Common use of Death Benefit Amount Clause in Contracts

Death Benefit Amount. In the event that the Executive retires and is entitled to a Supplemental Benefit pursuant to this Section 1.2, but dies before receiving the entire Supplemental Benefit, then the remaining payments shall be made in accordance with the foregoing schedule to such individual or individuals as the Executive has designated in writing, filed with and been approved by the Corporation. In the absence of any effective designation of beneficiary, any such remaining amounts shall be payable to the Executive's duly qualified executor or administrator.