This excerpt taken from the BAC 10-K filed Feb 27, 2009.
4.01 Regular Retirement Benefits.
(a) Entitlement to Regular Retirement Benefits. A Member shall be entitled to receive regular retirement benefits as specified in this Section 4.01 if (i) such Member has been in the employ of the Corporation until the Member has either (I) attained age 65 or (II) attained age 60 and been employed by the Corporation for at least 10 years, and (ii) such Members employment with the Corporation terminates for any reason other than Cause, death, Disability or as provided in Section 4.02.
(b) Amount of Regular Retirement Benefits. A Members regular retirement benefits under this Section 4.01 shall be a monthly amount payable to the Member, commencing on the first day of the first calendar month commencing on or after the Members termination of employment with the Corporation and continuing for the life of the Member, equal to (i) the Regular Percentage of such Members Average Monthly Earnings specified in the applicable SERP Benefits Schedule based on the Members Attained Age as of the effective date of the Members termination of employment, reduced by (ii) the sum of the amounts set forth in Section 4.03. Notwithstanding anything in this subsection to the contrary, to the extent applicable, in no event shall any payment hereunder be made to a specified employee within the meaning of Code Section 409A earlier than six months after the date of the Participants termination of employment with the Corporation, except in connection with the Participants death or Disability.