Common use of Separation from Service Prior to Benefit Age Clause in Contracts

Separation from Service Prior to Benefit Age. If I have a vested Account Balance at the time of my voluntary or involuntary Separation from Service without Cause (as defined in the Plan) prior to attainment of my Benefit Age (other than due to Death or Disability or a Change in Control), I shall be entitled to the vested portion of my Account Balance, calculated in accordance with all relevant provisions of the Plan. My Account Balance will be paid within 30 days after my Separation from Service (unless I am a “Specified Employee” as defined in the Plan) in a Lump Sum payment unless I elect otherwise by checking the box below. X In lieu of a lump sum payment, I elect Annual Installments for 10 Years (not to exceed 10 years)

Appears in 3 contracts

Samples: Participation Agreement (Pathfinder Bancorp, Inc.), Participation Agreement (Pathfinder Bancorp Inc), Pathfinder Bancorp Inc

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Separation from Service Prior to Benefit Age. If I have a vested Account Balance at the time of my voluntary Separation from Service or involuntary Separation from Service without Cause (as defined in the Plan) prior to attainment of my Benefit Age (other than due to Death or Disability or a Change in Control), I shall be entitled to the vested portion of my Account Balance, calculated in accordance with all relevant provisions of the Plan. My Account Balance will be paid within 30 thirty (30) days after my Separation from Service (unless I am a “Specified Employee” as defined in the Plan) in a Lump Sum payment unless I elect otherwise by checking the box below. X q In lieu of a lump sum payment, I elect Annual Installments for 10 Years (not to exceed 10 ten (10) years).

Appears in 2 contracts

Samples: Participation Agreement (Beverly Financial, Inc.), Participation Agreement (Beverly Financial, Inc.)

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Separation from Service Prior to Benefit Age. If I have a vested Account Balance at the time of my voluntary or involuntary Separation from Service without Cause (as defined in the Plan) prior to attainment of my Benefit Age (other than due to Death or Disability or a Change in Control), I shall be entitled to the vested portion of my Account Balance, calculated in accordance with all relevant provisions of the Plan. My Account Balance will be paid within 30 days after my Separation from Service (unless I am a “Specified Employee” as defined in the Plan) in a Lump Sum payment unless I elect otherwise by checking the box below. X q In lieu of a lump sum payment, I elect Annual Installments for 10 _____Years (not to exceed 10 years)

Appears in 1 contract

Samples: Participation Agreement (Pathfinder Bancorp Inc)

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