Common use of Death Benefit Prior to Commencement of Deferred Compensation Benefit Clause in Contracts

Death Benefit Prior to Commencement of Deferred Compensation Benefit. In the event of the Director's death prior to commencement of the Deferred Compensation Benefit, the Bank shall pay the Director's Beneficiary a monthly benefit for the Payout Period, commencing within thirty (30) days of the Director's death. The amount of such monthly benefit payments shall be determined as follows: (1) In the event death occurs (i) while the Director is receiving the Disability Benefit provided for in Subsection 5.2, or (ii) after the Director has become eligible for such Disability Benefit payments but before such payments have commenced, the Director's Beneficiary shall be entitled to receive the Survivor's Benefit for the number of months in the Payout Period, reduced by the number of months Disability Benefit payments were made to the Director. In the event death occurs after the Director has received the Disability Benefit provided for in Subsection 5.2 for the entire Payout Period, the Director's Beneficiary shall not be entitled to the Survivor's Benefit for any length of time. However, the lump sum payment described in paragraph two (2) of this Subsection 6.1 (a) shall still be applicable to such Beneficiary. (2) If (i) the total dollar amount of Disability Benefit payments received by the Director under Subsection 5.2 is less than the total dollar amount of payments which would have been received had the Survivor's Benefit been paid in lieu of the Disability Benefit which was paid during the Director's life, and (ii) Board of Director approval is obtained, the Bank shall pay the Director's Beneficiary a lump sum payment for the difference. This lump sum payment shall be made within thirty (30) days of the Director's death. (b) In the event death occurs while the Director is (i) in the service of the Bank, (ii) deferring fees pursuant to Section II and (iii) prior to any reduction or discontinuance (via an effective filing of a Notice of Adjustment of Deferral Amount) in the level of deferrals reflected in the Director's Joinder Agreement, the Director's Beneficiary shall be paid the Survivor's Benefit. (c) In the event the Director completes less than One Hundred Percent (100%) of his Projected Deferrals due to any voluntary or involuntary termination other than removal for Cause, death, disability, or a Change in Control, the Director's Beneficiary shall be paid a reduced Survivor's Benefit based on the annuitized value, using the Interest Factor, of the Director's Accrued Benefit Account measured as of the time of the Director's death. (d) In the event the Director completes One Hundred Percent (100%) of his Projected Deferrals prior to any voluntary or involuntary termination other than removal for Cause, and provided no payments have been made pursuant to Subsection 5.2, the Director's Beneficiary shall be paid the Survivor's Benefit.

Death Benefit Prior to Commencement of Deferred Compensation Benefit. In the event of the Director's ’s death prior to commencement of the Deferred Compensation Benefit, the Bank shall pay the Director's ’s Beneficiary a monthly benefit amount for the Payout Period, commencing within thirty (30) days of the Director's ’s death. The amount of such monthly benefit payments payment shall be determined as follows: (1a) In the event death occurs (i) while the Director is receiving the Disability Benefit provided for in Subsection 5.24.2, or (ii) after the Director has become eligible for such Disability Benefit payments but before such payments have commenced, the Director's ’s Beneficiary shall be entitled to receive a continuation of the Survivor's Disability Benefit for the number of months annuity (computed in the Payout Periodaccordance with Subsection 4.2), reduced by the number of months Disability Benefit payments were made to the Director. In the event death occurs after the Director has received the Disability Benefit provided for in Subsection 5.2 for the entire Payout Period, the Director's Beneficiary shall not be entitled to the Survivor's Benefit for any length of time. However, the lump sum payment described in paragraph two (2) of this Subsection 6.1 (a) shall still be applicable to such Beneficiary. (2) If (i) the total dollar amount of Disability Benefit payments