Common use of Death Prior to Commencement of Benefit Payments Clause in Contracts

Death Prior to Commencement of Benefit Payments. In the event the Executive dies prior to any benefit payments pursuant to Section 4.1, 4.2, 4.3 or 4.4 of this Agreement, the Employer shall pay the Beneficiary the Deferral Account balance calculated as of the date of the Executive’s death, in lieu of any other benefit hereunder. This benefit shall be paid commencing the date indicated, and on the schedule elected, by the Executive on the various Benefit Payment Election Forms completed by the Executive.

Appears in 3 contracts

Samples: Deferred Compensation Agreement (Riverview Financial Corp), Deferred Compensation Agreement (Riverview Financial Corp), Deferred Compensation Agreement (Riverview Financial Corp)

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Death Prior to Commencement of Benefit Payments. In the event the Executive dies prior to any benefit payments pursuant to Section 4.1, 4.2, 4.3 or 4.4 of this Agreement, the Employer shall pay the Beneficiary the Deferral Account balance calculated as of the date of the Executive’s death, in lieu of any other benefit hereunder. This benefit shall be paid in one hundred twenty (120) monthly installments commencing the date indicated, and on the schedule elected, by the Executive on the various Benefit Payment Election Forms completed by within ninety (90) days following the Executive’s death.

Appears in 1 contract

Samples: Executive Deferred Compensation Agreement (Riverview Financial Corp)

Death Prior to Commencement of Benefit Payments. In the event the Executive dies prior to any benefit payments pursuant to Section 4.1, 4.2, 4.3 4.3, or 4.4 of this Agreement, the Employer shall pay the Beneficiary the Deferral Account balance calculated as of the date of the Executive’s death, in lieu of any other benefit hereunder. This benefit shall be paid commencing the date indicated, and on the schedule elected, by the Executive on the various Benefit Payment Election Forms completed by the Executive.

Appears in 1 contract

Samples: Deferred Compensation Agreement (Riverview Financial Corp)

Death Prior to Commencement of Benefit Payments. In the event the Executive dies prior to any benefit payments pursuant to Section 4.1Separation from Service, 4.2, 4.3 or 4.4 of this AgreementDisability and Change in Control, the Employer shall pay the Beneficiary the Deferral Account balance calculated as of the date of at the Executive’s death, in lieu of any other benefit hereunder. This benefit shall be paid commencing the date indicated, and on the schedule elected, in a lump sum or in consecutive monthly installments as elected by the Executive on the various Benefit Payment Distribution Election Forms completed by Form, commencing the month following the Executive’s death. During any payment period, interest shall be credited on the unpaid balance in accordance with Section 3.1(b)(ii).

Appears in 1 contract

Samples: Bank Contribution Deferred Compensation Agreement (Codorus Valley Bancorp Inc)

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Death Prior to Commencement of Benefit Payments. In the event the Executive dies prior to any benefit payments pursuant to Section 4.1, 4.2, 4.3 4.1 or 4.4 4.2 of this Agreement, the Employer shall pay the Beneficiary the Deferral Account balance calculated as of the date of the Executive’s death, in lieu of any other benefit hereunder. This benefit shall be paid in one hundred twenty (120) monthly installments commencing the date indicated, and on the schedule elected, by the Executive on the various Benefit Payment Election Forms completed by within ninety (90) days following the Executive’s death.

Appears in 1 contract

Samples: Executive Deferred Compensation Agreement (Riverview Financial Corp)

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