Common use of Continuation of Payments Clause in Contracts

Continuation of Payments. Upon Employee's death during said ten (10) year period of payments hereunder, the sum of Five Thousand Two Hundred Eight and 34/100 Dollars ($5,208.34) per month shall be paid to Employee's designated beneficiary or Employee's Estate, as applicable, beginning the first calendar month following the date of Employee's death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 2 contracts

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc), Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

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Continuation of Payments. Upon Employee's ’s death during said ten (10) year period of payments hereunder, the sum of Five Twenty-Seven Thousand Two Nine Hundred Eight Four and 34/100 08/100 Dollars ($5,208.3427,904.08) per month shall be paid to Employee's ’s designated beneficiary or Employee's ’s Estate, as applicable, beginning the first calendar month following the date of Employee's ’s death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 2 contracts

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancshares Inc /De/), Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancshares Inc /De/)

Continuation of Payments. Upon Employee's ’s death during said ten (10) year period of payments hereunder, the sum of Five Four Thousand Two Seven Hundred Seventy-Eight and 34/100 41/100 Dollars ($5,208.344,778.41) per month shall be paid to Employee's ’s designated beneficiary or Employee's ’s Estate, as applicable, beginning the first calendar month following the date of Employee's ’s death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Non-Competition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 2 contracts

Samples: Employee Death Benefit and Post Retirement Non Competition and Consultation Agreement (First Citizens Bancshares Inc /De/), Employee Death Benefit and Post Retirement Non Competition and Consultation Agreement (First Citizens Bancshares Inc /De/)

Continuation of Payments. Upon Employee's ’s death during said ten (10) year period of payments hereunderunder Paragraphs 3 and 4 above, the sum of Five Thousand Two Hundred Eight FIVE THOUSAND FOUR HUNDRED SIXTEEN and 34/100 67/100 Dollars ($5,208.345,416.67) per month shall be paid to Employee's designated such beneficiary or beneficiaries as Employee shall have designated in writing filed with Employer as provided in Paragraph 13 below or, in the absence of such designation, to Employee's Estate’s estate, as applicable, beginning the first calendar month following the date of Employee's ’s death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancorporation Inc)

Continuation of Payments. Upon Employee's ’s death during said ten (10) year period of payments hereunder, the sum of Five Twelve Thousand Two Three Hundred Eight Sixty-Six and 34/100 08/100 Dollars ($5,208.3412,366.08) per month shall be paid to Employee's ’s designated beneficiary or Employee's ’s Estate, as applicable, beginning the first calendar month following the date of Employee's ’s death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancshares Inc /De/)

Continuation of Payments. Upon Employee's death during said ten (10) year period of payments hereunder, the sum of Five One Thousand Two Eight Hundred Eight Eighteen and 34/100 75/100 Dollars ($5,208.341,818.75) per month shall be paid to Employee's designated beneficiary or Employee's Estate, as applicable, beginning the first calendar month following the date of Employee's death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (Fidbank Capital Trust I)

Continuation of Payments. Upon Employee's ’s death during said ten (10) year period of payments hereunder, the sum of Five Thousand Two Hundred Eight seven thousand, five hundred and 34/100 25/100 Dollars ($5,208.347,500.25) per month shall be paid to Employee's ’s designated beneficiary or Employee's ’s Estate, as applicable, beginning the first calendar month following the date of Employee's ’s death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

Continuation of Payments. Upon Employee's death during said ten (10) year period of payments hereunder, the sum of Five Three Thousand Two Eight Hundred Ninety-Eight and 34/100 81/100 Dollars ($5,208.343,898.81) per month shall be paid to Employee's designated beneficiary or Employee's Estate, as applicable, beginning the first calendar month following the date of Employee's death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

Continuation of Payments. Upon Employee's death during said ten (10) year period of payments hereunder, the sum of Five Thousand Two Five Hundred Eight Eighty-Three and 34/100 12/100 Dollars ($5,208.345,583.12) per month shall be paid to Employee's designated beneficiary or Employee's Estate, as applicable, beginning the first calendar month following the date of Employee's death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments."

