Common use of Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences Clause in Contracts

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the same benefit payments to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death.

Appears in 14 contracts

Samples: Compensation Agreement (North Valley Bancorp), First National (Iowa First Bancshares Corp), Agreement (New Peoples Bankshares Inc)

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Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the same benefit payments to the Executive's ’s beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's ’s death.

Appears in 12 contracts

Samples: Continuation Agreement (Madison County Financial, Inc.), Continuation Agreement (Madison County Financial, Inc.), Salary Continuation Agreement (Madison County Financial, Inc.)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the same benefit payments Accrual Balance at the time of the Executive’s death to the Executive's ’s beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date in a lump sum within 90 days of the Executive's ’s death.

Appears in 11 contracts

Samples: Salary Continuation Agreement (Community Capital Corp /Sc/), Salary Continuation Agreement (Community Capital Corp /Sc/), Salary Continuation Agreement (Community Capital Corp /Sc/)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company Bank shall pay the same benefit payments to the Executive's ’s beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's ’s death.

Appears in 8 contracts

Samples: Continuation Agreement (Heritage Oaks Bancorp), Continuation Agreement (Heritage Oaks Bancorp), Continuation Agreement (Heritage Oaks Bancorp)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company Bank shall pay the same benefit payments Lifetime Benefit to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death.

Appears in 5 contracts

Samples: Rapids Bank and Trust (QCR Holdings Inc), Deferred Compensation Agreement (QCR Holdings Inc), Compensation Agreement (Quad City Holdings Inc)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit under Article 2 of this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the same benefit payments to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death.

Appears in 5 contracts

Samples: Continuation Agreement (Cornerstone Bancorp Inc), Continuation Agreement (Cornerstone Bancorp Inc), Continuation Agreement (Cornerstone Bancorp Inc)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit the commencement of any lifetime benefit payments under this AgreementArticle 2, but dies prior to the commencement of said such benefit payments, the Company shall pay the same benefit payments to the Executive's beneficiary Beneficiary that the Executive was entitled to prior to death except that death. However, only the benefit payments shall commence on the first day of the month following the date of required under the Executive's deathform of distribution option shall be paid (e.g., no payment to the Executive's Beneficiary if the Executive had elected a life annuity form of distribution).

Appears in 4 contracts

Samples: Agreement (Cb Bancshares Inc/Hi), Agreement (Cb Bancshares Inc/Hi), Agreement (Cb Bancshares Inc/Hi)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive Director is entitled to a Lifetime Benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the same benefit payments to the Executive's Director’s beneficiary that the Executive Director was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's Director’s death.

Appears in 4 contracts

Samples: Elgin Financial Savings Bank (Efc Bancorp Inc), Elgin Financial Savings Bank (Efc Bancorp Inc), Elgin Financial Savings Bank (Efc Bancorp Inc)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit lifetime benefit under this Agreement, but dies prior to the commencement of said benefit paymentspayments of such benefit, the Company Bank shall pay the same benefit payments to the Executive's beneficiary Executive Beneficiary that the Executive was entitled to prior to death except that the benefit payments would have received had she survived. Such benefits shall commence on the first day of the month following the date of the Executive's ’s death.

Appears in 3 contracts

Samples: Continuation Agreement (Bank of Commerce Holdings), Continuation Agreement (Bank of Commerce Holdings), Continuation Agreement (Bank of Commerce Holdings)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive Director is entitled to a Lifetime Benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the same benefit payments to the Executive's Director’s beneficiary that the Executive Director was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's deathDirector’s Normal Retirement Age.

Appears in 3 contracts

Samples: McIntosh State Bank (McIntosh Bancshares Inc /Ga/), McIntosh State Bank (McIntosh Bancshares Inc /Ga/), McIntosh State Bank (McIntosh Bancshares Inc /Ga/)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the same benefit payments Lifetime Benefit to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death.

