Common use of Retirement Benefit Clause in Contracts

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 payable in monthly installments of $477.59 for 180 consecutive months, commencing on the first day of the month following the Director's 65th birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first.

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 145,425.60 payable in monthly installments of $477.59 807.92 for 180 consecutive months, commencing on the first day of the month following the Director's 65th birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first.

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 of$161,265.60 payable in monthly installments of $477.59 895.92 for 180 consecutive months, commencing on the first day of the month following the Director's 65th birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first. All other terms and conditions of the aforesaid Director's Compensation Agreement shall remain in full force and effect.

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 116,251.20 payable in monthly installments of $477.59 645.84 for 180 consecutive months, commencing on the first day of the month following the Director's 65th birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first.

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 45,151.20 payable in monthly installments of $477.59 250.84 for 180 consecutive months, commencing on the first day of the month following the Director's 65th birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first.

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 349,126.20 payable in monthly installments of $477.59 1,939.59 for 180 consecutive months, commencing on the first day of the month following the Director's 65th 65 birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first.

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 134,251.20 payable in monthly installments of $477.59 745.84 for 180 consecutive months, commencing on the first day of the month following the Director's 65th birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first.

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 282,180.60 payable in monthly installments of $477.59 1,567.67 for 180 consecutive months, commencing on the first day of the month following the Director's 65th birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first.

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 152,697.60 payable in monthly installments of $477.59 848.32 for 180 consecutive months, commencing on the first day of the month following the Director's 65th birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first. All other terms and conditions of the aforesaid Director's Compensation Agreement shall remain in full force and effect.

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 53,656.20 payable in monthly installments of $477.59 298.09 for 180 consecutive months, commencing on the first day of the month following the Director's 65th birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first.

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 300,256.20 payable in monthly installments of $477.59 1,668.09 for 180 consecutive months, commencing on the first day of the month following the Director's 65th birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first.

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 50,760.00 payable in monthly installments of $477.59 282.00 for 180 consecutive months, commencing on the first day of the month following the Director's 65th 65TH birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first.

Retirement Benefit. The Bank and the Company agree to pay the Director the total sum of $85,966.20 203,040.00 payable in monthly installments of $477.59 1,128.00 for 180 consecutive months, commencing on the first day of the month following the Director's 65th birthday ("Retirement Date"). Payments to the Director will terminate when all such payments have been made or at the time of the Director's death, whichever occurs first.