Common use of Death After Voluntary Termination of Employment Prior to Benefit Age Clause in Contracts

Death After Voluntary Termination of Employment Prior to Benefit Age. In the event of Executive's death following a voluntary termination of employment with the Bank prior to his Benefit Age, for any reason other than Cause, following a Change in Control, or an election of early retirement pursuant to Section 3.1, the Executive's Beneficiary shall be entitled to his Accrued Benefit determined as of the date of death and annuitized using the Interest Factor commencing within thirty (30) days and payable in monthly installments over the Payout Period.