Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2.
Appears in 56 contracts
Samples: Supplemental Executive Retirement Agreement (South Financial Group Inc), Supplemental Executive Retirement Agreement (South Financial Group Inc), Supplemental Executive Retirement Agreement (South Financial Group Inc)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's ’s beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 37 contracts
Samples: Consumers National Bank (Consumers Bancorp Inc /Oh/), Continuation Agreement (Community Financial Corp /Md/), Continuation Agreement (Community Financial Corp /Md/)
Death During Active Service. If the Executive dies while in the active service of the CompanyBank, the Company Bank shall pay to the Executive's ’s beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2.
Appears in 22 contracts
Samples: Acnb Bank (Acnb Corp), Salary Continuation Agreement (Acnb Corp), Salary Continuation Agreement (Acnb Corp)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary Beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 20 contracts
Samples: Salary Continuation Agreement (United Bancshares Inc/Oh), Westbury Bank Salary Continuation Agreement (Westbury Bancorp, Inc.), Salary Continuation Agreement (Westbury Bancorp, Inc.)
Death During Active Service. If the Executive dies while in the active service employment of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid 5.1 in lieu of the Lifetime Benefits of Article 2any other benefit under this Agreement.
Appears in 18 contracts
Samples: Executive Deferred Compensation Agreement (QCR Holdings Inc), Executive Deferred Compensation Agreement (North Valley Bancorp), Compensation Agreement (North Valley Bancorp)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 25.1.
Appears in 17 contracts
Samples: Incentive Retirement Agreement (Smithtown Bancorp Inc), Incentive Retirement Agreement (Smithtown Bancorp Inc), Executive Incentive Retirement Agreement (First Litchfield Financial Corp)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 13 contracts
Samples: Continuation Agreement (Tri County Financial Corp /Md/), Continuation Agreement (Tri County Financial Corp /Md/), Continuation Agreement (Tri County Financial Corp /Md/)
Death During Active Service. If the Executive dies prior to a Change in Control while in the active service of the CompanyCompany and the Bank, the Company and the Bank shall jointly and severally pay to the Executive's beneficiary Beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 13 contracts
Samples: Employment Agreement (1st United Bancorp, Inc.), Employment Agreement (1st United Bancorp, Inc.), Employment Agreement (1st United Bancorp, Inc.)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2.
Appears in 12 contracts
Samples: Salary Continuation Agreement (First Keystone Corp), Supplemental Retirement Agreement (United Financial Corp \Mn\), Ohio Agreement (Camco Financial Corp)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's ’s beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2.
Appears in 11 contracts
Samples: Continuation Agreement (Codorus Valley Bancorp Inc), Continuation Agreement (Codorus Valley Bancorp Inc), Continuation Agreement (Codorus Valley Bancorp Inc)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay distribute to the Executive's beneficiary Beneficiary the benefit described in this Section 3.1. This benefit shall be paid distributed in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 11 contracts
Samples: Continuation Agreement, Salary Continuation Agreement (Ohio Valley Banc Corp), Salary Continuation Agreement (Peoples Federal Bancshares, Inc.)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's ’s beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2.
Appears in 9 contracts
Samples: Continuation Agreement (First Keystone Corp), Continuation Agreement (Eagle Bancorp Montana, Inc.), Continuation Agreement (Eagle Bancorp Montana, Inc.)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Salary Continuation Benefits of Article 2.
Appears in 7 contracts
Samples: Agreement (West Pointe Bancorp Inc), Continuation Agreement (West Pointe Bancorp Inc), Continuation Agreement (West Pointe Bancorp Inc)
Death During Active Service. If the Executive dies while in the active service of the Company, and is entitled to a benefit under Article 2 of this Agreement, the Company shall pay the same benefit payments and for the same period of time as provided in the Agreement to the Executive's ’s beneficiary in the amount that the Executive was entitled to as of the date of his death under said Article 2, except that the benefit described in this Section 3.1. This benefit payments shall be paid in lieu commence on the first day of the Lifetime Benefits month following the date of Article 2the Executive’s death.
Appears in 6 contracts
Samples: Supplemental Executive Retirement Agreement (United Bankshares Inc/Wv), Supplemental Executive Retirement Agreement (United Bankshares Inc/Wv), Supplemental Executive Retirement Agreement (United Bankshares Inc/Wv)
Death During Active Service. If the Executive dies while in the active service of employed by the Company, the Company shall pay to the Executive's beneficiary ’s Beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2all other benefits under this Agreement.
Appears in 6 contracts
Samples: Employment Agreement (Greer Bancshares Inc), Employment Agreement (Greer Bancshares Inc), Continuation Agreement (Greer Bancshares Inc)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's ’s beneficiary the benefit described in this Section 3.1. This benefit shall be paid 5.1 in lieu of the Lifetime Benefits of Article 2any other benefit under this Agreement.
