Normal Termination Benefit Sample Clauses
The Normal Termination Benefit clause defines the standard benefits or payments an employee or party is entitled to receive upon the regular, non-cause-based end of an agreement or employment. Typically, this clause outlines the specific compensation, such as accrued salary, unused vacation, or other entitlements, that will be provided when the contract concludes as scheduled or through mutual agreement, rather than due to misconduct or breach. Its core function is to ensure both parties understand what is owed at the natural end of the relationship, thereby preventing disputes and providing financial clarity.
Normal Termination Benefit. Upon the Director's Termination of Service, the Company shall pay to the Director the benefit described in this Section 4.1.
Normal Termination Benefit. Subject to the general limitations of Article 7, upon the Director's Normal Benefit Date, the Company shall pay to the Director the benefit described in this Section 4.1 in lieu of any other benefit under this Agreement.
Normal Termination Benefit. Upon the earlier of the Director's Termination of Service or the Distribution Date, the Bank shall pay to the Director the benefit described in this Section 4.1.
Normal Termination Benefit. Upon Separation from Service on or after Normal Benefit Age, the Company shall distribute to the Director the benefit described in this Section 4.1 in lieu of any other benefit under this Article.
Normal Termination Benefit. If the Executive's Termination of Employment occurs on or after the Early Retirement Date of Normal Retirement Date for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 4.1.
Normal Termination Benefit. Upon the Executive's Normal Benefit Date, the Company shall pay to the Executive the benefit described in this Section 4.1 in lieu of any other benefit under this Agreement.