Common use of Death During Benefit Period Clause in Contracts

Death During Benefit Period. If the Executive dies after benefit payments under Article 2 have commenced but before receiving all such payments, the Bank shall pay the remaining benefits to the Executive's beneficiary(ies) at the same time and in the same amounts they would have been paid to the Executive had the Executive survived. In that case, no death benefit shall be payable under this Article 3.

Appears in 8 contracts

Samples: Continuation Agreement (Cortland Bancorp Inc), Continuation Agreement (Cortland Bancorp Inc), Continuation Agreement (Cortland Bancorp Inc)

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Death During Benefit Period. If the Executive dies after benefit payments under Article 2 have commenced of this Agreement commence but before receiving all such payments, or if the Bank shall pay Executive is entitled to benefit payments under Article 2 but dies before payments commence, the remaining benefits payments shall be payable to the Executive's beneficiary(ies) at ’s Beneficiary in accordance with the same time and applicable payment provisions of Article 2, until fully disbursed. Payments shall be made in the same amounts they would have been paid made to the Executive had the Executive survived. In that case, no death benefit shall be payable under this Article 3.

Appears in 6 contracts

Samples: Salary Continuation Plan (Charter Financial Corp), Salary Continuation Plan (Charter Financial Corp/Ga), Salary Continuation Plan (Charter Financial Corp)

Death During Benefit Period. If the Executive dies after benefit payments under Article 2 have commenced Paragraph 4 of this Agreement commences but before receiving all such payments, or if the Bank shall pay Executive is entitled to benefit payments under Paragraph 4 but dies before payments commence, the remaining benefits Accrual Balance shall be payable to the Executive's beneficiary(ies) at ’s Beneficiary in accordance with the same time and applicable payment provisions of Paragraph 4, until fully disbursed. Payments shall be made in the same amounts they would have been paid made to the Executive had the Executive survived. In that case, no death benefit shall be payable under this Article 3.

Appears in 6 contracts

Samples: Salary Continuation Agreement (Wilson Bank Holding Co), Wilson Bank Holding Co, Wilson Bank Holding Co

Death During Benefit Period. If the Executive Executive’s beneficiary dies after death benefit payments under Article 2 have commenced under Section 3.1.2 of this Agreement, but before receiving all such payments, the Bank shall pay the remaining benefits to the designated beneficiary of the Executive's beneficiary(ies) ’s beneficiary at the same time and in the same amounts they the benefit would have been paid to the Executive Executive’s beneficiary had the Executive he or she survived. In that case, no death benefit shall be payable under this Article 3.

Appears in 6 contracts

Samples: Continuation Agreement (Federal Trust Corp), Continuation Agreement (Federal Trust Corp), Continuation Agreement (Federal Trust Corp)

Death During Benefit Period. If the Executive dies after benefit payments under Article 2 have commenced of this Agreement commences but before receiving all such payments, or if the Bank shall pay Executive is entitled to benefit payments under Article 2 but dies before payments commence, the remaining benefits Accrual Balance shall be payable to the Executive's beneficiary(ies) at ’s Beneficiary in accordance with the same time and applicable payment provisions of Article 2, until fully disbursed. Payments shall be made in the same amounts they would have been paid made to the Executive had the Executive survived. In that case, no death benefit shall be payable under this Article 3.

Appears in 5 contracts

Samples: Salary Continuation Agreement (Gateway Financial Holdings Inc), Salary Continuation Agreement (Gateway Financial Holdings Inc), Salary Continuation Plan Agreement (Tennessee Commerce Bancorp, Inc.)

Death During Benefit Period. If the Executive dies after benefit payments under Article 2 of this Agreement have commenced but before receiving all such payments, the Bank shall pay the remaining benefits to the Executive's beneficiary(ies) beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived. In that case, no death benefit shall be payable under this Article 3.

Appears in 4 contracts

Samples: Continuation Agreement (Unizan Financial Corp), Continuation Agreement (Unizan Financial Corp), Salary Continuation Agreement (Newmil Bancorp Inc)

Death During Benefit Period. If the Executive dies after benefit payments under Article 2 of this Agreement have commenced but before receiving all such payments, the Bank shall pay the remaining benefits to the Executive's ’s beneficiary(ies) at the same time and in the same amounts they would have been paid to the Executive had the Executive survived. In that case, no death benefit shall be payable under this Article 3.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Newmil Bancorp Inc), Split Dollar Agreement (Newmil Bancorp Inc), Split Dollar Agreement (Newmil Bancorp Inc)

Death During Benefit Period. If the Executive dies after benefit payments under Article 2 of this Agreement have commenced but before receiving all such payments, the Bank shall pay the remaining benefits to the Executive's beneficiary(ies) at the same time and in the same amounts they would have been paid to the Executive had the Executive survived. In that case, no death benefit shall be payable under this Article 3.

