Death After Termination of Employment But Before Commencement of Payment under the Salary Continuation Plan. If the Executive is entitled to a benefit under Article 2 of the Salary Continuation Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay no benefit under the Salary Continuation Agreement but shall pay to the Executive’s beneficiary the split dollar death benefit described in Section 2.2.1 of this Agreement.
Appears in 7 contracts
Samples: Salary Continuation Agreement (Chino Commercial Bancorp), Salary Continuation Agreement (Chino Commercial Bancorp), Continuation Agreement (Premier Commercial Bancorp)
Death After Termination of Employment But Before Commencement of Payment under the Salary Continuation Plan. If the Executive is entitled to a benefit under Article 2 of the Salary Continuation Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay no benefit under the Salary Continuation Agreement but shall pay to and the Executive’s 's beneficiary shall receive the split dollar death benefit described in Section 2.2.1 of this Agreement.
Appears in 3 contracts
Samples: Bank Split Dollar Agreement (Temecula Valley Bancorp Inc), Bank Split Dollar Agreement (Temecula Valley Bancorp Inc), Bank Split Dollar Agreement (Temecula Valley Bancorp Inc)
Death After Termination of Employment But Before Commencement of Payment under the Salary Continuation Plan. If the Executive is entitled to a benefit under Article 2 of the Salary Continuation Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay no benefit under the Salary Continuation Agreement but shall pay to the Executive’s 's beneficiary the a split dollar death benefit described in Section 2.2.1 equal to the present value of this Agreementthe remaining stream of payments under the Salary Continuation Plan.
Appears in 3 contracts
Samples: Agreement (FNB Bancorp/Ca/), Agreement (FNB Bancorp/Ca/), Agreement (FNB Bancorp/Ca/)
Death After Termination of Employment But Before Commencement of Payment under the Salary Continuation Plan. If the Executive is entitled to a benefit under Article 2 of the Salary Continuation Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay no benefit under the Salary Continuation Agreement but shall pay to the Executive’s 's beneficiary the split dollar death benefit described in Section 2.2.1 of this Agreement.
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