Additional Death Benefit. Employees who retire on or after July 1, 1985, and who have twenty (20) years of service as of 12/31/02, shall be entitled to a five hundred dollar ($500) death benefit payable to a beneficiary designated by the employee.
Additional Death Benefit. Employees who retire on or after July 1, 1985, shall be entitled to a five hundred dollar ($500) death benefit payable to a beneficiary designated by the employee, if at the time of death the employee is entitled to an annuity under a State retirement program. A five hundred dollar ($500) cash death benefit shall also be payable to the designated beneficiary of an employee who becomes totally and permanently disabled on or after July 1, 1985, and who at the time of death is receiving a State disability benefit and is eligible for a deferred annuity under a State retirement program.
Additional Death Benefit. Faculty members retiring on or after July 1, 1981, shall be entitled to a five hundred dollar ($500) death benefit payable to a beneficiary designated by the faculty member, if at the time of death the faculty member is entitled to an annuity under a State retirement program. A five hundred dollar ($500) cash death benefit shall also be payable to the designated beneficiary of a faculty member who becomes totally and permanently disabled on or after July 1, 1983, and who at the time of death is receiving a State disability benefit and is eligible for a deferred annuity under a State retirement program.
Additional Death Benefit. In the event of the death of the Key Employee ------------------------ on any date after the date of this Agreement (but prior to the Closing) on which the Key Employee was an employee "in good standing" immediately prior to the death, then Xxxx Atlantic shall continue to pay to the Key Employee's estate to the second anniversary of the Closing Date (or for two years following the date of death if the Definitive Agreement is terminated as provided in Section 1(b) after the Key Employee's death) the Key Employee's Pay in effect on the date of death.
Additional Death Benefit. ASF Members who retire on or after July 1, 1985, shall be entitled to a five hundred dollar ($500) death benefit payable to a beneficiary designated by the ASF Member, if at the time of death the ASF Member is entitled to an annuity under a State retirement program. A five hundred dollar ($500) cash death benefit shall also be payable to the designated beneficiary of an ASF Member who becomes totally and permanently disabled on or after July 1, 1985, and who at the time of death is receiving a State disability benefit and is eligible for a deferred annuity under a State retirement program.
Additional Death Benefit. 1. Should the Insured be employed by the Bank at the time of death, the Insured’s beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to a lump sum payment equal to the present value of the Additional Retirement Benefit provided in Section III(B)(1) of that certain Amended Executive Salary Continuation Agreement between the Bank and Insured dated of even date herewith (the “Salary Continuation Agreement”), assuming that the payments would begin on the date of death and continue for one hundred and eighty months following retirement, or one hundred percent (100%) of the total proceeds of the New York Life policy, whichever amount is less. Present value calculations shall be made using the assumptions set forth in Section IX(L) of the Salary Continuation Agreement.
2. Should the Insured be retired from the Bank at the time of death, the Insured’s beneficiary(ies), designated in accordance with Paragraph III, shall be entitled to a lump sum payment equal to the present value of one hundred percent (100%) of the sum of all remaining payments that would have been made under Section III(B) of the Salary Continuation Agreement, but for the Insured’s death, or one hundred percent (100%) of the total proceeds of the New York Life policy, whichever amount is less. Present value calculations shall be made using the assumptions set forth in Section IX(L) of the Salary Continuation Agreement.
Additional Death Benefit. Death benefits are provided for by the Retirement Plan. Managers shall receive an additional death benefit of thirteen (13) times the manager’s monthly salary which will be provided by the Department or by an insurance carrier through an agreement executed by the Department and said carrier. Salaried managers shall receive the above death benefits and an additional death benefit of three (3) times the manager's monthly salary which will be provided by the Department or by an insurance carrier through an agreement executed between the Department and said carrier. Effective upon adoption by the Board, the maximum death benefit after retirement will be $20,000 for all managers who retire after October 1,1992, or such higher amount as may be adopted by the Board.
Additional Death Benefit. If the Consulting Agreement has not been earlier terminated in accordance with its terms, in the event that Xxxxxxxxx dies on or after February 15, 2011, and on or before September 30, 2011, Corporation will make a lump sum payment in the amount of $200,000 to Xxxxxxxxx’x heirs, executors or administrators, as the case may be.
Additional Death Benefit. In addition to the above-described death benefits, upon an Executive’s death, the Executive’s Beneficiary shall be entitled to receive a permanent, onetime lump sum death benefit in the amount of Ten Thousand ($10,000.00) Dollars. The lump sum payment shall be made within ninety (90) days of the Executive’s death. This lump sum death benefit shall not be payable in the event the Executive has experienced a Separation from Service for Cause.
Additional Death Benefit. Nurses who retire between July 1, 1985, and December 31, 2007, shall be entitled to a five hundred dollar ($500) death benefit payable to a beneficiary designated by the nurse, if at the time of death the nurse is entitled to an annuity under a State retirement program. A five hundred dollar ($500) cash death benefit shall also be payable to the designated beneficiary of a nurse who becomes totally and permanently disabled between July 1, 1985, and December 31, 2007, and who at the time of death is receiving a State disability benefit and is eligible for a deferred annuity under a State retirement program.