Appears in 3 contracts

Samples: Deferred Compensation Agreement (QCR Holdings Inc), Compensation Agreement (QCR Holdings Inc), Deferred Compensation Agreement (QCR Holdings Inc)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit benefit distributions under this Agreement, but dies prior to the commencement of said benefit paymentsdistributions, the Company shall pay the same benefit payments to the Executive's ’s beneficiary the same benefits that the Executive was entitled to prior to death except that the benefit payments distributions shall commence on the first day of the fourth month following the date of the Executive's ’s death.

Appears in 3 contracts

Samples: Executive Deferred Compensation Agreement (Ohio Valley Banc Corp), Executive Deferred Compensation Agreement (Ohio Valley Banc Corp), Executive Deferred Compensation Agreement (Ohio Valley Banc Corp)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit benefit under Article 2 of this Agreement, but dies after Termination of Employment and prior to the commencement of said benefit payments, the Company Employer shall pay the same benefit payments to the Executive's ’s beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's ’s death.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement (Midwest Banc Holdings Inc), Supplemental Executive Retirement Agreement (Midwest Banc Holdings Inc)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit lifetime benefit under this Agreement, but dies prior to the commencement of said benefit paymentspayments of such benefit, the Company Bank shall pay the same benefit payments to the Executive's beneficiary Executive Beneficiary that the Executive was entitled would have received had he lived to prior to death except that the benefit payments his full life expectancy, as determined by tables in IRS Publication 590, but not less than 20 years. Such benefits shall commence on the first day of the month following the date of the Executive's ’s death.

Appears in 2 contracts

Samples: Commerce Salary Continuation Agreement (Bank of Commerce Holdings), Salary Continuation Agreement (Bank of Commerce Holdings)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company Bank shall pay the same benefit payments Accrual Balance at the time of the Executive's death to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date in a lump sum within 90 days of the Executive's death.

Appears in 2 contracts

Samples: Continuation Agreement (Dutchfork Bancshares Inc), Continuation Agreement (Dutchfork Bancshares Inc)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit the commencement of any lifetime benefit payments under this AgreementArticle 2, but dies prior to the commencement of said such benefit payments, the Company Bank shall pay the same benefit payments to the Executive's beneficiary ’s Beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's ’s death.

Appears in 2 contracts

Samples: Supplemental Employee Retirement Agreement (Territorial Bancorp Inc.), Supplemental Employee Retirement Agreement (Territorial Bancorp Inc.)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company Bank shall pay the same benefit payments to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death. The Bank may, in its sole discretion, pay the benefit balance to the Executive's beneficiary in a lump sum within 90 days following the Executive's death.

Appears in 1 contract

Samples: Incentive and Retirement Agreement (New South Bancshares Inc)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the same benefit payments Lifetime Benefit to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death.. Article 6

Appears in 1 contract

Samples: Executive Deferred Compensation Agreement (QCR Holdings Inc)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit the commencement of any lifetime benefit payments under this AgreementArticle 2, but dies prior to the commencement of said such benefit payments, the Company Bank shall pay the same benefit payments to the Executive's beneficiary ’s Beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month within 30 days following the date of the Executive's ’s death.

Appears in 1 contract

Samples: Supplemental Employee Retirement Agreement (Territorial Bancorp Inc.)

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Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit lifetime benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company Bank shall pay the same benefit payments to the Executive's beneficiary Beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's deathdeath and shall continue for a period of twenty (20) years.

Appears in 1 contract

Samples: Employment Agreement (Redding Bancorp)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit under this Agreement, but dies prior to the commencement of said benefit payments, the Company Bank shall pay the same benefit payments Lifetime Benefit to the Executive's ’s beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's ’s death.

Appears in 1 contract

Samples: Compensation Agreement (QCR Holdings Inc)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit lifetime benefit under Article 2 of this Agreement, but dies prior to the commencement of said benefit payments, the Company Bank shall pay the same benefit payments to the Executive's ’s beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's ’s death.

