Payment of Benefit. The Bank shall pay the Disability annual benefit amount to the Executive in 12 equal monthly installments, payable on the last day of each month, beginning with the month after the Normal Retirement Age. The annual benefit shall be paid to the Executive for 15 years.
Appears in 8 contracts
Samples: Continuation Agreement (Cortland Bancorp Inc), Continuation Agreement (Cortland Bancorp Inc), Continuation Agreement (Cortland Bancorp Inc)
Payment of Benefit. The Beginning with the month after the Executive’s Normal Retirement Date, the Bank shall pay the Disability annual benefit amount to the Executive in 12 equal monthly installments, payable installments on the last first day of each month, beginning with the month after the Normal Retirement Age. The annual benefit shall be paid to the Executive for 15 years.
Appears in 6 contracts
Samples: Continuation Agreement (Capital Corp of the West), Salary Continuation Agreement (Capital Corp of the West), Salary Continuation Agreement (Capital Corp of the West)
Payment of Benefit. The Beginning with the month immediately after the Executive's Normal Retirement Age, the Bank shall pay the Disability annual benefit amount to the Executive in 12 equal monthly installments, payable installments on the last first day of each month, beginning with the month after the Normal Retirement Age. The annual benefit shall be paid to the Executive for 15 yearshis lifetime.
Appears in 6 contracts
Samples: Continuation Agreement (Citizens South Banking Corp), Continuation Agreement (Citizens South Banking Corp), Continuation Agreement (Citizens South Banking Corp)
Payment of Benefit. The Beginning with the month after Normal Retirement Age, the Bank shall pay the Disability annual benefit Annual Benefit amount to the Executive in 12 equal monthly installments, payable installments on the last first day of each month, beginning with the month after the Normal Retirement Age. The annual benefit shall be paid to the Executive for 15 years.
Appears in 6 contracts
Samples: Dollar Agreement (Unizan Financial Corp), Continuation Agreement (Unizan Financial Corp), Salary Continuation Agreement (Premierwest Bancorp)
Payment of Benefit. The Beginning with the month after the Normal Retirement Age, the Bank shall pay the Disability annual benefit Annual Benefit amount to the Executive in 12 equal monthly installments, payable installments on the last first day of each month, beginning with the month after the Normal Retirement Age. The annual benefit shall be paid to the Executive for 15 years.
Appears in 5 contracts
Samples: Split Dollar Agreement (Newmil Bancorp Inc), Split Dollar Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc)
Payment of Benefit. The Bank shall pay the Disability annual benefit amount to the Executive in 12 equal monthly installments, payable installments on the last first day of each month, month beginning with the calendar month after immediately following the Normal Retirement Ageexpiration of six (6) months from the Executive’s Termination of Employment. The annual benefit shall be paid to the Executive for 15 yearshis or her lifetime.
Appears in 4 contracts
Samples: Continuation Agreement, Salary Continuation Agreement (Midcarolina Financial Corp), Salary Continuation Agreement (Midcarolina Financial Corp)
Payment of Benefit. The Beginning with the month immediately after the Executive’s Normal Retirement Age, the Bank shall pay the Disability annual benefit amount to the Executive in 12 equal monthly installments, payable installments on the last first day of each month, beginning with the month after the Normal Retirement Age. The annual benefit shall be paid to the Executive for 15 yearsthe Executive’s lifetime.
Appears in 4 contracts
Samples: Continuation Agreement, Salary Continuation Agreement (BNC Bancorp), Salary Continuation Agreement (BNC Bancorp)
Payment of Benefit. The Bank shall pay the annual Disability annual benefit amount to the Executive each year for a period of 15 years in 12 equal monthly installments, installments payable on the last first day of each month, beginning with month commencing on the later of (a) the first day of the month after immediately following the Executive’s Normal Retirement Age. The annual benefit shall be paid to Date or (b) the Executive first day of the month following the lapse of six months after Termination of Service, and continuing for 15 yearsthe 179 months thereafter, resulting in a total of 180 payments.
Appears in 4 contracts
Samples: Laurel Savings Bank (Laurel Capital Group Inc), Laurel Savings Bank (Laurel Capital Group Inc), Laurel Savings Bank (Laurel Capital Group Inc)
Payment of Benefit. The Beginning with the month after Termination of Employment due to Disability, the Bank shall pay the Disability annual benefit Annual Benefit amount to the Executive in 12 equal monthly installments, payable installments on the last first day of each month, beginning with the month after the Normal Retirement Age. The annual benefit shall be paid to the Executive for 15 10 years.