received by the Director under Subsection 5.2 is less than the total dollar amount of payments which would have been received had the Survivor's Benefit been paid in lieu of the Disability Benefit which was paid during the Director's life, and (ii) Board of Director approval is obtained, the Bank shall pay the Director's Beneficiary a lump sum payment for the difference. This lump sum payment shall be made within thirty (30) days of the Director's death. (b) In the event death occurs while the Director is (i) in the service of the Bank, (ii) deferring fees pursuant to Section II IT and (iiiIii) prior to any reduction or discontinuance (discontinuance, via an effective filing of a Notice of Adjustment of Deferral Amount) , in the level of deferrals reflected in the Director's ’s initial Joinder Agreement, for any period during the Deferral Period, the Director's ’s Beneficiary shall be paid the greater of: (i) the Survivor's ’s Benefit, or (ii) the annuitized value (using the Interest Factor) of the Director’s Elective Contribution Account, measured as of the date of the Director’s death. (c) In the event death occurs while the Director is (i) in the service of the Bank, (ii) deferring fees pursuant to Section IT and (ill) ~ any reduction or discontinuance, via an effective filing of a Notice of Adjustment of Deferral Amount, in the level of deferrals reflected in the Director’s initial Joinder Agreement, for any period during the Deferral Period, the Director’s Beneficiary shall be paid the greater of: (i) a reduced Survivor’s Benefit, such amount being determined by multiplying the monthly payment available as a Survivor’s Benefit by a traction, the numerator of which is equal to the total Board fees actually deferred by the Director as of his death and the denominator of which is equal to the amount of Board fees that would have been deferred as of his death, if no reduction or discontinuance in the level of deferrals had occurred at any time following execution of the Joinder Agreement and during the Deferral Period, or (ii) the annuitized value (using the Interest Factor) of the Director’s Elective Contribution Account, measured as of the date of the Director’s death. (d) In the event the Director completes less than One Hundred Percent one hundred percent (100%) of his Projected Deferrals due to any voluntary or involuntary termination other than removal for Cause, death, disability, or a Change in Control, the Director's Beneficiary shall be paid a reduced Survivor's Benefit based on the annuitized value, using the Interest Factor, of the Director's Accrued Benefit Account measured as of the time of the Director's death. (d) In the event the Director completes One Hundred Percent (100%) of his Projected Deferrals prior to any voluntary or involuntary termination other than removal for Cause, and provided no payments have been made pursuant to Subsection 5.2, the Director's ’s Beneficiary shall be paid the greater of: (i) a reduced Survivor's ’s Benefit., such amount being determined by multiplying the monthly payment available as a Survivor’s Benefit by a fraction, the numerator of which is equal to the total Board fees actually deferred by the Director and the denominator of which is equal to the Director’s Projected Deferral, or (ii) the annuitized value (using the Interest Factor) of the Director’s Elective Contribution Account, measured as of the date of termination of the Director’s service. The foI1owing Section XIII is added to the Agreement:

Death Benefit Prior to Commencement of Deferred Compensation Benefit. In -------------------------------------------------------------------- the event of the Director's death prior to commencement of the Deferred Compensation Benefit, the Bank shall pay the Director's Beneficiary a monthly benefit for the Payout Period, Survivor's Benefit commencing within thirty (30) days of the Director's death. The amount of such monthly benefit payments the Survivor's Benefit shall be determined as follows: (1) In the event death occurs (i) while the Director is receiving the Disability Benefit provided for in Subsection 5.2, or (ii) after the Director has become eligible for such Disability Benefit payments but before such payments have commenced, the Director's Beneficiary shall be entitled to receive the Survivor's Benefit for the number of months in the Payout