Common use of Termination by Reason of the Employee’s Disability Prior to Age 62 Clause in Contracts

Termination by Reason of the Employee’s Disability Prior to Age 62. In the event the Employee’s employment with the Employer terminates as the result of the Employee’s Disability prior to the Employee attaining age sixty-two (62) years, the Employee shall be entitled to be paid a normal retirement benefit in the amount, form and duration specified in Paragraph IV, commencing on the first day of the month following the Employee’s attaining age sixty-two (62) years. In the event the Employee’s employment with the Employer terminates as the result of the Employee’s Disability prior to the Employee attaining age sixty-two (62) years, the Employee may elect to receive an early retirement benefit (in lieu of the normal retirement benefit) in the amount (but not less than $0), form and duration determined under Paragraph V, except that the Applicable Percentage shall be deemed to be 100%, commencing on the first day of any month elected by the Employee following the Employee’s termination of employment with Employer (even if prior to the Employee’s attaining age fifty-nine and one-half (59 1/2) years). The Employee shall make any such election in writing delivered to the Employer or its successor not later than the earlier of (a) six (6) months prior to the termination of the Employee’s employment with Employer or (b) one (1) year prior to the date on which the early retirement benefit is to commence. Any election made after the earlier of such dates shall not take effect, and the last such election, if any, made on or before the earlier of such dates shall be effective.

Termination by Reason of the Employee’s Disability Prior to Age 62. In the event the Employee’s employment with the Employer terminates as the result of the Employee’s Disability prior to the Employee attaining age sixty-two (62) years, the Employee shall be entitled to be paid a normal retirement benefit in the amount, form and duration specified in Paragraph IV, commencing on the first day of the month following the Employee’s attaining age sixty-two (62) years. In the event the Employee’s employment with the Employer terminates as the result of the Employee’s Disability prior to the Employee attaining age sixty-two (62) years, the Employee may elect to receive an early retirement benefit (in lieu of the normal retirement benefit) in the amount (but not less than $0), form and duration determined under Paragraph V, except that the Applicable Percentage shall be deemed to be 100%, commencing on the first day of any month elected by the Employee following the Employee’s termination of employment with Employer (even if prior to the Employee’s attaining age fifty-nine and one-half (59 59-1/2) years). The Employee shall make any such election in writing delivered to the Employer or its successor not later than the earlier of (a) six (6) months prior to the termination of the Employee’s employment with Employer or (b) one (1) year prior to the date on which the early retirement benefit is to commence. Any election made after the earlier of such dates shall not take effect, and the last such election, if any, made on or before the earlier of such dates shall be effective.

Termination by Reason of the Employee’s Disability Prior to Age 62. In the event the Employee’s employment with the Employer terminates as the result of the Employee’s Disability prior to the Employee attaining age sixty-two (62) years, the Employee shall be entitled to be paid a normal retirement benefit in the amount, form and duration specified in Paragraph IV, commencing on the first day of the month following the Employee’s attaining age sixty-two (62) years. In the event the Employee’s employment with the Employer terminates as the result of the Employee’s Disability prior to the Employee attaining age sixty-two (62) years, the Employee may elect to receive an early retirement benefit (in lieu of the normal retirement benefit) in the amount (but not less than $0)amount, form and duration determined under Paragraph V, except that the Applicable Percentage shall be deemed to be 100%, commencing on the first day of any month elected by the Employee following the later of the Employee’s termination of employment with Employer (even if prior to or the Employee’s attaining age fifty-nine and one-half (59 59-1/2) years). The Employee shall make any such election in writing delivered to the Employer or its successor not later than the earlier of (a) six (6) months prior to the termination of the Employee’s employment with Employer or (b) one (1) year prior to the date on which the early retirement benefit is to commence. Any election made after the earlier of such dates shall not take effect, and the last such election, if any, made on or before the earlier of such dates shall be effective.

Termination by Reason of the Employee’s Disability Prior to Age 62. In the event the Employee’s 's employment with the Employer terminates as the result of the Employee’s 's Disability prior to the Employee attaining age sixty-two (62) years, the Employee shall be entitled to be paid a normal retirement benefit in the amount, form and duration specified in Paragraph IV, commencing on the first day of the month following the Employee’s 's attaining age sixty-two (62) years. In the event the Employee’s 's employment with the Employer terminates as the result of the Employee’s 's Disability prior to the Employee attaining age sixty-two (62) years, the Employee may elect to receive an early retirement benefit (in lieu of the normal retirement benefit) in the amount (but not less than $0), form and duration determined under Paragraph V, except that the Applicable Percentage shall be deemed to be 100%, commencing on the first day of any month elected by the Employee following the Employee’s 's termination of employment with Employer (even if prior to the Employee’s 's attaining age fifty-nine and one-half (59 59-1/2) years). The Employee shall make any such election in writing delivered to the Employer or its successor not later than the earlier of (a) six (6) months prior to the termination of the Employee’s 's employment with Employer or (b) one (1) year prior to the date on which the early retirement benefit is to commence. Any election made after the earlier of such dates shall not take effect, and the last such election, if any, made on or before the earlier of such dates shall be effective.