Common use of Claims Procedure and Arbitration Clause in Contracts

Claims Procedure and Arbitration. In the event that benefits under this Agreement are not paid to the Director (or to his Beneficiary in the case of the Director’s death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made to the Administrator within sixty (60) days from the date payments are refused. The Association and its Board shall review the written claim and, if the claim is denied, in whole or in part, they shall provide in writing, within ninety (90) days of receipt of such claim, their specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based, and any additional material or information necessary to perfect the claim. Such written notice shall further indicate the additional steps to be taken by claimants if a further review of the claim denial is desired. If claimants desire a second review, they shall notify the Administrator in writing within sixty (60) days of the first claim denial. Claimants may review the Agreement or any documents relating thereto and submit any written issues and comments they may feel appropriate. In its sole discretion, the Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and shall include reference to specific provisions of the Agreement upon which the decision is based. If claimants continue to dispute the benefit denial based upon completed performance of the Agreement or the meaning and effect of the terms and conditions thereof, then claimants may submit the dispute to a Board of Arbitration for final arbitration. Said Board shall consist of one member selected by the claimant, one member selected by the Association, and the third member selected by the first two members. The Board shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be bound by the decision of such Board with respect to any controversy properly submitted to it for determination.

Appears in 3 contracts

Samples: Director Deferred Compensation Agreement (First Capital Inc), Director Deferred Compensation Agreement (First Capital Inc), Director Deferred Compensation Agreement (First Capital Inc)

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Claims Procedure and Arbitration. In the event that benefits under this Agreement are not paid to the Director (or to his Beneficiary in the case of the Director’s 's death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made to the Administrator Bank within sixty (60) days from the date payments are refused. The Association Bank and its Board shall review the written claim and, if the claim is denied, in whole or in part, they shall provide in writing, within ninety (90) days of receipt of such claim, their specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based, and any additional material or information necessary to perfect the claim. Such written notice shall further indicate the additional steps to be taken by claimants if a further review of the claim denial is desired. If claimants desire a second review, they shall notify the Administrator Bank in writing within sixty (60) days of the first claim denial. Claimants may review the Agreement or any documents relating thereto and submit any written issues and comments they may feel appropriate. In its sole discretion, the Administrator Bank, through the disinterested member of its Board, shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and shall include reference to specific provisions of the Agreement upon which the decision is based. If claimants continue to dispute the benefit denial based upon completed performance of the Agreement or the meaning and effect of the terms and conditions thereof, then claimants may submit the dispute to a Board board of Arbitration for final arbitration. Said Board board shall consist of one member selected by the claimant, one member selected by the AssociationBank, and the third member selected by the first two members. The Board board of Arbitration shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be bound by the decision of such Board arbitration board with respect to any controversy properly submitted to it for determination.

Appears in 3 contracts

Samples: Compensation Agreement (First Bancorp /In/), Compensation Agreement (First Bancorp /In/), Compensation Agreement (First Bancorp /In/)

Claims Procedure and Arbitration. In the event that benefits under this Agreement are not paid to the Director Participant (or to his Beneficiary in the case of the Director’s Participant's death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made to the Administrator within sixty (60) days from the date payments are refused. The Association and its Board Administrator shall review the written claim and, if the claim is denied, in whole or in part, they it shall provide in writing, within ninety (90) days of receipt of such claim, their its specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based, and any additional material or information necessary to perfect the claim. Such written notice writing by the Administrator shall further indicate the additional steps to which must be taken undertaken by claimants if a further an additional review of the claim denial is desired. If claimants desire a second review, they shall notify the Administrator in writing within sixty (60) days of the first claim denial. Claimants may review the this Agreement or any documents relating thereto and submit any written issues and comments comments, in writing, they may feel appropriate. In its sole discretion, the Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and shall include reference to specific provisions of the this Agreement upon which the decision is based. If claimants continue to dispute the benefit denial based upon completed performance of the this Agreement or the meaning and effect of the terms and conditions thereof, then claimants may submit the dispute to a Board of Arbitration for final arbitration. Said Board of Arbitration shall consist of one member selected by the claimant, one member selected by the AssociationBank, and the third member selected by the first two members. The Board of Arbitration shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and they, their heirs, personal representatives, successors and assigns shall be bound by the decision of such Board of Arbitration with respect to any controversy properly submitted to it for determination.