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (Fidbank Capital Trust I)

Continuation of Payments. Upon Employee's ’s death during said ten (10) year period of payments hereunder, the sum of Five Thousand Two Hundred Eight four thousand, seven hundred, ninety one and 34/100 67/100 Dollars ($5,208.344,791.67) per month shall be paid to Employee's ’s designated beneficiary or Employee's ’s Estate, as applicable, beginning the first calendar month following the date of Employee's ’s death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

Continuation of Payments. Upon Employee's ’s death during said ten (10) year period of payments hereunder, the sum of Five Thousand Two Hundred Eight three thousand, three hundred, ninety eight and 34/100 75/100 Dollars ($5,208.343,398.75) per month shall be paid to Employee's ’s designated beneficiary or Employee's ’s Estate, as applicable, beginning the first calendar month following the date of Employee's ’s death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

Continuation of Payments. Upon Employee's death during said ten (10) year period of payments hereunder, the sum of Five Two Thousand Four Hundred Eighty-Two Hundred Eight and 34/100 90/100 Dollars ($5,208.342,482.90) per month shall be paid to Employee's designated beneficiary or Employee's Estate, as applicable, beginning the first calendar month following the date of Employee's death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

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Continuation of Payments. Upon Employee's death during said ten (10) year period of payments hereunder, the sum of Five Two Thousand Two Hundred Eight Ninety-One and 34/100 67/100 Dollars ($5,208.342,291.67) per month shall be paid to Employee's designated beneficiary or Employee's Estate, as applicable, beginning the first calendar month following the date of Employee's death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

Continuation of Payments. Upon Employee's ’s death during said ten (10) year period of payments hereunder, the sum of Five Six Thousand Two Eight Hundred Eight Eighty-Six and 34/100 33/100 Dollars ($5,208.346,886.33) per month shall be paid to Employee's ’s designated beneficiary or Employee's ’s Estate, as applicable, beginning the first calendar month following the date of Employee's ’s death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancshares Inc /De/)

Continuation of Payments. Upon Employee's ’s death during said ten (10) year period of payments hereunder, the sum of Five Thousand Two Hundred Eight Thousand, Eighty-Three and 34/100 Dollars ($5,208.342,083.34) per month shall be paid to Employee's ’s designated beneficiary or Employee's ’s Estate, as applicable, beginning the first calendar month following the date of Employee's ’s death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

Continuation of Payments. Upon Employee's ’s death during said ten (10) year period of payments hereunder, the sum of Five Thousand Two Hundred Eight four thousand, three hundred twelve and 34/100 92/100 Dollars ($5,208.344,312.92) per month shall be paid to Employee's ’s designated beneficiary or Employee's ’s Estate, as applicable, beginning the first calendar month following the date of Employee's ’s death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

Continuation of Payments. Upon Employee's death during said ten (10) year period of payments hereunder, the sum of Five Three Thousand Two Hundred Eight Ninety-Three and 34/100 54/100 Dollars ($5,208.343,093.54) per month shall be paid to Employee's designated beneficiary or Employee's Estate, as applicable, beginning the first calendar month following the date of Employee's death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

Continuation of Payments. Upon Employee's death during said ten (10) year period of payments hereunder, the sum of Five Four Thousand Two Seven Hundred Eight Seventy-Nine and 34/100 06/100 Dollars ($5,208.344,779.06) per month shall be paid to Employee's designated beneficiary or Employee's Estate, as applicable, beginning the first calendar month following the date of Employee's death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancshares Inc /De/)

Continuation of Payments. Upon Employee's ’s death during said ten (10) year period of payments hereunder, the sum of Five Twenty-Two Thousand Two One Hundred Eight Fifty-Four and 34/100 67/100 Dollars ($5,208.3422,154.67) per month shall be paid to Employee's ’s designated beneficiary or Employee's ’s Estate, as applicable, beginning the first calendar month following the date of Employee's ’s death and continuing thereafter until the expiration of said ten (10) year period. Once the Consultation and/or Noncompetition Payments are begun, whether paid by Employer or as otherwise provided herein, the maximum payment period under this Agreement is ten (10) years. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for all income and other taxes and assessments applicable on said payments.

Appears in 1 contract

Samples: Employee Death Benefit and Post Retirement Noncompetition and Consultation Agreement (First Citizens Bancshares Inc /De/)

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