Common use of Death Prior to Commencement of Benefit Payments Clause in Contracts

Death Prior to Commencement of Benefit Payments. In the event the Participant should die while actively employed by the Plan Sponsor at any time after the date of this Plan but prior to his Normal Retirement Age, the Plan Sponsor will pay the Accrued Benefit in fifteen (15) equal annual installments to the Participant's Beneficiary. The payments shall commence to be paid on the first day of the second month following the month in which the Participant dies.

Appears in 17 contracts

Samples: Supplemental Executive Retirement Plan 2014 (Community Financial Corp /Md/), Supplemental Executive Retirement Plan (Community Financial Corp /Md/), Supplemental Executive Retirement Plan (Community Financial Corp /Md/)

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Death Prior to Commencement of Benefit Payments. In the event the Participant should die while actively employed by the Plan Sponsor at any time after the date of this Plan but prior to his Normal Retirement Age, the Plan Sponsor will pay the Accrued Benefit in fifteen (15) equal annual installments to the Participant's ’s Beneficiary. The payments shall commence to be paid on the first day of the second month following the month in which the Participant dies.

Appears in 4 contracts

Samples: Supplemental Executive Retirement Plan (Community Financial Corp /Md/), Supplemental Executive Retirement Plan (Community Financial Corp /Md/), Supplemental Executive Retirement Plan (Community Financial Corp /Md/)

Death Prior to Commencement of Benefit Payments. In the event the Participant should die while actively employed by the Plan Sponsor at any time after the date of this Plan but prior to his Normal Retirement Age, the Plan Sponsor will pay the Accrued Benefit in fifteen Fifteen (15) equal annual installments to the Participant's ’s Beneficiary. The payments shall commence to be paid on the first day of the second month following the month in which the Participant dies.

Appears in 3 contracts

Samples: Supplemental Executive Retirement Plan (Community Financial Corp /Md/), Supplemental Executive Retirement Plan (Frederick County Bancorp Inc), Supplemental Executive Retirement Plan (Frederick County Bancorp Inc)

Death Prior to Commencement of Benefit Payments. In the event the Participant should die while actively employed by the Plan Sponsor at any time after the date of this Plan but prior to his Normal Retirement AgeDate, the Plan Sponsor will pay the Accrued Benefit in fifteen (15) equal annual installments to the Participant's Beneficiary. The payments shall commence to be paid on the first day of the second month following the month in which the Participant dies.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc), Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc)

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Death Prior to Commencement of Benefit Payments. In the event the Participant should die while actively employed by the Plan Sponsor at any time after the date of this Plan Agreement but prior to his Normal Retirement Agethe Benefit Elgibility Date, the Plan Sponsor will pay the Accrued Benefit Benefit, calculated as of the date of death, as a lump sum to such individual or individuals as the Participant may have designated in fifteen (15) equal annual installments to writing, filed with and been approved by the Participant's BeneficiaryPlan Sponsor. The payments payment shall commence to be paid due on the first day of the second third month following the month in which of the Participant diesdecease of the Participant.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc), Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc)

Death Prior to Commencement of Benefit Payments. In the event the Participant should die while actively employed by the Plan Sponsor at any time after the date of this Plan but prior PRIOR to his Normal Retirement AgeDate, the Plan Sponsor will pay the Accrued Benefit in fifteen (15) equal annual installments to the Participant's Beneficiary. The payments shall commence to be paid on the first day of the second month following the month in which the Participant dies. In the event the Participant should die while actively employed by the Plan Sponsor at any time after the date of this Plan but AFTER his Normal Retirement Date, the Plan Sponsor will pay the Accrued Benefit in fifteen (15) equal annual installments to the Participant's Beneficiary. The payments shall commence to be paid on the first day of the second month following the month in which the Participant dies.

Appears in 1 contract

Samples: Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc)

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