Phantom Contributions Made Annually. If the Executive exercises his withdrawal rights pursuant to Subsection 2.2, no further Supplemental Retirement Income Benefit Contributions to the Retirement Income Trust Fund shall be required of the Bank. Thereafter, Supplemental Retirement Income Benefit Phantom Contributions shall be recorded annually, pursuant to Exhibit A, in the Executive’s Accrued Benefit Account commencing with the Plan Year following the Plan Year in which the Executive first exercises his withdrawal rights. Such Supplemental Retirement Income Benefit Contributions shall continue until the earlier of (i) the last Plan Year that Supplemental Retirement Income Benefit Phantom Contributions are required pursuant to Exhibit A, or (ii) the Plan Year in which the Executive’s employment terminates.
Appears in 4 contracts
Samples: Executive Supplemental Retirement Income Agreement (Oceanfirst Financial Corp), Executive Supplemental Retirement Income Agreement (Oceanfirst Financial Corp), Executive Supplemental Retirement Income Agreement (Oceanfirst Financial Corp)
