Common use of Pre-Retirement Death Benefits Clause in Contracts

Pre-Retirement Death Benefits. Should the Director die while --------- ----------------------------- serving as a director of the Bank and prior to the Qualifying Date, the Bank will pay $2,000.00 per month for a continuous period of 120 months to such beneficiary or beneficiaries as are designated by the Director to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 1999, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the last living Beneficiary before all the unpaid payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the Director's estate.

Pre-Retirement Death Benefits. Should the Director die while --------- ----------------------------- serving as a director of the Bank and prior to the Qualifying Date, the Bank will pay $2,000.00 per month for a continuous period of 120 months to such beneficiary or beneficiaries as are designated by the Director to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 19991996, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the last living Beneficiary before all the unpaid payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the Director's estate.

Pre-Retirement Death Benefits. Should the Director die while --------- ----------------------------- serving as a director of the Bank and prior to the Qualifying Date, the Bank will pay $2,000.00 4,088 per month for a continuous period of 120 months to such beneficiary the Beneficiary or beneficiaries as are designated by the Director to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 1999, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the last living Beneficiary before all the unpaid installment payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount payments remaining unpaid at the Director's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the Director's estate. Notwithstanding the foregoing, in the event that the Director commits suicide on or before January 1, 1996, then no benefits shall be paid to the Beneficiary or Beneficiaries; provided, however, that the Beneficiary or Beneficiaries shall be entitled to receive promptly in a lump sum all director's fees deferred by the Director under this Agreement prior to his death, plus interest thereon at a compounded annual rate of six percent (6%).

Pre-Retirement Death Benefits. Should In the Director die while event of the death of --------- ----------------------------- serving as a director of the Employee while employed by the Bank and prior to before the Qualifying Retirement Date or Early Retirement Date, the Bank will pay $2,000.00 per month for a continuous period of 120 months to such beneficiary or beneficiaries as are designated by shall make the Director payments described in Section 1 above to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director Employee died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 1999, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the last living Beneficiary before all the unpaid payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the DirectorEmployee's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the DirectorEmployee's estate. Notwithstanding the foregoing, if the Employee dies as a result of suicide on or before February 28, 1998, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement.

Pre-Retirement Death Benefits. Should the Director die while --------- ----------------------------- serving as a director of the Bank and prior to the Qualifying Date, the Bank will pay $2,000.00 942 per month for a continuous period of 120 months to such beneficiary the Beneficiary or beneficiaries as are designated by the Director to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 1999, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the last living Beneficiary before all the unpaid installment payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount payments remaining unpaid at the Director's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the Director's estate. Notwithstanding the foregoing, in the event that the Director commits suicide on or before January 1, 1996, then no benefits shall be paid to the Beneficiary or Beneficiaries; provided, however, that the Beneficiary or Beneficiaries shall be entitled to receive promptly in a lump sum all director's fees deferred by the Director under this Agreement prior to his death, plus interest thereon at a compounded annual rate of six percent (6%).

Pre-Retirement Death Benefits. Should the Director die while --------- ----------------------------- serving as a director of the Bank and prior to the Qualifying Date, the Bank will pay $2,000.00 4,818 per month for a continuous period of 120 months to such beneficiary the Beneficiary or beneficiaries as are designated by the Director to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 1999, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the last living Beneficiary before all the unpaid installment payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount payments remaining unpaid at the Director's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the Director's estate. Notwithstanding the foregoing, in the event that the Director commits suicide on or before January 1, 1996, then no benefits shall be paid to the Beneficiary or Beneficiaries; provided, however, that the Beneficiary or Beneficiaries shall be entitled to receive promptly in a lump sum all director's fees deferred by the Director under this Agreement prior to his death, plus interest thereon at a compounded annual rate of six percent (6%).

Pre-Retirement Death Benefits. Should In the Director die while event of the death of --------- ----------------------------- serving as a director of the Employee while employed by the Bank and prior to before the Qualifying Retirement Date or Early Retirement Date, the Bank will pay $2,000.00 per month for a continuous period of 120 months to such beneficiary or beneficiaries as are designated by shall make the Director payments described in Section 1 above to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director Employee died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 1999, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the last living Beneficiary before all the unpaid payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the DirectorEmployee's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the DirectorEmployee's estate. Notwithstanding the foregoing, if the Employee dies as a result of suicide on or before January 1, 1996, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement.

