Common use of Forfeiture of Benefit Clause in Contracts

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.

Appears in 3 contracts

Samples: Supplemental Life Insurance Agreement (Old Line Bancshares Inc), Supplemental Life Insurance Agreement (Old Line Bancshares Inc), Supplemental Life Insurance Agreement (Old Line Bancshares Inc)

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Forfeiture of Benefit. The Executive will forfeit his or her benefit if: (i) the Executive violates any of the provisions detailed in Article 5; or (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.

Appears in 3 contracts

Samples: Supplemental Life Insurance Agreement (Old Line Bancshares Inc), Supplemental Life Insurance Agreement (Old Line Bancshares Inc), Supplemental Life Insurance Agreement (Old Line Bancshares Inc)

Forfeiture of Benefit. The Notwithstanding anything to the contrary herein, the Executive will forfeit his or her the benefit described in Section 2.2 if: : (ia) the Executive violates any Any provision of the provisions detailed in Article 5; 6 applies; (iib) the Executive becomes gainfully employed by an entity other than the Bank following a Separation from Service due to Disability; or (iii) the The Executive provides written notice to the Bank declining further participation in this Agreement; or (c) Upon the AgreementExecutive’s Termination of Employment.

Appears in 3 contracts

Samples: Endorsement Split Dollar Life Insurance Agreement (Union Bankshares Inc), Endorsement Split Dollar Life Insurance Agreement (Union Bankshares Inc), Endorsement Split Dollar Life Insurance Agreement (Union Bankshares Inc)

Forfeiture of Benefit. The Notwithstanding anything to the contrary herein, the Executive will forfeit his or her the benefit described in Section 2.2 if: (ia) the Executive violates any provision of the provisions detailed in Article 56 applies; (ii) the Executive becomes gainfully employed by an entity other than the Bank following a Separation from Service due to Disability; or (iiib) the Executive provides written notice to the Bank declining further participation in the Agreement; or (c) upon the Executive’s Voluntary Termination of Employment or Involuntary Termination of Employment.

Appears in 2 contracts

Samples: Endorsement Split Dollar Life Insurance Agreement (Origin Bancorp, Inc.), Endorsement Split Dollar Life Insurance Agreement (Origin Bancorp, Inc.)

Forfeiture of Benefit. The Notwithstanding anything to the contrary herein, the Executive will forfeit his or her the benefit described in Section 2.2 if: : (ia) the Executive violates any Any provision of the provisions detailed in Article 5; 6 applies; (iib) the Executive becomes gainfully employed by an entity other than the Bank following a Separation from Service due to Disability; or (iii) the The Executive provides written notice to the Bank declining further participation in the Agreement; or (c) Upon the Executive’s Termination of Employment.

Appears in 2 contracts

Samples: Endorsement Split Dollar Life Insurance Agreement (Prudential Bancorp Inc of Pennsylvania), Endorsement Split Dollar Life Insurance Agreement (Prudential Bancorp Inc of Pennsylvania)

Forfeiture of Benefit. The Notwithstanding anything to the contrary herein, the Executive will forfeit his or her the benefit described in Section 2.2 if: : (ia) the Executive violates any Any provision of the provisions detailed in Article 56 applies; or (iib) the Executive becomes gainfully employed by an entity other than the Bank following a Separation from Service due to Disability; or (iii) the The Executive provides written notice to the Bank declining further participation in the Agreement; or (c) Upon the Executive’s Voluntary or Involuntary Termination of Employment.

Appears in 1 contract

Samples: Endorsement Split Dollar Life Insurance Agreement (Origin Bancorp, Inc.)

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Forfeiture of Benefit. The Notwithstanding anything to the contrary herein, the Executive will forfeit his or her the benefit described in Section 2.2 if: : (ia) the Executive violates any Any provision of the provisions detailed in Article 56 applies; or (iib) the Executive becomes gainfully employed by an entity other than the Bank following a Separation from Service due to Disability; or (iii) the The Executive provides written notice to the Bank declining further participation in the Agreement.; or (c) As provided in Section 2.3 above.

Appears in 1 contract

Samples: Executive Employment Contract (Commercial Bancshares Inc \Oh\)

Forfeiture of Benefit. The Notwithstanding anything to the contrary herein, the Executive will forfeit his or her the benefit described in Section 2.2 if: (ia) the Executive violates any provision 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 Disability6 applies; or (iiib) the Executive provides written notice to the Bank declining further participation in the Agreement.

Appears in 1 contract

Samples: Endorsement Split Dollar Life Insurance Agreement (Origin Bancorp, Inc.)

Forfeiture of Benefit. The Executive will forfeit his or her benefit all benefits hereunder if: (i) the Executive violates any of the provisions detailed in Article 5; 5 or (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.

Appears in 1 contract

Samples: Split Dollar Agreement (First Citizens Bancshares Inc /Tn/)

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