Common use of Unclaimed Benefit Clause in Contracts

Unclaimed Benefit. Each Executive shall keep the Bank informed of his current address and the current address of his Beneficiaries. If the location of an Executive is not made known to the Bank within three (3) years after the date on which any payment of the Supplemental Retirement Income Benefit may first be made, payment may be made as though the Executive had died at the end of the three (3) year period. If, within one (1) additional year after such three (3) year period has elapsed, or, within three (3) years after the actual death of the Executive, whichever comes first, the Bank is unable to locate any Beneficiary of the Executive, the Bank may fully discharge its obligation by payment to the Estate.

Appears in 1 contract

Samples: Executive Supplemental Retirement Income Master Agreement (HomeTrust Bancshares, Inc.)

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Unclaimed Benefit. Each The Executive shall keep the Bank informed of his ------------------ current address and the current address of his Beneficiaries. If the location of an the Executive is not made known to the Bank within three (3) years after the date on which any payment of the Supplemental Retirement Income Benefit may first be made, payment may be made as though the Executive had died at the end of the three (3) year period. If, within one (1) additional year after such three (3) year period has elapsed, or, within three (3) years after the actual death of the Executive, whichever comes first, the Bank is unable to locate any Beneficiary of the Executive, the Bank may fully discharge its obligation by payment to the Estate.

Appears in 1 contract

Samples: Master Agreement (First Bancorp of Indiana Inc)

Unclaimed Benefit. Each The Executive shall keep the Bank informed of his current address and the current address of his Beneficiariesbeneficiaries. If the location of an the Executive is not made known to the Bank within three (3) years after the date on which any payment of the Supplemental Retirement Income Excess Benefit may first be made, payment may be made as though the Executive had died at the end of the three (3) year period. If, within one (1l) additional year after such three (3) year period has elapsed, or, within three (3) years after the actual death of the Executive, whichever comes first, the Bank is unable to locate any Beneficiary of the Executive, the Bank may fully discharge its obligation by payment to the Estate.

Appears in 1 contract

Samples: Retirement Income Agreement (Marion Capital Holdings Inc)

Unclaimed Benefit. Each The Executive shall keep the Bank informed of his ----------------- current address and the current address of his Beneficiaries. If the location of an the Executive is not made known to the Bank within three (3) years after the date on which any payment of the Supplemental Retirement Income Benefit may first be made, payment may be made as though the Executive had died at the end of the three (3) year period. If, within one (1) additional year after such three (3) year period has elapsed, or, within three (3) years after the actual death of the Executive, whichever comes first, the Bank is unable to locate any Beneficiary of the Executive, the Bank may fully discharge its obligation by payment to the Estate.

Appears in 1 contract

Samples: And (First Bancorp of Indiana Inc)

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Unclaimed Benefit. Each The Executive shall keep the Bank informed of his current address and the current address of his Beneficiaries. If the location of an the Executive is not made known to the Bank within three (3) years after the date on which any payment of the Supplemental Retirement Income Deferred Compensation Benefit may first be made, payment may be made as though the Executive had died at the end of the three (3) year period. If, within one (1) additional year after such three (3) year period has elapsed, or, within three (3) years after the actual death of the Executive, whichever comes occurs first, the Bank is unable to locate any Beneficiary of the Executive, the Bank may fully discharge its obligation by payment to the Estate.

Appears in 1 contract

Samples: Executive Deferred Compensation Master Agreement (MFS Financial Inc)

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