Early Termination Benefit definition

Early Termination Benefit means the benefit payable to the Executive as provided in Section 2.2.

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Early Termination Benefit means the benefit described in Section 2.2.

Early Termination Benefit means the benefit provided to the Executive under Section 2.2 of this Agreement, and as set forth in Schedule A of this Agreement, as updated annually pursuant to the terms of this Agreement. The amount of the Early Termination Benefit, as determined under Section 2.2 and as set forth in Schedule A, is a one-time, lump-sum amount to be paid to the Executive within thirty (30) days following the Executive’s Early Termination Date, or at such later date as may be required by applicable law.

Examples of Early Termination Benefit in a sentence

• The annual benefit under this Section 2.2 is the Early Termination Benefit set forth on Schedule A for the Plan Year during which the Early Termination Date occurs.

• This Agreement may be terminated only by a written agreement signed by the Company, the Bank and the Executive, in which case the Executive shall receive the Early Termination Benefit, determined as of the date the Agreement is terminated.

• The annual benefit under this Section 2.2 is the Early Termination Benefit amount set forth on Schedule A for the Plan Year ending immediately prior to the Early Termination Date.

• The benefit under this Section 2.2 is the Early Termination Benefit set forth on Schedule A for the Plan Year ending prior to Separation from Service.

• The Early Termination Benefit is the Vested Benefit determined as of the Executive’s Termination of Employment, and such Early Termination Benefit shall be paid in five (5) equal annual installments with the first installment payable in the month following the month of the Executive’s Termination of Employment and thereafter on each annual anniversary of such payment commencement date.

• The benefit under this Section 2.2 is the Early Termination Benefit set forth on Schedule A for the Plan Year during which the Early Termination Date occurs.

• On each January 1 during which the Plan is in effect and the Participant is employed by the Plan Sponsor, the Participant shall be one hundred (100%) percent vested in the Early Termination Benefit (as defined in Section 3.5).

• The annual benefit under this Section 2.2 is the Early Termination Benefit set forth on Schedule A for the Plan Year ending immediately prior to Early Termination.

• The benefit under this Section 2.2 is the Early Termination Benefit set forth in Schedule A for the Plan Year ending immediately before the Early Termination Date (except during the first Plan Year, the benefit is the amount set forth for Plan Year 1).

• The annual Early Termination Benefit to be paid to Executive under this Section 2.2 shall be the benefit amount set forth in Schedule A, Column B for the Plan Year ending immediately prior to the Executive's Early Termination Date.

More Definitions of Early Termination Benefit

Early Termination Benefit means the benefit set forth in Section 5.2.

Early Termination Benefit means (i) 50% of Projected Compensation multiplied by the Vested Percentage less (ii) the Projected Annualized 2014 SERP Benefit until the Executive reaches age 80, and 50% of Projected Compensation multiplied by the Vested Percentage thereafter.

Early Termination Benefit provided under Section 2.2, and thus the obligations of the Companies and the benefit to the Executive are not impacted by a Change of Control.