Period, reduced by the number of months Disability Benefit payments were made to the Director. In the event death occurs after the Director has received the Disability Benefit provided for in Subsection 5.2 for the entire Payout Period, the ------ Director's Beneficiary shall not be entitled to the Survivor's Benefit --- for any length of time. However, the lump sum payment described in paragraph two (2) of this Subsection 6.1 (a6.1(a) shall still be applicable to such Beneficiary. (2) If Furthermore, if (i) the total dollar amount of Disability Benefit payments received by the Director under Subsection 5.2 is less than the total dollar amount of payments which would have been received had the Survivor's Benefit been paid in lieu of the Disability Benefit which was paid during the Director's life, and (ii) Board of Director approval is obtained, the Bank shall pay the Director's Beneficiary a lump sum payment for the difference. This lump sum payment shall be made within thirty (30) days of the Director's death. (b) In the event death occurs while the Director is (i) in the service of the Bank, (ii) deferring fees pursuant to Section II III and (iii) prior ----- to any reduction or discontinuance (via an effective filing of a Notice of Adjustment of Deferral Amount) , in the level of deferrals reflected in the Director's Joinder Agreement, for any period during the Deferral Period, the Director's Beneficiary shall be paid the greater of: (i) the Survivor's Benefit, or (ii) the annuitized value (using the Interest Factor) of the Director's Elective Contribution Account, measured as of the date of the Director's death. (c) In the event death occurs while the Director is (i) in the service of the Bank, (ii) deferring fees and/or retainer pursuant to Section III, and (iii) after any reduction or discontinuance, via an effective ----- filing of a Notice of Adjustment of Deferral Amount, in the level of deferrals reflected in the Director's Joinder Agreement, for any period during the Deferral Period, the Director's Beneficiary shall be paid (i) a reduced Survivor's Benefit, such amount being determined by multiplying the monthly payment available as a Survivor's Benefit by a fraction, the numerator of which is equal to the total Board fees actually deferred by the Director as of his death, and the denominator of which is equal to the total amount of Board fees which would have been deferred as of his death, if no reduction or discontinuance in the level of deferrals had occurred at any time following execution of the Joinder Agreement and during the Deferral Period, or (ii) the annuitized value (using the Interest Factor) of the Director's Elective Contribution Account, measured as of the date of the Director's death. (d) In the event the Director completes less than One Hundred Percent one hunded percent (100%) of his Projected Deferrals due to any voluntary or involuntary termination other than removal for Cause, death, disability, or a Change in Control, the Director's Beneficiary shall be paid the greater of : (i) a reduced Survivor's Benefit, such amount being determined by multiplying the monthly payment available as a Survivor's Benefit based on by a fraction, the numerator of which is equal to the total Board fees actually deferred by the Director and the denominator of which is equal to the Director's Projected Deferral, or (ii) the annuitized value, value (using the Interest Factor, ) of the Director's Accrued Benefit Account Elective Contribution Account, measured as of the time date of termination of the Director's deathservice. (de) In the event the Director completes One Hundred Percent (100%) of his Projected Deferrals of his Projected Deferral due to termination on account of a Change in Control, the Director's Beneficiary shall be paid, in addition to the amount provided in Subsection 6.1(d), a benefit in an amount equal to the annuitized value (using the Interest Factor) of the lesser of three (3) additional years of deferrals needed to complete his Deferral Period. (f) In the event death occurs and the Director has completed One Hundred Percent (100%) of his Projected Deferral prior to any voluntary or ----- involuntary termination other than removal for Cause, and provided no payments have been made pursuant to Subsection 5.2, the Director's Beneficiary shall be paid the Survivor's Benefit.