Appears in 3 contracts
Samples: Salary Continuation Agreement (First Northern Community Bancorp), Salary Continuation Agreement (First Northern Community Bancorp), Dollar Agreement (First Northern Community Bancorp)
Payment of Benefit. The Bank shall pay the Disability annual benefit amount Benefit to the Executive in 12 equal monthly installments, payable on the last day of each month, beginning commencing with the month after following the Executive’s Normal Retirement Age. The This annual benefit shall be paid to the Executive for 15 yearseach of the fifteen (15) consecutive twelve (12) month periods next following the Executive’s Normal Retirement Age, for a total of 180 consecutive equal monthly payments.
Appears in 3 contracts
Samples: Continuation Agreement (Appalachian Bancshares Inc), Continuation Agreement (Appalachian Bancshares Inc), Salary Continuation Agreement (Appalachian Bancshares Inc)
Payment of Benefit. The Bank shall pay the Disability annual benefit Annual Benefit amount to the Executive in 12 equal monthly installments, installments payable on the last first day of each month, beginning month commencing with the month after the Normal Retirement Agefollowing Termination of Employment due to Disability. The annual benefit shall be paid to the Executive for 15 years.
Appears in 3 contracts
Samples: Salary Continuation Agreement (American River Holdings), Salary Continuation Agreement (American River Holdings), Salary Continuation Agreement (American River Holdings)
Payment of Benefit. The Beginning with the month immediately after the Executive’s Normal Retirement Age, the Bank shall pay the Disability annual benefit amount to the Executive in 12 equal monthly installments, payable installments on the last first day of each month, beginning with the month after the Normal Retirement Age. The annual benefit shall be paid to the Executive for 15 yearshis lifetime.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Midcarolina Financial Corp), Salary Continuation Agreement (Midcarolina Financial Corp), Salary Continuation Agreement (Midcarolina Financial Corp)
Payment of Benefit. The Beginning with the month after Normal Retirement Age, the Bank shall pay the Disability annual benefit amount to the Executive in 12 equal monthly installments, payable installments on the last first day of each month, beginning with the month after the Normal Retirement Age. The annual benefit shall be paid to the Executive for life, with 15 yearsyears of payments guaranteed.
Appears in 3 contracts
Samples: Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc), Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc), Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc)
Payment of Benefit. The Beginning with the month after Normal Retirement Age, the Bank shall pay the Disability annual benefit amount to the Executive in 12 equal monthly installments, payable installments on the last first day of each month, beginning with the month after the Normal Retirement Age. The annual benefit shall be paid to the Executive for 15 10 years.
Appears in 2 contracts
Samples: Continuation Agreement (Intermountain Community Bancorp), Continuation Agreement (Intermountain Community Bancorp)
Payment of Benefit. The Bank shall pay the annual Disability annual benefit amount to the Executive each year for a period of 15 years in 12 equal monthly installments, installments payable on the last first day of each month, beginning with month commencing the month after immediately following the Executive's Normal Retirement Age. The annual benefit shall be paid to Date and continuing for the Executive for 15 years179 months thereafter, resulting in a total of 180 payments.
Appears in 2 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc), Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc)
Payment of Benefit. The Bank shall pay the Disability annual benefit amount Benefit to the Executive in 12 equal monthly installments, payable on the last day of each month, beginning commencing with the month after following the Executive’s Normal Retirement Age, or at such later date as may otherwise be required by this Agreement or by applicable law (including Code Section 409A). The This annual benefit shall be paid to the Executive for 15 yearseach of the fifteen (15) consecutive twelve (12) month periods next following the Executive’s Normal Retirement Age, for a total of 180 consecutive equal monthly payments.
Appears in 1 contract
Samples: Continuation Agreement (Appalachian Bancshares Inc)
Payment of Benefit. The Bank shall pay the Disability annual benefit amount Benefit to the Executive in 12 equal monthly installmentsinstallments commencing within 30 days following the Executive’s Disability, payable on the last day of each month, beginning with the month after the Normal Retirement Age. The annual benefit and shall be paid to the Executive payable each month thereafter for a period of 15 years.
Appears in 1 contract
Samples: Supplemental Employee Retirement Agreement (Territorial Bancorp Inc.)
Payment of Benefit. The Beginning with the month following Termination of Employment, the Bank shall pay the Disability annual benefit Annual Benefit amount to the Executive in 12 equal monthly installments, payable installments on the last day of each month, beginning with the month after the Normal Retirement Age. The annual benefit shall be paid to the Executive for 15 years.
Appears in 1 contract
Payment of Benefit. The Bank shall pay the Disability annual benefit amount Annual Benefit to the Executive in 12 five (5) yearly equal monthly installments, payable on the last 15th day of each month, beginning with the month after following the Normal Retirement AgeExecutive's termination due to Disability, with each subsequent annual installment paid on the same date of each subsequent year as the first annual installment. The Such annual benefit payments shall be paid to made for a period of five (5) years from and including the Executive for 15 yearsyear of the termination.
Appears in 1 contract
