Common use of Time of Commencement of SERP Benefit Clause in Contracts

Time of Commencement of SERP Benefit. If the Executive retires (other than by reason of Disability) from the services of the Company and its subsidiaries before having completed five (5) full Years of Service, he shall receive his SERP Benefit starting with the first day of the month next following the date he attains age 62. If the Executive retires (other than by reason of disability) after having completed five (5) full Years of Service, his SERP Benefit shall be paid starting with the first day of the month next following the date of his retirement. (For a description of disability benefits, see Section 2.3 below.)

Time of Commencement of SERP Benefit. If the Executive retires (other than by reason of Disability) from the services of the Company and its subsidiaries after having completed three (3) full Years of Service but before having completed five (5) full Years of Service (or before attaining age 55, even if he has completed five (5) full Years of Service), he shall receive his SERP Benefit starting with the first day of the month next following the date he attains age 62. If the Executive retires (other than by reason of disability) after having completed five (5) full Years of ServiceService and after having attained age 55, his SERP Benefit shall be paid starting with the first day of the month next following the date of his retirement. (For a description of disability benefits, see Section 2.3 below.)

Time of Commencement of SERP Benefit. If the Executive retires (other than by reason of Disability) from the services of the Company and its subsidiaries after having completed three (3) full Years of Service but before having completed five (5) full Years of Service (or before attaining age 55, even if he has completed five (5) full Years of Service), he shall receive his SERP Benefit starting with the first day of the month next following the date he attains age 62. If the Executive retires (other than by reason of disability) after having completed five (5) full Years of ServiceService and after having attained age 55, his SERP Benefit shall be paid starting with the first day of the month next following the date of his retirement. (For a description of disability benefits, see Section 2.3 below.)