the extent Executive is entitled to such benefits is in lieu end of any other benefits under this Agreementthe second anniversary of the Effective Date.

Payments in the Event Employment is Terminated Other than by Death, Disability, Termination for Cause or Retirement. As indicated in Section 2 above, the Employer reserves the right to terminate the Executive’s employment, with or without cause but subject to any written employment agreement which may then exist, at any time prior to the Executive’s Retirement. In the event that the employment of the Executive shall be terminated for any reason, including voluntary termination by the Executive, but other than by reason of (i) Disability (ii) death, (iii) Termination for Cause, or (iv) Retirement, the Executive or his legal representative shall be entitled to be paid the Annual Benefit, with the Applicable Percentage as set forth in Schedule A and as determined by the applicable years of service at the time of termination of employment with the Employer, for a period of fifteen (15) years in one hundred eighty (180) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which the Executive attains sixtyfifty-five nine (6559) years of age, except that if Executive is a “specified employee” as defined in Section 11.14, then the payment provided in this Section 5 shall be deferred as provided in Section 11.14. In addition, in the event the Executive dies after such termination as set forth in the first sentence of this Section 5, but prior to age 65 59 then such benefits are to be paid beginning with the month following the Executive’s death to the Executive’s designated beneficiary. If a valid Beneficiary Designation is not in effect, then such benefits due the Executive under the this paragraph shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no Surviving Spouse, then such benefits shall be paid to the duly qualified personal representative, executor or administrator of the Executive’s estate for the benefit of the Executive’s estate. In the event the Executive is entitled to benefits under the first paragraph of this Section 5, but dies at or after age 65 59 and before receiving all of the monthly payments described in the first paragraph of this Section 5, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary. If the Executive dies without a valid beneficiary designation, then such benefits due the Executive under the this paragraph shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no Surviving Spouse, then such benefits shall be paid to the duly qualified personal representative, executor or administrator of the Executive’s estate for the benefit of the Executive’s estate. Executive agrees that the payment of benefits pursuant to this Section 5 to the extent Executive is entitled to such benefits is in lieu of any other benefits under this Agreement.

Payments in the Event Employment is Terminated Other than by Death, Disability, Termination for Cause or Retirement. As indicated in Section Paragraph 2 above, the Employer reserves the right to terminate the Executive’s employment, with or without cause but subject to any written employment agreement which may then exist, at any time prior to the Executive’s Retirement. In the event that the employment of the Executive shall be terminated for any reason, including voluntary termination by the Executive, but other than by reason of (i) Disability except as provided in Paragraph 4.2, (ii) death, (iii) Termination for Cause, or (iv) RetirementRetirement or (v) termination for Sale of Business, the Executive or his legal representative shall be entitled to be paid the Annual Benefit, with the Applicable Percentage as set forth in Schedule A and as determined by the applicable years of service at the time of termination of employment with the Employer, for a period of fifteen (15) 15 years in one hundred eighty (180) 180 equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which the Executive terminates employment and attains sixty-five (65) years of ageage 66, except that if Executive is a “specified employee” as defined in Section 11.14, then the payment provided in this Section 5 shall be deferred as provided in Section 11.14. In addition, however in the event the Executive dies after such termination as set forth in the first sentence of this Section 5, but prior to age 65 then such benefits are to be paid beginning with the month following the Executive’s death to the Executive’s designated beneficiary. If a valid Beneficiary Designation is not in effect, then such benefits due the Executive under the this paragraph shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no Surviving Spouse, then such benefits shall be paid to the duly qualified personal representative, executor or administrator of the Executive’s estate for the benefit of the Executive’s estate. In the event the Executive is entitled to benefits under the first paragraph of this Section 5, but dies at or after age 65 and before receiving all of the monthly payments described in the first paragraph of this Section 5180 payments, the Employer will agrees to make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's ’s designated beneficiary. If the Executive dies without beneficiary and if a valid beneficiary designationBeneficiary Designation is not in place, then such benefits due the Executive under the this paragraph payments shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no there is neither a valid Beneficiary Designation nor Surviving Spouse, then such benefits the payments shall be paid to the duly qualified personal representative, executor executor, or administrator of the Executive’s estate for estate. In the event Executive is entitled to benefit payments pursuant to this Paragraph 5 and dies prior to age 66, then such benefits, undiminished and on the same schedule as if the Executive had not died, are to be paid beginning with the month following the Executive’s death to Executive’s designated beneficiary and if a valid Beneficiary Designation is not in place, then the payments shall be paid to the Executive’s Surviving Spouse, and if there is neither a valid Beneficiary Designation nor Surviving Spouse, the payments shall be paid to the duly qualified personal representative, executor, or administrator of the Executive’s estate. Notwithstanding anything to the contrary, the Executive agrees that the payment of benefits shall not be entitled to be paid any benefit pursuant to this Section 5 the prior paragraph if Executive voluntarily terminates employment with the Employer prior to the extent Executive is entitled to such benefits is in lieu end of any other benefits under this Agreementthe second anniversary of the Effective Date.

