Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ hereof shall become irrevocable on the date 90 days before the closing of a Change in Control. The Employee may at any time and from time to time change his designation of, and manner of payment to, a beneficiary. Such election shall, however, become irrevocable upon the Employee's death.
Appears in 2 contracts
Sources: Employment Agreement (Firstfed Bancorp Inc), Employment Agreement (Firstfed Bancorp Inc)
Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ hereof shall become irrevocable on the date 90 days before the closing of a Change change in Controlcontrol. The Employee may at any time and from time to time change his any designation of, and manner of payment to, a beneficiary. Such election shall, however, become irrevocable upon the Employee's death.
Appears in 2 contracts
Sources: Employment Agreement (Firstfed Bancorp Inc), Employment Agreement (Firstfed Bancorp Inc)
Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ paragraph 1 hereof shall become irrevocable on the date 90 days before prior to the closing of a Change change in Controlcontrol. The Employee may may, by submitting an effective superseding Deferred Payment Election Form at any time and from time to time time, prospectively change his the beneficiary designation of, and the manner of payment to, to a beneficiary. Such election elections shall, however, become irrevocable upon the Employee's death.
Appears in 2 contracts
Sources: Change in Control Protective Agreement (HCB Bancshares Inc), Change in Control Protective Agreement (HCB Bancshares Inc)
Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ paragraph 1 hereof shall ------------------ become irrevocable on the date 90 days before prior to the closing of a Change change in Controlcontrol. The Employee may may, by submitting an effective superseding Deferred Payment Election Form at any time and from time to time time, prospectively change his the beneficiary designation of, and the manner of payment to, to a beneficiary. Such election elections shall, however, become irrevocable upon the Employee's death.
Appears in 2 contracts
Sources: Employment Agreement (Southern Banc Co Inc), Employment Agreement (Peoples Bancorp Inc /Ny/)
Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ hereof shall become irrevocable on the date 90 days before the closing of a Change change in Controlcontrol. The Employee may Executive may, by submitting an effective superseding Distribution Election Form at any time and from time to time time, prospectively change his the beneficiary designation of, and the manner of payment to, to a beneficiaryBeneficiary. Such election elections shall, however, become irrevocable upon the Employee's Executives' death.
Appears in 2 contracts
Sources: Employment Agreement (Laurel Capital Group Inc), Employment Agreement (Laurel Capital Group Inc)
Effect of Election. The elections made in paragraphs 1, 2, and 3 ------------------ paragraph 1 hereof shall ------------------- become irrevocable on the date 90 days before prior to the closing of a Change change in Controlcontrol. The Employee may may, by submitting an effective superseding Deferred Payment Election Form at any time and from time to time time, prospectively change his the beneficiary designation of, and the manner of payment to, to a beneficiary. Such election elections shall, however, become irrevocable upon the Employee's death.
Appears in 1 contract