Common use of Death and Disability Benefits Clause in Contracts

Death and Disability Benefits. (a) In the event Executive's employment with the Company terminates during the Employment Period because of Executive's death, then the Company shall pay to the Executive's designated beneficiary for the one year period following Executive's death, periodic payments equal in the aggregate to the Executive's annual base salary as in effect on the date of his death. For the one year period following Executive's death, Executive's dependents, as defined under the group health (including hospitalization, medical and major medical) and dental plans sponsored by the Company or the Bank from time to time, shall be provided continued coverage under such plans, provided that they continue to remit to the Company or Bank, as the case may be, any premium payments Executive was required to pay for such coverage prior to his death. The continued coverage provided under this section 10 shall be in addition to, and shall not count as, coverage required to be provided under any applicable law. For the purposes of this Agreement, Executives designated beneficiary shall be the person designated as such by Executive in a writing submitted to the Company. If no written designation is made, Executive's designated beneficiary shall be his spouse or in the event he has no spouse, his estate. (b) In the event that Executive's employment with the Company is terminated because of his inability to perform his duties under this Agreement by reason of illness or other physical or mental disability determined in the discretion of the Board to be permanent, based on medical evidence the Board finds acceptable, the Company shall continue to pay Executive his base salary in effect as of the date he is determined to be permanently disabled, for the Remaining Unexpired Employment Period, but reduced by any payments Executive receives during such period under or pursuant to any short or long term disability plan or policy sponsored by the Company or the Bank.

Death and Disability Benefits. (a) In the event the Executive's ’s employment with the Company Bank terminates during the Employment Period because of the Executive's ’s death, then the Company Bank shall pay to the Executive's ’s designated beneficiary for the one year period following Executive's ’s death, periodic payments equal in the aggregate to the Executive's ’s annual base salary as in effect on the date of his death. For the one year period following Executive's ’s death, Executive's ’s dependents, as defined under the group health (including hospitalization, medical and major medical) and dental plans sponsored by the Company or the Bank from time to time, shall be provided continued coverage under such plans, provided that they continue to remit to the Company or Bank, as the case may be, any premium payments Executive was required to pay for such coverage prior to his death. The continued coverage provided under this section 10 shall be in addition to, and shall not count as, coverage required to be provided under any applicable law. For the purposes of this Agreement, Executives designated beneficiary shall be the person designated as such by Executive in a writing submitted to the CompanyBank. If no written designation is made, Executive's ’s designated beneficiary shall be his spouse or in the event he has no spouse, his estate. (b) In the event that Executive's ’s employment with the Company Bank is terminated because of his inability to perform his duties under this Agreement by reason of illness or other physical or mental disability determined in the discretion of the Board to be permanent, based on medical evidence the Board finds acceptable, the Company Bank shall continue to pay Executive his base salary in effect as of the date he is determined to be permanently disabled, for the Remaining Unexpired Employment Period, but reduced by any payments Executive receives during such period under or pursuant to any short or long term disability plan or policy sponsored by the Company or the Bank.

Death and Disability Benefits. (a) In the event the Executive's ’s employment with the Company terminates during the Employment Period because of the Executive's ’s death, then the Company shall pay to the Executive's ’s designated beneficiary for the one (1) year period following Executive's ’s death, periodic payments equal in the aggregate to the Executive's ’s annual base salary as in effect on the date of his death. For the one (1) year period following Executive's ’s death, Executive's ’s dependents, as defined under the group health (including hospitalization, medical and major medical) and dental plans sponsored by the Company or the Bank from time to time, shall be provided continued coverage under such plans, provided that they continue to remit to the Company or Bank, as the case may be, any premium payments Executive was required to pay for such coverage prior to his death. The continued coverage provided under this section 10 shall be in addition to, and shall not count as, coverage required to be provided under any applicable law. For the purposes of this Agreement, Executives designated beneficiary shall be the person designated as such by Executive in a writing submitted to the Company. If no written designation is made, Executive's ’s designated beneficiary shall be his spouse or in the event he has no spouse, his estate. (b) In the event that Executive's ’s employment with the Company is terminated because of his inability to perform his duties under this Agreement by reason of illness or other physical or mental disability determined in the discretion of the Board to be permanent, based on medical evidence the Board finds acceptable, the Company shall continue to pay Executive his base salary in effect as of the date he is determined to be permanently disabled, for the Remaining Unexpired Employment Period, but reduced by any payments Executive receives during such period under or pursuant to any short or long term disability plan or policy sponsored by the Company or the Bank.

