Common use of Death Benefits Clause in Contracts

Death Benefits. After the Executive’s death, the Bank shall pay to the Executive’s Beneficiary the Account Balance as of the date of the Executive’s death. The Account Balance shall be paid to the Executive’s Beneficiary in a single lump sum, 90 days after the date of the Executive’s death. However, if the Executive dies after termination of this Agreement under Article 6, the Executive’s Beneficiary shall be entitled to no benefits under this Agreement.

Appears in 12 contracts

Samples: Middlefield Banking Company (Middlefield Banc Corp), Middlefield Banking Company (Middlefield Banc Corp), Middlefield Banking Company (Middlefield Banc Corp)

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Death Benefits. After the Executive’s death, the Bank shall pay to the Executive’s Beneficiary the Account Balance as of the date of the Executive’s death. The Account Balance shall be paid to the Executive’s Beneficiary in a single lump sum, sum 90 days after the date of the Executive’s death. However, if the Executive dies after termination of this Agreement under Article 6, the Executive’s Beneficiary shall be entitled to no benefits under this Agreement.

Appears in 8 contracts

Samples: Compensation Agreement (Middlefield Banc Corp), Amended Executive Deferred Compensation Agreement (Middlefield Banc Corp), Amended Executive Deferred Compensation Agreement (Middlefield Banc Corp)

Death Benefits. After the Executive’s death, the Bank shall pay to the Executive’s Beneficiary the Account Balance as of the date of the Executive’s death. The Account Balance shall be paid to the Executive’s Beneficiary in a single lump sum, sum within 90 days after the date of the Executive’s death. However, if the Executive dies after termination of this Agreement under Article 6, the Executive’s Beneficiary shall be entitled to no benefits under this Agreement.

Appears in 3 contracts

Samples: Compensation Agreement (Middlefield Banc Corp), Compensation Agreement (Middlefield Banc Corp), Compensation Agreement (Middlefield Banc Corp)

Death Benefits. After the Executive’s death, the Bank shall will pay to the Executive’s Beneficiary the Account Balance as of the date of the Executive’s death. The Account Balance shall will be paid to the Executive’s Beneficiary in a single lump sum, sum 90 days after the date of the Executive’s death. However, if the Executive dies after termination of this Agreement under Article 6, the Executive’s Beneficiary shall be is entitled to no benefits under this Agreement.

Appears in 2 contracts

Samples: Middlefield Banking Company (Middlefield Banc Corp), Middlefield Banking Company (Middlefield Banc Corp)

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Death Benefits. After the Executive’s death, the Bank shall pay to the Executive’s Beneficiary the sum of (a) the Account Balance as of the date of the Executive’s death and (b) the full Credit Amount required for the Plan Year of the Executive’s death, as provided for on Schedule A (unless already made). The Account Balance shall be paid to the Executive’s Beneficiary in a single lump sum, 90 days after sum by March 15th following the date Plan Year of the Executive’s death. However, if the Executive dies after termination of this Agreement under Article 6, the Executive’s Beneficiary shall be entitled to no benefits under this Agreementdeath occurs.

Appears in 1 contract

Samples: Supplemental Executive Retirementaccount Agreement (Oceanfirst Financial Corp)

Death Benefits. After the Executive’s 's death, the Bank shall pay to the Executive’s 's Beneficiary the Account Balance as of the date of the Executive’s 's death. The Account Balance shall be paid to the Executive’s 's Beneficiary in a single lump sum, sum 90 days after the date of the Executive’s 's death. However, if the Executive dies after termination of this Agreement under Article 6, the Executive’s 's Beneficiary shall be entitled to no benefits under this Agreement.

Appears in 1 contract

Samples: Southern Michigan Bancorp Inc

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