Common use of Payments in the Event of Death After Retirement Clause in Contracts

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the one hundred eighty (180) monthly payments described in paragraph 3.1 above, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 7 contracts

Samples: Executive Salary Continuation Agreement (United Security Bancshares), Executive Salary Continuation Agreement (United Security Bancshares), Salary Continuation Agreement (Centennial First Financial Services)

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Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the one hundred eighty One Hundred Eighty (180) monthly payments described in paragraph 3.1 above, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 6 contracts

Samples: Executive Salary Continuation Agreement (Plumas Bancorp), Executive Salary Continuation Agreement (Pacific Community Banking Group), Executive Salary Continuation Agreement (Hemet Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the one hundred eighty (180) monthly payments described in paragraph Section 3.1 above, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's ’s designated beneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's ’s Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's ’s estate.

Appears in 4 contracts

Samples: Executive Salary Continuation Agreement (United Security Bancshares), Executive Salary Continuation Agreement (United Security Bancshares), Executive Salary Continuation Agreement (United Security Bancshares)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the one hundred eighty (180) monthly payments described in paragraph 3.1 above, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's ’s designated beneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's ’s Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's ’s estate.

Appears in 4 contracts

Samples: Executive Salary Continuation Agreement (1st Centennial Bancorp), Executive Salary Continuation Agreement (1st Centennial Bancorp), Executive Salary Continuation Agreement (1st Centennial Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive RetiresRetires and begins to receive payments pursuant to Paragraph 3.1 hereof, but shall die before receiving all of the one hundred eighty One Hundred Eighty (180) monthly payments described in paragraph 3.1 aboveto which he is entitled, the Employer will continue to make the remaining such monthly payments, undiminished and on the same schedule as if the Executive had not died, payments to the Executive's designated beneficiarybeneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 3 contracts

Samples: Executive Salary Continuation Agreement (Mid Peninsula Bancorp), Continuation Agreement (Mid Peninsula Bancorp), Continuation Agreement (Mid Peninsula Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees and Executive agree that if the Executive Retires, but shall die before receiving all of the one hundred eighty (180) monthly payments described in paragraph 3.1 above, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's ’s designated beneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's ’s Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's ’s estate.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Western Sierra Bancorp), Salary Continuation Agreement (Western Sierra Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive RetiresRetires and begins to receive payments pursuant to Paragraph 3.1 hereof, but shall die before receiving all of the one hundred eighty One Hundred Eighty (180) monthly payments described in paragraph 3.1 aboveto which she is entitled, the Employer will continue to make the remaining such monthly payments, undiminished and on the same schedule as if the Executive had not died, payments to the Executive's designated beneficiarybeneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 2 contracts

Samples: Executive Salary Continuation Agreement (Mid Peninsula Bancorp), Continuation Agreement (Mid Peninsula Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the one hundred eighty Two Hundred Forty (180240) monthly payments described in paragraph 3.1 above, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Salary Continuation Agreement (Plumas Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive RetiresRetires and begins to receive payments pursuant to Paragraph 3.1 hereof, but shall die before receiving all of the one hundred eighty One Hundred Eighty (180) monthly payments described in paragraph 3.1 aboveto which he is entitled, the Employer will continue to make the remaining such monthly payments, undiminished and on the same schedule as if the Executive had not died, payments to the Executive's designated beneficiarybeneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term ten-n of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (Mid Peninsula Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the one hundred eighty One Hundred Fifty-Six (180156) monthly payments described in paragraph 3.1 above, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Employment Agreement Agreement (Commerce Security Bancorp Inc)

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Payments in the Event of Death After Retirement. The Employer agrees that if the Executive RetiresRetires and begins to receive payments pursuant to Paragraph 3.1 hereof, but shall die before receiving all of the one hundred eighty One Hundred Eighty (180) monthly payments described in paragraph 3.1 aboveto which he is entitled, the Employer will continue to make the remaining such monthly payments, undiminished and on the same schedule as if the Executive had not died, payments to the Executive's designated beneficiarybeneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Continuation Agreement (Central Coast Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the one hundred eighty (180) equal monthly payments installments described in paragraph 3.1 section 3.01 above, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's ’s designated beneficiaryBeneficiary. If a valid Beneficiary Designation designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's ’s Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's ’s estate.

Appears in 1 contract

Samples: Continuation Agreement (Plumas Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the one hundred eighty (180ISO) monthly payments described in paragraph 3.1 above, the Employer will make the remaining monthly payments, undiminished and on the same schedule as if the Executive had not died, to the Executive's designated beneficiary. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Continuation Agreement (Centennial First Financial Services)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive RetiresRetires and begins to receive payments pursuant to Paragraph 3.1 hereof, but shall die before receiving all of the one hundred eighty One Hundred Twenty (180120) monthly payments described in paragraph 3.1 aboveto which she is entitled, the Employer will continue to make the remaining such monthly payments, undiminished and on the same schedule as if the Executive had not died, payments to the Executive's designated beneficiarybeneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Continuation Agreement (Mid Peninsula Bancorp)

Payments in the Event of Death After Retirement. The Employer agrees that if the Executive Retires, but shall die before receiving all of the one hundred eighty (180) monthly payments described in paragraph 3.1 aboveto which he is entitled hereunder, the Employer will continue to make the remaining such monthly payments, undiminished and on the same schedule as if the Executive had not died, payments to the Executive's designated beneficiarybeneficiary for the remaining period. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.

Appears in 1 contract

Samples: Executive Salary Continuation Agreement (Humboldt Bancorp)

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