Common use of Amount and Payment of Benefit Clause in Contracts

Amount and Payment of Benefit. At the Bank’s sole discretion upon the Executive’s death, the benefit under this section 3.2 shall be either: (i) the present value, calculated at the discount rate or rates established by the Plan Administrator, at the Executive’s death of the Executive’s remaining salary continuation benefits as determined under section 2.1, paid to the Executive’s Beneficiary in a lump-sum within sixty (60) days of the Executive’s death; or (ii) the Executive’s remaining salary continuation benefits as determined under section 2.1, paid to the Executive’s Beneficiary at the times specified in section 2.1; provided, however, that no benefits under this Agreement shall be paid or payable to the Executive or the Executive’s Beneficiary if this Agreement is terminated under Article 5.

Amount and Payment of Benefit. At the Bank’s sole discretion upon the Executive’s death, the benefit under this section 3.2 3.4 shall be either: (i) the present value, calculated at the discount rate or rates established by the Plan Administrator, at the Executive’s death of the Executive’s remaining salary continuation benefits as determined under section 2.1, 2.2, or 2.3, as applicable, paid to the Executive’s Beneficiary in a lump-sum within sixty (60) days of the Executive’s death; or (ii) the Executive’s remaining salary continuation benefits as determined under section 2.1, 2.2, or 2.3, as applicable, in the amounts specified in the applicable section, paid to the Executive’s Beneficiary at the times specified in section 2.1the applicable section; provided, however, that no benefits under this Agreement shall be paid or payable to the Executive or the Executive’s Beneficiary if this Agreement is terminated under Article 5.

Amount and Payment of Benefit. At the Bank’s 's sole discretion upon the Executive’s 's death, the benefit under this section 3.2 shall be either: (i) the present value, calculated at the discount rate or rates established by the Plan Administrator, at the Executive’s 's death of the Executive’s 's remaining salary continuation benefits as determined under section 2.1, paid to the Executive’s 's Beneficiary in a lump-sum within sixty (60) days of the Executive’s 's death; or (ii) the Executive’s 's remaining salary continuation benefits as determined under section 2.1, paid to the Executive’s 's Beneficiary at the times specified in section 2.1; provided, however, that no benefits under this Agreement shall be paid or payable to the Executive or the Executive’s 's Beneficiary if this Agreement is terminated under Article 5.

Amount and Payment of Benefit. At the Bank’s 's sole discretion upon the Executive’s 's death, the benefit under this section 3.2 3.4 shall be either: (i) the present value, calculated at the discount rate or rates established by the Plan Administrator, at the Executive’s 's death of the Executive’s 's remaining salary continuation benefits as determined under section 2.1, 2.2, or 2.3, as applicable, paid to the Executive’s 's Beneficiary in a lump-sum within sixty (60) days of the Executive’s 's death; or (ii) the Executive’s 's remaining salary continuation benefits as determined under section 2.1, 2.2, or 2.3, as applicable, in the amounts specified in the applicable section, paid to the Executive’s 's Beneficiary at the times specified in section 2.1the applicable section; provided, however, that no benefits under this Agreement shall be paid or payable to the Executive or the Executive’s 's Beneficiary if this Agreement is terminated under Article 5.