Appears in 1 contract

Samples: Continuation Agreement (Delhi Bank Corp)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit benefit under Article 2 of this Agreement, but dies after Termination of Employment and prior to the commencement of said benefit payments, the Company Employer shall pay the same benefit payments to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death.

Appears in 1 contract

Samples: Retirement Agreement (Midwest Banc Holdings Inc)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit lifetime benefit under this Agreement, but dies prior to the commencement of said benefit paymentspayments of such benefit, the Company Bank shall pay the same benefit payments to the Executive's beneficiary Executive Beneficiary that the Executive was entitled would have received had she lived to prior to death except that the benefit payments her full life expectancy, as determined by IRS Publication 590, but not less than 20 years. Such benefits shall commence on the first day of the month following the date of the Executive's ’s death.

Appears in 1 contract

Samples: Commerce Salary Continuation Agreement (Bank of Commerce Holdings)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit the commencement of any lifetime benefit payments under this AgreementArticle 2, but dies prior to the commencement of said such benefit payments, the Company shall pay the same benefit payments to the Executive's beneficiary ’s Beneficiary that the Executive was entitled to prior to death except that death. However, only the benefit payments shall commence on the first day of the month following the date of required under the Executive's death’s form of distribution option shall be paid (e.g., no payment to the Executive’s Beneficiary if the Executive had elected a life annuity form of distribution).

Appears in 1 contract

Samples: Agreement (Cb Bancshares Inc/Hi)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit lifetime benefit under Article 2 of this Agreement, but dies prior to the commencement of said benefit payments, the Company shall not pay the same benefit payments said benefit, but, in lieu thereof, shall pay to the Executive's beneficiary that the Executive was entitled to prior to death except that present value of said benefit in a split-dollar arrangement described in the benefit payments shall commence on Split Dollar Agreement attached as Addendum A between the first day of the month following the date of Company and the Executive's death.

Appears in 1 contract

Samples: Dollar Agreement (East West Bancorp Inc)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit the commencement of any lifetime benefit payments under this AgreementArticle 3, but dies prior to the commencement of said such benefit payments, the Company shall pay the same benefit payments to the Executive's beneficiary Beneficiary that the Executive was entitled to prior to death except that death. However, only the benefit payments shall commence on the first day of the month following the date of required under the Executive's deathform of distribution option shall be paid (e.g., no payment to the Executive's Beneficiary if the Executive had elected a life annuity form of distribution).

Appears in 1 contract

Samples: Agreement (Cb Bancshares Inc/Hi)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit the commencement of any lifetime benefit payments under this AgreementArticle 2, but dies prior to the commencement of said such benefit payments, the Company shall pay the same benefit payments to the Executive's beneficiary Beneficiary that the Executive was entitled to prior to death except that death. However, only the benefit payments shall commence on the first day of the month following the date of the Executive's death.required under the

Appears in 1 contract

Samples: Agreement (Cb Bancshares Inc/Hi)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit benefit distributions under this Agreement, but dies prior to the commencement of said benefit paymentsdistributions, the Company shall pay the same benefit payments to the Executive's beneficiary the same benefits that the Executive was entitled to prior to death except that the benefit payments distributions shall commence on the first day of the fourth month following the date of the Executive's death.

Appears in 1 contract

Samples: Executive Deferred Compensation Agreement (Ohio Valley Banc Corp)

Death After Termination of Employment But Before Payment of a Lifetime Benefit Commences. If the Executive is entitled to a Lifetime Benefit lifetime benefit under Article 2 of this Agreement, Agreement but dies prior to the commencement of said the benefit payments, the Company shall pay the same benefit payments to the Executive's beneficiary that the Executive was entitled to prior to death except that the death. The benefit payments shall commence on the first day of the month following the date of the Executive's death.

Appears in 1 contract

Samples: Continuation Agreement (Camco Financial Corp)

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