Common use of Distribution Events Clause in Contracts

Distribution Events. The Benefit shall be paid to the Executive or the Executive's Beneficiary upon the following events: o If the Executive's employment is terminated on or after the Benefit Distribution Date, the Executive shall be entitled to payment of Sixteen Thousand Five Hundred Dollars ($16,500) per month for 120 monthly installments, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the Executive's termination of employment. o If the Executive's employment is terminated by reason of his death or if the Executive's death occurs after a Distribution Event but before full payment of the Benefit has been made to the Executive, the Beneficiary shall be entitled to the continuation of monthly installments of Sixteen Thousand Five Hundred Dollars ($16,500) per month, so that a total of 120 such installments are paid to the Executive and the Executive's Beneficiary, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment to the Beneficiary will begin (or continue to the Beneficiary) as soon as practicable following the Executive's death. o If the Executive becomes Disabled before reaching his Benefit Distribution Date and while in the employ of First Charter, the Executive shall be entitled to payment of Sixteen Thousand Five Hundred Dollars ($16,500) per month for 120 monthly installments, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the date the Executive becomes Disabled. o If the Executive's employment is terminated before the Executive attains his Benefit Distribution Date for any reason other than the Executive's death or if the Executive becomes Disabled, the Executive shall be entitled to payment of the vested portion of the Benefit in 120 equal monthly installments in the amount indicated in Section 3.2, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the date the Executive's termination of employment.

Distribution Events. The Benefit shall be paid to the Executive or the Executive's ’s Beneficiary upon the following events: o • If the Executive's ’s employment is terminated on or after the Benefit Distribution Date, the Executive shall be entitled to payment of Sixteen Six Thousand Five Hundred Forty-One Dollars and 67 Cents ($16,5006,541.67) per month for 120 monthly installments, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the Executive's ’s termination of employmentemployment and in all events within ninety (90) days of such termination. o • If the Executive's ’s employment is terminated by reason of his death or if the Executive's ’s death occurs after a Distribution Event but before full payment of the Benefit has been made to the Executive, the Beneficiary shall be entitled to the continuation of monthly installments of Sixteen Six Thousand Five Hundred Forty-One Dollars and 67 Cents ($16,5006,541.67) per month, so that a total of 120 such installments are paid to the Executive and the Executive's ’s Beneficiary, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment to the Beneficiary will begin (or continue to the Beneficiary) as soon as practicable following the Executive's ’s death and in all events within ninety (90) days of such death. o • If the Executive becomes Disabled before reaching his Benefit Distribution Date and while in the employ of First Charter, the Executive shall be entitled to payment of Sixteen Six Thousand Five Hundred Forty-One Dollars and 67 Cents ($16,5006,541.67) per month for 120 monthly installments, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the date the Executive becomes DisabledDisabled and in all events within ninety (90) days of such event. o • If the Executive's ’s employment is terminated before the Executive attains his Benefit Distribution Date for any reason other than the Executive's ’s death or if the Executive becomes becoming Disabled, the Executive shall be entitled to payment of the vested portion of the Benefit in 120 equal monthly installments in the amount indicated in Section 3.2, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the date the Executive's ’s termination of employmentemployment and in all events within ninety (90) days of such termination and in all events within ninety (90) days of such event.

