Death Benefits. After the Executive’s death, the Bank shall pay to the Executive’s Beneficiary the Account Balance as of the date of the Executive’s death. The Account Balance shall be paid to the Executive’s Beneficiary in a single lump sum, 90 days after the date of the Executive’s death. However, if the Executive dies after termination of this Agreement under Article 6, the Executive’s Beneficiary shall be entitled to no benefits under this Agreement.
Appears in 12 contracts
Samples: Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp)
Death Benefits. After the Executive’s death, the Bank shall pay to the Executive’s Beneficiary the Account Balance as of the date of the Executive’s death. The Account Balance shall be paid to the Executive’s Beneficiary in a single lump sum, sum 90 days after the date of the Executive’s death. However, if the Executive dies after termination of this Agreement under Article 6, the Executive’s Beneficiary shall be entitled to no benefits under this Agreement.
Appears in 8 contracts
Samples: Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp)
Death Benefits. After the Executive’s death, the Bank shall pay to the Executive’s Beneficiary the Account Balance as of the date of the Executive’s death. The Account Balance shall be paid to the Executive’s Beneficiary in a single lump sum, sum within 90 days after the date of the Executive’s death. However, if the Executive dies after termination of this Agreement under Article 6, the Executive’s Beneficiary shall be entitled to no benefits under this Agreement.
Appears in 3 contracts
Samples: Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp)
Death Benefits. After the Executive’s death, the Bank shall will pay to the Executive’s Beneficiary the Account Balance as of the date of the Executive’s death. The Account Balance shall will be paid to the Executive’s Beneficiary in a single lump sum, sum 90 days after the date of the Executive’s death. However, if the Executive dies after termination of this Agreement under Article 6, the Executive’s Beneficiary shall be is entitled to no benefits under this Agreement.
Appears in 2 contracts
Samples: Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp)
Death Benefits. After the Executive’s 's death, the Bank shall pay to the Executive’s 's Beneficiary the Account Balance as of the date of the Executive’s 's death. The Account Balance shall be paid to the Executive’s 's Beneficiary in a single lump sum, sum 90 days after the date of the Executive’s 's death. However, if the Executive dies after termination of this Agreement under Article 6, the Executive’s 's Beneficiary shall be entitled to no benefits under this Agreement.
Appears in 1 contract
Samples: Defined Contribution Supplemental Executive Retirement Plan (Southern Michigan Bancorp Inc)
