Common use of Payment of Benefit Clause in Contracts

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement Age. Such annual benefit shall be paid to the Director for ten (10) consecutive years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 2.4.1 above to the Director in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement Age. Such annual benefit shall be paid to the Director for ten (10) consecutive years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 2.3.1 above to the Director in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement Age. Such annual benefit shall be paid to the Director for ten (10) consecutive years.

Payment of Benefit. The Company Beginning with the month immediately after the month in which the Director attains Normal Retirement Age, the Bank shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement Agemonth. Such The annual benefit shall be paid to the Director for ten (10) consecutive years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Director’s Normal Retirement Age. Such Date, paying the annual benefit shall be paid to the Director for ten (10) consecutive a period of 10 years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 3.1.1 above to the Director Director's beneficiary in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement AgeDirector's death. Such annual benefit shall be paid to the Director Director's beneficiary for ten (10) consecutive years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 2.1.1 above to the Director in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Director's Normal Retirement AgeDate. Such annual benefit shall be paid to the Director for ten (10) consecutive years.

Payment of Benefit. The Company shall pay the annual benefit described in determined under Section 2.2.1 above 2.3.1 to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement Age. Such , paying the annual benefit shall be paid to the Director for ten (10) consecutive a period of 10 years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement AgeDirector's Termination of Service. Such The Company shall pay the annual benefit shall be paid to the Director for ten (10) consecutive 12 years. The Company, in its sole and absolute discretion, may pay the present value of the remaining annual installments in a lump sum, at any time, using an 8 % discount rate.

Payment of Benefit. The Beginning with the month immediately after the month in which the Director attains Normal Retirement Age, the Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement Agemonth. Such The annual benefit shall be paid to the Director for ten (10) consecutive years.

Payment of Benefit. The Company shall pay the annual benefit described shall be paid by the Company in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with on the month following the Normal Retirement AgeDeath of the Director. Such The Company shall pay the annual benefit shall be paid to the Director Director's beneficiary for ten (10) consecutive 15 years.

Payment of Benefit. The Company shall pay the annual benefit described shall be paid by the Company in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with on the month following the Normal Retirement Agedate the Director terminated service. Such The Company shall pay the annual benefit shall be paid to the Director for ten (10) consecutive 12 years. The Company, in its sole and absolute discretion, may pay the present value of the remaining annual installments in a lump sum, at any time, using an 8 % discount rate.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with on the month immediately following the Normal Retirement Agethird anniversary of the Director's Termination of Service. Such The Company shall pay the annual benefit shall be paid to the Director for ten (10) consecutive 12 years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Director's Normal Retirement AgeDate. Such This annual benefit shall be paid to the Director for ten (10) consecutive 15 years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement AgeDate. Such This annual benefit shall be paid to the Director for ten (10) consecutive 15 years.

Payment of Benefit. The Company shall pay the this annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement Age. Such The annual benefit shall be paid to the Director for ten (10) consecutive 10 years.

Payment of Benefit. The Company shall pay the this annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Director's Normal Retirement AgeDate. Such The annual benefit shall be paid to the Director for ten (10) consecutive 10 years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Director's Normal Retirement AgeDate. Such The annual benefit shall be paid to the Director for ten 20 years, or as elected on the Election Form (10) consecutive yearsExhibit 2). The Company shall credit interest pursuant to Section 3.1.2 on the remaining account balance during any applicable installment period.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director Director's beneficiary in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement AgeDirector's Death. Such The annual benefit shall be paid to the Director Director's beneficiary for ten (10) consecutive 20 years. The Company shall credit interest pursuant to Section 3.1.2 on the remaining account balance during any applicable installment period.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Director’s Normal Retirement Age. Such Date, paying the annual benefit shall be paid to the Director for ten (10) consecutive a period of 10 years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement Age. Such , paying the annual benefit shall be paid to the Director for ten (10) consecutive a period of 10 years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above amount to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following Termination of Service, paying the Normal Retirement Age. Such annual benefit shall be paid to the Director for ten (10) consecutive a period of 10 years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement Age. Such , paying the annual benefit shall be paid to the Director for ten (10) consecutive a period of 10 years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 2.1.1 above to the Director in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Director’s Normal Retirement AgeDate. Such annual benefit shall be paid to the Director for ten (10) consecutive years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing month, beginning with the month following after the Normal Retirement Age. Such The annual benefit shall be paid to the Director for ten (10) consecutive 10 years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing month, beginning with the month following after the Director's Normal Retirement AgeDate. Such The annual benefit shall be paid to the Director for ten (10) consecutive 10 years.

Payment of Benefit. The Company shall pay the annual benefit described shall be paid by the Company in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with on the month following the Normal Retirement AgeDeath of the Director. Such The Company shall pay the annual benefit shall be paid to the Director Director's beneficiary for ten (10) consecutive 15 years.. 3.1.3

Payment of Benefit. The Company shall pay the annual benefit described shall be paid by the Company in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with on the month following the Normal Retirement Agedate the Director terminated service. Such The Company shall pay the annual benefit shall be paid to the Director for ten (10) consecutive 12 years.. The Company, in its sole and absolute discretion, may pay the present value of the remaining annual installments in a lump sum, at any time, using an 8 % discount rate. 2.2.3

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Director’s Normal Retirement AgeDate. Such The annual benefit shall be paid to the Director for ten (10) consecutive years. Payment to Specified Employees shall be made on the first day of the seventh (7th) month following Termination of Employment.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) equal monthly installments payable commencing on the first day of each month commencing with the month following the Director's Normal Retirement AgeDate. Such The annual benefit shall be paid to the Director for ten five (105) consecutive years. Schedule A to the Agreement shall be amended in its entirety and replaced with the new Schedule A attached to this Amendment.

Payment of Benefit. The Company shall pay the annual benefit described determined in Section 2.2.1 above 2.1.1 to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Director's Normal Retirement Age. Such Date, the annual benefit shall to be paid to the Director for ten (10) consecutive a period of 12 years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Director’s Normal Retirement AgeDate. Such The annual benefit shall be paid to the Director for ten (10) consecutive years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) equal monthly installments payable commencing on the first day of each month commencing with the month following the Director's Normal Retirement AgeDate. Such The annual benefit shall be paid to the Director for ten five (105) consecutive years.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with on the month immediately following the Normal Retirement Agethird anniversary of the Director's Termination of Service. Such The Company shall pay the annual benefit shall be paid to the Director for ten (10) consecutive 12 years.. 2.1.3

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) 12 equal monthly installments payable on the first day of each month commencing with the month following the Director's Normal Retirement Age. Such annual benefit shall be paid to the Director Age and continuing for ten (10) consecutive years119 additional months.

Payment of Benefit. The Company shall pay the annual benefit described in Section 2.2.1 above to the Director in twelve (12) equal monthly installments payable commencing on the first day of each month commencing with the month following the Director's Normal Retirement AgeDate. Such The annual benefit shall be paid to the Director for ten five (105) consecutive years.. 1NEXT PAGE Community Bank Director Retirement Agreement