Common use of Suicide or Misstatement Clause in Contracts

Suicide or Misstatement. Notwithstanding any provision of this Agreement to the contrary, no benefits shall be distributed if the Director commits suicide within two (2) years after the Effective Date of this Agreement, or if an insurance company which issued a life insurance policy covering the Director and owned by the Bank denies coverage (i) for material misstatements of fact made by the Director on an application for such life insurance, or (ii) for any other reason.

Appears in 7 contracts

Sources: Phantom Stock Appreciation Rights Agreement (Kinderhook Bank Corp), Phantom Stock Appreciation Rights Agreement (Kinderhook Bank Corp), Phantom Stock Appreciation Rights Agreement (Kinderhook Bank Corp)

Suicide or Misstatement. Notwithstanding any provision of this Agreement to the contrary, no benefits No benefit shall be distributed if the Director commits suicide within two (2) years after the Effective Date of this AgreementDate, or if an insurance company which issued a life insurance policy covering the Director and owned by the Bank denies coverage (i) for material misstatements of fact made by the Director on an application for such life insurance, or (ii) for any other reason.

Appears in 5 contracts

Sources: New Director Fee Continuation Plan Agreement (Rhinebeck Bancorp, Inc.), New Director Fee Continuation Plan Agreement (Rhinebeck Bancorp, Inc.), New Director Fee Continuation Plan Agreement (Rhinebeck Bancorp, Inc.)

Suicide or Misstatement. Notwithstanding any provision of this Agreement to the contrary, no No benefits shall be distributed if the Director commits suicide within two (2) years after the Effective Date of this Agreement, or if an insurance company which issued a life insurance policy covering the Director and owned by the Bank denies coverage (i) for material misstatements of fact made by the Director on an application for such life insurance, or (ii) for any other reason.

Appears in 4 contracts

Sources: Director Retirement Agreement (Mercer Bancorp, Inc.), Director Retirement Agreement (Mercer Bancorp, Inc.), Director Retirement Agreement (Mercer Bancorp, Inc.)

Suicide or Misstatement. Notwithstanding any provision of this Agreement to the contrary, no No benefits shall be distributed if the Director commits suicide within two (2) years after the Effective Date effective date of this the Prior Agreement, or if an insurance company which issued a life insurance policy covering the Director and owned by the Bank denies coverage (i) for material misstatements of fact made by the Director on an application for such life insurance, or (ii) for any other reason.

Appears in 1 contract

Sources: Director Retirement Plan (Home Federal Bancorp, Inc.)

Suicide or Misstatement. Notwithstanding any provision of this Agreement to the contrary, no benefits No benefit shall be distributed if the Director commits suicide within two (2) years after the Effective Date of this Agreement, or if an insurance company which issued a life insurance policy covering the Director and owned by the Bank denies coverage (i) for material misstatements of fact made by the Director on an application for such life insurance, or (ii) for any other reason.. Neighborhood Community Bank Director Deferred Compensation Agreement

Appears in 1 contract

Sources: Director Deferred Compensation Agreement (Newnan Coweta Bancshares Inc)

Suicide or Misstatement. Notwithstanding any provision of this Agreement anything to the contrarycontrary in this Article 2, no benefits benefit shall be distributed hereunder if the Director commits suicide within two (2) years after following the Effective Date of this Agreement, date hereof or if an insurance company which issued a life insurance policy covering the Director and owned by the Bank denies coverage (i) for material misstatements of fact made by the Director on an application for such life insurance, or (ii) for any other reason.

Appears in 1 contract

Sources: Director Retirement Plan (Eureka Homestead Bancorp, Inc.)

Suicide or Misstatement. Notwithstanding any provision of this Agreement to the contrary, no benefits No benefit shall be distributed if the Director commits suicide within two (2) years after the Effective Date of this Agreement, or if an insurance company which issued a life insurance policy covering the Director and owned by the Bank Company denies coverage (i) for material misstatements of fact made by the Director on an application for such life insurance, or (ii) for any other reason.

Appears in 1 contract

Sources: Director Retirement Agreement (Sierra Bancorp)

Suicide or Misstatement. Notwithstanding any provision of this Agreement to the contrary, no No benefits shall be distributed if the Director commits suicide within two three (23) years after the Effective Date of this Agreement, or if an insurance company which issued a life insurance policy covering the Director and owned by the Bank denies coverage (i) for material misstatements of fact made by the Director on an application for such life insurance, or (ii) for any other reason.

Appears in 1 contract

Sources: Director Retirement Agreement (Ohio Valley Banc Corp)