Common use of Payments in the Event Disability Occurs Prior to Retirement Clause in Contracts

Payments in the Event Disability Occurs Prior to Retirement. In the event the Executive becomes Disabled while actively employed by the Bank at any time after the Effective Date of this Agreement but prior to Retirement, the Executive shall be entitled to be paid the Applicable Percentage of the Executive Benefits, as defined above, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Executive becomes Disabled, payable until the Executive's death.

Appears in 3 contracts

Samples: Executive Supplemental Compensation Agreement (Southwest Community Bancorp), Supplemental Compensation Agreement (Citizens Bancorp/Or), Supplemental Compensation Agreement (Citizens Bancorp/Or)

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Payments in the Event Disability Occurs Prior to Retirement. In the event the Executive becomes Disabled while actively employed by the Bank Employer at any time after the Effective Date of this Agreement but prior to Retirement, the Executive shall be entitled to be paid the Applicable Percentage of the Executive Benefits, as defined above, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Executive becomes Disabled, payable until the Executive's ’s death.

Appears in 3 contracts

Samples: Executive Supplemental Compensation Agreement (Placer Sierra Bancshares), Executive Supplemental Compensation Agreement (Placer Sierra Bancshares), Executive Supplemental Compensation Agreement (Placer Sierra Bancshares)

Payments in the Event Disability Occurs Prior to Retirement. In the event the Executive becomes Disabled while actively employed by the Bank Employer at any time after the Effective Date of this Agreement but prior to Retirement, the Executive shall be entitled to be paid the Applicable Percentage of the Executive Benefits, as defined above, in substantially equal monthly installments on the first day of each month, month beginning with the month following the month in which the Executive becomes Disabled, payable until the Executive's death.

Appears in 2 contracts

Samples: Executive Supplemental Compensation Agreement (Valley Commerce Bancorp), Executive Supplemental Compensation Agreement (Valley Commerce Bancorp)

Payments in the Event Disability Occurs Prior to Retirement. In the event the Executive becomes Disabled while actively employed by the Bank Employer at any time after the Effective Date of this Agreement but prior to Retirement, the Executive shall be entitled to be paid the Applicable Percentage of the Normal Retirement Executive Benefits, Benefits as defined abovein Schedule B, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Executive becomes Disabled, payable until the Executive's death.

Appears in 1 contract

Samples: Executive Supplemental Compensation Agreement (Valley Commerce Bancorp)

Payments in the Event Disability Occurs Prior to Retirement. In the event the Executive becomes Disabled while actively employed by the Bank at any time after the Effective Date of this Agreement but prior to Retirement, the Executive shall be entitled to be paid the Applicable Percentage of the Executive Benefits, as defined abovein Schedule B, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Executive becomes Disabled, payable until the Executive's death.

Appears in 1 contract

Samples: Executive Supplemental Compensation Agreement (North Bay Bancorp/Ca)

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Payments in the Event Disability Occurs Prior to Retirement. In the event the Executive becomes Disabled while actively employed by the Bank Employer at any time after the Effective Date of this Agreement but prior to Retirement, the Executive shall be entitled to be paid the Applicable Percentage of the Executive Benefits, as defined above, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Executive becomes Disabled, payable until the Executive's death.

Appears in 1 contract

Samples: Executive Supplemental Compensation Agreement (SJNB Financial Corp)

Payments in the Event Disability Occurs Prior to Retirement. In the event the Executive becomes Disabled while actively employed by the Bank at any time after the Effective Date of this Agreement but prior to Retirement, the Executive shall be entitled to be paid the Applicable Percentage of the Executive Benefits, as defined above, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Executive becomes Disabled, payable until the Executive's ’s death.

Appears in 1 contract

Samples: Executive Supplemental Compensation Agreement (Placer Sierra Bancshares)

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