Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) equal monthly installments commencing on the first day of the month following Normal Retirement Age.
Appears in 8 contracts
Samples: Supplemental Executive Retirement Agreement (SBT Bancorp, Inc.), Supplemental Executive Retirement Agreement (SBT Bancorp, Inc.), Supplemental Executive Retirement Agreement (SBT Bancorp, Inc.)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) equal consecutive monthly installments commencing on the first day of the first month following Normal Retirement AgeSeparation from Service.
Appears in 6 contracts
Samples: Deferred Compensation Agreement (Tower Bancorp Inc), Deferred Compensation Agreement (Tower Bancorp Inc), Deferred Compensation Agreement (Tower Bancorp Inc)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty twenty (180120) equal consecutive monthly installments commencing on the first day of the first month following Normal Retirement Age.
Appears in 6 contracts
Samples: Deferred Compensation Agreement (Tower Bancorp Inc), Deferred Compensation Agreement (Tower Bancorp Inc), Deferred Compensation Agreement (Tower Bancorp Inc)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) equal monthly installments commencing on the first day of the month following Normal Retirement AgeSeparation from Service.
Appears in 5 contracts
Samples: Supplemental Employee Retirement Plan (Cascade Bancorp), Salary Continuation Agreement (Harvard Illinois Bancorp, Inc.), Salary Continuation Agreement (Harvard Illinois Bancorp, Inc.)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty twenty (180120) consecutive equal monthly installments commencing on the first day of the month following Normal Retirement Age.
Appears in 3 contracts
Samples: Compensation Agreement (Greene County Bancshares Inc), Compensation Agreement (Greene County Bancshares Inc), Compensation Agreement (Greene County Bancshares Inc)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) equal monthly installments commencing on the first day of the month following Normal Retirement Agedetermination of Disability.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Mutualfirst Financial Inc), Salary Continuation Agreement (Mutualfirst Financial Inc), MFB Financial Salary Continuation Agreement (MFB Corp)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) equal monthly installments commencing on the first day of the month following Normal Retirement Age. During the applicable installment period, interest will be applied to the Accrual Balance at the Discount Rate, compounded monthly.
Appears in 2 contracts
Samples: Continuation Agreement (First Community Corp /Sc/), Continuation Agreement (Regional Bankshares Inc)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) consecutive equal monthly installments commencing on the first day of the month following Normal Retirement AgeSeparation from Service.
Appears in 2 contracts
Samples: Continuation Agreement (Broadway Financial Corp \De\), Salary Continuation Agreement (Broadway Financial Corp \De\)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) equal monthly installments commencing on the first day of the month following Normal Retirement AgeSeparation of Service.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Mutualfirst Financial Inc), MFB Financial Salary Continuation Agreement (MFB Corp)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Executive in one hundred eighty (180) equal monthly installments commencing on the first day of the month following the Executive’s Normal Retirement Age, and continuing for the greater of the Executive’s lifetime or fifteen (15) years.
Appears in 2 contracts
Samples: Cambridge Trust Company (Cambridge Bancorp), Supplemental Executive Retirement Agreement (Cambridge Bancorp)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one two hundred eighty forty (180240) equal monthly installments commencing on the first day of the month following Normal Retirement AgeSeparation from Service.
Appears in 2 contracts
Samples: Supplemental Employee Retirement Plan (Cascade Bancorp), Supplemental Employee Retirement Plan (Cascade Bancorp)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) consecutive, equal monthly installments commencing on the first day of the month following Normal Retirement AgeSeparation from Service.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Harvard Illinois Bancorp, Inc.), Salary Continuation Agreement (Harvard Illinois Bancorp, Inc.)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) equal monthly installments commencing on the first day of the month following Normal Retirement Age. Interest shall be credited to the Accrual Balance during the applicable installment period at a rate equal to the Discount Rate in effect at the time of Separation from Service.
Appears in 1 contract
Samples: Salary Continuation Agreement (HCSB Financial Corp)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty twenty (180120) equal monthly installments commencing on the first day of the month following Normal Retirement Age.
Appears in 1 contract
Samples: Salary Continuation Agreement (Bank of Commerce Holdings)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) equal monthly installments commencing on the first day of the month following Normal Retirement Age. Interest shall be credited on the Accrual Balance during the installment period at a rate equal to the Discount Rate in effect at the time of Separation from Service.
Appears in 1 contract
Samples: Salary Continuation Agreement (Smartfinancial Inc.)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty twenty (180120) equal monthly installments commencing on the first day of the month following Normal Retirement AgeTermination of Employment.
Appears in 1 contract
Samples: Salary Continuation Agreement (Bank of Commerce Holdings)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) equal monthly installments commencing on the first day of the month following Normal Retirement Age. The Accrual Balance shall continue to accrue earnings at the Discount Rate until all monthly installments are completely distributed.
Appears in 1 contract
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) consecutive equal monthly installments commencing on the first day of the month following Normal Retirement Age.
Appears in 1 contract
Samples: Continuation Agreement (Central Valley Community Bancorp)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty twenty (180120) equal monthly installments commencing on the first day of the month following Normal Retirement Age, subject to Section 2.4 hereof.
Appears in 1 contract
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty twenty (180120) equal monthly installments commencing on the first day of the month following Normal Retirement Age., subject to Section 2.4 hereof
Appears in 1 contract
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty (180) equal monthly installments commencing on the first day of the month following Normal Retirement AgeSeparation of Service, subject to Section 2.6 of this Agreement.
Appears in 1 contract
Samples: Salary Continuation Agreement (Mutualfirst Financial Inc)
Distribution of Benefit. The Bank shall distribute the benefit to the Executive in one hundred eighty twenty (180120) equal monthly installments commencing on the first day of the month following Normal Retirement AgeDate, subject to Section 4.5, if applicable. If there is more than one monthly installment, the monthly installments shall be equal to the extent possible.
Appears in 1 contract
