Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 8 contracts
Sources: Endorsement Split Dollar Agreement (Cortland Bancorp Inc), Endorsement Split Dollar Agreement (Cortland Bancorp Inc), Endorsement Split Dollar Agreement (Tidelands Bancshares Inc)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, This Agreement shall automatically terminate and the Executive’s rights and interest in this Agreement shall terminate upon the first to occur of (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of be forfeited if benefits under the Salary Continuation Agreement are neither paid nor payable because of termination under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65. This Agreement shall also terminate upon distribution of death benefits in accordance with Section 2.2 above.
Appears in 7 contracts
Sources: Endorsement Split Dollar Agreement, Endorsement Split Dollar Agreement (BNC Bancorp), Endorsement Split Dollar Agreement (BNC Bancorp)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (wx) distribution of the death benefit proceeds in accordance with section 2.2 above, or (xy) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 5 contracts
Sources: Endorsement Split Dollar Agreement (1st Financial Services CORP), Endorsement Split Dollar Agreement (1st Financial Services CORP), Endorsement Split Dollar Agreement (1st Financial Services CORP)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (wx) distribution of the death benefit proceeds in accordance with section 2.2 above, or (xy) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (yz) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 5 contracts
Sources: Endorsement Split Dollar Agreement (First Reliance Bancshares Inc), Endorsement Split Dollar Agreement (Crescent Financial Corp), Endorsement Split Dollar Agreement (First Reliance Bancshares Inc)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this This Agreement shall terminate upon the first to occur of (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65Executive’s attainment of Normal Retirement Age.
Appears in 5 contracts
Sources: Endorsement Split Dollar Agreement (1st Financial Services CORP), Endorsement Split Dollar Agreement (1st Financial Services CORP), Endorsement Split Dollar Agreement (1st Financial Services CORP)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (v) surrender, lapse, or other termination of the Policy by the Bank, or (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 5 contracts
Sources: Split Dollar Agreement (Cortland Bancorp Inc), Split Dollar Agreement and Endorsement (Cortland Bancorp Inc), Split Dollar Agreement (Cortland Bancorp Inc)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (wu) surrender, lapse, or other termination of the Policy by the Bank, or (v) distribution of the death benefit proceeds in accordance with section 2.2 above, or (xw) termination of the Salary Continuation Executive’s employment for “cause” pursuant to the Amended Supplemental Executive Retirement Plan Agreement under Article 5 of the Salary Continuation Agreementwith SB Financial Group, Inc., or (yx) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 5 contracts
Sources: Split Dollar Agreement, Supplemental Executive Retirement Plan Agreement (Sb Financial Group, Inc.), Split Dollar Agreement (Sb Financial Group, Inc.)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of any of the following:
(wa) distribution Surrender, lapse, or other termination of the Policy by the Bank,
(b) Distribution of the death benefit proceeds in accordance with section Section 2.2 above, or ,
(xc) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) Upon the Executive’s Separation from Service's 65th birthday, or and
(zd) Upon the date the Executive attains age 65Executive's Termination of Employment.
Appears in 5 contracts
Sources: Split Dollar Agreement (Cortland Bancorp Inc), Split Dollar Agreement (Cortland Bancorp Inc), Split Dollar Agreement (Cortland Bancorp Inc)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, This Agreement shall automatically terminate and the Executive’s rights and interest in this Agreement shall terminate upon the first to occur of (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of be forfeited if benefits under the Salary Continuation Agreement are neither paid nor payable because of termination under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65. This Agreement shall also terminate upon distribution of death benefits in accordance with section 2.2 above.
Appears in 4 contracts
Sources: Endorsement Split Dollar Agreement, Endorsement Split Dollar Agreement (Oak Ridge Financial Services, Inc.), Endorsement Split Dollar Agreement (Oak Ridge Financial Services, Inc.)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (wx) distribution of the death benefit proceeds in accordance with section 2.2 above, or (xy) termination of the Amended Salary Continuation Agreement under Article 5 of the Amended Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 4 contracts
Sources: Endorsement Split Dollar Agreement (BNC Bancorp), Endorsement Split Dollar Agreement (BNC Bancorp), Endorsement Split Dollar Agreement (BNC Bancorp)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (w) distribution of the death benefit proceeds in accordance with section 2.2 above2.2, or (x) termination of the Salary Continuation Nonqualified Deferred Compensation Agreement under Article 5 of the Salary Continuation Nonqualified Deferred Compensation Agreement, or (y) the Executive’s Separation from Service, or (z) surrender, lapse, or other termination of the date Policy of the Executive attains age 65Bank.
