Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s death.
Appears in 12 contracts
Samples: Salary Continuation Agreement (Mutualfirst Financial Inc), Supplemental Executive Retirement Agreement (SBT Bancorp, Inc.), Supplemental Executive Retirement Agreement (SBT Bancorp, Inc.)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the earlier of (a) the first day of the fourth month following the Executive’s death, or (b) the date the benefits would have commenced if the Executive had not died.
Appears in 9 contracts
Samples: Home Bank Salary Continuation Agreement (Home Bancorp, Inc.), Continuation Agreement (Home Bancorp, Inc.), Salary Continuation Agreement (Home Bancorp, Inc.)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on or around the first fifteenth day of the fourth month following the Executive’s death.
Appears in 8 contracts
Samples: Salary Continuation Agreement (Bank of Commerce Holdings), Salary Continuation Agreement (Bank of Commerce Holdings), Salary Continuation Agreement (Bank of Commerce Holdings)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid Account Value in the manner specified in Section 3.1.2 and shall commence a lump sum on the first day of the fourth month following the Executive’s death. The Beneficiary shall be required to provide the Executive’s death certificate to the Bank.
Appears in 7 contracts
Samples: Salary Continuation Agreement (Bank of Marin Bancorp), Salary Continuation Agreement (Bank of Marin Bancorp), Salary Continuation Agreement (Bank of Marin Bancorp)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 5.1.2 and shall commence on the first day of the fourth month following the Executive’s death. The Beneficiary shall be required to provide to the Bank the Executive’s death certificate.
Appears in 6 contracts
Samples: Deferred Compensation Agreement (Tower Bancorp Inc), Deferred Compensation Agreement (Tower Bancorp Inc), Deferred Compensation Agreement (Tower Bancorp Inc)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month within sixty (60) days following the Executive’s deathdeath for a total of one hundred eighty (180) equal consecutive monthly installments.
Appears in 4 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Pinnacle Financial Partners Inc), Supplemental Executive Retirement Plan Agreement (Avenue Financial Holdings, Inc.), Supplemental Executive Retirement Plan Agreement (Avenue Financial Holdings, Inc.)
Death Before Benefit Distributions Commence. If the Executive Director is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive Director was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the ExecutiveDirector’s death.
Appears in 4 contracts
Samples: Director Retirement Agreement (Alamogordo Financial Corp), Supplemental Retirement Plan (Ameriana Bancorp), Supplemental Retirement Plan (Ameriana Bancorp)
Death Before Benefit Distributions Commence. If the Executive Director is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive Director was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s deathDirector's death for a total of one hundred eighty (180) equal consecutive monthly installments.
Appears in 4 contracts
Samples: Continuation Plan Agreement (Rhinebeck Bancorp, Inc.), Continuation Plan Agreement (Rhinebeck Bancorp, Inc.), Continuation Plan Agreement (Rhinebeck Bancorp, Inc.)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month within ninety (90) days following the Executive’s death.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Bank of the James Financial Group Inc), Salary Continuation Agreement (Bank of the James Financial Group Inc), Salary Continuation Agreement (Bank of the James Financial Group Inc)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s death. The Beneficiary shall be required to provide to the Bank the Executive’s death certificate.
Appears in 3 contracts
Samples: Retirement Agreement, Retirement Agreement (Farmers & Merchants Bancshares, Inc.), Retirement Agreement (Farmers & Merchants Bancshares, Inc.)
Death Before Benefit Distributions Commence. If the Executive Director is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive Director was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth second month following the ExecutiveDirector’s death.
Appears in 3 contracts
Samples: Director Retirement Agreement (Berkshire Hills Bancorp Inc), Director Retirement Agreement (Berkshire Hills Bancorp Inc), Director Retirement Agreement (Berkshire Hills Bancorp Inc)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s 's death.
Appears in 3 contracts
Samples: Retirement Agreement (Rhinebeck Bancorp, Inc.), Supplemental Executive Retirement Agreement (SBT Bancorp, Inc.), MFB Financial Salary Continuation Agreement (MFB Corp)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under Article 2 of this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in commence upon the manner specified in Section 3.1.2 and shall commence on the first day death of the fourth month following the Executive’s death.
