Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Director for fifteen (15) years.
Appears in 4 contracts
Samples: Continuation Plan Agreement (Rhinebeck Bancorp, Inc.), Continuation Plan Agreement (Rhinebeck Bancorp, Inc.), Continuation Plan Agreement (Rhinebeck Bancorp, Inc.)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Director for the greater of (i) fifteen (15) yearsyears or (ii) the life of the Director.
Appears in 4 contracts
Samples: Continuation Plan Agreement (Rhinebeck Bancorp, Inc.), Continuation Plan Agreement (Rhinebeck Bancorp, Inc.), Continuation Plan Agreement (Rhinebeck Bancorp, Inc.)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month following Separation from ServiceNormal Retirement Date. The annual benefit shall be distributed to the Director for fifteen ten (1510) years.
Appears in 3 contracts
Samples: Director Retirement Agreement (Mercer Bancorp, Inc.), Director Retirement Agreement (Mercer Bancorp, Inc.), Director Retirement Agreement (Mercer Bancorp, Inc.)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) approximately equal monthly installments commencing on the first day of the month following Separation from ServiceNormal Retirement Date. The annual benefit shall be distributed to the Director for fifteen ten (1510) years. During the period of benefit distributions, the Account shall continue to be credit with earnings until the entire vested benefit has been distributed to the Director.”
Appears in 3 contracts
Samples: Director Retirement Agreement (Mercer Bancorp, Inc.), Director Retirement Agreement (Mercer Bancorp, Inc.), Director Retirement Agreement (Mercer Bancorp, Inc.)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month thirty (30) days following Separation from Service. The annual benefit shall be distributed to the Director for fifteen ten (15) years.10)
Appears in 3 contracts
Samples: Director Retirement Agreement (Berkshire Hills Bancorp Inc), Director Retirement Agreement (Berkshire Hills Bancorp Inc), Director Retirement Agreement (Berkshire Hills Bancorp Inc)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month thirty (30) days following Separation from ServiceNormal Retirement Age. The annual benefit shall be distributed to the Director for fifteen ten (1510) years.
Appears in 3 contracts
Samples: Director Retirement Agreement (Berkshire Hills Bancorp Inc), Director Retirement Agreement (Berkshire Hills Bancorp Inc), Director Retirement Agreement (Berkshire Hills Bancorp Inc)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments for one hundred and twenty (120) months commencing on within thirty (30) days following the first day of the month following Separation from Service. The annual benefit shall be distributed to the Director for fifteen (15) yearsNormal Retirement Date.
Appears in 2 contracts
Samples: Deferred Compensation Agreement (LINKBANCORP, Inc.), Director Deferred Compensation Agreement (LINKBANCORP, Inc.)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to for the Director number of years indicated below: Years of Service Annual Benefit Shall Be Distributed for fifteen (15) years.the Following Number of Years
Appears in 1 contract
Samples: Financial Director Fee Continuation Agreement (MFB Corp)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Director for fifteen (15) years.. Ameriana Bank, SB Supplemental Retirement Plan
Appears in 1 contract
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month following Separation from ServiceNormal Retirement Date. The annual benefit shall be distributed to the Director for fifteen (15) years.
Appears in 1 contract
Samples: Home Federal Bancorp, Inc.
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month following Separation from ServiceNormal Retirement Age. The annual benefit shall be distributed to the Director for fifteen the greater of (15i) yearsseventeen (17) years or (ii) the Director’s lifetime.
Appears in 1 contract
Samples: Director Retirement Agreement (Beach First National Bancshares Inc)
Distribution of Benefit. The Bank shall distribute the annual benefit shall be distributed to the Director in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Director for fifteen ten (1510) years.
Appears in 1 contract
Samples: Director Deferred Compensation Agreement (Sussex Bancorp)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Director for fifteen ten (1510) years.
Appears in 1 contract
Samples: Director Retirement Agreement (Mercer Bancorp, Inc.)
Distribution of Benefit. The Bank Company shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Director for fifteen (15) years.
Appears in 1 contract
Samples: Plumas Bank Director Retirement Agreement (Plumas Bancorp)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Director for fifteen (15) yearsuntil the Director’s death.
Appears in 1 contract
Samples: Director Retirement Agreement (Central Valley Community Bancorp)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve four (124) equal monthly quarterly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Director for fifteen (15) years.. Ameriana Bank, SB Supplemental Retirement Plan
Appears in 1 contract
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Servicethe Normal Retirement Date. The annual benefit shall be distributed to the Director for fifteen (15) years.
Appears in 1 contract
Samples: Director Retirement Agreement (Alamogordo Financial Corp)
Distribution of Benefit. The Bank shall distribute the annual benefit to the Director in twelve (12) equal monthly installments a lump sum commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Director for fifteen (15) years.. Ameriana Bank, SB Supplemental Retirement Plan
Appears in 1 contract
