Before Payments Commence. If, a Termination of Service before Normal Retirement Age having previously occurred, the Director is entitled to any benefit pursuant to Article 2.2 of this Agreement but dies before the benefit payments commence, the Company shall pay the same aggregate benefit payments to the Director's beneficiary(ies) that the Director was entitled to before death, except that the benefit payments shall commence on the first day of the month following the date of the Director's death.
Appears in 6 contracts
Samples: Bancorp Director Retirement Agreement (Cortland Bancorp Inc), Director Retirement Agreement (Cortland Bancorp Inc), Bancorp Director Retirement Agreement (Cortland Bancorp Inc)
Before Payments Commence. If, a Termination of Service before on or after Normal Retirement Age having previously occurred, the Director is entitled to any benefit pursuant to Article 2.2 2.1 of this Agreement but dies before the benefit payments commence, the Company shall pay the same aggregate benefit payments to the Director's beneficiary(ies) that the Director was entitled to before death, except that the benefit payments shall commence on the first day of the month following the date of the Director's death.
Appears in 6 contracts
Samples: Bancorp Director Retirement Agreement (Cortland Bancorp Inc), Bancorp Director Retirement Agreement (Cortland Bancorp Inc), Director Retirement Agreement (Cortland Bancorp Inc)
Before Payments Commence. If, a Termination of Service before Normal Retirement Age having previously occurred, the Director is entitled to any benefit pursuant to Article 2.2 of this Agreement but dies before the benefit payments commence, the Company shall pay the same aggregate benefit payments to the Director's beneficiary(ies) that the Director was entitled to before death, except that the benefit payments shall commence on the first day of the month following after the date of the Director's death.
Appears in 1 contract
Samples: Bancorp Director Retirement Agreement (Cortland Bancorp Inc)
Before Payments Commence. If, a Termination of Service before Normal Retirement Age having previously occurred, the Director is entitled to any benefit pursuant to Article 2.2 of this Agreement but dies before the benefit payments commence, the Company shall pay the same aggregate benefit payments to the Director's beneficiary(ies) Beneficiary that the Director was entitled to before death, except that the benefit payments shall commence on the first day of the month following after the date of the Director's death.
Appears in 1 contract
Samples: Bancorp Director Retirement Agreement (Cortland Bancorp Inc)
Before Payments Commence. If, a Termination of Service before on or after Normal Retirement Age having previously occurred, the Director is entitled to any benefit pursuant to Article 2.2 2.1 of this Agreement but dies before the benefit payments commence, the Company shall pay the same aggregate benefit payments to the Director's beneficiary(ies) Beneficiary that the Director was entitled to before death, except that the benefit payments shall commence on the first day of the month following after the date of the Director's death.
Appears in 1 contract
Samples: Bancorp Director Retirement Agreement (Cortland Bancorp Inc)
Before Payments Commence. If, a Termination of Service before on or after Normal Retirement Age having previously occurred, the Director is entitled to any benefit pursuant to Article 2.2 2.1 of this Agreement but dies before the benefit payments commence, the Company shall pay the same aggregate benefit payments to the Director's beneficiary(ies) that the Director was entitled to before death, except that the benefit payments shall commence on the first day of the month following after the date of the Director's death.
Appears in 1 contract
Samples: Bancorp Director Retirement Agreement (Cortland Bancorp Inc)