Death after Separation from Service. If the Executive dies after Separation from Service and if Separation from Service was not a Termination for Cause, at the Executive's death the Executive's Beneficiary shall be entitled to an amount in cash equal to the Accrual Balance existing at the Executive's death. If a benefit is payable to the Executive's Beneficiary, the benefit shall be paid in a single lump sum 90 days after the Executive's death. However, no benefits under this Agreement shall be paid or payable to the Executive or the Executive's Beneficiary if this Agreement is terminated under Article 5.
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Samples: Southcoast Community Bank Salary Continuation Agreement (Southcoast Financial Corp), Continuation Agreement (Southcoast Financial Corp)
Death after Separation from Service. If the Executive dies after Separation from Service and if Separation from Service was not a Termination for with Cause, at the Executive's ’s death the Executive's ’s Beneficiary shall be is entitled to an amount in cash equal to the Accrual Balance existing at remaining when the Executive's death’s death occurs. If a benefit is payable to the Executive's Beneficiary’s Beneficiary under this section 3.2, the benefit shall will be paid in a single lump sum 90 days after the Executive's ’s death. However, no benefits under this Agreement shall benefit will be paid or payable under this Agreement to the Executive Executive, the Executive’s Beneficiary, or the Executive's Beneficiary ’s estate if this Agreement is terminated terminates under Article 5.. ARTICLE 4
Appears in 1 contract
Samples: Continuation Agreement (BNC Bancorp)
Death after Separation from Service. If the Executive dies after Separation from Service and if Separation from Service was not a Termination for Cause, at the Executive's death the Executive's Beneficiary shall be entitled to an amount in cash equal to the Accrual Balance existing remaining at the Executive's death. If a benefit is payable to the Executive's Beneficiary, the benefit shall be paid in a single lump sum 90 days after the Executive's death. However, no benefits under this Agreement shall be paid or payable to the Executive or the Executive's Beneficiary if this Agreement is terminated under Article 5.'s
Appears in 1 contract
Samples: Community First Bank Salary Continuation Agreement (Community First Bancorp)
Death after Separation from Service. If the Executive dies after Separation from Service and if Separation from Service was not a Termination for with Cause, at the Executive's ’s death the Executive's ’s Beneficiary shall be is entitled to an amount in cash equal to the Accrual Balance existing at remaining when the Executive's death’s death occurs. If a benefit is payable to the Executive's Beneficiary’s Beneficiary under this section 3.2, the benefit shall will be paid in a single lump sum 90 days after the Executive's ’s death. However, no benefits under this Agreement shall benefit will be paid or payable under this Agreement to the Executive Executive, the Executive’s Beneficiary, or the Executive's Beneficiary ’s estate if this Agreement is terminated terminates under Article 5.
Appears in 1 contract
Samples: Continuation Agreement (BNC Bancorp)
Death after Separation from Service. If the Executive dies after Separation from Service and if Separation from Service was not a Termination for with Cause, at the Executive's ’s death the Executive's ’s Beneficiary shall be is entitled to an amount in cash equal to the Accrual Balance existing at remaining when the Executive's death’s death occurs. If a benefit is payable to the Executive's Beneficiary’s Beneficiary under this section 3.2, the benefit shall will be paid in a single lump sum 90 days after the Executive's ’s death. However, no benefits under this Agreement shall benefit will be paid or payable under this Agreement to the Executive Executive, the Executive’s Beneficiary, or the Executive's Beneficiary ’s estate if this Agreement is terminated terminates under Article 5.. ARTICLE 4 BENEFICIARIES 4.1
Appears in 1 contract
Samples: Continuation Agreement (BNC Bancorp)