Appears in 2 contracts
Samples: Juniata Valley Bank Salary Continuation Agreement (Juniata Valley Financial Corp), Juniata Valley Bank Salary Continuation Agreement (Juniata Valley Financial Corp)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank Company shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s death.the
Appears in 2 contracts
Samples: Salary Continuation Agreement (Floridian Financial Group Inc), Salary Continuation Agreement (Floridian Financial Group Inc)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank Company shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth third month following the Executive’s death. The Beneficiary shall be required to provide to the Company the Executive’s death certificate.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Tib Financial Corp.), Salary Continuation Agreement (Tib Financial Corp.)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same present value of the minimum seventeen (17) years of benefits to which the Executive was entitled prior to deathdue under this Agreement, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence a single lump sum on the first day of the fourth month following the Executive’s death. The Beneficiary shall be required to provide to the Bank the Executive’s death certificate.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Beach First National Bancshares Inc), Continuation Agreement (Beach First National Bancshares Inc)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same present value, using the Discount Rate in effect at Separation from Service, of the remaining benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence a lump sum on the first day of the fourth month following the Executive’s death.
Appears in 1 contract
Samples: Salary Continuation Agreement (HCSB Financial Corp)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s deathdeath (or, if earlier, the first day of the month following receipt of the Executive’s death certificate).
Appears in 1 contract
Samples: Salary Continuation Agreement (Harvard Illinois Bancorp, Inc.)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreementdistributions, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month within ninety (90) days following the Executive’s 's death.
Appears in 1 contract
Samples: Continuation Agreement (Bank of the James Financial Group Inc)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions benefits under this Agreement Agreement, but dies prior to the date that commencement of receiving said benefit distributions are scheduled to be made under this Agreementbenefits, the Bank shall distribute pay to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s deathbeneficiary the same benefits, in the same manner, they would have been paid to the Executive had the Executive survived; however, said benefit payments will commence within 60 days of receipt by the Bank of the Executive’s death certificate. The Beneficiary shall be required to provide to the Bank the Executive’s death certificate.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (Riverview Financial Corp)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank Company shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s death. The Beneficiary shall be required to provide to the Company the Executive’s death certificate.
Appears in 1 contract
Samples: Continuation Agreement (Floridian Financial Group Inc)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that of commencement of said benefit distributions are scheduled to be made under this Agreementdistributions, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s death.
Appears in 1 contract
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement Agreement, but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreementdistributions, the Bank shall distribute to the Beneficiary the same benefits to which that the Executive was entitled to prior to death, death except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month within sixty (60) days following the Executive’s death. The Beneficiary shall be required to provide to the Bank the Executive’s death certificate.
Appears in 1 contract
Samples: Salary Continuation Agreement (Orrstown Financial Services Inc)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said such benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the present value at Normal Retirement Age, using the Discount Rate in effect at death, of the same benefits to which the Executive was entitled prior to death, except that the benefit distributions distribution shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month a lump sum within sixty (60) days following the Executive’s death.
Appears in 1 contract
Samples: Salary Continuation Agreement (BayFirst Financial Corp.)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s death.
Appears in 1 contract
Samples: Salary Continuation Agreement (Camco Financial Corp)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits present value of the fifteen (15) year stream of payments, using the Discount Rate in effect at Separation from Service, to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month a lump sum within sixty (60) days following the Executive’s death. The Beneficiary shall be required to provide to the Bank the Executive’s death certificate.
Appears in 1 contract
Samples: Salary Continuation Agreement (Smartfinancial Inc.)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under this Agreement, the Bank Company shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s death. The Beneficiary shall be required to provide to the Company the Executive’s death certificate.
Appears in 1 contract
Samples: Salary Continuation Agreement (Tib Financial Corp.)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions benefits under this Agreement Agreement, but dies prior to the date that commencement of receiving said benefit distributions are scheduled to be made under this Agreementbenefits, the Bank shall distribute pay to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s deathbeneficiary the same benefits, in the same manner, they would havebeen paid to the Executive had the Executive survived; however, said benefit payments will commence within 60 days of receipt by the Bank of the Executive’s death certificate. The Beneficiary shall be required to provide to the Bank the Executive’s death certificate.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (Riverview Financial Corp)
Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement but dies prior to the date that commencement of said Ameriana Bank, SB Salary Continuation Plan benefit distributions are scheduled to be made under this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 3.1.2 and shall commence on the first day of the fourth month following the Executive’s death.
Appears in 1 contract
Samples: Ameriana Bancorp