Pre-Retirement Death Benefits. Should the Director die while --------- ---------- ----------------------------- serving as a director of the Bank Bank, and prior to the Qualifying Datehis receiving any benefits under Section 2, the Bank will pay $2,000.00 1,100.00 per month (or the Increased Benefit if such applies) for a continuous period of 120 months to such beneficiary the Director's Beneficiary or beneficiaries as are designated by the Director to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 1999, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the Director's last living Beneficiary before all the unpaid payments payment shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six seven and one-half percent (67 1/2%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the a Director's death shall be commuted on the basis of six seven and one-half percent (67 1/2%) per annum compounded interest and shall be paid in a single sum to the Director's estate. 3. Exhibit B attached hereto sets forth the Increased Benefit which will be payable to the Director if he continues service with the Bank after reaching the Retirement Age.

Pre-Retirement Death Benefits. Should In the Director die while event of the death of --------- ----------------------------- serving as a director of the Employee while employed by the Bank and prior to before the Qualifying Retirement Date or Early Retirement Date, the Bank will pay $2,000.00 per month for a continuous period of 120 months to such beneficiary or beneficiaries as are designated by shall make the Director payments described in Section 1 above to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director Employee died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 1999, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the last living Beneficiary before all the unpaid payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the DirectorEmployee's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the DirectorEmployee's estate. Notwithstanding the foregoing, if the Employee dies as a result of suicide on or before February 28, 1996, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement.

Pre-Retirement Death Benefits. Should the Director die while --------- ----------------------------- serving as a director of the Bank and prior to the Qualifying Date, the Bank will pay $2,000.00 513 per month for a continuous period of 120 months to such beneficiary the Beneficiary or beneficiaries as are designated by the Director to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 1999, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the last living Beneficiary before all the unpaid installment payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount payments remaining unpaid at the Director's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the Director's estate. Notwithstanding the foregoing, in the event that the Director commits suicide on or before January 1, 1996, then no benefits shall be paid to the Beneficiary or Beneficiaries; provided, however, that the Beneficiary or Beneficiaries shall be entitled to receive promptly in a lump sum all director's fees deferred by the Director under this Agreement prior to his death, plus interest thereon at a compounded annual rate of six percent (6%).

Pre-Retirement Death Benefits. Should the Director die while --------- ----------------------------- serving as a director of the Bank and prior to the Qualifying Date, the Bank will pay $2,000.00 1,975 per month for a continuous period of 120 months to such beneficiary the Beneficiary or beneficiaries as are designated by the Director to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 1999, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the last living Beneficiary before all the unpaid installment payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount payments remaining unpaid at the Director's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the Director's estate. Notwithstanding the foregoing, in the event that the Director commits suicide on or before January 1, 1996, then no benefits shall be paid to the Beneficiary or Beneficiaries; provided, however, that the Beneficiary or Beneficiaries shall be entitled to receive promptly in a lump sum all director's fees deferred by the Director under this Agreement prior to his death, plus interest thereon at a compounded annual rate of six percent (6%).

Pre-Retirement Death Benefits. Should In the Director die while event of the death of --------- ----------------------------- serving as a director of the Employee while employed by the Bank and prior to before the Qualifying Retirement Date or Early Retirement Date, the Bank will pay $2,000.00 per month for a continuous period of 120 months to such beneficiary or beneficiaries as are designated by shall make the Director payments described in Section 1 above to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director Employee died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 1999, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the last living Beneficiary before all the unpaid payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the DirectorEmployee's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the DirectorEmployee's estate. Notwithstanding the foregoing, if the Employee dies as a result of suicide on or before November 4, 1996, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement.

Pre-Retirement Death Benefits. Should the Director die while --------- ----------------------------- serving as a director of the Bank and prior to the Qualifying Date, the Bank will pay $2,000.00 1,533 per month for a continuous period of 120 months to such beneficiary the Beneficiary or beneficiaries as are designated by the Director to the Bank in writing (the "Beneficiaries"). The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director died. Notwithstanding the foregoing, if the Director dies as a result of suicide on or before January 1, 1999, no benefits of whatever nature shall be payable to the Beneficiaries under this Agreement. In the event of the death of the last living Beneficiary before all the unpaid installment payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, any amount payments remaining unpaid at the Director's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the Director's estate. Notwithstanding the foregoing, in the event that the Director commits suicide on or before January 1, 1996, then no benefits shall be paid to the Beneficiary or Beneficiaries; provided, however, that the Beneficiary or Beneficiaries shall be entitled to receive promptly in a lump sum all director's fees deferred by the Director under this Agreement prior to his death, plus interest thereon at a compounded annual rate of six percent (6%).