Death During Distribution of a Benefit. If the Director dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Company shall distribute to the Beneficiary a death benefit in a lump sum equal to the Accrual Balance (or remaining Accrual Balance, as applicable) at the time of Director’s death within thirty (30) days of the Director’s death.
Appears in 5 contracts
Samples: Director Retirement Agreement (Plumas Bancorp), Director Retirement Agreement (Plumas Bancorp), Director Retirement Agreement (Plumas Bancorp)
Death During Distribution of a Benefit. If the Director dies after any benefit distributions have commenced under this Agreement but before receiving all such distributionspayments, the Company shall distribute pay the remaining Deferral Account balance at the time of the Director’s death to the Beneficiary a death benefit in a lump sum equal to the Accrual Balance within sixty (or remaining Accrual Balance, as applicable) at the time of Director’s death within thirty (3060) days of following the Director’s death.
Appears in 4 contracts
Samples: Director Deferred Fee Agreement (Community Capital Corp /Sc/), Director Deferred Fee Agreement (Community Capital Corp /Sc/), Director Deferred Fee Agreement (Community Capital Corp /Sc/)
Death During Distribution of a Benefit. If the Director dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Company shall distribute to the Beneficiary a death benefit in a lump sum equal to the Accrual Balance (or remaining Accrual Balance, as applicable) at amount of $30,000 less the time aggregate amount of Director’s death benefits previously paid pursuant to this Agreement within thirty (30) 30 days of the Director’s death.
Appears in 3 contracts
Samples: Director Retirement Agreement (Plumas Bancorp), Director Retirement Agreement (Plumas Bancorp), Plumas Bank Director Retirement Agreement (Plumas Bancorp)
