Vested Accrued Benefit. If Separation from Service occurs on or after the Initial Vesting Date, the annual benefit under this section 2.2A shall be the vested Accrued Benefit determined as of the end of the month immediately before the month in which Separation from Service occurs. The vested Accrued Benefit shall be determined by application of the vesting schedule set forth in Schedule A. If Separation from Service occurs before the Initial Vesting Date, the benefit shall be forfeited in its entirety. However, if Separation from Service occurs after a Change in Control, Early Termination benefits shall be governed solely by section 2.2B or Section 2.4, and this section 2.2A shall thereafter be of no further force or effect.
Appears in 4 contracts
Samples: Continuation Agreement (Paragon Commercial CORP), Continuation Agreement (Paragon Commercial CORP), Continuation Agreement (Paragon Commercial CORP)
