Common use of Payments to Specified Employees Clause in Contracts

Payments to Specified Employees. If at the time of the Employee's death Disability, or Normal Retirement, Employee is a Specified Employee, then notwithstanding any provision herein, including Sections 3 and 5, concerning the date of the commencement of payments, all payments that Employee would otherwise have been entitled to receive hereunder during the first six (6) months after his death, Disability or Normal Retirement shall be retained by the Employer and paid to the Employee (or his beneficiary, as the case may be) upon the first day of the seventh (7th) month next following the event giving rise to the commencement of the payments. All payments due on any date more than six (6) months after the event giving rise to the commencement of the payments shall not be delayed and shall be made on the dates as originally set forth herein.

Appears in 3 contracts

Samples: Deferred Compensation Agreement (Simmons First National Corp), Compensation Agreement (Simmons First National Corp), Compensation Agreement (Simmons First National Corp)

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Payments to Specified Employees. If at the time of the Employee's death death, Disability, or Normal Retirement, Employee is a Specified Employee, then notwithstanding any provision herein, including Sections 3 and 5, concerning the date of the commencement of payments, all payments that Employee would otherwise have been entitled to receive hereunder during the first six (6) months after his death, Disability or Normal Retirement shall be retained by the Employer and paid to the Employee (or his beneficiary, as the case may be) upon the first day of the seventh (7th) month next following the event giving rise to the commencement of the payments. All payments due on any date more than six (6) months after the event giving rise to the commencement of the payments shall not be delayed and shall be made on the dates as originally set forth herein.

Appears in 2 contracts

Samples: Compensation Agreement (Simmons First National Corp), Compensation Agreement (Simmons First National Corp)

Payments to Specified Employees. If at the time of the Employee's death ’s death, Disability, or Normal Retirement, Employee is a Specified Employee, then notwithstanding any provision herein, including Sections 3 and 5, concerning the date of the commencement of payments, all payments that Employee would otherwise have been entitled to receive hereunder during the first six (6) months after his death, Disability or Normal Retirement shall be retained by the Employer and paid to the Employee (or his beneficiary, as the case may be) upon the first day of the seventh (7th) month next following the event giving rise to the commencement of the payments. All payments due on any date more than six (6) months after the event giving rise to the commencement of the payments shall not be delayed and shall be made on the dates as originally set forth herein.

Appears in 2 contracts

Samples: Deferred Compensation Agreement (Simmons First National Corp), Deferred (Simmons First National Corp)

Payments to Specified Employees. If at the time of the Employee's death Disabilitydisability, or Normal Retirementseparation from service, Employee is a Specified Employee, then notwithstanding any provision in herein, including Sections paragraphs 3 and 54, concerning the date of the commencement of payments, all payments that Employee would otherwise have been entitled to receive hereunder during the first six (6) months after his death, Disability disability or Normal Retirement death shall be retained by the Employer and paid to the Employee (or his beneficiary, as the case may be) upon the first day of the seventh (7th) month next following the event giving rise to the commencement of the payments. All payments due on any date more than six (6) months after the event giving rise to the commencement of the payments shall not be delayed and shall be made on the dates as originally set forth herein.

Appears in 1 contract

Samples: Compensation Agreement (Simmons First National Corp)

Payments to Specified Employees. If at the time of the Employee's death Disabilitydisability, or Normal Retirementseparation from service, Employee is a Specified Employee, then notwithstanding any provision in herein, including Sections 3 and 5, concerning the date of the commencement of payments, all payments that Employee would otherwise have been entitled to receive hereunder during the first six (6) months after his death, Disability disability or Normal Retirement separation from service shall be retained by the Employer and paid to the Employee (or his beneficiary, as the case may be) upon the first day of the seventh (7th) month next following the event giving rise to the commencement of the payments. All payments due on any date more than six (6) months after the event giving rise to the commencement of the payments shall not be delayed and shall be made on the dates as originally set forth herein.