Appears in 3 contracts

Samples: Supplemental Retirement Income Agreement (Pocahontas Bancorp Inc), Supplemental Retirement Income Agreement (Pocahontas Bancorp Inc), Supplemental Retirement Income Agreement (Pocahontas Bancorp Inc)

Claims Procedure and Arbitration. In the event that benefits under this -------------------------------- Agreement are not paid to the Director Executive (or to his Beneficiary in the case of the Director’s Executive's death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made to the Administrator within sixty (60) days from the date payments are refused. The Association and its Board Administrator shall review the written claim and, if the claim is denied, in whole or in part, they it shall provide in writing, within ninety (90) days of receipt of such claim, their its specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based, and any additional material or information necessary to perfect the claim. Such written notice writing by the Administrator shall further indicate the additional steps to which must be taken undertaken by claimants if a further an additional review of the claim denial is desired. If claimants desire a second review, they shall notify the Administrator in writing within sixty (60) days of the first claim denial. Claimants may review the this Agreement or any documents relating thereto and submit any written issues and comments comments, in writing, they may feel appropriate. In its sole discretion, the Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and shall include reference to specific provisions of the this Agreement upon which the decision is based. If claimants continue to dispute the benefit denial based upon completed performance of the this Agreement or the meaning and effect of the terms and conditions thereof, then claimants may submit the dispute to a Board of Arbitration for final arbitration. Said Board of Arbitration shall consist of one member selected by the claimant, one member selected by the AssociationBank, and the third member selected by the first two members. The Board of Arbitration shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and they, their heirs, personal representatives, successors and assigns shall be bound by the decision of such Board of Arbitration with respect to any controversy properly submitted to it for determination.

Appears in 2 contracts

Samples: Supplemental Retirement Income Agreement (West Essex Bancorp Inc), Supplemental Retirement Income Agreement (West Essex Bancorp Inc)

Claims Procedure and Arbitration. In the event that benefits under this Agreement are not paid to the Director Executive (or to his Beneficiary in the case of the Director’s Executive's death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made to the Administrator within sixty (60) days from the date payments are refused. The Association and its Board Administrator shall review the written claim and, if the claim is denied, in whole or in part, they it shall provide in writing, within ninety (90) days of receipt of such claim, their its specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based, and any additional material or information necessary to perfect the claim. Such written notice writing by the Administrator shall further indicate the additional steps to which must be taken undertaken by claimants if a further an additional review of the claim denial is desired. If claimants desire a second review, they shall notify the Administrator in writing within sixty (60) days of the first claim denial. Claimants may review the this Agreement or any documents relating thereto and submit any written issues and comments comments, in writing, they may feel appropriate. In its sole discretion, the Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and shall include reference to specific provisions of the this Agreement upon which the decision is based. If claimants continue to dispute the benefit denial based upon completed performance of the this Agreement or the meaning and effect of the terms and conditions thereof, then claimants may submit the dispute to a Board of Arbitration for final arbitration. Said Board of Arbitration shall consist of one member selected by the claimant, one member selected by the AssociationBank, and the third member selected by the first two members. The Board of Arbitration shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and they, their heirs, personal representatives, successors and assigns shall be bound by the decision of such Board of Arbitration with respect to any controversy properly submitted to it for determination.

Appears in 2 contracts

Samples: Retirement Income Agreement (Granite State Bankshares Inc), Supplemental Retirement Income Agreement (Granite State Bankshares Inc)

Claims Procedure and Arbitration. In the event that benefits under this Agreement are not paid to the Director Executive (or to his Beneficiary in the case of the DirectorExecutive’s death) and such claimants feel they are claimant that he is entitled to receive such benefits, then a written claim must be made to the Administrator within sixty (60) days from the date payments are refused. The Association and its Board Administrator shall review the written claim and, if the claim is denied, in whole or in part, they it shall provide in writing, within ninety (90) days of receipt of such claim, their its specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based, and any additional material or information necessary to perfect the claim. Such written notice writing by the Administrator shall further indicate the additional steps to which must be taken undertaken by claimants if a further an additional review of the claim denial is desired. If claimants desire the claimant desires a second review, they he shall notify the Administrator in writing within sixty (60) days of the first claim denial. Claimants The claimant may review the this Agreement or any documents relating thereto and submit any written issues and comments comments, in writing, they may feel appropriate. In its sole discretion, the Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and shall include reference to specific provisions of the this Agreement upon which the decision is based. If claimants continue the claimant continues to dispute the benefit denial based upon completed performance of the this Agreement or the meaning and effect of the terms and conditions thereof, then claimants the claimant may submit the dispute to a Board of Arbitration for final arbitration. Said Board of Arbitration shall consist of one member selected by the claimant, one member selected by the AssociationBank, and the third member selected by the first two members. The Board of Arbitration shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and they, their heirs, personal representatives, successors and assigns shall be bound by the decision of such Board of Arbitration with respect to any controversy properly submitted to it for determination.. SECTION XI

Appears in 1 contract

Samples: Supplemental Retirement Income Agreement (Chicopee Bancorp, Inc.)

