Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a Specified Employee at Separation from Service, the provisions of this Section 2.6 shall govern all distributions hereunder. Benefit distributions that are made due to a Separation from Service occurring while the Executive is a Specified Employee shall not be made during the first six (6) months following Separation from Service. Rather, any distribution which would otherwise be paid to the Executive during such period shall be accumulated and paid to the Executive in a lump sum on the first business day of the seventh month following the Separation from Service. All subsequent distributions shall be paid in the manner specified. Notwithstanding the forgoing, no such delay or continued delay in payments shall be required following the death of the Executive.
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Samples: Athens Federal Community Bank Supplemental Executive Retirement Plan Agreement (Athens Bancshares Corp), Supplemental Executive Retirement Plan Agreement (Athens Bancshares Corp), Athens Federal Community Bank Supplemental Executive Retirement Plan Agreement (Athens Bancshares Corp)
Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a Specified Employee at Separation from Service, the provisions of this Section 2.6 shall govern all distributions hereunder. Benefit distributions that are made due to a Separation from Service occurring while the Executive is a Specified Employee shall not be made during the first six (6) months following Separation from Service. Rather, any distribution which would otherwise be paid to the Executive during such period shall be accumulated and paid to the Executive in a lump sum on the first business day of the seventh month following the Separation from Service. All subsequent distributions shall be paid in the manner specified. Notwithstanding the forgoing, no such delay or continued delay in payments shall be required following the death of the Executive.
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Samples: Salary Continuation Agreement (Harvard Illinois Bancorp, Inc.), Salary Continuation Agreement (Harvard Illinois Bancorp, Inc.)
Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a Specified Employee at Separation from Service, the provisions of this Section 2.6 shall govern all distributions hereunder. Benefit distributions that are made due to a Separation from Service occurring while the Executive is a Specified Employee shall not be made during the first six (6) months following Separation from Service. Rather, any distribution which would otherwise be paid to the Executive during such period shall be accumulated and paid to the Executive in a lump sum on the first business day of the seventh month following the Separation from Service. All subsequent distributions shall be paid in the manner specified. Notwithstanding the forgoing, no such delay or continued delay in payments shall be required following the death of the Executive.
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