Common use of Payments in the Event of Death After Retirement Clause in Contracts

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty (180) monthly payments to which he is entitled hereunder, the Employer will continue to make such monthly payments to the Executive's designated beneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 8 contracts

Samples: Continuation Agreement (Regency Bancorp), Continuation Agreement (Regency Bancorp), Continuation Agreement (Regency Bancorp)

AutoNDA by SimpleDocs

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty (180) monthly payments to which he is entitled hereunderExecutive Benefits Payments specified in Schedule "B", the Employer will continue agrees to make such monthly payments pay the Applicable Percentage of the Executive Benefits to the Executive's designated beneficiary for the remaining periodin lump sum. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term terms of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 8 contracts

Samples: Executive Indexed Compensation Benefits Agreement (Heritage Commerce Corp), 86 Executive Supplemental Compensation Agreement (Saratoga Bancorp), 115 Executive Supplemental Compensation Agreement (Saratoga Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty one hundred eighty (180) monthly payments to which he is entitled hereunderdescribed in paragraph 3.1 above, the Employer will continue to make such the remaining monthly payments payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary for the remaining periodbeneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 7 contracts

Samples: Continuation Agreement (Centennial First Financial Services), Executive Salary Continuation Agreement (United Security Bancshares), Executive Salary Continuation Agreement (United Security Bancshares)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty (180) monthly payments to which he is entitled hereunderdescribed in paragraph 3.1 above, the Employer will continue to make such the remaining monthly payments payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary for the remaining periodbeneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 6 contracts

Samples: Executive Salary Continuation Agreement (Plumas Bancorp), Executive Salary Continuation Agreement (Plumas Bancorp), Executive Salary Continuation Agreement (Plumas Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty one hundred eighty (180) monthly payments to which he is entitled hereunderdescribed in paragraph 3.1 above, the Employer will continue to make such the remaining monthly payments payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's ’s designated beneficiary for the remaining periodbeneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's ’s Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's ’s estate.

Appears in 4 contracts

Samples: Executive Salary Continuation Agreement (1st Centennial Bancorp), Executive Salary Continuation Agreement (1st Centennial Bancorp), Executive Salary Continuation Agreement (1st Centennial Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty one hundred eighty (180) monthly payments to which he is entitled hereunderdescribed in Section 3.1 above, the Employer will continue to make such the remaining monthly payments payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's ’s designated beneficiary for the remaining periodbeneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's ’s Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's ’s estate.

Appears in 4 contracts

Samples: Executive Salary Continuation Agreement (United Security Bancshares), Executive Salary Continuation Agreement (United Security Bancshares), Executive Salary Continuation Agreement (United Security Bancshares)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive RetiresRetires and begins to receive payments pursuant to Paragraph 3.1 hereof, but shall die before receiving all of the One Hundred Eighty (180) monthly payments to which he is entitled hereunderentitled, the Employer will continue to make such monthly payments to the Executive's designated beneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 3 contracts

Samples: Executive Salary Continuation Agreement (Mid Peninsula Bancorp), Continuation Agreement (Mid Peninsula Bancorp), Continuation Agreement (Mid Peninsula Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive RetiresRetires and begins to receive payments pursuant to Paragraph 3.1 hereof, but shall die before receiving all of the One Hundred Eighty (180) monthly payments to which he she is entitled hereunderentitled, the Employer will continue to make such monthly payments to the Executive's designated beneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 2 contracts

Samples: Executive Salary Continuation Agreement (Mid Peninsula Bancorp), Continuation Agreement (Mid Peninsula Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees and Executive agree that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty one hundred eighty (180) monthly payments to which he is entitled hereunderdescribed in paragraph 3.1 above, the Employer will continue to make such the remaining monthly payments payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's ’s designated beneficiary for the remaining periodbeneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's ’s Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's ’s estate.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Western Sierra Bancorp), Salary Continuation Agreement (Western Sierra Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive RetiresRetires and begins to receive payments pursuant to Paragraph 3.1 hereof, but shall die before receiving all of the One Hundred Eighty (180) monthly payments to which he is entitled hereunderentitled, the Employer will continue to make such monthly payments to the Executive's designated beneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term ten-n of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (Mid Peninsula Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty (180) monthly payments to which he is entitled hereunder, the Employer will continue to make such monthly payments to the Executive's designated beneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (Humboldt Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty (180) monthly payments to which he is entitled hereunder, the Employer will continue to make such monthly payments to the Executive's designated beneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spousespouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Heritage Oaks Bancorp

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive RetiresRetires and begins to receive payments pursuant to Paragraph 3.1 hereof, but shall die before receiving all of the One Hundred Eighty (180) monthly payments to which he is entitled hereunderentitled, the Employer will continue to make such monthly payments to the Executive's designated beneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Continuation Agreement (Central Coast Bancorp)

AutoNDA by SimpleDocs

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty Fifty-Six (180156) monthly payments to which he is entitled hereunderdescribed in paragraph 3.1 above, the Employer will continue to make such the remaining monthly payments payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary for the remaining periodbeneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Employment Agreement Agreement (Commerce Security Bancorp Inc)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty (180) monthly payments to which he is entitled hereunder, the Employer will continue to make such monthly payments to the Executive's ’s designated beneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's ’s Surviving Spousespouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's ’s estate.

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (Heritage Oaks Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty (180) monthly payments to which he is entitled hereunder, the Employer will continue to make such monthly payments to the Executive's designated beneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spousespouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate. 4.

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (Heritage Oaks Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Two Hundred Eighty Forty (180240) monthly payments to which he is entitled hereunderdescribed in paragraph 3.1 above, the Employer will continue to make such the remaining monthly payments payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary for the remaining periodbeneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Salary Continuation Agreement (Plumas Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive RetiresRetires and begins to receive payments pursuant to Paragraph 3.1 hereof, but shall die before receiving all of the One Hundred Eighty Twenty (180120) monthly payments to which he she is entitled hereunderentitled, the Employer will continue to make such monthly payments to the Executive's designated beneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Continuation Agreement (Mid Peninsula Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty one hundred eighty (180ISO) monthly payments to which he is entitled hereunderdescribed in paragraph 3.1 above, the Employer will continue to make such the remaining monthly payments payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary for the remaining periodbeneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Continuation Agreement (Centennial First Financial Services)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the One Hundred Eighty one hundred eighty (180) equal monthly payments to which he is entitled hereunderinstallments described in section 3.01 above, the Employer will continue to make such the remaining monthly payments payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's ’s designated beneficiary for the remaining periodBeneficiary. If a valid Beneficiary Designation designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's ’s Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's ’s estate.

Appears in 1 contract

Samples: Continuation Agreement (Plumas Bancorp)

Time is Money Join Law Insider Premium to draft better contracts faster.