Common use of Death after Separation from Service Clause in Contracts

Death after Separation from Service. If the Executive dies after a Separation from Service and if such Separation from Service was not as a result of a Termination for Cause, at the Executive’s death the Executive’s Beneficiary shall be entitled to a monthly payment based on the Alternative Form of Payment the Executive elected in accordance with Section 2.1(c), provided he elected a Alternative Form of Payment in lieu of the Normal Annuity Form which is a Life Annuity. However, no payment shall be made to a Beneficiary under this Section 3.2 if a lump sum payment has previously been made under the Change-in-Control benefit payable under Section 2.5 above. However, 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.

Death after Separation from Service. If the Executive dies after a Separation from Service and if such Separation from Service was not as a result of a Termination for Cause, at the Executive’s death the Executive’s Beneficiary shall be entitled to a monthly payment based on an amount in cash equal to the Alternative Form of Payment Accrual Balance remaining at the Executive elected in accordance with Section 2.1(c)Executive’s death, provided he elected a Alternative Form of Payment in lieu of the Normal Annuity Form which is a Life Annuity. However, no payment shall be made to a Beneficiary under this Section 3.2 if a lump sum payment has previously been made under unless the Change-in-Control benefit shall have previously been paid to the Executive under sections 2.4 or 2.5. If a benefit is payable to the Executive’s Beneficiary under Section 2.5 abovethis section 3.2, the benefit shall be paid in a single lump sum 90 days after the Executive’s death. However, 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.

Death after Separation from Service. If the Executive dies after a Separation from Service and if such Separation from Service was not as a result of a Termination for with Cause, at the Executive’s death the Executive’s Beneficiary shall be entitled to a monthly payment based on an amount in cash equal to the Alternative Form of Payment Accrual Balance remaining at the Executive elected in accordance with Section 2.1(c)Executive’s death, provided he elected a Alternative Form of Payment in lieu of the Normal Annuity Form which is a Life Annuity. However, no payment shall be made to a Beneficiary under this Section 3.2 if a lump sum payment has previously been made under unless the Change-in-Control benefit shall have previously been paid to the Executive under section 2.4 or unless a Change-in-Control payout shall have occurred under section 2.5. If a benefit is payable to the Executive’s Beneficiary under Section 2.5 abovethis section 3.2, the benefit shall be paid in a single lump sum 90 days after the Executive’s death. However, 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.