Common use of Withdrawals From Retirement Income Trust Fund Clause in Contracts

Withdrawals From Retirement Income Trust Fund. Exercise of withdrawal rights by the Executive pursuant to the Xxxx X. Xxxxxxxx Grantor Trust agreement shall terminate the Bank’s obligation to make any further Supplemental Retirement Income Benefit Contributions and Supplemental ESOP Benefit Contributions to the Retirement Income Trust Fund, and the Bank’s obligation to record Supplemental Retirement Income Benefit Phantom Contributions and Supplemental ESOP Benefit Phantom Contributions in the Executive’s Accrued Benefit Account shall immediately commence pursuant to Subsection 2.1 of the Agreement. For purposes of this Subsection 2.2, “exercise of withdrawal rights” shall mean those withdrawal rights to which the Executive is entitled under Article III of the Xxxx X. Xxxxxxxx Grantor Trust agreement and shall exclude any distributions made by the trustee of the Retirement Income Trust Fund to the Executive for purposes of payment of income taxes in accordance with Subsection 2.1 of this Agreement.

Withdrawals From Retirement Income Trust Fund. Exercise of withdrawal rights by the Executive pursuant to the Xxxx X. Xxxxxxxx Xxxxx Grantor Trust agreement shall terminate the Bank’s obligation to make any further Supplemental Retirement Income Benefit Contributions and Supplemental ESOP Benefit Contributions to the Retirement Income Trust Fund, and the Bank’s obligation to record Supplemental Retirement Income Benefit Phantom Contributions and Supplemental ESOP Benefit Phantom Contributions in the Executive’s Accrued Benefit Account shall immediately commence pursuant to Subsection 2.1 of the Agreement. For purposes of this Subsection 2.2, “exercise of withdrawal rights” shall mean those withdrawal rights to which the Executive is entitled under Article III of the Xxxx X. Xxxxxxxx Xxxxx Grantor Trust agreement and shall exclude any distributions made by the trustee of the Retirement Income Trust Fund to the Executive for purposes of payment of income taxes in accordance with Subsection 2.1 of this Agreement.

Withdrawals From Retirement Income Trust Fund. Exercise of withdrawal rights by the Executive pursuant to the Xxxx Xxxxxxx X. Xxxxxxxx Xxxxxxxxxxx Grantor Trust agreement shall terminate the Bank’s obligation to make any further Supplemental Retirement Income Benefit Contributions and Supplemental ESOP Benefit Contributions to the Retirement Income Trust Fund, and the Bank’s obligation to record Supplemental Retirement Income Benefit Phantom Contributions and Supplemental ESOP Benefit Phantom Contributions in the Executive’s Accrued Benefit Account shall immediately commence pursuant to Subsection 2.1 of the Agreement. For purposes of this Subsection 2.2, “exercise of withdrawal rights” shall mean those withdrawal rights to which the Executive is entitled under Article III of the Xxxx Xxxxxxx X. Xxxxxxxx Xxxxxxxxxxx Grantor Trust agreement and shall exclude any distributions made by the trustee of the Retirement Income Trust Fund to the Executive for purposes of payment of income taxes in accordance with Subsection 2.1 of this Agreement.

Withdrawals From Retirement Income Trust Fund. Exercise of withdrawal rights by the Executive pursuant to the Xxxx X. Xxxxxxxx Xxxxxxxxx Grantor Trust agreement shall terminate the Bank’s obligation to make any further Supplemental Retirement Income Benefit Contributions and Supplemental ESOP Benefit Contributions to the Retirement Income Trust Fund, and the Bank’s obligation to record Supplemental Retirement Income Benefit Phantom Contributions and Supplemental ESOP Benefit Phantom Contributions in the Executive’s Accrued Benefit Account shall immediately commence pursuant to Subsection 2.1 of the Agreement. For purposes of this Subsection 2.2, “exercise of withdrawal rights” shall mean those withdrawal rights to which the Executive is entitled under Article III of the Xxxx X. Xxxxxxxx Xxxxxxxxx Grantor Trust agreement and shall exclude any distributions made by the trustee of the Retirement Income Trust Fund to the Executive for purposes of payment of income taxes in accordance with Subsection 2.1 of this Agreement.