Common use of Death of Employee Prior to Retirement Clause in Contracts

Death of Employee Prior to Retirement. In the event that Employee should die while in the active employ of the Company, the Company agrees to pay to such persons as he may have designated (in accordance with the provisions of Paragraph 6) a sum equal to Four Hundred Fifty Thousand Dollars ($450,00.00), which sum shall be paid in one hundred twenty (120) monthly installments at the rate of Three Thousand Seven Hundred and Fifty Dollars ($3,750.00) per month, commencing on the first day of the month following Employee’s death. All other terms and provisions of the above referred to Deferred Compensation Agreement shall remain in full force and effect.

Death of Employee Prior to Retirement. In the event that Employee should die while in the active employ of the Company, the Company agrees to pay to such persons as he may have designated (in accordance with the provisions of Paragraph 6) a sum equal to Four Five Hundred Fifty Thousand Dollars ($450,00.00550,00.00), which sum shall be paid in one hundred twenty (120) monthly installments at the rate of Four Thousand Five Hundred Eight Three Thousand Seven Hundred Dollars and Fifty Dollars Thirty Three Cents ($3,750.004,583.33) per month, commencing on the first day of the month following Employee’s death. All other terms and provisions of the above referred to Deferred Compensation Agreement shall remain in full force and effect.

Death of Employee Prior to Retirement. In the event that Employee should die while in the active employ of the Company, the Company agrees to pay to such persons as he may have designated (in accordance with the provisions of Paragraph 6) a sum equal to Four Six Hundred Fifty Thousand Dollars ($450,00.00650,00.00), which sum shall be paid in one hundred twenty (120) monthly installments at the rate of Three Five Thousand Seven Four Hundred Sixteen Dollars and Fifty Dollars Sixty Six Cents ($3,750.005,416.66) per month, commencing on the first day of the month following Employee’s death. All other terms and provisions of the above referred to Deferred Compensation Agreement shall remain in full force and effect.

Death of Employee Prior to Retirement. In the event that Employee should die while in the active employ of the Company, the Company agrees to pay to such persons as he may have designated (in accordance with the provisions of Paragraph 6) a sum equal to Four Hundred Fifty Thousand Dollars ($450,00.00400,000.00), which sum shall be paid in one hundred twenty (120) monthly installments at the rate of Three Thousand Seven Three Hundred and Fifty Thirty Three Dollars and Thirty Three Cents ($3,750.003,333.33) per month, commencing on the first day of the month following Employee’s death. All other terms and provisions of the above referred to Deferred Compensation Agreement shall remain in full force and effect.