Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ hereof shall become irrevocable on the date 90 days before the closing of a change in control. The Employee may at any time and from time to time change any designation of, and manner of payment to, a beneficiary. Such election shall, however, become irrevocable upon the Employee's death.
Appears in 2 contracts
Samples: Employment Agreement (Firstfed Bancorp Inc), Employment Agreement (Firstfed Bancorp Inc)
Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ hereof shall become irrevocable on the date 90 days before the closing of a change Change in controlControl. The Employee may at any time and from time to time change any his designation of, and manner of payment to, a beneficiary. Such election shall, however, become irrevocable upon the Employee's death.
Appears in 2 contracts
Samples: Agreement (Firstfed Bancorp Inc), Agreement (Firstfed Bancorp Inc)
Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ paragraph 1 hereof shall become irrevocable on the date 90 days before prior to the closing of a change in control. The Employee may may, by submitting an effective superseding Deferred Payment Election Form at any time and from time to time time, prospectively change any the beneficiary designation of, and the manner of payment to, to a beneficiary. Such election elections shall, however, become irrevocable upon the Employee's death.
Appears in 2 contracts
Samples: Agreement (HCB Bancshares Inc), Agreement (HCB Bancshares Inc)
Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ hereof shall become irrevocable on the date 90 days before the closing of a change in control. The Employee may Executive may, by submitting an effective superseding Distribution Election Form at any time and from time to time time, prospectively change any the beneficiary designation of, and the manner of payment to, to a beneficiaryBeneficiary. Such election elections shall, however, become irrevocable upon the Employee's Executives' death.
Appears in 2 contracts
Samples: Agreement (Laurel Capital Group Inc), Agreement (Laurel Capital Group Inc)
Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ paragraph 1 hereof shall ------------------ become irrevocable on the date 90 days before prior to the closing of a change in control. The Employee may may, by submitting an effective superseding Deferred Payment Election Form at any time and from time to time time, prospectively change any the beneficiary designation of, and the manner of payment to, to a beneficiary. Such election elections shall, however, become irrevocable upon the Employee's death. 5.
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Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ hereof shall become irrevocable on the date 90 days before the closing of a change Change in controlControl. The Employee Participant may at any time and from time to time change any his designation of, and manner of payment to, a beneficiary. Such election shall, however, become irrevocable upon the EmployeeParticipant's death.
Appears in 1 contract
Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ paragraph 1 hereof shall ------------------- become irrevocable on the date 90 days before prior to the closing of a change in control. The Employee may may, by submitting an effective superseding Deferred Payment Election Form at any time and from time to time time, prospectively change any the beneficiary designation of, and the manner of payment to, to a beneficiary. Such election elections shall, however, become irrevocable upon the Employee's death. 5.
Appears in 1 contract
Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ paragraph 1 hereof shall ------------------ become irrevocable on the date 90 days before prior to the closing of a change in control. The Employee may may, by submitting an effective superseding Deferred Payment Election Form at any time and from time to time time, prospectively change any the beneficiary designation of, and the manner of payment to, to a beneficiary. Such election elections shall, however, become irrevocable upon the Employee's death.
Appears in 1 contract
Samples: Agreement (Southern Banc Co Inc)