Common use of Distribution of Benefit Clause in Contracts

Distribution of Benefit. The Company shall distribute the benefit to the Executive in one hundred eighty (180) consecutive monthly installments commencing the first day of the month following Separation from Service.

Appears in 8 contracts

Samples: Salary Continuation Agreement (Community Financial Corp /Md/), Continuation Agreement (Community Financial Corp /Md/), Continuation Agreement (Community Financial Corp /Md/)

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Distribution of Benefit. The Company shall distribute the benefit to the Executive in one hundred eighty (180) consecutive equal monthly installments installments, commencing on the first day of the month following Separation from Service.

Appears in 8 contracts

Samples: Salary Continuation Agreement (Community Financial Corp /Md/), Continuation Agreement (Community Financial Corp /Md/), Continuation Agreement (Community Financial Corp /Md/)

Distribution of Benefit. The Company shall distribute the benefit to the Executive in one hundred eighty (180) consecutive equal monthly installments commencing the first day of the month following Separation from Servicethe Executive attaining Normal Retirement Age.

Appears in 8 contracts

Samples: Salary Continuation Agreement (Community Financial Corp /Md/), Continuation Agreement (Community Financial Corp /Md/), Continuation Agreement (Community Financial Corp /Md/)

Distribution of Benefit. The Company Corporation shall distribute the annual benefit to the Executive in one hundred eighty twelve (18012) consecutive equal monthly installments commencing on the first day of the month following the Separation from Service. The annual benefit shall be distributed to the Executive for the greater of (i) eighteen (18) years or (ii) the life of the Executive. 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 5 contracts

Samples: Supplemental Executive Retirement Agreement (CenterState Banks, Inc.), Supplemental Executive Retirement Agreement (CenterState Banks, Inc.), Supplemental Executive Retirement Agreement (CenterState Banks, Inc.)

Distribution of Benefit. The Company shall distribute the benefit to the Executive in one hundred eighty (180) consecutive equal monthly installments commencing within thirty (30) days following the first day of the month following Executive's Separation from ServiceService due to Disability.

Appears in 2 contracts

Samples: Continuation Agreement (West Pointe Bancorp Inc), Continuation Agreement (West Pointe Bancorp Inc)

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Distribution of Benefit. The Company shall distribute the benefit to the Executive in one hundred eighty (180) consecutive equal monthly installments commencing within thirty (30) days following the first day of the month following Executive's Separation from Service.

Appears in 2 contracts

Samples: Continuation Agreement (West Pointe Bancorp Inc), Continuation Agreement (West Pointe Bancorp Inc)

Distribution of Benefit. The Company 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. Interest shall be credited from during the installment period at a rate equal to the Discount Rate in effect at the time of Separation from Service.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Tib Financial Corp.), Salary Continuation Agreement (Tib Financial Corp.)

Distribution of Benefit. The Company shall distribute the benefit to the Executive in one two hundred eighty forty (180240) consecutive equal monthly installments commencing on the first day of the month following Normal Retirement Age. Interest shall be credited 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: Continuation Agreement (Floridian Financial Group Inc)

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