Death Before Normal Retirement Age. In the event the Executive should die while actively employed by the Company, at any time after the effective date of this Agreement, but prior to the Normal Retirement Date, the Company agrees to pay the benefit amount provided under section 2.1.1 of this Agreement for a period of fifteen (15) years in one hundred eighty (180) equal monthly installments, with each installment to be paid on the first of each month beginning with the month following the Executive’s death, to the Executive’s Beneficiary. If there is no Beneficiary, then the amounts due to the Executive under the terms of this Agreement will be paid by the Company to the duly qualified personal representative, executor or administrator of the Executive’s estate. However, no benefits under this Agreement shall be paid or payable to the Executive’s Beneficiary if this Agreement is terminated under Article 5.
Appears in 6 contracts
Samples: Salary Continuation Agreement (Capital Corp of the West), Salary Continuation Agreement (Capital Corp of the West), Salary Continuation Agreement (Capital Corp of the West)