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Claims Procedure and Arbitration. In the event that benefits under this Agreement are not paid to the Director (or to his Beneficiary in the case of the Director’s death) and and, such claimants feel they are entitled to receive such benefits, then a written claim must be made to the Administrator within sixty (60) days from the date payments are refused. The Association and its Board shall review the written claim and, if the claim is denied, in whole or in part, they shall provide in writing, within ninety (90) days of receipt of such claim, their specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based, and any additional material or information necessary to perfect the claim. Such written notice shall further indicate the additional steps to be taken by claimants if a further review of the claim denial is desired. If claimants desire a second review, they shall notify the Administrator in writing within sixty (60) days of the first claim denial. Claimants may review the Agreement or any documents relating thereto and submit any written issues and comments they may feel appropriate. In its sole discretion, the Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and shall include reference to specific provisions of the Agreement upon which the decision is based. If claimants continue to dispute the benefit denial based upon completed performance of the Agreement or the meaning and effect of the terms and conditions thereof, then claimants may submit the dispute to a Board of Arbitration for final arbitration. Said Board shall consist of one member selected by the claimant, one member selected by the Association, and the third member selected by the first two members. The Board shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be bound by the decision of such Board with respect to any controversy properly submitted to it for determination.

Appears in 1 contract

Samples: Director Deferred Compensation Agreement (First Capital Inc)

Claims Procedure and Arbitration. In the event that benefits under this Agreement are not paid to the Director (or to his Beneficiary in the case of the Director’s death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made to the Administrator within sixty (60) days from the date payments are refused. The Association Bank and its Board shall review the written claim and, if the claim is denied, in whole or in part, they shall provide in writing, within ninety (90) days of receipt of such claim, their specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based, and any additional material or information necessary to perfect the claim. Such written notice shall further indicate the additional steps to be taken by claimants if a further review of the claim denial is desired. If claimants desire a second review, they shall notify the Administrator in writing within sixty (60) days of the first claim denial. Claimants may review the Agreement or any documents relating thereto and submit any written issues and comments they may feel appropriate. In its sole discretion, the Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and shall include reference to specific provisions of the Agreement upon which the decision is based. If claimants continue to dispute the benefit denial based upon completed performance of the Agreement or the meaning and effect of the terms and conditions thereof, then claimants may submit the dispute to a Board of Arbitration for final arbitration. Said Board shall consist of one member selected by the claimant, one member selected by the AssociationBank, and the third member selected by the first two members. The Board shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be bound by the decision of such Board with respect to any controversy properly submitted to it for determination.

Appears in 1 contract

Samples: Director Deferred Compensation Agreement (First Savings Financial Group Inc)

Claims Procedure and Arbitration. In the event that benefits under this Agreement are not paid to the Director Executive (or to his Beneficiary in the case of the Director’s Executive's death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made to the Administrator within sixty (60) days from the date payments are refused. The Association Bank and its Board shall review the written claim and, if the claim is denied, in whole or in part, they of Directors shall provide in writing, within ninety (90) days of receipt of such claim, their specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based, and any additional material or information necessary to perfect the claim. Such written notice writing by the Bank and its Board of Directors shall further indicate the additional steps to which must be taken undertaken by claimants if a further an additional review of the claim denial is desired. If claimants desire a second review, they shall notify the Administrator in writing within sixty (60) days of the first claim denial. Claimants may review the this Agreement or any documents relating thereto and submit any written issues and comments comments, in writing, they may feel appropriate. In its sole discretion, the Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and shall include reference to specific provisions of the this Agreement upon which the decision is based. If claimants continue to dispute the benefit denial based upon completed performance of the this Agreement or the meaning and effect of the terms and conditions thereof, then claimants may submit the dispute to a Board of Arbitration for final arbitration. Said Board of Arbitration shall consist of one member selected by the claimant, one member selected by the AssociationBank, and the third member selected by the first two members. The Board of Arbitration shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and they, their heirs, personal representatives, successors and assigns shall be bound by the decision of such Board of Arbitration with respect to any controversy properly submitted to it for determination.

Appears in 1 contract

Samples: Retirement Income Agreement (Marion Capital Holdings Inc)

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