Death Benefit Prior to Commencement of Deferred Compensation Benefit. In the event of the Director's ’s death prior to commencement of the Deferred Compensation Benefit, the Bank shall pay the Director's ’s Beneficiary a monthly benefit amount for the Payout Period, commencing within thirty (30) days of the Director's ’s death. The amount of such monthly benefit payments shall be determined as follows: (1a) In the event death occurs (i) while the Director is receiving the Disability Benefit provided for in Subsection 5.24.2, or (iill) after the Director has become eligible for such Disability Benefit payments but before such payments have commenced, the Director's ’s Beneficiary shall be entitled to receive the Survivor's ’s Benefit for the number of months in the Payout Period, reduced by the number of months Disability Benefit payments were made to the Director. In the event death occurs after the Director has received the Disability Benefit provided for in Subsection 5.2 for the entire Payout Period, the Director's Beneficiary shall not be entitled to the Survivor's Benefit for any length of time. However, the lump sum payment described in paragraph two (2) of this Subsection 6.1 (a) shall still be applicable to such Beneficiary. (2) If (i) the total dollar amount of Disability Benefit payments received by the Director under Subsection 5.2 4.2 is less than the total dollar amount of payments which that would have been received had the Survivor's ’s Benefit been paid in lieu of the Disability Benefit which was paid during the Director's ’s life, and (ii) Board of Director approval is obtained, the Bank shall pay the Director's ’s Beneficiary a lump sum payment for the difference. This lump sum payment shall be made within thirty (30) days of the Director's ’s death. (b) In the event death occurs while the Director is (i) in the service of the Bank, (ii) deferring fees pursuant to Section II IT and (iii) prior to any reduction or discontinuance (discontinuance, via an effective filing of a Notice of Adjustment of Deferral Amount) , in the level of deferrals reflected in the Director's ’s initial Joinder Agreement, for any period during the Deferral Period, the Director's ’s Beneficiary shall be paid the Survivor's ’s Benefit. (c) In the event death occurs while the Director completes less than One Hundred Percent is (100%i) in the service of his Projected Deferrals due the Bank, (ii) deferring fees pursuant to Section’ IT and (iii) after any voluntary reduction or involuntary termination other than removal discontinuance, via an effective filing of a Notice of Adjustment of Deferral Amount,. in the level of deferrals reflected in the Director’s initial Joinder Agreement, for Cause, death, disability, or a Change in Controlany period during the Deferral Period, the Director's ’s Beneficiary shall be paid a reduced Survivor's ’s Benefit, such amount being determined by multiplying the monthly payment available as a Survivor’s Benefit based on by a traction, the annuitized value, using numerator of which is equal to the Interest Factor, of total Board fees actually deferred’ by the Director's Accrued Benefit Account measured Director as of his death and the time denominator of which is equal to the Director's amount of board fees that would have been deferred as of his death, if no reduction or discontinuance in the level of deferrals had occurred at anytime following execution of the, Joinder Agreement and during the Deferral Period. (d) In the event the Director completes One Hundred Percent less than one hundred (100%) percent of his Projected Deferrals prior due to any any. voluntary or involuntary termination other than removal for Cause, and provided no payments have been made pursuant to Subsection 5.2, the Director's ’s Beneficiary shall be paid a reduced Survivor’s Benefit, such amount being determined by multiplying the monthly payment available as a Survivor's Benefit’s Benefit by a fraction, the numerator of which is equal to the total Board fees actually deferred by the Director and the denominator of which is equal to the Director’s Projected Deferral.

