Death Prior to Termination of Employment. If Executive dies prior to termination of employment with the Bank (but before commencement of payment of the Supplemental Retirement Income Benefit to Executive), his Beneficiary shall be entitled to the Survivor's Benefit. The first installment shall begin within thirty (30) days after the date of death of Executive and each succeeding installment shall be paid on the next succeeding month thereof during the Payout Period.
Death Prior to Termination of Employment. If the Participant dies while employed by the Bank, the Participant's beneficiary shall be entitled to a benefit equal to two and five-tenths (2.5) times the deceased Participant's Base Annual Salary at the date of death; but not in excess of the maximum benefit amount specified in Exhibit A.
Death Prior to Termination of Employment. If the Executive dies while employed by the Bank, the Executive’s Beneficiary shall be entitled to a benefit equal to $700,000, which amount shall be increased annually on the anniversary date of this Agreement by an inflation adjustment factor of five percent, provided the total benefit shall be prorated from the first day of the year in which death occurs through the date of the Executive’s death and shall not exceed the Net Death Proceeds.
Death Prior to Termination of Employment. If the Executive shall die during the Employment Term, the Company shall have no liability or further obligation except as follows:
(a) The Company shall pay the Executive’s estate or designated beneficiaries, as applicable, when otherwise due, any unpaid Base Salary for the period prior to the Executive’s death, any declared or awarded but unpaid bonuses, whether pursuant to any bonus plan or otherwise, any unpaid amounts due under any incentive plan in accordance with its terms, and any other unpaid amounts due the Executive under any other Benefit Plans in accordance with the terms of such Benefit Plans (collectively, the “Entitlements”).
(b) The Executive’s estate or designated beneficiaries, as applicable, shall have such rights, if any, under the Benefit Plans and all other employee benefit, fringe benefit or incentive plans maintained or offered by the Company as may be provided in such plans and any grants to the Executive thereunder in accordance with their respective terms (collectively, the “Rights”).
Death Prior to Termination of Employment. If the Executive shall die during the Employment Term, the Company shall have no liability or further obligation except as follows:
(a) The Company shall pay the Executive's estate, when otherwise due, any unpaid Base Salary for the period prior to the Executive's death, any declared or awarded but unpaid Incentive Compensation and any other unpaid amounts due the Executive under any other Benefit Plans (collectively, the "Entitlements").
(b) The Executive's estate shall have such rights, if any, under employee benefit, fringe benefit or incentive plans as may be provided in such plans and any grants thereunder in accordance with their respective terms.
Death Prior to Termination of Employment. In the event the Executive dies prior to Termination of Employment, the Company shall pay the Beneficiary the Accrual Balance in lieu of any other benefit hereunder. The benefit will be paid in a lump sum within sixty (60) days following the Executive’s death, with the precise payment date determined by the Employer in its sole discretion.
Death Prior to Termination of Employment. If the Executive dies prior to Termination of Employment, the Company shall distribute to the Beneficiary the benefit described in this Section 5.1. This benefit shall be distributed in lieu of the benefits under Article 4.
Death Prior to Termination of Employment. Upon the occurrence of death prior to a Termination of Employment, the Executive shall be entitled to the Supplemental Benefit. The Supplemental Benefit shall be calculated as if the Executive had remained in employment until the Benefit Age (e.g., crediting additional Years of Service to age 65) and Average Final Pay shall be calculated as of the date of death. The benefit shall be payable to the Executive’s Beneficiary commencing on the first day of the month following the date of death and shall be payable in monthly installments throughout the Payout Period.
Death Prior to Termination of Employment. If the Executive should die prior to Separation from Service, the Executive’s Beneficiary shall be entitled to receive a Retirement Benefit, calculated as if (i) the Executive had remained employed by the Bank until the age of sixty-two (62), and (ii) the Executive’s Compensation had increased 4.5% each year from the date of death until the age of sixty-two (62), and (iii) the stream of payments described in Section 2.2 is assumed to commence upon the Executive’s date of death. Payment made under this Section 2.5 shall be in lieu of and in complete substitution for any other benefits otherwise payable under this Agreement.
Death Prior to Termination of Employment. If Executive dies prior to the earlier of (1) Normal Retirement Date, or (2) termination of employment with the Corporation, then no benefits shall be payable pursuant to this Agreement.
