Common use of Your Death Clause in Contracts

Your Death. Your employment will automatically terminate upon your death, in which case you shall be entitled to your base pay through the date of termination and all awards of restricted stock, stock options and any other incentive or benefit plans shall be handled in accordance with the terms of the relevant plan documents. In the event your employment ends under this paragraph 7, you agree you will resign any and all positions you hold as an officer of the Companies or on the Companies’ Boards and that such resignation shall become effective on your final date of employment. We intend this Agreement to be in compliance with Section 409A of the Internal Revenue Code and its accompanying regulations and it should be interpreted accordingly. Therefore if any payments made to you under the above subparagraph 7(b) or 7(c) exceed any applicable safe harbor under Section 409A of the Internal Revenue Code, than the excess over such safe harbor will be paid within sixty (60) days following your termination under subparagraph 7(b) or 7(c). The parties acknowledge that the payments and benefits provided for under subparagraphs 7(b) and 7(c) may not be accrued or paid until after FFFD is no longer participating in the Troubled Assets Relief Program and the Capital Purchase Program (together “TARP”)

Your Death. Your employment will automatically terminate upon your death, in which case you shall be entitled to your base pay through the date of termination and all awards of restricted stock, stock options and any other incentive or benefit plans shall be handled in accordance with the terms of the relevant plan documents. In the event your employment ends under this paragraph 7, you agree you will resign any and all positions you hold as an officer of the Companies or on the Companies’ Boards and that such resignation shall become effective on your final date of employment. We intend this Agreement to be in compliance with Section 409A of the Internal Revenue Code and its accompanying regulations and it should be interpreted accordingly. Therefore if any payments made to you under the above subparagraph 7(b) or 7(c) exceed any applicable safe harbor under Section 409A of the Internal Revenue Code, than the excess over such safe harbor will be paid within sixty (60) days following your termination under subparagraph 7(b) or 7(c). The parties acknowledge that the payments and benefits provided for under subparagraphs 7(b) and 7(c) may not be accrued or paid until after FFFD is no longer participating in the Troubled Assets Relief Program and the Capital Purchase Purchases Program (together “TARP”).