Death Benefit Prior to Commencement of Deferred Compensation Benefit. In the event of the Director's ’s death prior to commencement of the Deferred Compensation Benefit, the Bank shall pay the Director's ’s Beneficiary a monthly benefit for the Payout Period, commencing within thirty (30) days of the Director's death. The amount of such monthly benefit payments shall be determined as follows: (1a) In the event death occurs (i) while the Director is receiving the Disability Benefit provided for in Subsection 5.24.2, or (ii) after the Director has become eligible for such Disability Benefit payments but before such payments have commenced, ‘the Director's ’s Beneficiary shall be entitled to receive a continuation of the Survivor's Disability Benefit payments for the number of months in the Payout Period, reduced by the number of months Disability Benefit payments were made to the Director. In the event death occurs after the Director has received the Disability Benefit Benefit, provided for in Subsection 5.2 4.2, for the entire Payout Payout-Period, the Director's ’s Beneficiary shall not be entitled to the Survivor's ’s Benefit for any length of time. However, the lump sum payment described in the second paragraph two (2) of this Subsection 6.1 (a) shall still be applicable to such Beneficiary. (2) . If (i) the total dollar amount of Disability Benefit payments received received, collectively, by the Director under Subsection 5.2 4.2 and by the Director’s Beneficiary under this Subsection is less than the total dollar amount of payments which that would have been received had the Survivor's ’s Benefit been paid in lieu of the Disability Benefit which was paid during the Director's lifeto such Director and to such Beneficiary, and (ii) Board of Director approval is obtainedcollectively, the Bank shall pay the Director's ’s Beneficiary a lump sum payment for the difference. This lump sum payment shall be made within thirty (30) days of the Director's deathsubsequent death of any other Director electing to participate in this agreement. (b) In the event death occurs while the Director is (i) in the service of the Bank, (ii) deferring fees pursuant to Section II and (iii) prior for to any reduction or discontinuance (discontinuance, via an effective filing of a Notice of Adjustment of Deferral Amount) , in the level of deferrals reflected in the Director's ’s initial Joinder Agreement, for any period during the Deferral Period, the Director's ’s Beneficiary shall be paid the Survivor's ’s Benefit. Such Survivor’s Benefit shall be paid for the Payout Period and shall commence within thirty (30) days of the subsequent death of any other Director electing to participate in this Agreement. (c) In the event death occurs while the Director is (i) in the service of the Bank, (ii) deferring fees pursuant to Section II and (iii) after any reduction or discontinuance, via an effective filing of a Notice of Adjustment of Deferral Amount, in the level of deferrals reflected in the Director’s initial Joinder Agreement, for any period during the Deferral Period, the Director’s Beneficiary shall be paid a reduced Survivor’s Benefit, such amount being determined by multiplying the monthly payment available as a Survivor’s Benefit by a fraction, the numerator of which is equal to the, total Board fees actually deferred by the Director as of his death and the denominator of which is equal to the amount of Board fees that would have been deferred as of his death, if no reduction or discontinuance in the level of deferrals had occurred at any time following execution of the Joinder Agreement and during the Deferral Period. Such reduced Survivor’s Benefit shall be paid for the Payout Period and shall commence within thirty (30) days of the subsequent death of any other Director electing to participate in this Agreement. (d) In the event the Director completes less than One Hundred Percent one hundred (100%) percent of his Projected Deferrals due to any voluntary or involuntary termination other than removal for Cause, death, disability, or a Change in Control, the Director's ’s Beneficiary shall be paid a reduced Survivor's ’s Benefit, such amount being determined by multiplying the monthly payment available as a Survivor’s Benefit based on by a fraction, the annuitized value, using numerator of which is equal to the Interest Factor, total Board fees actually deferred by the Director and the denominator of which is equal to the Director’s Projected Deferral. Such reduced Survivor’s Benefit shall be paid for the Payout Period and shall commence within thirty (30) days of the Director's Accrued Benefit Account measured as subsequent death of the time of the Director's deathany other Director electing to participate in this Agreement. (de) In the event the Director completes One Hundred Percent one hundred (100%) percent of his Projected Deferrals prior to any voluntary or involuntary termination other than removal for Cause, Cause and provided no payments have been made pursuant to Subsection 5.24.2, the Director's ’s Beneficiary shall be paid the full Survivor's ’s Benefit. Such Survivor’s Benefit shall be paid for the Payout Period and shall commence within thirty (30) days of the subsequent death of any other Director electing to participate in this Agreement.

