Forfeiture of Benefit. The Executive will forfeit his or her benefit if: (i) the Executive violates any of the provisions detailed in Article 5; (ii) the Executive becomes gainfully employed by an entity other than the Bank following a Separation from Service due to Disability; or (iii) the Executive provides written notice to the Bank declining further participation in the Agreement.
Forfeiture of Benefit. Notwithstanding the provisions of Section 4.1, the Executive will forfeit his or her Vested Insurance Benefit: (i) if and to the extent the Executive violates any of the provisions detailed in Article 7; (ii) in the case of a disabled Executive who vested pursuant to Section 4.1.3, if such Executive becomes gainfully employed by a financial services provider other than the Bank; or (iii) the Executive provides written notice to the Bank voluntarily declining further participation in the split dollar arrangement.
Forfeiture of Benefit. Notwithstanding the provisions of Section 3.1, the Director will forfeit his or her Vested Insurance Benefit if (i) the Director violates any of the provisions detailed in Article 6; (ii) in the case of a disabled Director who vested pursuant to Section 3.1.3, if the Director becomes gainfully employed by an entity other than the Bank; or (iii) or the Director provides written notice to the Bank declining further participation in the Agreement.
Forfeiture of Benefit. Rights to any unvested payments of the Executive's Benefit pursuant to this Supplemental Agreement shall be immediately forfeited if the Executive engages in any act that results in the Executive's Termination for Cause (as defined in the Employment Agreement) or the breach of any covenant in the Employment Agreement.
Forfeiture of Benefit. Notwithstanding the provisions of Section 5.1, the Participant will forfeit his or her Vested Insurance Benefit if: (1) the Participant violates any of the provisions detailed in Article 8, (2) in the case of a Disabled Participant who vested pursuant to Section 5.1.3, if such Participant becomes gainfully employed by an entity other than the Bank, or (3) the Participant provides written notice to the Bank declining further participation in the Plan.
Forfeiture of Benefit. If the policy terminates in full within the first ten policy years, a portion, or all, of the amount credited to the policy as a result of the percent of premium loading charge adjustment will be subject to forfeiture. CHILDREN'S INSURANCE RIDER ATTACHED TO AND MADE A PART OF THIS POLICY ISSUED BY NATIONWIDE LIFE INSURANCE COMPANY Columbus, Ohio 43215-2220 GENERAL PROVISIONS This Rider is part of the policy to which it is attached. This Rider is subject to the terms and provisions of the policy except where it provides otherwise. This Rider is issued in consideration of an application and the payment of the monthly cost for this Rider. The effective date of this Rider is the Policy Date unless a different date is shown on the Policy Data Page. This Rider has no loan values. This Rider has no Surrender Values except as paid-up insurance. DEFINITIONS Under this Rider:
Forfeiture of Benefit. If it is the conclusion of the Board that the Executive has engaged in any acts or omissions constituting dishonesty, intentional breach of fiduciary obligation or intentional wrongdoing, in each case that results in substantial harm to the business or property of the Company, he shall forfeit and be ineligible to receive any benefits under this Plan, and any benefits paid to such Executive (or Spouse) can be recovered by the Company. The recovery of any benefits paid to such Executive shall not preclude the Company from taking any other actions against the Executive.
Forfeiture of Benefit. Any individual leaving the district for any other reason prior to reaching retirement age forfeits any and all accumulated insurance premium funds. The only exception to this language will be in the case of the death of the employee as indicated above.
Forfeiture of Benefit. The Executive will forfeit his or her benefit and this Agreement will terminate: (i) pursuant to the provisions in Article 4; or (ii) if a Separation from Service, other than as a result of the Executive’s Disability or following a Change in Control, occurs prior to the Executive’s Normal Retirement Date or the Executive’s Early Retirement Date.
Forfeiture of Benefit. Notwithstanding anything to the contrary herein, the Director shall forfeit any right to a benefit under this Agreement if:
(a) The Director’s service is terminated for Cause; or
(b) The Director is subject to a final removal or prohibition order issued by an appropriate federal banking agency pursuant to Section 8(e) of the Federal Deposit Insurance Act (“FDIA”); or
(c) The Director provides written notice to the Bank declining further participation in the Agreement.
