Common use of Amendment and Termination of Agreement Clause in Contracts

Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (v) surrender, lapse, or other termination of the Policy by the Bank, or (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.

Appears in 5 contracts

Samples: Split Dollar Agreement and Endorsement (Cortland Bancorp Inc), Split Dollar Agreement and Endorsement (Cortland Bancorp Inc), Split Dollar Agreement and Endorsement (Cortland Bancorp Inc)

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Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (u) payment to the Executive of the benefit provided under the Salary Continuation Agreement for a Change in Control, or (v) surrender, lapse, or other termination of the Policy by the Bank, or (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.

Appears in 4 contracts

Samples: Split Dollar Agreement and Endorsement (Cortland Bancorp Inc), Split Dollar Agreement and Endorsement (Cortland Bancorp Inc), Split Dollar Agreement and Endorsement (Cortland Bancorp Inc)

Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (vu) surrender, lapse, or other termination of the Policy by the Bank, or (wv) distribution of the death benefit proceeds in accordance with section 2.2 above, or (xw) termination of the Salary Continuation Executive’s employment for “cause” pursuant to the Amended Supplemental Executive Retirement Plan Agreement under Article 5 of the Salary Continuation Agreementwith SB Financial Group, Inc., or (yx) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.

Appears in 4 contracts

Samples: 2017 Split Dollar Agreement and Endorsement (Sb Financial Group, Inc.), Retirement Plan Agreement (Sb Financial Group, Inc.), Retirement Plan Agreement (Sb Financial Group, Inc.)

Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (v) surrender, lapse, or other termination of the Policy by the Bank, or (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.

Appears in 3 contracts

Samples: Endorsement Split Dollar Agreement (Cortland Bancorp Inc), Endorsement Split Dollar Agreement (Tidelands Bancshares Inc), Endorsement Split Dollar Agreement (Cortland Bancorp Inc)

Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (v) surrender, lapse, or other termination of the Policy by the Bank, or (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s 's Separation from Service, or (z) the date the Executive attains age 65.

Appears in 1 contract

Samples: Endorsement Split Dollar Agreement (First South Bancorp Inc)

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Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (u) payment to the Executive of the benefit provided under the Salary Continuation Agreement for a Change in Control, or (v) surrender, lapse, or other termination of the Policy by the Bank, or (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 6560.

Appears in 1 contract

Samples: Split Dollar Agreement (Cortland Bancorp Inc)

Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (u) payment to the Executive of the benefit provided under the Salary Continuation Agreement for a Change in Control, or (v) surrender, lapse, or other termination of the Policy by the Bank, or (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 6562.

Appears in 1 contract

Samples: Split Dollar Agreement (Cortland Bancorp Inc)

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