Death During Payment of a Benefit. If the Director dies after benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Director’s beneficiary at the same time and in the same amounts they would have been paid to the Director had the Director survived.
Appears in 8 contracts
Samples: Director Deferred Fee Agreement (Madison County Financial, Inc.), Director Deferred Fee Agreement (Madison County Financial, Inc.), Director Deferred Fee Agreement (Madison County Financial, Inc.)
Death During Payment of a Benefit. If the Director dies after any benefit payments have commenced under Article 2 of this Agreement Agreement, but before receiving all such payments, the Company Bank shall pay the remaining benefits to the Director’s beneficiary Beneficiary at the same time and in the same amounts they would have been paid to the Director had the Director survived.. PEOPLES FEDERAL SAVINGS BANK Director Retirement Agreement
Appears in 5 contracts
Samples: Director Retirement Agreement (Independent Bank Corp), Director Retirement Agreement (Peoples Federal Bancshares, Inc.), Director Retirement Agreement (Peoples Federal Bancshares, Inc.)
Death During Payment of a Benefit. If the Director dies after any benefit payments have commenced under this Amended Agreement but before receiving all such payments, the Company Bank shall pay the remaining benefits to the Director’s beneficiary at in a lump-sum distribution. The lump-sum distribution shall equal the same Director’s Deferral Account as of the time and in the same amounts they would have been paid to the Director had the Director survivedof death.
Appears in 4 contracts
Samples: Director Deferred Compensation Agreement (Newmil Bancorp Inc), Director Deferred Compensation Agreement (Newmil Bancorp Inc), Director Deferred Compensation Agreement (Newmil Bancorp Inc)
Death During Payment of a Benefit. If the Director dies after any benefit payments have commenced under Article 2 of this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Director’s beneficiary Beneficiary at the same time and in the same amounts they would have been paid to the Director had the Director survived.
Appears in 3 contracts
Samples: Director Retirement Agreement (Community Financial Corp /Va/), Director Compensation Agreement (Redwood Empire Bancorp), Salary Continuation Agreement (Appalachian Bancshares Inc)
Death During Payment of a Benefit. If the Director dies after any benefit payments have commenced under Article 2 of this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Director’s beneficiary at the same time and in the same amounts they would have been paid to the Director had the Director survived.
Appears in 3 contracts
Samples: Director Retirement Agreement, Director Retirement Agreement (Sierra Bancorp), Director Retirement Agreement (Sierra Bancorp)
Death During Payment of a Benefit. If the Director dies after benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Director’s 's beneficiary at the same time and in the same amounts they would have been paid to the Director had the Director survived.
Appears in 3 contracts
Samples: Director Deferred Fee Agreement (Luxemburg Bancshares Inc), Director Deferred Fee Agreement (Cooperative Bankshares Inc), Director Deferred Fee Agreement (Cooperative Bankshares Inc)
Death During Payment of a Benefit. If the Director dies after any benefit payments have commenced under Article 2 of this Agreement but before receiving all such payments, the Company Bank shall pay the remaining benefits to the Director’s beneficiary Beneficiary at the same time and in the same amounts they would have been paid to the Director had the Director survived.
Appears in 2 contracts
Samples: Supplemental Director Retirement Agreement (BCSB Bancorp Inc.), Supplemental Director Retirement Agreement (BCSB Bancorp Inc.)
Death During Payment of a Benefit. If the Director dies after any benefit payments have commenced under this Amended Agreement but before receiving all such payments, the Company Bank shall pay the remaining benefits to the Director’s beneficiary at in a lump sum distribution. The lump sum distribution will equal the same Director’s Deferral Account as of the time and in the same amounts they would have been paid to the Director had the Director survivedof death.
Appears in 2 contracts
Samples: Director Deferred Compensation Agreement (Newmil Bancorp Inc), Director Deferred Compensation Agreement (Newmil Bancorp Inc)
Death During Payment of a Benefit. If the Director dies after any benefit payments have commenced under Article 2 of this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Director’s 's beneficiary at the same time and in the same amounts manner they would have been paid to the Director had the Director survivedlived. The Board of Directors of the Company reserves the right to pay the present value of the remaining benefit in a lump sum and shall have the sole discretion to choose a reasonable discount rate.
Appears in 1 contract
Death During Payment of a Benefit. If the Director dies after any benefit payments have commenced under Article 2 of this Agreement Agreement, but before receiving all such payments, the Company Bank shall pay the remaining benefits to the Director’s beneficiary Beneficiary at the same time and in the same amounts they that would have been paid to the Director had the Director survived.
Appears in 1 contract
Samples: Salary Continuation Agreement (Appalachian Bancshares Inc)
Death During Payment of a Benefit. If the Director dies after any benefit payments have commenced under Article 5 of this Agreement but before receiving all such payments, the Company Bank shall pay the remaining benefits to the Director’s beneficiary Beneficiary at the same time and in the same amounts they would have been paid to the Director had the Director survived.
Appears in 1 contract
Samples: Director Deferred Incentive Agreement (Home Federal Bancorp Inc)
