Common use of DEATH BENEFIT PRIOR TO RETIREMENT Clause in Contracts

DEATH BENEFIT PRIOR TO RETIREMENT. In the event the Executive should die while actively employed by the Bank at any time after the date of this Agreement but prior to the Executive attaining the age of sixty-five (65) years, then this agreement shall terminate upon the death of the Executive and no benefit shall be due to any beneficiary(ies) the Executive may have designated in writing and filed with the Bank.

DEATH BENEFIT PRIOR TO RETIREMENT. In the event the Executive should die while actively employed by the Bank at any time after the date of this Agreement but prior to the Executive attaining Executive’s Separation from Service, and prior to any determination of Disability (as provided in Paragraph X) the age Bank will pay an amount equal to the accrued balance on the date of sixty-five (65) years, then this agreement shall terminate upon the death of the Executive and no benefit Executive’s accrued liability retirement account in a lump sum to the Beneficiary. Said payment due hereunder shall be due to any beneficiary(ies) made the Executive may have designated in writing and filed with first day of the Banksecond month following the Executive’s death.