Appears in 3 contracts
Sources: Endorsement Split Dollar Agreement (Paragon Commercial CORP), Endorsement Split Dollar Agreement (Paragon Commercial CORP), Endorsement Split Dollar Agreement (Paragon Commercial CORP)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement will automatically terminate and the Executive=s Interest shall be forfeited if benefits under the Salary Continuation Agreement are neither paid nor payable because of termination under Article 5 of the Salary Continuation Agreement. This Agreement shall also terminate upon the first to occur occurrence of any one of the following:
(wa) distribution Surrender, lapse, or other termination of the Policy by the Bank, or
(b) Distribution of the death benefit proceeds in accordance with section Section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 3 contracts
Sources: Endorsement Split Dollar Agreement (Crescent Financial Corp), Endorsement Split Dollar Agreement (Crescent Financial Corp), Endorsement Split Dollar Agreement (Crescent Financial Corp)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement will automatically terminate and the Executive's Interest shall be forfeited if benefits under the Salary Continuation Agreement are neither paid nor payable because of termination under Article 5 of the Salary Continuation Agreement. This Agreement shall also terminate upon the first to occur occurrence of any one of the following:
(wa) surrender, lapse, or other termination of the Policy by the Bank, or
(b) distribution of the death benefit proceeds in accordance with section Section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 2 contracts
Sources: Endorsement Split Dollar Agreement (Citizens South Banking Corp), Endorsement Split Dollar Agreement (Citizens South Banking Corp)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement will automatically terminate and the Executive's Interest shall be forfeited if benefits under the Salary Continuation Agreement are neither paid nor payable because of termination under Article 5 of the Salary Continuation Agreement. This Agreement shall also terminate upon the first to occur occurrence of any one of the following -
(wa) surrender, lapse, or other termination of the Policy by the Bank, or
(b) distribution of the death benefit proceeds in accordance with section Section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 2 contracts
Sources: Endorsement Split Dollar Agreement (Citizens South Banking Corp), Endorsement Split Dollar Agreement (Citizens South Banking Corp)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement will automatically terminate and the Executive's Interest shall be forfeited if benefits under the Salary Continuation Agreement are neither paid nor payable because of termination under Article 5 of the Salary Continuation Agreement. This Agreement shall also terminate upon the first to occur occurrence of any one of the following
(wa) surrender, lapse, or other termination of the Policy by the Bank, or
(b) distribution of the death benefit proceeds in accordance with section Section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 1 contract
Sources: Endorsement Split Dollar Agreement (Citizens South Banking Corp)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s 's Separation from Service, or (z) the date the Executive attains age 65.
Appears in 1 contract
Sources: Endorsement Split Dollar Agreement (First South Bancorp Inc)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement will automatically terminate and the Executive's Interest shall be forfeited if benefits under the Salary Continuation Agreement are neither paid nor payable because of termination under Article 5 of the Salary Continuation Agreement. This Agreement shall also terminate upon the first to occur occurrence of any one of the following -
(wa) surrender, lapse, or other termination of the Policy by the Bank, or (b) distribution of the death benefit proceeds in accordance with section Section 2.2 above, or (x) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 1 contract
Sources: Endorsement Split Dollar Agreement (Citizens South Banking Corp)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely only by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of any of the following:
(wa) distribution Surrender, lapse, or other termination of the Policy by the Bank,
(b) Distribution of the death benefit proceeds in accordance with section Section 2.2 above, or ,
(xc) termination of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) Upon the Executive’s Separation from Service's 65th birthday, or and
(zd) Upon the date the Executive attains age 65Executive's Termination of Employment.
Appears in 1 contract
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this This Agreement shall terminate upon the first to occur of (w) distribution of the death benefit proceeds benefits in accordance with section Section 2.2 aboveabove or upon the cancellation, surrender, termination or (x) termination lapsing of the Salary Continuation Agreement under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65Policy.
Appears in 1 contract
Sources: Endorsement Split Dollar Agreement (Civitas Bankgroup Inc)
Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (wu) surrender, lapse, or other termination of the Policy by the Bank, or (v) distribution of the death benefit proceeds in accordance with section 2.2 above, or (xw) termination of the Salary Continuation Executive’s employment for “cause” pursuant to the Supplemental Executive Retirement Plan Agreement under Article 5 of the Salary Continuation Agreementwith SB Financial Group, Inc., or (yx) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 1 contract
Amendment and Termination of Agreement. This Agreement may be -------------------------------------- amended or terminated solely by a written agreement signed by the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of any of the following -
(wa) distribution of the death benefit proceeds in accordance with section 2.2 above, or ,
(xb) the Executive's Separation from Service before Normal Retirement Age,
(c) termination of the Salary Continuation Agreement or termination of the Executive's entitlement to death benefits under Article the Salary Continuation Agreement under Articles 3 and 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 65.
Appears in 1 contract
Sources: Split Dollar Agreement (BNC Bancorp)