Common use of Termination Under the Employment Agreement Clause in Contracts

Termination Under the Employment Agreement. In the event of the Executive’s “Termination” (as defined in the Employment Agreement) for any reason other than death or Disability prior to the Executive’s Early or Normal Retirement Date, the benefits payable under the Plan shall be vested in a percentage of the SERP Benefit equal to the fraction, not to exceed 1.0, obtained by dividing (a) by (b), where (a) equals the full calendar months of the Executive’s Service from and after January 1, 2007 and where (b) equals the full calendar months from and after January 1, 2007 until the first that would have occurred of the Executive’s Early Retirement Date (determined as if the Executive had remained in Service until attainment of his Early Retirement Date) or Normal Retirement Date.

Termination Under the Employment Agreement. In the event of the Executive’s “Termination” (as defined in the Employment Agreement) for any reason other than death or Disability prior to the Executive’s Early or Normal Retirement Date, the benefits payable under the Plan shall be vested in a percentage of the SERP Benefit equal to the fraction, not to exceed 1.0, obtained by dividing (a) by (b), where (a) equals the full calendar months of the Executive’s Service from and after January 1, 2007 and where (b) equals the full calendar months from and after January 1, 2007 until the first that would have occurred of the Executive’s Early Retirement Date (determined as if the Executive had remained in Service until attainment of his Early Retirement Date) or Normal Retirement Date.

Termination Under the Employment Agreement. In the event of the Executive’s “Termination” (as defined in the Employment Agreement) for any reason other than death or Disability prior to the Executive’s Early or Normal Retirement Date, the benefits payable under the Plan shall be vested in a percentage of the SERP Benefit equal to the fraction, not to exceed 1.0, obtained by dividing (a) by (b), where (a) equals the full calendar months of the Executive’s Service from and after January 1, 2007 the Effective Date and where (b) equals the full calendar months from and after January 1, 2007 the Effective Date until the first that would have occurred of the Executive’s Early Retirement Date (determined as if the Executive had remained in Service until attainment of his Early Retirement Date) or Normal Retirement Date.