Death of Director. Upon the death of the Director, the unvested Reelection Grant Shares will immediately vest.
Death of Director. Any distribution or delivery to be made to the Director under this Agreement will, if the Director is then deceased, be made to the Director’s designated beneficiary to the extent such designation is valid under applicable law. If the Director has not designated a then living beneficiary, distributions and deliveries will be made to the administrator or executor of the Director’s estate. Any such administrator or executor must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.
Death of Director. In the event that the Director dies while in the employ of the Company or during the one (1) month, three (3) month or three (3) year periods referred to in Paragraph 5 above, the Director's designated beneficiary, or if either no beneficiary survives the Director or the Board does not permit beneficiary designations, the administrator or executor of the Director's estate, may, within three (3) years after the date of death, exercise this option. Any such transferee must furnish the Company (a) written notice of his or her status as a transferee, (b) evidence satisfactory to the Company to establish the validity of the transfer of this option and compliance with any laws or regulations pertaining to such transfer, and (c) written acceptance of the terms and conditions of this option as set forth in this Agreement.
Death of Director. Any distribution or delivery to be made to the Director under this Agreement will, if the Director is then deceased, be made to the administrator or executor of the Director’s estate. Any such administrator or executor must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.
Death of Director. In the event that the Director dies while in the employ of the Company or during the three (3) month or three (3) year periods referred to in Paragraph 5 above, the Director’s designated beneficiary, or if either no beneficiary survives the Director or the Board does not permit beneficiary designations, the administrator or executor of the Director’s estate, may, within three (3) years after the date of death, or prior to the Expiration Date, whichever shall first occur, exercise this option. Any such transferee must furnish the Company (a) written notice of his or her status as a transferee, (b) evidence satisfactory to the Company to establish the validity of the transfer of this option and compliance with any laws or regulations pertaining to such transfer, and (c) written acceptance of the terms and conditions of this option as set forth in this Agreement.
Death of Director. If Director dies while still serving as a Director of the Company, this option, whether or not otherwise exercisable at the time of such death, shall be exercisable by the person or persons to whom the option is transferred by will or the laws of descent and distribution, within one year following Director’s death and in no event later than the expiration date of this option. This option or any portion of this option not so exercised following Director’s death shall expire.
Death of Director. Subject to Section 10.13, notwithstanding Section 9.2.4, if a Non-employee Director dies prior to the expiration of his or her options in accordance with Section 9.2.4, his or her options shall terminate three (3) years after the date of his or her death.
Death of Director. Before Age 65. In the event Director should die before reaching age 65, the Bank agrees to pay to Director’s beneficiary (ies) designated in writing to the Bank, the sum of $1,432.75 per month for 120 consecutive months. Payments will begin on the first day of the month following Director’s death.
Death of Director. If the Restricted Stock Units shall vest upon the death of the Director, the shares of Corporation Stock shall be issued and paid to the estate of the Director unless the Corporation shall have theretofore received in writing a beneficiary designation, in which event they shall be issued and paid to the designated beneficiary.
Death of Director. In the event of the death of the DIRECTOR, the then accrued benefits in the program shall be payable in accordance with the designation of beneficiary form(s) executed by the DIRECTOR and the BANK shall have no further obligation to the DIRECTOR'S estate or beneficiaries in connection with the program.