Payments in the Event Employment is Terminated Other than by Death, Disability, Termination for Cause or Retirement. As indicated in Section 2 above, the Employer reserves the right to terminate the Executive’s employment, with or without cause but subject to any written employment agreement which may then exist, at any time prior to the Executive’s Retirement. In the event that the employment of the Executive shall be terminated for any reason, including voluntary termination by the Executive, but other than by reason of (i) Disability Disability, (ii) death, (iii) Termination for Cause, or (iv) Retirement, the Executive or his legal representative shall be entitled to be paid the Annual Benefit, with the Applicable Percentage as set forth in Schedule A and as determined by the applicable years of service at the time of termination of employment with the Employer, for a period of fifteen (15) years in one hundred eighty (180) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which the Executive attains sixty-five one (6561) years of age, except that if Executive is a “specified employee” as defined in Section 11.14, then the payment provided in this Section 5 shall be deferred as provided in Section 11.14. In addition, in the event the Executive dies after such termination as set forth in the first sentence of this Section 5, but prior to age 65 61 then such benefits are to be paid beginning with the month following the Executive’s 's death to the Executive’s designated beneficiary. If a valid Beneficiary Designation is not in effect, then such benefits due the Executive under the this paragraph shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no Surviving Spouse, then such benefits shall be paid to the duly qualified personal representative, executor or administrator of the Executive’s estate for the benefit of the Executive’s estate. In the event the Executive is entitled to benefits under the first paragraph of this Section 5, but dies at or after age 65 61 and before receiving all of the monthly payments described in the first paragraph of this Section 5, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary. If the Executive dies without a valid beneficiary designation, then such benefits due the Executive under the this paragraph shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no Surviving Spouse, then such benefits shall be paid to the duly qualified personal representative, executor or administrator of the Executive’s estate for the benefit of the Executive’s estate. Executive agrees that the payment of benefits pursuant to this Section 5 to the extent Executive is entitled to such benefits is in lieu of any other benefits under this Agreement.

Payments in the Event Employment is Terminated Other than by Death, Disability, Termination for Cause or Retirement. As indicated in Section 2 above, the Employer reserves the right to terminate the Executive’s employment, with or without cause but subject to any written employment agreement which may then exist, at any time prior to the Executive’s Retirement. In the event that the employment of the Executive shall be terminated for any reason, including voluntary termination by the Executive, but other than by reason of (i) Disability (ii) death, (iii) Termination for Cause, or (iv) Retirement, the Executive or his legal representative shall be entitled to be paid the Annual Benefit, with the Applicable Percentage as set forth in Schedule A and as determined by the applicable years Years of service Service at the time of termination of employment with the Employer, for a period of fifteen twelve (1512) years in one hundred eighty (180) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which the Executive attains sixty-five three (6563) years of age, except that if Executive is a “specified employee” as defined in Section 11.14, then the payment provided in this Section 5 shall be deferred as provided in Section 11.14. In addition, in the event the Executive dies after such termination as set forth in the first sentence of this Section 5, but prior to age 65 63 then such benefits are to be paid beginning with the month following the Executive’s death to the Executive’s designated beneficiary. If a valid Beneficiary Designation is not in effect, then such benefits due the Executive under the this paragraph shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no Surviving Spouse, then such benefits shall be paid to the duly qualified personal representative, executor or administrator of the Executive’s estate for the benefit of the Executive’s estate. In the event the Executive is entitled to benefits under the first paragraph of this Section 5, but dies at or after age 65 63 and before receiving all of the monthly payments described in the first paragraph of this Section 5, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary. If the Executive dies without a valid beneficiary designation, then such benefits due the Executive under the this paragraph shall be paid to the Executive’s Surviving Spouse, and if the Executive leaves no Surviving Spouse, then such benefits shall be paid to the duly qualified personal representative, executor or administrator of the Executive’s estate for the benefit of the Executive’s estate. Executive agrees that the payment of benefits pursuant to this Section 5 to the extent Executive is entitled to such benefits is in lieu of any other benefits under this Agreement.