The Retirement. Income Benefit supplemental pre-retirement survivor annuity or post retirement survivor annuity shall be payable over the lifetime of the surviving spouse, or to eligible children to the extent provided in the Basic Retirement Plan, in monthly installments commencing on the same date as payment of the Basic Retirement Plan pre-retirement survivor annuity or post retirement survivor annuity, as the case may be, and shall terminate on the date of the last payment of the Basic Retirement Plan pre-retirement survivor annuity or post retirement survivor annuity, as the case may be.
The Retirement. Draw Benefit will be made available by means of a split-dollar insurance policy which is to be purchased by the Bank within thirty (30) days of the date of this Agreement, and for which the premium payment split between the Bank and Employee and the payment terms are outlined in Exhibit B to this Agreement.
The Retirement. Effective as of the Retirement Date, the Parties agree and acknowledge that (a) Executive’s employment with the Company will terminate and Executive will perform no further duties, functions or services on behalf of the Company or any of its subsidiaries or affiliates and (b) Executive will automatically, and without any further action from the Parties, resign from all positions with the Company and each its subsidiaries and affiliates, including any position as an officer or director.
The Retirement. The Preferred Stock Holders agree to send the Certificates evidencing the shares of Series A Preferred Stock to XA’s attorney at the following address for cancellation: The Loev Law Firm, Inc. 0000 Xxxx Xxxx Xxxxx, Xxxxx 000 Xxxxxxxx, Xxxxx 00000 The Preferred Stock Holders agree that once the Series A Preferred Stock shares are cancelled by XA and the Preferred Stock Holders receive the Payment, they will no longer have any rights to the Series A Preferred Stock nor will they retain any super majority voting rights.
