Death During Active Service. If the Executive dies before the Normal Retirement Age while in the active service of the Bank, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 5 contracts
Samples: Salary Continuation Agreement (Cortland Bancorp Inc), Salary Continuation Agreement (Cortland Bancorp Inc), Salary Continuation Agreement (Cortland Bancorp Inc)
Death During Active Service. If Except as provided in Section 5.2, if the Executive dies in active service to the Bank before the Normal Retirement Age while in the active service of the BankAge, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies’s Beneficiary (a) a lump sum payment equal to the Accrual Balance at the time of the Executive’s death, and (b) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 4 contracts
Samples: Salary Continuation Agreement, Salary Continuation Agreement (Midcarolina Financial Corp), Salary Continuation Agreement (Midcarolina Financial Corp)
Death During Active Service. If Except as provided in Section 5.2, if the Executive dies in active service to the Bank before the Normal Retirement Age while in the active service of the BankDate, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(iesBeneficiary (a) an amount in cash equal to the Accrual Balance at the time of the Executive's death (without regard to vesting), and (b) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 4 contracts
Samples: Salary Continuation Agreement (Citizens South Banking Corp), Salary Continuation Agreement (Citizens South Banking Corp), Salary Continuation Agreement (Citizens South Banking Corp)
Death During Active Service. If the Executive dies in active service to the Bank before the Normal Retirement Age while in the active service of the BankAge, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies) ’s Beneficiary shall be entitled solely to the benefit described in the Second Amended January 1, 2002 Split Dollar Agreement between the Bank and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.Executive.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc)
Death During Active Service. If the Executive dies in active service to the Bank before the Normal Retirement Age while Age, the Executive’s Beneficiary shall be entitled to (a) an amount in cash equal to the active service Accrual Balance at the time of the BankExecutive’s death (unless the Change-in-Control benefit under Section 2.4 shall have previously been paid), instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(iesand (b) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Oak Ridge Financial Services, Inc.), Salary Continuation Agreement (Oak Ridge Financial Services, Inc.), Salary Continuation Agreement (Oak Ridge Financial Services, Inc.)
Death During Active Service. If Except as provided in Section 5.2, if the Executive dies in active service to the Bank before the Normal Retirement Age while in the active service of the BankAge, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies’s Beneficiary (a) an amount in cash equal to the Accrual Balance at the time of the Executive’s death, and (b) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Midcarolina Financial Corp), Salary Continuation Agreement (Midcarolina Financial Corp), Salary Continuation Agreement (Midcarolina Financial Corp)
Death During Active Service. If Except as provided in Section 5.1, if the Executive dies in active service to the Bank before the Normal Retirement Age while in the active service of the BankAge, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies) the benefit described in the Second Amended Split Dollar Executive Survivor Income Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Premierwest Bancorp), Salary Continuation Agreement (Premierwest Bancorp)
Death During Active Service. If the Executive dies in active service to the Bank before the Normal Retirement Age while Date, the Executive’s designated beneficiary is entitled to receive the benefit in the active service of the Bank, this Section 3.1 instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.Agreement.
Appears in 2 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Premierwest Bancorp), Supplemental Executive Retirement Plan Agreement (Premierwest Bancorp)
Death During Active Service. If the Executive dies in active service to the Bank before the Normal Retirement Age while in the active service of the BankDate, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies’s Beneficiary (a) an amount in cash equal to the Accrual Balance at the end of the Plan Year preceding the year of the Executive’s death, unless the Change-in-Control benefit shall have previously been paid to the Executive under Section 2.4, and (b) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 2 contracts
Samples: Salary Continuation Agreement (BNC Bancorp), Salary Continuation Agreement (BNC Bancorp)
Death During Active Service. If Except as provided in Section 5.2, if the Executive dies in active service to the Bank before the Normal Retirement Age while in the active service of the BankDate, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies’s Beneficiary (a) an amount in cash equal to the Accrual Balance at the end of the Plan Year preceding the year of the Executive’s death, unless the Change-in-Control benefit shall have previously been paid to the Executive under Section 2.4, and (b) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 2 contracts
Samples: Salary Continuation Agreement, Salary Continuation Agreement (BNC Bancorp)
Death During Active Service. If Except as provided in Section 5.2, if the Executive dies in active service to the Bank before the Normal Retirement Age while in the active service of the BankAge, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's ’s beneficiary(ies) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc)
Death During Active Service. If Except as provided in Section 5.2, if the Executive dies in active service to the Bank before the Normal Retirement Age while in the active service of the BankAge, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(iesBeneficiary (a) an amount in cash equal to the Accrual Balance at the time of the Executive's death, and (b) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Citizens South Banking Corp), Salary Continuation Agreement (Citizens South Banking Corp)
Death During Active Service. If the Executive dies before the Normal Retirement Age while in the active service of the Bank, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Cortland Bancorp Inc), Salary Continuation Agreement (Cortland Bancorp Inc)
Death During Active Service. If the Executive dies before while employed by the Bank prior to the Executive’s retirement, which retirement may not necessarily occur on the Normal Retirement Age while in the active service of the BankDate, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies) ’s beneficiary the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.Section 3.1.
Appears in 1 contract
Samples: Salary Continuation Agreement (Guaranty Bancshares Inc /Tx/)
Death During Active Service. If the Executive dies before the Normal Retirement Age while in the active service of the Bank, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 1 contract
Samples: Salary Continuation Agreement (Cortland Bancorp Inc)
Death During Active Service. If Except as provided in Section 5.2, if the Executive dies in active service to the Bank before the Normal Retirement Age while in the active service of the BankDate, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's =s beneficiary(ies) (a) an amount in cash equal to the Accrual Balance at the end of the Plan Year preceding the year of the Executive=s death, and (b) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 1 contract
Samples: Salary Continuation Agreement (Crescent Financial Corp)
Death During Active Service. If the Executive dies before the Normal Retirement Age while in the active service of the BankBank provided that the death occurs prior to the Executive's Normal Retirement Age, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies) beneficiary the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.Section 3.1.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (Tompkins Trustco Inc)
Death During Active Service. If the Executive dies in active service to the Bank before the Normal Retirement Age while in the active service of the BankAge, instead of any other benefit payable under this Agreement the Bank shall pay to the Executive's beneficiary(ies) the benefit described in the Second Amended Split Dollar Agreement and Endorsement dated as of the date hereof and attached to this Agreement as Addendum A.
Appears in 1 contract