Example ContractsClausesearly retirement benefitVariants
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Subject to [Subparagraph III(F)], should the Executive elect Early Retirement or be discharged without cause by the Bank subsequent to the Early Retirement Date [Subparagraph I(D)" data-ad-field-json='{"name":"[Subparagraph I(D)","canGuess":{"name":false,"type":true}}'>​], the Executive shall be entitled to receive a reduced annual benefit amount as set forth in [Exhibit A-22]2]], based on the Executive’s age at Early Retirement. Said payments to commence thirty (30) days following the Executive’s Early Retirement Date. Such payments shall be made in equal monthly installments [1/12th of the annual benefit for a period of thirteen (13) years]. Upon completion of the aforestated payments and commencing the next month subsequent thereto, the Executive shall be entitled to receive a reduced Index Retirement Benefit [Subparagraph I(F)" data-ad-field-json='{"name":"[Subparagraph I(F)","canGuess":{"name":false,"type":true}}'>​] amount as set forth in [Exhibit A-22]2]], based on the Executive’s age at Early Retirement, which benefit shall be paid to the Executive until his death at which time said benefit shall cease. For the avoidance of doubt, when Early Retirement occurs prior to age sixty-five (65), the reduced annual benefit as set forth in [Exhibit A-22]2]], based on the Executive’s age at Early Retirement, will apply to the age sixty-six (66) benefit listed on [Exhibit A-11]1]], to the age sixty-six benefit listed on [[Exhibit A-1A]A]]A], and to the Index Retirement Benefit listed on [Exhibit A-33]3]].

Subject to [Subparagraph III(F)], shouldShould the Executive elect Early Retirement orcontinue to be discharged without causeemployed by the Bank subsequent to the Earlyuntil “Normal Retirement Date [SubparagraphAge” defined in [Subparagraph I(D)" data-ad-field-json='{"name":"[SubparagraphAge” defined in [Subparagraph I(D)","canGuess":{"name":false,"type":true}}'>​]J)], the Executive shall be entitled to receive a reducedan annual benefit equal to the sum of the amount as set forth in [Exhibit A-22]2]11]1]], based on and the Executive’s age at Early Retirement. Said payments to commence thirty (30) days following the Executive’s Early Retirement Date. Such payments shall be madeamount set forth in [[Exhibit A-1A]A]]A], in equal monthly installments [1/12th of the annual benefit for a period of thirteen (13) years]. Said payments to commence thirty (30) days following the Executive’s Retirement Date. Upon completion of the aforestated payments and commencing the next month subsequent thereto, the Executive shall be entitled to receive a reduced Index Retirement Benefit [Subparagraph I(F)" data-ad-field-json='{"name":"[Subparagraph I(F)","canGuess":{"name":false,"type":true}}'>​] amount as set forth in [Exhibit A-22]2]], based on the Executive’s age at Early Retirement, which benefit shall be paid to the Executive until his death at which time said benefit shall cease. For the avoidance of doubt, when Early Retirement occurs prior to age sixty-five (65), the reduced annual benefit as set forth in [Exhibit A-22]2]], based on the Executive’s age at Early Retirement, will apply to the age sixty-six (66) benefit listed on [Exhibit A-11]1]], to the age sixty-six benefit listed on [[Exhibit A-1A]A]]A], and to the Index Retirement Benefit listed on [Exhibit A-33]3]].

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