Death Prior to Commencement of Benefit Payments. In the event the Director dies prior to Separation from Service, the Bank shall pay the Beneficiary a benefit of One Hundred Twenty Thousand Dollars ($120,000) in lieu of any other benefit hereunder. The benefit will be paid in a lump sum within ninety (90) days following the Director’s death.
Appears in 5 contracts
Samples: Director Retirement Plan (Eureka Homestead Bancorp, Inc.), Director Retirement Plan (Eureka Homestead Bancorp, Inc.), Director Retirement Plan (Eureka Homestead Bancorp, Inc.)