Appears in 6 contracts
Samples: Executive Deferred Compensation Agreement (ISB Financial Corp.), Restricted Stock Agreement (Cape Bancorp, Inc.), Phantom Restricted Stock (Cape Bancorp, Inc.)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of any benefits described in Article 2.
Appears in 5 contracts
Samples: Continuation Agreement (United Security Bancshares Inc), Continuation Agreement (United Security Bancshares Inc), Continuation Agreement (United Security Bancshares Inc)
Death During Active Service. If the Executive dies while in the active service of the CompanyBank, the Company Bank shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2.
Appears in 5 contracts
Samples: Retirement Plan Agreement (Capital Bancorp Inc), First National South Salary Continuation Agreement (M&m Financial Corp /Sc/), Supplemental Executive Retirement Plan Agreement (Capital Bancorp Inc)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary Beneficiary the benefit "Preretirement Death Benefit" described in this Section 3.1. This benefit shall be paid 3.1 in lieu of any other benefit under this Agreement. The Company shall not pay any Preretirement Death Benefit under this Section 3.1 if the Lifetime Benefits of Executive has received any lifetime benefit payment provided under Article 2.
Appears in 5 contracts
Samples: Agreement (Cb Bancshares Inc/Hi), Agreement (Cb Bancshares Inc/Hi), Agreement (Cb Bancshares Inc/Hi)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid 5.1 in lieu of the Lifetime Benefits of Article 2any other benefit under this Agreement.
Appears in 5 contracts
Samples: Conway National Bank Phantom Stock Agreement (CNB Corp /Sc/), Trust Deferred Compensation Agreement (Southern Michigan Bancorp Inc), Trust Deferred Compensation Agreement (Southern Michigan Bancorp Inc)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit a Death Benefit as described in this Section 3.1. This benefit Death Benefit shall be paid in lieu of the Lifetime Benefits payment of benefits to Executive under Article 2.
Appears in 5 contracts
Samples: Continuation Agreement (First Community Financial Corp), Continuation Agreement (First Community Financial Corp), Continuation Agreement (First Community Financial Corp)
Death During Active Service. If the Executive dies while in employed by the active service Employer, instead of any benefits payable under Article 2 of this Agreement the Company, the Company Employer shall pay to the Executive's beneficiary ’s Beneficiary the present value of the amount necessary to provide the full benefit described in section 2.1.1 and identified on Schedule A. The Employer shall pay the death benefit under this Section 3.1. This benefit shall be paid in lieu of 3.1 within thirty (30) days after the Lifetime Benefits of Article 2Executive’s death.
Appears in 4 contracts
Samples: Salary Continuation Agreement (Gateway Financial Holdings Inc), Salary Continuation Agreement (Gateway Financial Holdings Inc), Salary Continuation Agreement (Gateway Financial Holdings Inc)
Death During Active Service. If the Executive dies while in the active service of to the Company, the Company shall pay distribute to the Executive's beneficiary Beneficiary the benefit described in this Section 3.15.1. This benefit shall be paid distributed in lieu of the Lifetime Benefits of benefits under Article 24.
Appears in 4 contracts
Samples: Executive Centive Retirement Plan (Sterling Bancorp, Inc.), Executive Incentive Retirement Plan (Sterling Bancorp, Inc.), Sterling Bancorp, Inc.
Death During Active Service. If the Executive dies while in the active service of the Company, the The Company shall pay to the Executive's beneficiary Beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu 3.1 if the Executive dies: (i) prior to Separation From Service and prior to Disability before the Normal Retirement Date and (ii) prior to a Change of the Lifetime Benefits of Article 2Control.
Appears in 3 contracts
Samples: Executive Supplemental Income Agreement (Peoples Financial Corp /MS/), Executive Supplemental Income Agreement (Peoples Financial Corp /MS/), Executive Supplemental Income Agreement (Peoples Financial Corp /MS/)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary Beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of any benefits under Article 2.
Appears in 3 contracts
Samples: Salary Continuation Agreement (First Security Group Inc/Tn), Salary Continuation Agreement (First Security Group Inc/Tn), Salary Continuation Agreement (First Security Group Inc/Tn)
Death During Active Service. If the Executive dies while in the active service of the CompanyCompany and the Bank, the Company and the Bank shall jointly and severally pay to the Executive's beneficiary Beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 3 contracts
Samples: Supplemental Executive Retirement Plan Agreement (1st United Bancorp, Inc.), Supplemental Executive Retirement Plan Agreement (1st United Bancorp, Inc.), Supplemental Executive Retirement Plan Agreement (1st United Bancorp, Inc.)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary ’s Beneficiary the benefit “Preretirement Death Benefit” described in this Section 3.1. This benefit shall be paid 3.1 in lieu of any other benefit under this Agreement. The Company shall not pay any Preretirement Death Benefit under this Section 3.1 if the Lifetime Benefits of Executive has received any lifetime benefit payment provided under Article 2.
