Common use of Applicable Benefit Clause in Contracts

Applicable Benefit. The benefit to be paid under this Agreement shall be the benefit corresponding to the first of the following events to occur while performing services for the Employer: the Executive either incurs a Separation from Service, a death, or a termination of employment in connection with a Change in Control. As a result, the Executive will receive only one of these benefits pursuant to this Article 2.

Appears in 5 contracts

Samples: Salary Continuation Agreement (American River Bankshares), Salary Continuation Agreement (American River Bankshares), Salary Continuation Agreement (American River Bankshares)

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