Payments in the Event of Death. If the Executive dies before he actually Retires, the Executive’s Annual Benefit shall be reduced by determining the discounted value of the Annual Benefit based on a capitalization rate of five (5%) for the period of time, if any, by which the date of the Executive’s death is earlier than the Executive’s normal Retirement Date. The Applicable Percentage shall be one hundred percent (100%) and annual payments of seventy-five percent (75%) of the Annual Benefit, as adjusted herein, shall be made to the Surviving Spouse or Beneficiary, as the case may be, until the later of the death of the Surviving Spouse or the expiration of five (5) years from the Executive’s Retirement Date, with each installment to be paid on the first day of each month, commencing with the month following the Executive’s death. Each installment shall consist of one-twelfth (1/12) of the Applicable Percentage of seventy-five percent (75%) of the Annual Benefit, as actuarially adjusted in accordance with section 1.10.
Payments in the Event of Death. If Xx. Xxxxxxxxxxx should die at any time prior to the end of the Term, all payments for consulting services provided or reimbursement for expenses that have not been paid will be paid by the Company to Xx. Xxxxxxxxxxx’x estate or surviving spouse. All obligations contained in Section 3 shall terminate in the event of Xx. Xxxxxxxxxxx’x death.
Payments in the Event of Death. All payments made to you under this Agreement shall be paid to your spouse in the event that you become deceased before all such payments have been made to you, or to your children in the event both you and your spouse are deceased before all such payments have been made.
Payments in the Event of Death. In the event that Executive dies, any monies that are due and owing to Executive as of the date of her death shall be paid to her estate (including under Section 8 for any death occurring after a termination of employment, provided that Executive’s estate enters into a release of claims if Executive had not done so prior to her death).
Payments in the Event of Death. In the event the Executive shall die before or after payments have commenced under subsections (b) or (c) of this Section 2, or under Section 5, then any such payments which are due and payable hereunder shall be paid, at the same time and in the same manner as they would have been paid to the Executive if the Executive were then living, to the living trust established by the Executive or to the surviving spouse of the Executive (as determined under the law of the Executive's state of residence at the time of Executive's death), and if there is no living trust or spouse surviving Executive at the time of death, then to the estate of the Executive.
Payments in the Event of Death. Upon the death of the Employee, the Employee's Base Salary, prorated to the date of his death, and such bonuses allocable to the annual period prior to the date of death, when and in such amounts as declared by the Board of Directors of the Employer, shall be paid to his named beneficiary, or if there be none then living, to the Employee's estate.
Payments in the Event of Death. In the event Lane dies prior to the payment of any amounts or receipt of any benefits due and payable under the terms of this Agreement, any unpaid amounts and/or benefits shall be paid to Lane's estate.
Payments in the Event of Death. (a) In the event of your death prior to the Termination Date, the Company will pay your estate an amount equal to three times your base annual salary in effect on the date of your death, subject to all legally required withholdings. This sum shall be paid in a lump sum within sixty (60) days of the date of your death.
(b) In the event of your death after the Termination Date but during the Consultancy Period, the Company will pay your estate an amount equal to the Retainer Fees that would have been paid to you during the remainder of the Consultancy Period. The Company shall pay this amount in a lump sum within sixty (60) days of the date of your death.
Payments in the Event of Death. (a) If the Employee dies while still employed by the Bank but prior to the expiration of the Participation Period, the Bank will pay to the Employee's Designated Beneficiary as provided under subsection 4(c) hereof the Deferred Compensation provided
(b) If the Employee dies on or after the expiration of the Participation Period but prior to the receipt of all or any part of the Deferred Compensation due hereunder, the Bank shall, within 30 days after the Employee's death, pay or continue to pay, as the case may be, to the Designated Beneficiary the balance of the Deferred Compensation to which the Employee would have otherwise been entitled hereunder had the Employee survived.
(c) The Employee may, from time to time, designate any person or persons (who may be designated contingently or successively) (the "Designated Beneficiary") to whom payments are to be made if the Employee dies before receiving payment of all amounts due hereunder, by signing a form approved by the Bank. A beneficiary designation form will be effective only after the signed form is filed with the Bank's Personnel Department while the Employee is alive and will cancel all beneficiary designation forms signed and filed earlier with that Department. If the Employee fails to designate a Designated Beneficiary as provided above, or if all Designated Beneficiaries of the Employee die before the Employee or before the complete payment of all amounts due hereunder, the Bank will pay the unpaid amounts to the legal representative or representatives of the estate of the last to die of the Employee and the Designated Beneficiary (or Beneficiaries).
Payments in the Event of Death. If Executive dies before payment of his Units, then such Units shall be distributed to his Beneficiary (as described below), as soon as practicable after his death, in the manner provided in 4(a). The Executive's "Beneficiary" is the person or persons the Executive designates, which designation shall be in writing, signed by the Executive and filed with the Committee prior to the Executive's death. A Beneficiary designation shall be effective when filed with the Committee in accordance with the preceding sentence. If more than one Beneficiary has been designated, the payment for the Units shall be distributed to each such Beneficiary per capita (with cash distributed in lieu of any fractional share of Stock). In the absence of a Beneficiary designation or if no Beneficiary survives the Executive, the Beneficiary shall be the Executive's estate. 6.
