Contributions on Early or Normal Retirement. If the Executive does not exercise his withdrawal rights pursuant to Subsection 2.2, and terminates employment on or after attainment of his Early Retirement Age or Normal Retirement Age, within thirty (30) days of such termination of employment, the Bank shall be required to make an immediate additional lump sum Contribution to the Executive's Retirement Income Trust Fund, if necessary, in an amount sufficient to provide the Executive with after tax benefits (assuming a constant tax rate equal to the rate in effect as of the date of the Executive's termination) beginning at his Benefit Age, equal in amount to that benefit which would have been payable to the Executive if no secular trust had been implemented and the benefit obligation had been accrued under APB Opinion No. 12, as amended by FAS 106.
Appears in 7 contracts
Samples: Supplemental Retirement Income Agreement (United National Bancorp), Supplemental Retirement Income Agreement (United National Bancorp), Supplemental Retirement Income Agreement (United National Bancorp)
