Vested Insurance Benefit. If the Executive has a Vested Insurance Benefit, the Bank may amend or terminate this Agreement for the Executive only if (i) the Executive agrees to such action, or (ii) the Bank’s banking regulators issue a written directive to amend or terminate the Agreement.
Vested Insurance Benefit. If a Participant has a Vested Insurance Benefit, the Bank may amend or terminate the Plan for that Participant only if: (1) continuation of the Plan would cause significant financial harm to the Bank and (2) the Participant agrees to such action.
Vested Insurance Benefit. The Executive shall have a Vested Insurance Benefit equal to the amount specified in Section 2.2 at the earliest of the following events:
3.1.1 Attainment of age sixty-five (65) while in the employ of the Bank; or
3.1.2 Adoption, by the Board at its discretion, of a resolution entitling the Executive to the Vested Insurance Benefit in Section 2.2 under circumstances not otherwise addressed in this Section 3.1.
Vested Insurance Benefit. The Director shall have a Vested Insurance Benefit equal to the amount specified in Section 2.2 at the earliest of the following events:
3.1.1 Attainment of age seventy (70) prior to Separation from Service;
3.1.2 Attainment of age sixty (60) and twenty (20) Years of Service with the Bank;
3.1.3 Separation from Service due to Disability;
3.1.4 A Change in Control prior to Separation from Service; or
3.1.5 Adoption, by the Board at its discretion, of a resolution entitling the Director to the Vested Insurance Benefit in Section 2.2 under circumstances not otherwise addressed in this Section 3.1.
Vested Insurance Benefit. If the Director has a Vested Insurance Benefit, the Bank may amend or terminate the Agreement only if: (i) continuation of the Agreement would cause significant financial harm to the Bank, (ii) the Director agrees to such action, or (iii) the Bank’s banking regulator(s) issues a written directive to amend or terminate the Agreement.
Vested Insurance Benefit. The Executive shall have a Vested Insurance Benefit equal to the amount specified in Section 3.2.2 at the earliest of the following events:
4.1.1 Remaining in the continuous employ of the Bank until age sixty-five (65);
4.1.2 Remaining in the continuous employ of the Bank until the Executive’s age plus Years of Service equals sixty-five (65);
4.1.3 Termination of Employment due to Disability;
4.1.4 Being employed by the Bank at the date a Change in Control occurs, followed by a termination of the Executive’s employment, or
4.1.5 At the discretion of the Board, the Executive may be deemed to have a Vested Insurance Benefit sooner than provided in Sections 4.1.1 through 4.1.4 above if there are other circumstances not addressed in such sections.
Vested Insurance Benefit. The Participant shall have a Vested Insurance Benefit equal to the amount specified in Section 4.2 at the earliest of the following events:
5.1.1 Remaining in continuous employment with the Bank until age 65;
5.1.2 Remaining in continuous employment with the Bank until the Participant's age plus Years of Service, when combined, equals or exceeds 70;
5.1.3 Remaining in continuous employment with the Bank for five years from the date of entry into the Plan;
Vested Insurance Benefit. The Participant shall have a Vested Insurance Benefit equal to Four Times Total Compensation at the earliest of the following events:
5.1.1 Reaching age 55 while employed by the Company and having a minimum of 10 Years of Service;
Vested Insurance Benefit. The Director shall have a Vested Insurance Benefit equal to the Director's interest as set forth in paragraph 2.2 herein at the earliest of the following events:
3.1.1 If death occurs while the Director is a member of the Board of Directors of the Bank or the Corporation;
3.1.2 Continuing to serve on the Board until the combination of the Director's age and Years of Service equals or exceeds 72;
3.1.3 Termination of Service on or after age 65;
Vested Insurance Benefit. The Executive shall have a Vested Insurance Benefit equal to the amount specified in Section 2. at the earliest of the following events:
3.1.1 Attainment of age sixty-two (62) while in the employ of the Bank
3.1.2 Completion of twenty (20) Years of Service with the Bank;
3.1.3 Attainment of age fifty-five (55) while in the employ of the Bank and completion of ten (10) Years of Service;
3.1.4 Separation from Service due to Disability;
3.1.5 A Change in Control while employed by the Bank; or
3.1.6 Adoption, by the Board at its discretion, of a resolution entitling the Executive to the Vested Insurance Benefit in Section 2.2 under circumstances not otherwise addressed in this Section 3.1.
