Benefits When An Participant’s Services Are Terminated Following A Change In Control. If the termination of a Participant’s service occurs within forty-two (42) months following a Change In Control, then (i) the Participant will be 100% vested in all benefits hereunder, with payment commencing as of the Retirement Date and (ii) the Plan Sponsor or its successor in interest shall purchase a single premium annuity for the benefit of Participant in such an amount as will provide for payment of the benefits Participant is entitled to under Sections 3.01, 3.03 or 3.04 hereof.
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Sources: Supplemental Executive Retirement Plan (Somerset Hills Bancorp), Supplemental Executive Retirement Plan (Somerset Hills Bancorp)