Amount and Payment of Benefit. An eligible employee's total lump sum or income continuation benefit shall equal one week of pay based on the employee’s base salary at the time of layoff (but excluding any shift differentials or other premiums) for each full year of Company service as of the employee's layoff date, subject to a maximum benefit of 26 weeks of pay. Eligible employees may elect either of the following:
Amount and Payment of Benefit. At the Bank’s sole discretion upon the Executive’s death, the benefit under this section 3.4 shall be either: (i) the present value, calculated at the discount rate or rates established by the Plan Administrator, at the Executive’s death of the Executive’s remaining salary continuation benefits as determined under section 2.1, 2.2, or 2.3, as applicable, paid to the Executive’s Beneficiary in a lump-sum within sixty (60) days of the Executive’s death; or (ii) the Executive’s remaining salary continuation benefits as determined under section 2.1, 2.2, or 2.3, as applicable, in the amounts specified in the applicable section, paid to the Executive’s Beneficiary at the times specified in the applicable section; provided, however, that no benefits under this Agreement shall be paid or payable to the Executive or the Executive’s Beneficiary if this Agreement is terminated under Article 5.
Amount and Payment of Benefit. An eligible employee's total lump 25 sum or income continuation benefit shall equal one (1) week of pay based on the 26 employee’s base salary at the time of layoff (but excluding any shift differentials 27 or other premiums) for each full year of Company service as of the employee's 28 layoff date, subject to a maximum benefit of twenty-six (26) weeks of pay. Eligible 29 employees may elect either of the following:
Amount and Payment of Benefit. An eligible employee’s total benefit shall equal one week of pay (i.e. 40 hours at the employee’s base rate plus cost of living adjustment in effect on the date of layoff, but excluding any shift differentials or other premiums) for each full year of Company service as of the employee’s layoff date, subject to a maximum benefit of 26 weeks of pay. Eligible employees may elect either of the following:
Amount and Payment of Benefit. Except as may be provided by Section 3.2 , the amount of benefit and method of payment under this Section 2.4 is established by the Executive with a written election and filed with the Company. The Company shall pay the elected amount to the Executive in accordance with the written election made by the Executive. The form of the election shall follow the form and content found on the attached Exhibit A. The attached Exhibit A, including the terms governing the Executive's election under this Section 2.4.1, are incorporated into this Agreement by reference.
Amount and Payment of Benefit. The benefit under this Section 2.5 is one hundred percent (100%) of the benefit determined under Schedule A based on the number of completed Plan Years, in accordance with Schedule A, on the date of Termination of Employment. The Company shall pay this benefit to the Executive in a single lump sum within thirty (30) days from Termination of Employment following a Change in Control.
Amount and Payment of Benefit. An eligible employee’s total lump sum or income 19 continuation benefit shall equal one week of pay based on the employee’s base salary at the time of 20 layoff (but excluding any shift differentials or other premiums) for each full year of Company service 21 as of the employee’s layoff date, subject to a maximum benefit of 26 weeks of pay. Eligible employees 22 may elect either of the following: 23 21.3(a) Benefits will be paid as a lump sum within a reasonable period of time following the 25 effective date of layoff. Employees who accept the voluntary layoff pursuant to the Letter of 26 Understanding related to Voluntary Layoffs shall be paid in a single lump sum. Employees who 27 elect this option will have priority consideration recall rights under Article 8 canceled. 28
Amount and Payment of Benefit. An eligible employee’s total lump sum or 23 income continuation benefit shall equal one (1) week of pay based on the employee’s base 24 salary at the time of layoff (but excluding any shift differentials or other premiums) for each 25 full year of Company service as of the employee’s layoff date, subject to a maximum benefit 26 of twenty-six (26) weeks of pay. Eligible employees may elect either of the following: 27 11.3(a) Benefits will be paid as a lump sum following the effective date of layoff. 29 Employees who elect this option will have recall rights under Article 3 canceled. 30 11.3(a)(1) Income continuation benefits will be paid in eighty (80) hour incre- 32 ments, subject to an employee’s total benefit, on regular paydays beginning 33 with the second payday following the effective date of layoff. Income contin- 34 uation benefits shall immediately cease upon the earlier of any of the follow- 35 ing events: exhaustion of the employee’s total income continuation benefit; 36 re-employment with the Company or any of its subsidiaries or affiliates; fail- 37 ure to accept a formal offer of recall from layoff within ten (10) workdays after 38 it is extended or by such later date as may be stipulated by the Company; 39 failure to report to work on the date designated by the Company; or change 40 in the employee’s employment status from layoff to resignation, dismissal, re- 41 tirement, death, or leave of absence. 42
Amount and Payment of Benefit. An eligible employee's total lump sum or 23 income continuation benefit shall equal one (1) week of pay based on the employee’s base 24 salary at the time of layoff (but excluding any shift differentials or other premiums) for each 25 full year of Company service as of the employee's layoff date, subject to a maximum benefit 26 of twenty-six (26) weeks of pay. Eligible employees may elect either of the following: 27 11.3(a) Benefits will be paid as a lump sum following the effective date of layoff. 29 Employees who elect this option will have recall rights under Article 3 canceled. 30
