Delayed Payments to Specified Employees. If the Executive is a Specified Employee (as defined in section 10(f)) as of the date of Termination of Employment, benefit payments under this section shall be delayed and shall not begin prior to the date that is six months after Termination of Employment (or, if earlier than the end of the six-month period, the date of death of the Executive). Payments to which the Executive would otherwise be entitled during the first six months following Termination of Employment, but for this provision, shall be accumulated and paid on the first day of the seventh month following Termination of Employment.
Appears in 6 contracts
Samples: Employment Agreement (First Northern Community Bancorp), Employment Agreement (First Northern Community Bancorp), Employment Agreement (First Northern Community Bancorp)
Delayed Payments to Specified Employees. If the Executive is a Specified Employee (as defined in section 10(f)) as of the date of Termination of Employment, benefit payments under this section subsection shall be delayed and shall not begin prior to the date that is six months after Termination of Employment (or, if earlier than the end of the six-month period, the date of death of the Executive). Payments to which the Executive would otherwise be entitled during the first six months following Termination of Employment, but for this provision, shall be accumulated and paid on the first day of the seventh month following Termination of Employment.
Appears in 6 contracts
Samples: Employment Agreement (First Northern Community Bancorp), Employment Agreement (First Northern Community Bancorp), Employment Agreement (First Northern Community Bancorp)
Delayed Payments to Specified Employees. If the Executive is a Specified Employee (as defined in section 10(f)1.14) as of the date of Termination of Employment, benefit payments under this section shall be delayed and shall not begin prior to the date that is six months after Termination of Employment (or, if earlier than the end of the six-month period, the date of death of the Executive). Payments to which the Executive would otherwise be entitled during the first six months following Termination of Employment, but for this provision, shall be accumulated and paid on the first day of the seventh month following Termination of Employment.
Appears in 1 contract
Samples: Salary Continuation Agreement (First Northern Community Bancorp)