Appears in 1 contract

Samples: Deferred Compensation Agreement (Simmons First National Corp)

Payments to Specified Employees. If at the time of the Employee's death Disabilitydisability, or Normal Retirementseparation from service, Employee is a Specified Employee, then notwithstanding any provision in herein, including Sections 3 and 5, concerning the date of the commencement of payments, all payments that Employee would otherwise have been entitled to receive hereunder during the first six (6) months after his death, Disability disability or Normal Retirement separation from service shall be retained by the Employer and paid to the Employee (or his beneficiary, as the case may be) upon the first day of the seventh (7th) month next following the event giving rise to the commencement of the payments. All payments due on any date more than six (6) months after the event giving rise to the commencement of the payments Monthly Benefit shall not be delayed and shall be made on the dates as originally set forth herein.

Appears in 1 contract

Samples: Deferred Compensation Agreement (Simmons First National Corp)

Payments to Specified Employees. If at the time of the Employee's death Disabilitydeath, disability, or Normal Retirementseparation from service, Employee is a Specified Employee, then notwithstanding any provision in herein, including Sections 3 and 5, concerning the date of the commencement of payments, all payments that Employee would otherwise have been entitled to receive hereunder during the first six (6) months after his death, Disability disability or Normal Retirement separation from service shall be retained by the Employer and paid to the Employee (or his beneficiary, as the case may be) upon the first day of the seventh (7th) month next following the event giving rise to the commencement of the payments. All payments due on any date more than six (6) months after the event giving rise to the commencement of the payments Monthly Benefit shall not be delayed and shall be made on the dates as originally set forth herein.

Appears in 1 contract

Samples: Deferred Compensation Agreement (Simmons First National Corp)

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Payments to Specified Employees. If at the time of the Employee's death Disability’s death, disability or Normal RetirementSeparation from Service, Employee is a Specified Employee, then notwithstanding any provision in herein, including Sections 3 and 5, concerning the date of the commencement of payments, all payments that Employee would otherwise have been entitled to receive hereunder during the first six (6) 6 months after his death, Disability disability or Normal Retirement Separation from Service shall be retained by the Employer and paid to the Employee (or his beneficiary, as the case may be) upon the first day of the seventh (7th) 7th month next following the event giving rise to the commencement of the payments. All payments due on any date more than six sic (6) months after the event giving rise to the commencement of the payments Monthly Benefit shall not be delayed and shall be made on the dates as originally set forth herein.

Appears in 1 contract

Samples: Compensation Agreement (Simmons First National Corp)

Payments to Specified Employees. If at the time of the Employee's death Disabilitydeath, Disability or Normal Retirement, Employee is a Specified Employee, then notwithstanding any provision herein, including Sections 3 and 5, concerning the date of the commencement of payments, all payments that Employee would otherwise have been entitled to receive hereunder during the first six (6) months after his death, Disability or Normal Retirement shall be retained by the Employer and paid to the Employee (or his beneficiary, as the case may be) upon the first day of the seventh (7th) month next following the event giving rise to the commencement of the payments. All payments due on any date more than six (6) months after the event giving rise to the commencement of the payments shall not be delayed and shall be made on the dates as originally set forth herein.

Appears in 1 contract

Samples: Compensation Agreement (Simmons First National Corp)

Payments to Specified Employees. If at the time of the Employee's ’s death Disability, or Normal Retirement, Employee is a Specified Employee, then notwithstanding any provision herein, including Sections 3 and 5, concerning the date of the commencement of payments, all payments that Employee would otherwise have been entitled to receive hereunder during the first six (6) months after his death, Disability or Normal Retirement shall be retained by the Employer and paid to the Employee (or his beneficiary, as the case may be) upon the first day of the seventh (7th) month next following the event giving rise to the commencement of the payments. All payments due on any date more than six (6) months after the event giving rise to the commencement of the payments shall not be delayed and shall be made on the dates as originally set forth herein.

Appears in 1 contract

Samples: Deferred (Simmons First National Corp)

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