Retirement Payments. Upon termination of Executive's employment due to Retirement, as provided herein, the Company will pay to the Executive the Net Retirement Benefit described below. Payment shall be made in monthly installments beginning the first day of the calendar month following termination of employment. "Retirement" shall mean the termination of Executive's employment at any time after the date hereof for any reason (other than the Company's termination of the Executive for Cause as defined herein), including termination because of a permanent disability, early retirement or after a Change in Control (as defined herein).
Appears in 4 contracts
Samples: Compensation Agreement (First Ipswich Bancorp /Ma), Executive Supplemental Compensation Agreement (First Ipswich Bancorp /Ma), Supplemental Compensation Agreement (First Ipswich Bancorp /Ma)
