Payment of Benefit. The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.
Payment of Benefit. The annual benefit shall be paid to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following the Executive’s attainment of Normal Retirement Age, and continuing on the first of each month thereafter for a total period of twenty (20) years.
Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement Age. Such annual benefit shall be paid to the Director for ten (10) consecutive years.
Payment of Benefit. The Bank shall pay the annual benefit to the Executive in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Executive’s Separation of Service and continuing for the greater of the Executive’s life or an additional 179 months.
Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's death and continuing for 179 additional months.
Payment of Benefit. The Company shall pay the benefit to the Director in a lump-sum payment no later than 60 days after the Director's Termination of Service.
Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of Service. The Company shall continue to credit interest as described in Section 3.1.2.1 on the balance of the Deferral Account until all payments have been distributed.
Payment of Benefit. The Company shall pay the benefit to the Executive in a single lump sum within 60 days after Termination of Employment.
Payment of Benefit. Beginning with the later of (x) the seventh month after the month in which the Executive’s Separation from Service occurs, or (y) the month immediately after the month in which the Executive attains Normal Retirement Age, the Bank shall pay the Disability benefit to the Executive in equal monthly installments on the first day of each month. The annual benefit shall be paid to the Executive for 15 years.
Payment of Benefit. The Bank shall pay the annual benefit to the Executive’s beneficiary in 12 equal monthly installments commencing with the month following the Executive’s death, paying the annual benefit to the Executive’s beneficiary for a period of 15 years.
