Separation from Service Benefit. In the event the Executive incurs a Separation from Service due to an Involuntary Termination before the Normal Retirement Date, Disability, death or Change in Control, the Bank shall pay the Monthly Benefit to him commencing on the first business day of the month following the Separation from Service and on the first business day of each calendar month thereafter for a period of 180 months. However, if the Executive is a Specified Employee on the date of his Separation from Service, such payments shall not commence until the first day of the seventh month following the date of the Executive’s Separation from Service.
Appears in 6 contracts
Samples: Supplemental Retirement Agreement (Atlantic Coast Financial CORP), Supplemental Retirement Agreement (Atlantic Coast Financial CORP), Supplemental Retirement Agreement (Atlantic Coast Financial CORP)
Separation from Service Benefit. In the event the Executive incurs a Separation from Service due to an Involuntary Termination before the Normal Retirement Date, Disability, death or Change in Control, the Bank shall pay the Monthly Benefit to him commencing on the first business day of the month following the Separation from Service and on the first business day of each calendar month thereafter for a period of 180 months. However, if the Executive is a Specified Employee on the date of his Separation from Service, such payments shall not commence until the first day of the seventh month following the date of the Executive’s 's Separation from Service.
Appears in 3 contracts
Samples: Supplemental Retirement Agreement (Atlantic Coast Financial CORP), Supplemental Retirement Agreement (Atlantic Coast Financial CORP), Supplemental Retirement Agreement (Atlantic Coast Federal Corp)
Separation from Service Benefit. In the event the Executive incurs a Separation from Service due to an Involuntary Termination before the Normal Retirement Date, Disability, death or Change in Control, the Bank shall pay the Monthly Benefit to him commencing on the first business day of the month following the Separation from Service and on the first business day of each calendar month thereafter for a period of 180 months. However, if the Executive is a Specified Employee on the date of his Separation from Service, such payments shall not commence until the first day of the seventh month following the date of the Executive’s Separation from Service.
Appears in 2 contracts
Samples: Supplemental Retirement Agreement (Atlantic Coast Federal Corp), Supplemental Retirement Agreement (Atlantic Coast Federal Corp)
Separation from Service Benefit. In the event the Executive incurs a Separation from Service due to an Involuntary Termination before the Normal Retirement Date, Disability, death or Change in Control, the Bank shall pay the Monthly Benefit to him commencing on the first business day of the month following the Separation from Service and on the first business day of each calendar month thereafter for a period of 180 months. However, if the Executive is a Specified Employee on the date of his Separation from Service, such payments shall not commence until the first day of the seventh month following the date of the Executive’s Separation from Service.the
Appears in 1 contract
Samples: Supplemental Retirement Agreement (Atlantic Coast Federal Corp)
Separation from Service Benefit. In the event the Executive incurs a Separation from Service due to an Involuntary Termination before the Normal Retirement Date, Disability, death or Change in Control, the Bank shall pay the Monthly Benefit to him commencing on the first business day of the month following the Separation from Service and on the first business day of each calendar month thereafter for a period of 180 months. However, if the Executive is a Specified Employee on the date of his Separation from Service, such payments shall not commence until the first day of the seventh month following the date of the Executive’s 's Separation from Service.
Appears in 1 contract
Samples: Supplemental Retirement Agreement (Atlantic Coast Federal Corp)
