Payments in the Event of Disability Prior to Retirement. In the event the Director becomes Disabled at any time after the Effective Date of this Agreement, but prior to Retirement, the Director shall be entitled to the Applicable Percentage of the Director Benefits, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Director becomes Disabled, payable (i) for the period designated in Schedule “D” in the case of the balance in the Benefit Account and (ii) until the Director’s death in the case of the Index Benefit defined in Schedule “B”.
Appears in 3 contracts
Samples: Director Indexed Compensation Benefits Agreement (Heritage Commerce Corp), Director Indexed Compensation Benefits Agreement (Heritage Commerce Corp), Director Indexed Compensation Benefits Agreement (Heritage Commerce Corp)
Payments in the Event of Disability Prior to Retirement. In the event the Director becomes Disabled at any time after the Effective Date of this Agreement, Agreement but prior to Retirement, the Director shall be entitled to be paid the Applicable Percentage of the Director Benefits, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Director becomes Disabled, payable (i) for the period designated in Schedule “"D” " in the case of the balance in the Benefit Account and (ii) until the Director’s 's death in the case of the Index Benefit defined in Schedule “"B”".
Appears in 2 contracts
Samples: 27 Director Supplemental Compensation Agreement (Saratoga Bancorp), Director Supplemental Compensation Agreement (SJNB Financial Corp)
Payments in the Event of Disability Prior to Retirement. In the event the Director becomes Disabled at any time after the Effective Date of this Agreement, Agreement but prior to Retirement, the Director shall be entitled to the Applicable Percentage of the Director Benefits, in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Director becomes Disabled, payable (i) for the period designated in Schedule “D” in the case of the balance in the Benefit Account and (ii) until the Director’s earlier of the death of the Surrogate or the Director in the case of the Index Benefit defined in Schedule “B”.
Appears in 1 contract
Samples: Director Indexed Compensation Benefits Agreement (Heritage Commerce Corp)
