Separation from Service Before Normal Retirement Age. If Executive has a Separation from Service prior to the attainment of his Normal Retirement Age (other than due to Cause, death or Disability), Executive shall be entitled to the Accrued Benefit payable commencing on the Benefit Eligibility Date specified in Section 1.5(b) of the Plan and payable in annual installments over the Payout Period specified in Section 1.12(a) of the Plan.
Appears in 2 contracts
Samples: Salary Continuation Agreement (First Seacoast Bancorp), Salary Continuation Agreement (First Seacoast Bancorp)
Separation from Service Before Normal Retirement Age. If Executive has a Separation from Service (other than due to Cause or death or Disability) prior to the attainment of his Normal Retirement Age (other than due to Cause, death or Disability)Age, Executive shall be entitled to the Accrued Benefit payable commencing on the Benefit Eligibility Date specified in Section 1.5(b) of the Plan and payable in annual installments over the Payout Period specified in Section 1.12(a) 1.14 of the Plan.
Appears in 2 contracts
Samples: Salary Continuation Agreement (BV Financial, Inc.), Salary Continuation Agreement (BV Financial, Inc.)
Separation from Service Before Normal Retirement Age. If Executive has a Separation from Service (other than due to Cause or death) prior to the attainment of his Normal Retirement Age (other than due to Cause, death or Disability)Age, Executive shall be entitled to the Accrued Benefit (annuitized for a period of ten (10) years using the discount rate utilized for accounting purposes as of the date of the Separation from Service) payable commencing on the Benefit Eligibility Date specified in Section 1.5(b) of the Plan and payable in annual installments over the Payout Period specified in Section 1.12(a) 1.11 of the Plan.
Appears in 1 contract
Samples: Salary Continuation Agreement (Heritage NOLA Bancorp, Inc.)
Separation from Service Before Normal Retirement Age. If Executive has experiences a Separation from Service prior to the attainment of his Normal Retirement Age (other than due to Cause, death or Disability), Executive shall be entitled to the Accrued Benefit payable commencing on the Benefit Eligibility Date specified in Section 1.5(b) of the Plan and payable in annual installments over the Payout Period specified in Section 1.12(a) 1.14 of the Plan.
Appears in 1 contract
Samples: Salary Continuation Agreement (Community Savings Bancorp, Inc.)