Distribution Events. The Benefit shall be paid to the Executive or the Executive's ’s Beneficiary upon the following events: o • If the Executive's ’s employment is terminated on or after the Benefit Distribution Date, the Executive shall be entitled to payment of Sixteen Ten Thousand Five Hundred Forty-One Dollars and 67 Cents ($16,50010,041.67) per month for 120 monthly installments, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the Executive's ’s termination of employmentemployment and in all events within ninety (90) days of such termination. o • If the Executive's ’s employment is terminated by reason of his death or if the Executive's ’s death occurs after a Distribution Event but before full payment of the Benefit has been made to the Executive, the Beneficiary shall be entitled to the continuation of monthly installments of Sixteen Ten Thousand Five Hundred Forty-One Dollars and 67 Cents ($16,50010,041.67) per month, so that a total of 120 such installments are paid to the Executive and the Executive's ’s Beneficiary, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment to the Beneficiary will begin (or continue to the Beneficiary) as soon as practicable following the Executive's ’s death and in all events within ninety (90) days of such death. o • If the Executive becomes Disabled before reaching his Benefit Distribution Date and while in the employ of First Charter, the Executive shall be entitled to payment of Sixteen Ten Thousand Five Hundred Forty-One Dollars and 67 Cents ($16,50010,041.67) per month for 120 monthly installments, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the date the Executive becomes DisabledDisabled and in all events within ninety (90) days of such event. o • If the Executive's ’s employment is terminated before the Executive attains his Benefit Distribution Date for any reason other than the Executive's ’s death or if the Executive becomes becoming Disabled, the Executive shall be entitled to payment of the vested portion of the Benefit in 120 equal monthly installments in the amount indicated in Section 3.2, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the date the Executive's ’s termination of employmentemployment and in all events within ninety (90) days of such termination and in all events within ninety (90) days of such event.

Distribution Events. The Benefit shall be paid to the Executive or the Executive's Beneficiary upon the following events: o If the Executive's employment is terminated on or after the Benefit Distribution Date, the Executive shall be entitled to payment of Sixteen Four Thousand Five Six Hundred Sixty-Six Dollars and 67 Cents ($16,5004,666.67) per month for 120 monthly installments, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the Executive's termination of employment. o If the Executive's employment is terminated by reason of his death or if the Executive's death occurs after a Distribution Event but before full payment of the Benefit has been made to the Executive, the Beneficiary shall be entitled to the continuation of monthly installments of Sixteen Four Thousand Five Six Hundred Sixty-Six Dollars and 67 Cents ($16,5004,666.67) per month, so that a total of 120 such installments are paid to the Executive and the Executive's Beneficiary, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment to the Beneficiary will begin (or continue to the Beneficiary) as soon as practicable following the Executive's death. o If the Executive becomes Disabled before reaching his Benefit Distribution Date and while in the employ of First Charter, the Executive shall be entitled to payment of Sixteen Four Thousand Five Six Hundred Sixty-Six Dollars and 67 Cents ($16,5004,666.67) per month for 120 monthly installments, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the date the Executive becomes Disabled. o If the Executive's employment is terminated before the Executive attains his Benefit Distribution Date for any reason other than the Executive's death or if the Executive becomes Disabled, the Executive shall be entitled to payment of the vested portion of the Benefit in 120 equal monthly installments in the amount indicated in Section 3.2, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the date the Executive's termination of employment.

Distribution Events. The Benefit shall be paid to the Executive or the Executive's Beneficiary upon the following events: o If the Executive's employment is terminated on or after the Benefit Distribution Date, the Executive shall be entitled to payment of Sixteen Six Thousand Five Hundred Forty-One Dollars and 67 Cents ($16,5006,541.67) per month for 120 monthly installments, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the Executive's termination of employment. o If the Executive's employment is terminated by reason of his death or if the Executive's death occurs after a Distribution Event but before full payment of the Benefit has been made to the Executive, the Beneficiary shall be entitled to the continuation of monthly installments of Sixteen Six Thousand Five Hundred Forty-One Dollars and 67 Cents ($16,5006,541.67) per month, so that a total of 120 such installments are paid to the Executive and the Executive's Beneficiary, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment to the Beneficiary will begin (or continue to the Beneficiary) as soon as practicable following the Executive's death. o If the Executive becomes Disabled before reaching his Benefit Distribution Date and while in the employ of First Charter, the Executive shall be entitled to payment of Sixteen Six Thousand Five Hundred Forty-One Dollars and 67 Cents ($16,5006,541.67) per month for 120 monthly installments, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the date the Executive becomes Disabled. o If the Executive's employment is terminated before the Executive attains his Benefit Distribution Date for any reason other than the Executive's death or if the Executive becomes Disabled, the Executive shall be entitled to payment of the vested portion of the Benefit in 120 equal monthly installments in the amount indicated in Section 3.2, unless another equivalent form of distribution is selected by the Board of Directors in its sole discretion. Payment will begin as soon as practicable following the date the Executive's termination of employment.