Appears in 3 contracts

Samples: Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc), Salary Continuation Agreement (Premierwest Bancorp), Continuation Agreement (Premierwest Bancorp)

Death During Benefit Period. If the Executive dies after benefit payments under Article 2 have commenced of this Agreement commences but before receiving all such payments, or if the Bank shall pay Executive is entitled to benefit payments under Article 2 but dies before payments commence, the present value of the benefits or the remaining benefits to the Executive's beneficiary(ies) at the same time and in the same amounts they that would have been paid to the Executive had he survived, as the Executive survived. In that casecase may be, no death benefit shall be payable under this Article 3to the Executive’s Beneficiary in a single lump sum within 90 days.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Fraternity Community Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Fraternity Community Bancorp Inc)

Death During Benefit Period. If the Executive dies after benefit payments under Article 2 have commenced of this Agreement commences but before receiving all such payments, or if the Bank Executive is entitled to benefit payments under Article 2 but dies before payments commence, the benefits shall pay the remaining benefits be payable to the Executive's beneficiary(ies) at Beneficiary in accordance with the same time and applicable payment provisions of Article 2, but payments shall commence on the first day of the month after the date of the Executive's death. Payments shall be made in the same amounts they would have been paid made to the Executive had the Executive survived. In that case, no death benefit shall be payable under this Article 3.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Community Capital Bancshares Inc), Salary Continuation Agreement (Community Capital Bancshares Inc)

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Death During Benefit Period. If the Executive dies after benefit payments have commenced or were scheduled to commence under Article 2 have commenced of this Agreement, but before receiving all such paymentspayments the Executive dies, the Bank Company shall then pay the remaining benefits to the Executive's beneficiary(ies) ’s Beneficiary at the same time and in the same amounts they that would have been paid to the Executive had the Executive survived. In Notwithstanding the preceding, the Executive or his Beneficiary shall not be entitled to a benefit under both Article 2 and 3 hereof, it being the intent that case, no death benefit there shall not be payable under this Article 3any duplication of benefits hereunder.

Appears in 2 contracts

Samples: Executive Supplemental Income Agreement (Peoples Financial Corp /MS/), Executive Supplemental Income Agreement (Peoples Financial Corp /MS/)

Death During Benefit Period. If the Executive dies after benefit payments under Article 2 of this Agreement have commenced but before receiving all such payments, the Bank shall pay the remaining benefits to the Executive's beneficiary(ies) at the same time and in the same amounts they would have been paid to the Executive had the Executive survived. In that case, no death benefit shall be payable under this Article 3.

Appears in 1 contract

Samples: Salary Continuation Agreement (Newmil Bancorp Inc)

Death During Benefit Period. If the Executive dies after benefit payments under Article 2 of this Agreement have commenced but before receiving all such payments, the Bank shall pay the remaining benefits to ____________, if she survives him, and if not, to the Executive's beneficiary(ies) Trustee of the ______________ Trust at the same time and in the same amounts they would have been paid to the Executive had the Executive survived. In that case, no death benefit shall be payable under this Article 3.

Appears in 1 contract

Samples: Continuation Agreement (Unb Corp/Oh)

Death During Benefit Period. If the Executive dies after benefit payments under Article 2 of this Agreement have commenced but before receiving all such payments, the Bank shall pay the remaining benefits to the Executive's beneficiary(ies) at beneficiary pursuant to the same time and benefit described in the same amounts they would have been paid to Split Dollar Agreement and Endorsement, attached as Addendum A, between the Bank and the Executive had the Executive survived. In that case, no death in lieu of any other benefit shall be payable under this Article 3hereunder.

Appears in 1 contract

Samples: Continuation Agreement (Fc Banc Corp)

Death During Benefit Period. If the Executive dies after benefit payments have commenced or were scheduled to commence under Article 2 have commenced of this Agreement, but before receiving all such paymentspayments the Executive dies, the Bank Company shall then pay the remaining benefits to the Executive's beneficiary(ies) ’s Beneficiary at the same time and in the same amounts they that would have been paid to the Executive had the Executive survived. In Notwithstanding the preceding, the Executive or her Beneficiary shall not be entitled to a benefit under both Article 2 and 3 hereof, it being the intent that case, no death benefit there shall not be payable under this Article 3any duplication of benefits hereunder.

Appears in 1 contract

Samples: Executive Supplemental Income Agreement (Peoples Financial Corp /MS/)

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