Common use of Death of Director After Age 65 Clause in Contracts

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 2 contracts

Samples: Deferred Income Agreement (United Financial Bancorp Inc), Deferred Income Agreement (United Financial Bancorp Inc)

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Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 475,370 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: S Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 ------------------------------- prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s 's designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 171,930 set forth in paragraph "1" is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Deferred Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 171,930 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (iesbeneficiary(ies). The beneficiary (iesbeneficiary(ies) shall receive all the remaining monthly installments which the Director would have received until the total sum of $75,930 210,000 set forth in paragraph paragraph, “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Director’s Compensation Agreement (First Advantage Bancorp)

Death of Director After Age 65. If the Director dies after age 65 prior to ------------------------------- receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s 's designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 196,080 set forth in paragraph "1" is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Deferred Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 ------------------------------- prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s 's designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 221,040 set forth in paragraph "1" is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (iesbeneficiary(ies). The beneficiary (iesbeneficiary(ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 95,400 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Deferred Income Agreement (Jacksonville Bancorp, Inc.)

Death of Director After Age 65. If the Director dies after age 65 ------------------------------- prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s 's designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 509,000 set forth in paragraph "1" is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 ------------------------------- prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s 's designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 125,950 set forth in paragraph "1" is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Deferred Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 ---------------------------------- prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s 's designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 109,340 set forth in paragraph "1" is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 83,740 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Deferred Income Agreement (United Financial Bancorp Inc)

Death of Director After Age 65. If the Director dies after age 65 ------------------------------- prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s 's designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 222,330 set forth in paragraph "1" is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Deferred Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 ------------------------------ 65, prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s 's designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 33,240 set forth in paragraph "1" is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Compensation Agreement (National Bankshares Inc)

Death of Director After Age 65. If the Director dies after age 65 prior to ------------------------------- receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s 's designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 475,370 set forth in paragraph "1" is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 164,250 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: S Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 229,680 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: S Compensation Agreement (Juniata Valley Financial Corp)

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Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 325,140 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Deferred Income Agreement (Profile Bancorp Inc)

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly monthly, installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 144,600 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Director’s Compensation Agreement (First Advantage Bancorp)

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 109,340 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s 's designated beneficiary (iesbeneficiary(ies). The beneficiary (iesbeneficiary(ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 __________ set forth in paragraph "1" is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Compensation Agreement (Franklin Financial Services Corp /Pa/)

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (iesbeneficiary(ies). The beneficiary (iesbeneficiary(ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 108,360 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Deferred Income Agreement (Jacksonville Bancorp, Inc.)

Death of Director After Age 65. If the Director dies after age 65 ------------------------------- prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s 's designated beneficiary (ies). The beneficiary (ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 164,250 set forth in paragraph "1" is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Compensation Agreement (Juniata Valley Financial Corp)

Death of Director After Age 65. If the Director dies does after age 65 65, prior to receiving the full 120 monthly monthly, installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (iesbeneficiary(ies). The beneficiary (iesbeneficiary(ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 152,160 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Director’s Compensation Agreement (First Advantage Bancorp)

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly monthly, installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (ies). The beneficiary (iesbeneficiary(ies).The beneficiary(ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 249,840 set forth in paragraph “1” is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Director’s Compensation Agreement (First Advantage Bancorp)

Death of Director After Age 65. If the Director dies after age 65 prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s designated beneficiary (iesbeneficiary(ies). The beneficiary (iesbeneficiary(ies) shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 1,074,300 set forth in paragraph “1” is in paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Compensation Agreement (Riverview Financial Corp)

Death of Director After Age 65. If the Director dies after age 65 ------------------------------- prior to receiving the full 120 monthly installments, the remaining monthly installments will be paid to the Director’s 's designated beneficiary (ies). The beneficiary (ies) shall ies)shall receive all remaining monthly installments which the Director would have received until the total sum of $75,930 229,680 set forth in paragraph "1" is paid. If the Director fails to designate a beneficiary in writing to the Bank, the balance of monthly installments remaining at the time of his death shall be paid to the legal representative of the estate of the Director.

Appears in 1 contract

Samples: Compensation Agreement (Juniata Valley Financial Corp)

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