Appears in 3 contracts
Samples: Agreement (Central Pacific Financial Corp), Agreement (Central Pacific Financial Corp), Agreement (Cb Bancshares Inc/Hi)
Death During Active Service. If the Executive dies while in the active service of the CompanyCorporation, the Company Corporation shall pay distribute to the Executive's beneficiary Beneficiary the benefit described in this Section 3.1. This benefit shall be paid distributed in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 2 contracts
Samples: Continuation Agreement (National Bankshares Inc), Continuation Agreement (National Bankshares Inc)
Death During Active Service. If the Executive dies while in the --------------------------- active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of described in Article 2.
Appears in 2 contracts
Samples: Continuation Agreement (United Panam Financial Corp), Continuation Agreement (United Panam Financial Corp)
Death During Active Service. If Upon the Executive dies Executive’s death while in the active service of the Company, the Company shall pay to the Executive's ’s designated beneficiary, or if no beneficiary has been designated, to Executive’s estate, the benefit described in this Section 3.1. This benefit shall be paid 3.1 in lieu of the Lifetime Benefits of Article 2any other benefit under this Agreement.
Appears in 2 contracts
Samples: Canyon National Bank (Canyon Bancorp), Canyon National Bank (Canyon Bancorp)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.13. 1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2.
Appears in 2 contracts
Samples: Continuation Agreement (Orrstown Financial Services Inc), Continuation Agreement (Fidelity Bancorp Inc)
Death During Active Service. If the Executive dies while in employed by the active service Employer, instead of the Company, the Company shall pay to any benefits payable under Article 2 of this Agreement the Executive's beneficiary ’s Beneficiary shall receive the benefit benefits described in this Section 3.1. This benefit shall be paid 3.1 in lieu of the Lifetime Benefits of Article 2any other benefits under this Agreement.
Appears in 2 contracts
Samples: Salary Continuation Plan (Charter Financial Corp/Ga), Salary Continuation Plan (Charter Financial Corp)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 23.1.
Appears in 2 contracts
Samples: Continuation Agreement (City National Bancshares Corp), Continuation Agreement (City National Bancshares Corp)
Death During Active Service. If the Executive dies while in the active service of employed by the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid 3.1 in lieu of the Lifetime Benefits of Article 2any other benefit under this Agreement.
Appears in 2 contracts
Samples: Peoples National Bank (Peoples Bancorporation Inc /Sc/), Continuation Agreement (Peoples Bancorporation Inc /Sc/)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's ’s beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 25.1.
Appears in 2 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Sunshine Bancorp, Inc.), Supplemental Executive Retirement Plan Agreement (Sunshine Bancorp, Inc.)
Death During Active Service. If the Executive dies while in the active service of the CompanyEmployer, the Company Employer shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 1 contract
Death During Active Service. If the Executive dies while in the active service of the Company, prior to the 5th Anniversary of Executive’s date of hire, October 20, 2013, the Company shall pay distribute to the Executive's beneficiary Beneficiary the benefit described in this Section 3.1. This benefit shall be paid distributed in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (Fentura Financial Inc)
Death During Active Service. If the Executive dies while in the active service prior to a Termination of the CompanyEmployment, the Company shall pay to the Executive's beneficiary Beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of any benefits under Article 2.
Appears in 1 contract
Samples: Salary Continuation Agreement (Synovus Financial Corp)
Death During Active Service. If the Executive dies while in employed by the active service of the CompanyCompany and prior to receiving any payments under this Agreement, the Company shall pay to the Executive's ’s beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2.
Appears in 1 contract
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit Benefit as described in this Section 3.1. This benefit Benefit shall be paid in lieu of the Lifetime Benefits payment of benefits to Executive under Article 2.
Appears in 1 contract
Samples: Continuation Agreement (First Community Financial Corp)
Death During Active Service. If the Executive dies while in the active service of the CompanyCompany or a Subsidiary, the Company shall pay to the Executive's ’s beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (First Internet Bancorp)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid 3.1 in lieu of the Lifetime Benefits of Article 2any other benefits under this Agreement.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (South Financial Group Inc)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of mirror the Lifetime Benefits of Article 2death benefit provided by the Pension Plan.
Appears in 1 contract
Samples: Excess Benefit Plan Agreement (Home Federal Bancorp)
Death During Active Service. If the Executive dies while in the active service of the CompanyBank, the Company Bank shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article ARTICLE 2.
