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.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Oak Valley Bancorp), Salary Continuation Agreement (Oak Valley Bancorp), Salary Continuation Agreement (Oak Valley Bancorp)
Death Prior to Termination of Employment. In the event If the Executive dies prior while employed by the Corporation, a monthly amount equal to Termination the Projected Normal Retirement Benefit shall be payable to the Executive's designated beneficiary for a period of Employment, 90 months commencing as of the Company shall pay first day of 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 first month next following the Executive’s 's death, with the precise payment date determined by the Employer in its sole discretion.
Appears in 1 contract
Samples: Supplemental Executive Retirement Benefits Agreement (Anchor Holdings Inc)
