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

Death Subsequent to Commencement of Benefit Payments. If the Executive dies after benefit distributions have begun and the Executive has received less than one hundred eighty (180) monthly benefit installments, the Beneficiary shall continue to receive the same amounts the Executive would have received at the same times the Executive would have received them until the sum of the number of installments to the Beneficiary and the Executive totals one hundred eighty (180).

Appears in 5 contracts

Samples: Salary Continuation Agreement (Eagle Bancorp Montana, Inc.), Salary Continuation Agreement (Eagle Bancorp Montana, Inc.), Salary Continuation Agreement (Eagle Bancorp Montana, Inc.)

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Death Subsequent to Commencement of Benefit Payments. If In the event the Executive dies after any benefit distributions have begun and the Executive has received less than one hundred eighty commenced under this Agreement but before receiving fifteen (18015) monthly benefit installmentsyears of such distributions, the Beneficiary shall continue to receive the same amounts the Executive would have received and at the same times the Executive would have received them time until the sum of the number of monthly installments to the Beneficiary and the Executive totals equals one hundred eighty (180). If the Executive has already received fifteen (15) or more years of distributions, then distributions hereunder shall cease.

Appears in 2 contracts

Samples: Salary Continuation Agreement (National Bankshares Inc), Salary Continuation Agreement (National Bankshares Inc)

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