Appears in 1 contract
Samples: Executive Retirement Plan Agreement (Capital Bancorp Inc)
Death During Active Service. If the Executive dies while in the active service of the CompanyEmployer, the Company Employer shall pay to the Executive's ’s beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (Midwest Banc Holdings Inc)
Death During Active Service. If the Executive dies while in the active service of the Company, prior to the Executive’s attainment of age 65, the Company shall pay distribute to the Executive's beneficiary Beneficiary the benefit described in this Section 3.1. This benefit shall be paid distributed in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 1 contract
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's ’s designated beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2.
Appears in 1 contract
Samples: Supplemental Retirement Agreement (United Financial Corp \Mn\)
Death During Active Service. If the Executive dies [while in the active service of to the Company/prior to Termination of Employment], the Company shall pay distribute to the Executive's beneficiary Beneficiary the benefit described in this Section 3.15.1. This benefit shall be paid distributed in lieu of the Lifetime Benefits of benefits under Article 24.
Appears in 1 contract
Samples: Executive Deferred Compensation Agreement (Ohio Valley Banc Corp)
Death During Active Service. If the Executive dies [while in the active service of to the Company/prior to Termination of Employment], the Company shall pay distribute to the Executive's beneficiary Beneficiary the benefit described in this Section 3.15.1. This benefit shall be paid distributed in lieu of the Lifetime Benefits of benefits under Article 2.4. 5.1.1
Appears in 1 contract
Samples: Executive Deferred Compensation Agreement (Ohio Valley Banc Corp)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in the Split Dollar Agreement of even date herewith between the Company and the Executive; provided, however, the Company shall not pay any benefit under this Section 3.1. This benefit shall be paid in lieu 5.1 if the Executive has received any of the Lifetime Retirement Benefits of under Article 24.
Appears in 1 contract
Samples: Incentive Retirement Agreement (Ridgestone Financial Services Inc)
Death During Active Service. If the Executive dies while in the active service of the Company, or after meeting the definition of Disability, the Company shall pay to the Executive's beneficiary Beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of benefits under Article 2, and in lieu of any other benefits under this Article.
Appears in 1 contract
Death During Active Service. If the Executive dies while in the active service of the Company, the The Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu 3.1 if the Executive dies: (i) while employed by the Company; or, (ii) after Termination of Employment due to Disability prior to the Lifetime Benefits of Article 2Normal Retirement Date.
Appears in 1 contract
Samples: Supplemental Income Agreement (Peoples Financial Corp /MS/)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.13. This benefit shall be paid in lieu of the Lifetime Benefits of Article 21.
Appears in 1 contract
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary the benefit described in the Split Dollar Agreement of even date herewith between the Company and the Executive; provided, however, the Company shall not pay any benefit under this Section 3.1. This benefit shall be paid in lieu 3.1 if the Executive has received any of the Lifetime Termination Benefits of under Article 2.
Appears in 1 contract
Samples: Continuation Agreement (Ridgestone Financial Services Inc)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary Beneficiary the benefit "Preretirement Death Benefit" described in this Section 3.1. This benefit shall be paid 4.1 in lieu of any other benefit under this Agreement. The Company shall not pay any Preretirement Death Benefit under this Section 4.1 if the Lifetime Benefits of Executive has received any lifetime benefit payment provided under Article 23.
Appears in 1 contract
Samples: Agreement (Cb Bancshares Inc/Hi)
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay distribute to the Executive's beneficiary Beneficiary the benefit described in this Section 3.15.1. This benefit shall be paid distributed in lieu of the Lifetime Benefits of benefits under Article 24.
Appears in 1 contract
Death During Active Service. If the Executive dies while in employed by the active service of the CompanyCompany and prior to receiving any payments under this Agreement, the Company shall pay to the Executive's beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2.
Appears in 1 contract
Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive's beneficiary Beneficiary(ies) the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 1 contract
Death During Active Service. If the Executive dies while in the active service of the CompanyCompany and prior to the end of the Executive’s fifth consecutive Year of Participation, the Company shall pay distribute to the Executive's beneficiary Beneficiary the benefit described in this Section 3.1. This benefit shall be paid distributed in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 1 contract
Death During Active Service. If the Executive dies while in the active service prior to Termination of the CompanyEmployment, the Company shall pay to the Executive's ’s beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of benefits under Article 2.
Appears in 1 contract
Samples: Salary Continuation Agreement (Consumers Bancorp Inc /Oh/)
Death During Active Service. If the Executive dies while in employed by the active service Employer, and prior to becoming entitled to payment of the Companybenefits under Article 2, the Company shall pay Executive’s Account will be paid to the Executive's beneficiary the benefit ’s Beneficiary as described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2.
Appears in 1 contract
Samples: Continuation Plan Agreement (Tennessee Commerce Bancorp, Inc.)