Voluntary and Involuntary Termination of Service. If the Executive exercises his withdrawal rights pursuant to Subsection 2.2, and the Executive's service with the Bank is voluntarily or involuntarily terminated for any reason (excluding termination under 2.1(c)(2) or (3) above), within thirty (30) days of such termination of service, no further Phantom Contributions shall be required of the Bank. Interest, at a rate equal to the Interest Factor, shall accrue on such Phantom Contributions until the Executive’s Benefit Eligibility Date.
Appears in 3 contracts
Samples: Deferred Compensation Agreement (First Bancorp of Indiana Inc), Deferred Compensation Agreement (First Bancorp of Indiana Inc), Deferred Compensation Agreement (First Bancorp of Indiana Inc)
Voluntary and Involuntary Termination of Service. If the Executive exercises his withdrawal rights pursuant to Subsection 2.2, and 2.2,’and the Executive's ’s service with the Bank is voluntarily or involuntarily terminated for any reason (including termination due to disability of the Executive, but excluding termination under 2.1(c)(2) for Cause, or (3) above)termination following a Change in Control, within thirty (30) days of such termination of service, no further Phantom Contributions shall be required of the Bank. Interest, at a rate equal to the Interest Factor, shall accrue on such Phantom Contributions until the Executive’s Benefit Eligibility Date.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan (West End Indiana Bancshares, Inc.)
