Common use of Death After Termination of Employment But Before Benefit Payments Commence Clause in Contracts

Death After Termination of Employment But Before Benefit Payments Commence. If the Executive is entitled to benefit payments under Article 2, but dies before payments commence, the benefits shall be payable to the Executive’s beneficiary(ies), but the payments shall commence on the first day of the month after the date of the Executive’s death, and payments shall be paid to the beneficiary(ies) for 15 years. Annual payments shall be in the same amounts they would have been paid to the Executive had the Executive survived.

Appears in 5 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Premierwest Bancorp), Supplemental Executive Retirement Plan Agreement (Premierwest Bancorp), Supplemental Executive Retirement Plan Agreement (Premierwest Bancorp)

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Death After Termination of Employment But Before Benefit Payments Commence. If the Executive is entitled to benefit payments under Article 2, 2 but dies before payments commence, the benefits shall be payable to the Executive’s beneficiary(ies), but the payments shall commence on the first day of the month after the date of the Executive’s death, and payments . Payments shall be paid to the beneficiary(ies) for 15 years. Annual payments shall be made in the same amounts they would have been paid to the Executive had the Executive survived.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Newmil Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Premierwest Bancorp), Salary Continuation Agreement (Newmil Bancorp Inc)

Death After Termination of Employment But Before Benefit Payments Commence. If the Executive is entitled to benefit payments under Article 2, 2 but dies before payments commence, the benefits shall be payable to the Executive’s beneficiary(ies), but the payments shall commence on the first day of the month after the date of the Executive’s death, and payments . Payments shall be paid to made at the beneficiary(ies) for 15 years. Annual payments shall be same time and in the same amounts they would have been paid to the Executive had the Executive survived.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc), Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc)

Death After Termination of Employment But Before Benefit Payments Commence. If the Executive is entitled to benefit payments under Article 2, 2 but dies before payments commence, the benefits shall be payable to the Executive’s 's beneficiary(ies), but the payments shall commence on the first last day of the month after the date of the Executive’s 's death, and payments shall be paid to the beneficiary(ies) for 15 years. Annual payments shall be in the same amounts they would have been paid to the Executive had the Executive survived.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Cortland Bancorp Inc), Salary Continuation Agreement (Cortland Bancorp Inc)

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Death After Termination of Employment But Before Benefit Payments Commence. If the Executive is entitled to benefit payments under Article 2, 2 but dies before payments commence, the benefits shall be payable to __________, if she survives him, and if not, to the Executive’s beneficiary(ies)Trustee of the ______________ Trust, but the payments shall commence on the first day of the month after the date of the Executive’s 's death, and payments . Payments shall be paid to the beneficiary(ies) for 15 years. Annual payments shall be made in the same amounts they would have been paid to the Executive had the Executive survived.

Appears in 1 contract

Samples: Salary Continuation Agreement (Unb Corp/Oh)

Death After Termination of Employment But Before Benefit Payments Commence. If the Executive is entitled to benefit payments under Article 2, 2 but dies before payments commence, the benefits shall be payable to the Executive’s 's beneficiary(ies), but the payments shall commence on the first day of the month after the date of the Executive’s 's death, and payments . Payments shall be paid to made at the beneficiary(ies) for 15 years. Annual payments shall be same time and in the same amounts they would have been paid to the Executive had the Executive survived.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc)

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