Common use of Payment of Benefit Clause in Contracts

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's death and continuing for 179 additional months.

Appears in 13 contracts

Samples: Salary Continuation Agreement (Norwood Financial Corp), Salary Continuation Agreement (Orrstown Financial Services Inc), Salary Continuation Agreement (Lake Ariel Bancorp Inc)

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Payment of Benefit. The Company Bank shall pay the annual benefit to the beneficiary in 12 twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Executive's ’s death and continuing for 179 additional months.

Appears in 11 contracts

Samples: Salary Continuation Agreement (Acnb Corp), Salary Continuation Agreement (Acnb Corp), Salary Continuation Agreement (Acnb Corp)

Payment of Benefit. The Company shall pay the annual benefit amount to the beneficiary Executive in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's death Termination of Employment and continuing for 179 239 additional months.

Appears in 6 contracts

Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Ufh Capital Trust I), Salary Continuation Agreement (Codorus Valley Bancorp Inc)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's death and continuing for 179 239 additional months.

Appears in 6 contracts

Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Community Banks Inc /Pa/), Salary Continuation Agreement (Community Banks Inc /Pa/)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 consecutive equal monthly installments payable on the first day of each month commencing with the month following the Executive's death and continuing for 179 239 additional months.

Appears in 5 contracts

Samples: Salary Continuation Agreement (Community Banks Inc /Pa/), Salary Continuation Agreement (Community Banks Inc /Pa/), Salary Continuation Agreement (Community Banks Inc /Pa/)

Payment of Benefit. The Company shall pay one-twelfth (1/12th) of the annual benefit to the beneficiary in 12 equal monthly installments payable Beneficiary on the first (1st) day of each month commencing with the month following the Executive's ’s death and continuing for 179 additional one hundred eighty (180) total months.

Appears in 5 contracts

Samples: Salary Continuation Agreement (Eagle Bancorp Montana, Inc.), Salary Continuation Agreement (Eagle Bancorp Montana, Inc.), Salary Continuation Agreement (Eagle Bancorp Montana, Inc.)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's death and continuing for 179 additional months.

Appears in 4 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Home Federal Bancorp), Supplemental Executive Retirement Plan Agreement (Home Federal Bancorp), Supplemental Executive Retirement Plan Agreement (Home Federal Bancorp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following a period of sixty (60) days after the Executive's death and continuing for 179 additional months.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Fidelity Bancorp Inc), Salary Continuation Agreement (Fidelity Bancorp Inc), Salary Continuation Agreement (Fidelity Bancorp Inc)

Payment of Benefit. The Company shall pay the annual benefit amount to the beneficiary Executive in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's death Termination of Employment and continuing for 179 two hundred thirty-nine (239) additional months.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Summit Financial Corp), Salary Continuation Agreement (Summit Financial Corp), Salary Continuation Agreement (Summit Financial Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's death and continuing death, paying the annual benefit to the Executive's beneficiary for 179 additional monthsa period of 10 years.

Appears in 3 contracts

Samples: Salary Continuation Agreement (FFW Corp), Salary Continuation Agreement (FFW Corp), Salary Continuation Agreement (FFW Corp)

Payment of Benefit. The Company shall pay the annual benefit amount to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's date of death and continuing for 179 additional months.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Lake Ariel Bancorp Inc), Salary Continuation Agreement (Lake Ariel Bancorp Inc), Salary Continuation Agreement (Lake Ariel Bancorp Inc)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable Beneficiary on the first day of each month commencing with the month following the Executive's death and continuing for 179 additional months.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Community First Bankshares Inc), Salary Continuation Agreement (Valley National Corp /De/), Standard Office Lease (Orange National Bancorp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's death and continuing for 179 two hundred thirty-nine (239) additional months.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Summit Financial Corp), Salary Continuation Agreement (Summit Financial Corp), Salary Continuation Agreement (Summit Financial Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's ’s death and continuing for 179 additional months.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Codorus Valley Bancorp Inc), Salary Continuation Agreement (Mid Penn Bancorp Inc)

Payment of Benefit. The Company Bank shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following within 90 days of the Executive's death and continuing for 179 239 additional months.

Appears in 3 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Pittsburgh Financial Corp), Supplemental Executive Retirement Plan Agreement (Pittsburgh Financial Corp), Supplemental Executive Retirement Plan Agreement (Pittsburgh Financial Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable Beneficiary on the first day of each month commencing with the month following the Executive's ’s death and continuing for 179 239 additional months.

