Retirement Benefit Payments definition

Retirement Benefit Payments means the benefits determined pursuant to subparagraphs 3.1 and in accordance with Schedule “B”, and reduced or adjusted to the extent: (i) required under the other provisions of this Agreement, including, but not limited to, Paragraphs 5, 6, and 7 hereof; (ii) required by reason of the lawful order of any regulatory agency or body having jurisdiction over the Bank; or (iii) required in order for the Bank to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (e.g., FICA, FUTA, SDI).
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Retirement Benefit Payments means the benefits determined pursuant to subparagraphs 3.1 or 3.2 and in accordance with Schedule "B", and reduced or adjusted to the extent: (i) required under the other provisions of this Agreement, including, but not limited to, Paragraphs 5, 6, and 7 hereof; (ii) required by reason of the lawful order of any regulatory agency or body having jurisdiction over the Bank; or (iii) required in order for the Bank to properly comply with any and all applicable Exhibit 10.5 state and federal laws, including, but not limited to income, employment and disability income tax laws (e.g., FICA, FUTA, SDI).
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Retirement Benefit Payments means the benefits determined pursuant to subparagraphs 3.1 or 3.2 and in accordance with Schedule "B", and reduced or adjusted to the extent: (i) required under the other provisions of this Agreement, including, but not limited to, Paragraphs 5 and 7 hereof; (ii) required by reason of the lawful order of any regulatory agency or body having jurisdiction over the Bank or the Holding Company; or (iii) required in order for the Bank or the Holding Company to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (e.g., FICA, FUTA, SDI). The maximum term of any Executive Benefit or Retirement Benefit Payments payable over time under the Agreement shall be twenty-five (25) years from the first date of payment of such Executive Benefit.
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Examples of Retirement Benefit Payments in a sentence

  • To satisfy the requirements of this Section 5.2, (i) an application to the Administrative Committee for any five- (5-) year postponement must be submitted (on a form provided by the Committee) not less than three hundred sixty-five (365) days before the date prescribed for the payment of Retirement Benefit Payments to commence (as such date may have previously been postponed pursuant to this Section 5.2); and (ii) no such Payments shall have previously become due and payable.

  • If an Event of Insolvency occurs after the Retirement Benefit Commencement Date, then in lieu of any Retirement Benefit Payments due on or payable after such Date, the Participant shall thereafter only be entitled to receive a Guaranteed Net Value Payment for each month beginning after the close of the Insolvency Year and ending on or before the earlier of the Causal Termination Date or the Guaranteed Full Net Value Payout Date.

  • The Retirement Benefit Payments shall commence on the termination of the Director's service, payable annually in one (1) installment at the end of each Plan Year, and continue until the Director's death.

  • The Administrative Committee, upon application by the Participant, shall grant him one or more successive five- (5-) year postponements of the date on which payment of Retirement Benefit Payments will commence.

  • The maximum term of any Executive Benefit or Retirement Benefit Payments payable over time under the Agreement shall be twenty-five (25) years from the first date of payment of such Executive Benefit.

  • Be deemed to have attained an age equal to the Executive's actual age plus five (5) years, for purposes of commencing the Retirement Benefit Payments as provided under Section 1.B of the Executive's Plan Agreement under the ONEOK, Inc.

  • If the Applicable Percentage is one hundred percent (100%) on the date of such voluntary resignation, the Director shall be paid the Applicable Percentage of the Retirement Benefit Payments.

  • The Retirement Benefit Payments shall commence on the Director becoming Disabled, payable annually in one (1) installment at the end of each Plan Year, and continue until the director's death.

  • In the event the Director becomes Disabled while serving as a member of the Board of Directors of the Bank at any time after the Effective Date of this Agreement but prior to Retirement, the Director shall be entitled to be paid the Applicable Percentage of the Retirement Benefit Payments specified in Schedule B.

  • If the Director shall continue to serve as a member of the Board of Directors until the Normal Retirement Date, the Bank shall pay to the Director the Applicable Percentage of the Retirement Benefit Payments specified in Schedule B commencing on the Director's Retirement, payable annually in one (1) installment at the end of each Plan year, and continuing until the Director's death.