Death and Disability Benefits. (a) In the event the Executive's ’s employment with the Company terminates during the Employment Period because of the Executive's ’s death, then the Company shall pay to the Executive's ’s designated beneficiary for the one year period following Executive's ’s death, periodic payments equal in the aggregate to the Executive's ’s annual base salary as in effect on the date of his death. For the one year period following Executive's ’s death, Executive's ’s dependents, as defined under the group health (including hospitalization, medical and major medical) and dental plans sponsored by the Company or the Bank from time to time, shall be provided continued coverage under such plans, provided that they continue to remit to the Company or Bank, as the case may be, any premium payments Executive was required to pay for such coverage prior to his death. The continued coverage provided under this section 10 shall be in addition to, and shall not count as, coverage required to be provided under any applicable law. For the purposes of this Agreement, Executives designated beneficiary shall be the person designated as such by Executive in a writing submitted to the Company. If no written designation is made, Executive's ’s designated beneficiary shall be his spouse or in the event he has no spouse, his estate. (b) In the event that Executive's ’s employment with the Company is terminated because of his inability to perform his duties under this Agreement by reason of illness or other physical or mental disability determined in the discretion of the Board to be permanent, based on medical evidence the Board finds acceptable, the Company shall continue to pay Executive his base salary in effect as of the date he is determined to be permanently disabled, for the Remaining Unexpired Employment Period, but reduced by any payments Executive receives during such period under or pursuant to any short or long term disability plan or policy sponsored by the Company or the Bank.

Death and Disability Benefits. (a) In the event the Executive's ’s employment with the Company Bank terminates during the Employment Period because of the Executive's ’s death, then the Company Bank shall pay to the Executive's ’s designated beneficiary for the one (1) year period following Executive's ’s death, periodic payments equal in the aggregate to the Executive's ’s annual base salary as in effect on the date of his death. For the one (1) year period following Executive's ’s death, Executive's ’s dependents, as defined under the group health (including hospitalization, medical and major medical) and dental plans sponsored by the Company or the Bank from time to time, shall be provided continued coverage under such plans, provided that they continue to remit to the Company or Bank, as the case may be, any premium payments Executive was required to pay for such coverage prior to his death. The continued coverage provided under this section 10 shall be in addition to, and shall not count as, coverage required to be provided under any applicable law. For the purposes of this Agreement, Executives designated beneficiary shall be the person designated as such by Executive in a writing submitted to the CompanyBank. If no written designation is made, Executive's ’s designated beneficiary shall be his spouse or in the event he has no spouse, his estate. (b) In the event that Executive's ’s employment with the Company Bank is terminated because of his inability to perform his duties under this Agreement by reason of illness or other physical or mental disability determined in the discretion of the Board to be permanent, based on medical evidence the Board finds acceptable, the Company Bank shall continue to pay Executive his base salary in effect as of the date he is determined to be permanently disabled, for the Remaining Unexpired Employment Period, but reduced by any payments Executive receives during such period under or pursuant to any short or long term disability plan or policy sponsored by the Company or the Bank.

Death and Disability Benefits. (a) In the event the Executive's employment with the Company terminates during the Employment Period because of the Executive's death, then the Company shall pay to the Executive's designated beneficiary for the one year period following Executive's death, periodic payments equal in the aggregate to the Executive's annual base salary as in effect on the date of his death. For the one year period following Executive's death, Executive's dependents, as defined under the group health (including hospitalization, medical and major medical) and dental plans sponsored by the Company or the Bank from time to time, shall be provided continued coverage under such plans, provided that they continue to remit to the Company or Bank, as the case may be, any premium payments Executive was required to pay for such coverage prior to his death. The continued coverage provided under this section 10 shall be in addition to, and shall not count as, coverage required to be provided under any applicable law. For the purposes of this Agreement, Executives designated beneficiary shall be the person designated as such by Executive in a writing submitted to the Company. If no written designation is made, Executive's designated beneficiary shall be his spouse or in the event he has no spouse, his estate. (b) In the event that Executive's employment with the Company is terminated because of his inability to perform his duties under this Agreement by reason of illness or other physical or mental disability determined in the discretion of the Board to be permanent, based on medical evidence the Board finds acceptable, the Company shall continue to pay Executive his base salary in effect as of the date he is determined to be permanently disabled, for the Remaining Unexpired Employment Period, but reduced by any payments Executive receives during such period under or pursuant to any short or long term disability plan or policy sponsored by the Company or the Bank.