Appears in 2 contracts

Samples: Salary Continuation Agreement (First Keystone Corp), Salary Continuation Agreement (First Keystone Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable Beneficiary on the first day of each month commencing with the month following the Executive's ’s death and continuing for 179 additional months.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Fulton Bancshares Corp), Salary Continuation Agreement (Fulton Bancshares Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable Beneficiary on the first day of each month commencing with the month following the Executive's death and continuing for 179 an additional ONE HUNDRED SEVENTY-NINE (179) months.

Appears in 2 contracts

Samples: Salary Continuation Plan (Camco Financial Corp), Salary Continuation Plan (Camco Financial Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable to the Executive on the first day of each month commencing with the month following the Executive's death ’s Termination of Employment and continuing for 179 additional months.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Fulton Bancshares Corp), Salary Continuation Agreement (Fulton Bancshares Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable to the Beneficiary on the first day of each month commencing with the month following the Executive's ’s death and continuing for 179 additional months.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Fulton Bancshares Corp), Salary Continuation Agreement (Fulton Bancshares Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's ’s death and continuing for 179 ____ additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's ’s death and continuing for 179 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (Acnb Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 consecutive equal monthly installments payable on the first day of each month commencing with the month following the Executive's ’s death and continuing for 179 239 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (Susquehanna Bancshares Inc)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary Beneficiary(ies) in 12 equal monthly installments payable commencing on the first day of each month commencing with the month following the Executive's death and continuing on the first day of the month thereafter until paid in full. The annual benefit, as provided hereunder, shall be paid to the Executive for 179 additional monthsa period of twenty (20) years and shall be paid without interest.

Appears in 1 contract

Samples: Salary Continuation Agreement (Central Federal Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 120 equal monthly installments payable on the first day of each month commencing with the month following the Executive's death and continuing for 179 additional monthsdeath.

Appears in 1 contract

Samples: Salary Continuation Agreement (Centennial First Financial Services)

Payment of Benefit. The Company shall pay the annual benefit to the Executive’s beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's ’s death and continuing for 179 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc)

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Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable Beneficiary on the first day of each month commencing with the month following the Executive's ’s date of death and continuing for 179 239 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (First Keystone Corp)

Payment of Benefit. The Company shall pay the annual ------------------ benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the first day of the second month following the Executive's death and continuing for 179 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (United Panam Financial Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 240 equal monthly installments payable including interest at 8.0% per annum commencing on the first day of each month commencing with the calendar month following the Executive's death and continuing for 179 additional monthsdeath.

Appears in 1 contract

Samples: Phantom Stock Agreement (CNB Corp /Sc/)

Payment of Benefit. The Company shall pay the annual benefit Benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following receipt of the Executive's valid death certificate and continuing for 179 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (First Community Financial Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's ’s date of death and continuing for 179 239 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (First Keystone Corp)

Payment of Benefit. The Company shall pay the annual benefit ------------------ amount to the beneficiary Executive in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's death Termination of Employment and continuing for 179 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (United Panam Financial Corp)

Payment of Benefit. The Company Bank shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's ’s death and continuing for 179 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (Juniata Valley Financial Corp)

Payment of Benefit. The Company company shall pay the annual benefit to the beneficiary in 12 180 equal monthly installments payable on the first day of each month commencing with the month following the date of Executive's death ’s termination of employment and continuing for 179 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (Western Sierra Bancorp)

Payment of Benefit. The Company shall pay the annual benefit ------------------ amount to the beneficiary Executive in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's death Termination of Employment and continuing for 179 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (United Panam Financial Corp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's ’s death and continuing for 179 239 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable Beneficiary on the first day of each month commencing with the month following the Executive's death and continuing for 179 119 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (Dimeco Inc)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 180 equal monthly installments payable on the first day of each month commencing with the month following the date of Executive's ’s death and continuing for 179 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (Western Sierra Bancorp)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Executive's ’s death and continuing for 179 one hundred seventy-nine (179) additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (McIntosh Bancshares Inc /Ga/)

Payment of Benefit. The Company shall pay the annual benefit to the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the month following the ExecutiveDirector's death and continuing for 179 119 additional months.

Appears in 1 contract

Samples: Director Retirement Agreement (Orrstown Financial Services Inc)

Payment of Benefit. The Company shall pay the annual benefit to ------------------ the beneficiary in 12 equal monthly installments payable on the first day of each month commencing with the first day of the second month following the Executive's death and continuing for 179 additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (United Panam Financial Corp)

Payment of Benefit. The Company shall pay the annual benefit amount to the beneficiary Executive in 12 equal monthly installments payable on the first day of each month commencing with the month following the Executive's death Termination of Employment and continuing for 179 ____ additional months.

Appears in 1 contract

Samples: Salary Continuation Agreement (Codorus Valley Bancorp Inc)

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