Early Retirement Benefit. If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.
Early Retirement Benefit. Upon Termination of Service prior to the Normal Retirement Age for reasons other than death, Change of Control or Disability, the Company shall pay to the Director the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.
Early Retirement Benefit. Upon Termination of Employment prior to the Normal Retirement Age for reasons other than death, Change of Control or Disability, the Company shall pay to the Executive the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.
Early Retirement Benefit. Upon Early Retirement, the Bank shall pay to the Executive the benefit described in this Section 2.2 in lieu of any other benefit under this Agreement.
Early Retirement Benefit. If the Executive Separates from Service before the Executive’s Normal Retirement Date for reasons other than death and a Change of Control has not occurred, the Bank shall pay to the Executive the benefit described in this Section 2.2.
Early Retirement Benefit. Upon the Executive’s Early Retirement Date, the Executive shall receive the benefit described in this Section 2.2 in lieu of any other benefit under Article 2 of this Agreement.
Early Retirement Benefit. Upon Separation from Service for any reason other than Termination for Cause or Disability prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.2 in lieu of any other benefit under this Article.
Early Retirement Benefit. If Early Retirement occurs, the Bank shall distribute to the Executive the benefit described in this Section 4.2 in lieu of any other benefit under this Article.
Early Retirement Benefit. This Section 5.2 describes the Retirement benefit payable by the Corporation in the event Employee Retires prior to his Normal Retirement Date. Employee may Retire from employment with the Corporation prior to his Normal Retirement Date on the first day of any month coincident with or next following the date he satisfies the vesting requirements of section 4.1. The date on which Employee Retires under this Section 5.2 shall be his Early Retirement Date. Employee's Early Retirement Benefit shall be paid in the form of an Actuarially Equivalent lump sum, as set forth in Section 5.3(a), unless Employee makes the election described in Section 5.3(b).
Early Retirement Benefit. An Active Participant who has satisfied the age and service requirements for early retirement shall be entitled to receive as of his Normal Retirement Date a monthly Standard Form of Retirement income equal to one-twelfth (1/12th) of his Accrued Benefit. Alternatively, such Participant may elect that the Early Retirement Benefit commence on the Participant's Early Retirement Date or on the first day of any following month prior to his Normal Retirement Date. If the Participant so elects to have benefits commence prior to his Normal Retirement Date, his annual retirement benefit shall be an amount equal to his Accrued Benefit payable at Normal Retirement Date reduced by one-fifteenth (1/15th) for each of the first five (5) years, one-thirtieth (1/30th) for each of the next five (5) years, and actuarially reduced for each additional year by which the Participant's Annuity Starting Date precedes his Normal Retirement Date. If benefits commence to a Participant at a time other than Normal Retirement Age, the Participant's Accrued Benefit will be multiplied by a fraction, the numerator of which is the annual factor that corresponds to the age at which benefits commence to the Participant in the Standard Form of Retirement Income, and the denominator of which is the annual factor that corresponds to the Normal Retirement Age under the Plan in the Standard Form of Retirement Income. If benefits commence to the Participant in a form other than the Standard Form of Retirement Income, the product in the preceding paragraph will be actuarially adjusted in accordance with the provisions of section 1.2 of the Plan. If this Plan has had a Fresh-Start, the limitations in the preceding paragraphs will be applied only to the Participant's accruals for years for which the Plan provides for the disparity permitted under section 401(1) of the Code. All benefit accruals for years for which the Plan does not provide for the disparity permitted under section 401(1) of the Code will be actuarially adjusted in accordance with the provisions of section 1.2 of the Plan. The annual factor is the factor derived from the applicable in table(s) below based on the Normal Retirement Age under the Plan, as specified in the Adoption Agreement (determined without regard to any years of Participation requirement), and the Standard Form of Retirement Income, as specified in the Adoption Agreement. If the Employer elects as an integration level in the Adoption Agreement option 4 or 5, the follo...
