Common use of Death During Employment Clause in Contracts

Death During Employment. In the event of Employee's death during the term of this Agreement, the Bank's obligation to Employee shall be limited to the portion of Employee's compensation which would be payable up to the first working day of the first month after Employee's death, except that any compensation payable to Employee under any benefit plan maintained by the Bank will be paid pursuant to its terms.

Appears in 6 contracts

Samples: Employment Agreement (Jacksonville Bancorp Inc /Fl/), Employment Agreement (Jacksonville Bancorp Inc /Fl/), Employment Agreement (Jacksonville Bancorp Inc /Fl/)

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Death During Employment. In the event of Employee's death during the term of this Agreement, the BankCompany's obligation to Employee shall be limited to the portion of Employee's compensation which would be payable up to the first working day of the first month after Employee's death, except that any compensation payable to Employee under any benefit plan maintained by the Bank Company will be paid pursuant to its terms.

Appears in 5 contracts

Samples: Employment Agreement (PSB Bancgroup Inc), Employment Agreement (PSB Bancgroup Inc), Employment Agreement (PSB Bancgroup Inc)

Death During Employment. In the event of Employee's death during the term of this Agreement, the Bank's obligation to Employee shall be limited to the portion of Employee's compensation which would be payable up to the first working day of the first month after Employee's death, except that any compensation payable death and a pro rated portion of a bonus equal to Employee under any benefit plan maintained the average bonus received by the Bank will be paid pursuant to its termsEmployee in the two prior fiscal years.

Appears in 2 contracts

Samples: Employment Agreement (Jacksonville Bancorp Inc /Fl/), Employment Agreement (Jacksonville Bancorp Inc /Fl/)

Death During Employment. In the event of Employee's death during the term of this Agreement, the Bank's obligation to Employee shall be limited to the portion of Employee's compensation which would be payable up to the first working day of the first month after Employee's death and a pro rated portion of any bonus Employee would have received for the year of his death, except that any compensation payable to Employee under any benefit plan maintained by the Bank will be paid pursuant to its terms.

Appears in 1 contract

Samples: Employment Agreement (Jacksonville Bancorp Inc /Fl/)

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Death During Employment. In the event of Employee's death during the term of this Agreement, the Bank's obligation to Employee shall be limited to the portion of Employee's compensation which that would be payable up to the first working day of the first month after Employee's death, except that any compensation payable to Employee under any benefit plan maintained by the Bank will be paid pursuant to its termsterms and a pro rata portion of any bonus that would have become payable under Section 3(b) of this Agreement shall be paid to Employee's estate.

Appears in 1 contract

Samples: Employment Agreement (Madison Bancshares Inc)

Death During Employment. In the event of Employee's death during the term of this Agreement, the Bank's obligation to Employee shall be limited to the portion of Employee's compensation which would be payable up to the first last working day of the first third month after Employee's death, except that any compensation payable to Employee under any benefit plan maintained by the Bank will be paid pursuant to its terms.

Appears in 1 contract

Samples: Employment Agreement (Coast Financial Holdings Inc)

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