Death Benefit Prior to Commencement of Deferred Compensation Benefit. In the event of the DirectorExecutive's death prior to commencement of the Deferred Compensation Benefit, the Bank shall pay the DirectorExecutive's Beneficiary a monthly benefit amount for the Payout Period, commencing within thirty (30) days of the DirectorExecutive's death. The amount of such monthly benefit payments payment shall be determined as follows: (1a) In the event death occurs (i) while the Director Executive is receiving the Disability Benefit provided for in Subsection 5.24.2, or (ii) after the Director Executive has become eligible for such Disability Benefit payments but before such payments have commenced, the DirectorExecutive's Beneficiary shall be entitled to receive a continuation of the Survivor's Disability Benefit for the number of months annuity (computed in the Payout Periodaccordance with Subsection 4.2), reduced by the number of months Disability Benefit payments were made to the Director. In the event death occurs after the Director has received the Disability Benefit provided for in Subsection 5.2 for the entire Payout Period, the Director's Beneficiary shall not be entitled to the Survivor's Benefit for any length of time. However, the lump sum payment described in paragraph two (2) of this Subsection 6.1 (a) shall still be applicable to such Beneficiary. (2) If (i) the total dollar amount of Disability Benefit payments received by the Director under Subsection 5.2 is less than the total dollar amount of payments which would have been received had the Survivor's Benefit been paid in lieu of the Disability Benefit which was paid during the Director's life, and (ii) Board of Director approval is obtained, the Bank shall pay the Director's Beneficiary a lump sum payment for the difference. This lump sum payment shall be made within thirty (30) days of the Director's deathExecutive. (b) In the event death occurs while the Director Executive is (i) in the service of the Bank, (ii) deferring fees compensation pursuant to Section II and (iii) prior PRIOR to any reduction or discontinuance (discontinuance, via an effective filing of a Notice of Adjustment of Deferral Amount) , in the level of deferrals reflected in the DirectorExecutive's initial Joinder Agreement, for any period during the DirectorDeferral Period, the Executive's Beneficiary shall be paid the greater of: (i) the Survivor's Benefit, or (ii) the annuitized value (using the Interest Factor) of the Executive's Elective Contribution and Matching Contribution Accounts, measured as of the date of the Executive's death. (c) In the event death occurs while the Director Executive is (i) in the service of the Bank, (ii) deferring compensation pursuant to Section II and (iii) AFTER any reduction or discontinuance, via an effective filing of a Notice of Adjustment of Deferral Amount, in the level of deferrals reflected in the Executive's initial Joinder Agreement, for any period during the Deferral Period, the Executive's Beneficiary shall be paid the greater of: (i) a reduced Survivor's Benefit, such amount being determined by multiplying the monthly payment available as a Survivor's Benefit by a fraction, the numerator of which is equal to the total compensation actually deferred by the Executive plus Matching Contributions made on his behalf as of his death and the denominator of which is equal to the amount of compensation that would have been deferred as of his death and Matching Contributions made on his behalf if no reduction or discontinuance in the level of deferrals had occurred at any time following execution of the Joinder Agreement and during the Deferral Period, or (ii) the annuitized value (using the Interest Factor) of the Executive's Elective Contribution and Matching Contribution Accounts, measured as of the date of the Executive's death. (d) In the event the Executive completes less than One Hundred Percent one hundred percent (100%) of his Projected Deferrals due to any voluntary or involuntary termination other than removal for Cause, death, disability, or a Change in Control, the Director's Beneficiary shall be paid a reduced Survivor's Benefit based on the annuitized value, using the Interest Factor, of the Director's Accrued Benefit Account measured as of the time of the Director's death. (d) In the event the Director completes One Hundred Percent (100%) of his Projected Deferrals prior to any voluntary or involuntary termination other than removal for Cause, and provided no payments have been made pursuant to Subsection 5.2, the DirectorExecutive's Beneficiary shall be paid the greater of: (i) a reduced Survivor's Benefit, such amount being determined by multiplying the monthly payment available as a Survivor's Benefit by a fraction, the numerator of which is equal to the total compensation actually deferred by the Executive plus Matching Contributions made on his behalf and the denominator of which is equal to the Executive's Projected Deferral, or (ii) the annuitized value (using the Interest Factor) of the Executive's Elective Contribution and Matching Contribution Accounts, measured as of the date of termination of the Executive's service.