Common use of Death Prior to Benefit Age Clause in Contracts

Death Prior to Benefit Age. If the Executive dies prior to attaining his Benefit Age but while employed at the Bank, the Executive's Beneficiary shall be entitled to the Survivor's Benefit. The Survivor's Benefit shall commence within thirty (30) days of the Executive's death and shall be payable in monthly installments throughout the Payout Period. In the sole discretion of the Bank's Board of Directors, if no life insurance has been obtained on Executive's life, the Survivor's Benefit may be paid in a lump sum.

Death Prior to Benefit Age. If the Executive dies prior to attaining his Benefit Age Age, but while employed at the BankEmployer, the Executive's ’s Beneficiary shall be entitled to the Survivor's ’s Benefit. The Payment of the Survivor's ’s Benefit shall commence within thirty (30) days of the Executive's ’s death and shall be payable as provided in monthly installments throughout the Payout Period. In the sole discretion of the Bank's Board of Directors, if no life insurance has been obtained on Executive's life, the Survivor's Benefit may be paid in a lump sumSection 1.36.

Death Prior to Benefit Age. If the Executive dies prior to attaining his Benefit Age but while employed at the Bank, the Executive's Beneficiary shall be entitled to the Survivor's Benefit. The Survivor's Benefit shall commence within thirty (30) days of the Executive's death and shall be payable in monthly installments throughout the Payout Period. In the sole discretion of the Bank's Board of Directors, if no life insurance has been obtained on Executive's life, the Survivor's Benefit may be paid in a lump sum.

Death Prior to Benefit Age. If the Executive dies prior to attaining his -------------------------- Benefit Age but while employed at the Bank, the Executive's Beneficiary shall be entitled to the Survivor's Benefit. The Survivor's Benefit shall commence within thirty (30) days of the Executive's death and shall be payable in monthly installments throughout the Payout Period. In the sole discretion of the Bank's Board of Directors, if no life insurance has been obtained on Executive's life, the Survivor's Benefit may be paid in a lump sum.

Death Prior to Benefit Age. If the Executive dies prior to attaining -------------------------- his Benefit Age but while employed at the Bank, the Executive's Beneficiary shall be entitled to the Survivor's Benefit. The Survivor's Benefit shall commence within thirty (30) days on the first day of the month following the Executive's death and shall be payable in monthly installments throughout the Payout Period. In the sole discretion of the Bank's Board of Directors, if no life insurance has been obtained on Executive's life, the Survivor's Benefit may be paid in a lump sum.