Common use of Disability Benefit - Supplemental Clause in Contracts

Disability Benefit - Supplemental. Furthermore, if (i) the Executive’s death occurs prior to attaining Benefit Age, and (ii) Board of Director approval is obtained upon the Executive’s death, the Bank shall make a direct, lump sum payment to the Executive’s Beneficiary in an amount equal to the following: the sum of all remaining Supplemental Retirement Income Benefit Contributions (or Supplemental Retirement Income Benefit Phantom Contributions) set forth in Exhibit A, but not required pursuant to Subsection 2.1(b)(5) (or 2.1(c)(5)) due to the disability-related termination. Such lump sum payment, if approved by the Board of Directors, shall be payable within thirty (30) days of such Board of Director approval.