Payments in the Event of Death Prior to Retirement. In the event the Executive should die while actively employed by the Employer at any time after the Effective Date of this Agreement, but prior to Retirement, the Employer agrees to pay the Annual Benefit with the Applicable Percentage equal to 100% for a period of fifteen (15) years in one hundred eighty (180) equal monthly installments, with each installment to be paid on the first of each month beginning with the month following the Executive's death, to the Executive's designated beneficiary. If a valid Beneficiary Designation is not in effect, then the amounts due to the Executive under the terms of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.
Payments in the Event of Death Prior to Retirement. In the event the Executive should die while actively employed by the Employer at any time after the Effective Date of this Agreement, but prior to attaining sixty-two (62) years of age or if the Executive chooses to work after attaining sixty-two (62) years of age, but dies before Retirement, the Employer agrees to pay the Annual Benefit to the Executive's designated beneficiary, in equal monthly installments, for a period of fifteen (15) years (One Hundred Eighty (180) months). If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the term of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate. Each installment shall be paid on the first day of each month, beginning with the month following the month in which the Executive's death occurs.
Payments in the Event of Death Prior to Retirement. If the Executive dies at any time after the Effective Date of this Agreement, but prior to Retirement, the Employer agrees to pay the Applicable Percentage of the Executive Benefits to the Executive's designated beneficiary in lump sum. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the Executive's Surviving Spouse. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.
Payments in the Event of Death Prior to Retirement. If the Director dies at any time after the Effective Date of this Agreement, but prior to Retirement, the Bank agrees to pay the Applicable Percentage of the Director Benefits to the Director's designated beneficiary in lump sum. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Director under the terms of this Agreement shall be paid to the Director's Surviving Spouse. If the Director leaves no Surviving Spouse, the remaining amounts due to the Director under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Director's estate.
Payments in the Event of Death Prior to Retirement. In the event the Executive should die while actively employed by the Employer at any time after the Effective Date of this Agreement, but prior to attaining sixty (60) years of age or if the Executive chooses to work after attaining Sixty (60) years of age, but dies before Retirement, the Employer agrees to pay the Annual Benefit for a period of fifteen (15) years in One Hundred Eighty (180) equal monthly installments, with each installment to be paid on the first of each month beginning with the month following Executive's death, to the Executive's designated beneficiary with the Applicable Percentage determined by the applicable years of service, including years of service with Employer prior to execution of this Agreement, at the time of death, as set forth on Schedule "A". If a valid Beneficiary Designation is not in effect, then the amounts due to the Executive under the terms of this Agreement shall be paid to the Executive's Surviving Spouse as set forth above. If the Executive leaves no Surviving Spouse, the amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate as set forth above.
Payments in the Event of Death Prior to Retirement. If the Employee -------------------------------------------------- dies while actively employed by the Employer at any time after the Effective Date of this Agreement, but prior to Retirement, the Employer agrees to pay the Employee Benefits to which the Employee is then entitled to the Employee's designated beneficiary in lump sum. If a valid Beneficiary Designation is not in effect, then the remaining amounts due to the Employee under the terms of this Agreement shall be paid to the Employee's Surviving Spouse. If the Employee leaves no Surviving Spouse, the remaining amounts due to the Employee under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Employee's estate.
Payments in the Event of Death Prior to Retirement. In the event the Officer should die while actively employed by the Employer at any time after the Effective Date, but prior to Retirement, the Employer agrees to pay the Accrued Liability to the Officer's Designated Beneficiary in a lump sum on the first day of the second month following the month of death. If a valid Beneficiary Designation is not in effect, then the amount due pursuant to this Section 4.1 shall be paid to the Officer's Surviving Spouse. If the Officer leaves no Surviving Spouse, the amount due pursuant to this Section 4.1 shall be paid to the duly qualified personal representative, executor or administrator of the Officer's estate.
Payments in the Event of Death Prior to Retirement. In the event of Executive’s death prior to Retirement, no death benefit shall be provided under this Agreement.
Payments in the Event of Death Prior to Retirement. In the event the Executive should die while actively employed by the Employer at any time after the Effective Date of this Agreement, but prior to attaining sixty (60) years of age or if the Executive chooses to work after attaining sixty (60) years of age, but dies before Retirement, the Employer agrees to pay the Annual Benefit to the Executive's designated beneficiary for a period of fifteen (15) years, with each Annual Benefit amount to be paid in twelve (12) equal monthly installments (paid on the first day of each month), beginning with the month following the month in which the Executive's death occurs. If a valid Beneficiary designation is not in effect, then the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the Executive's Surviving Spouse in the same manner. If the Executive leaves no Surviving Spouse, the remaining amounts due to the Executive under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Executive's estate.
Payments in the Event of Death Prior to Retirement. (a) The Bank agrees that if the Director shall die before Retirement and provided that the Surrogate is alive at the date of the Director’s death, the Bank will pay to the Director’s designated beneficiary the balance, if any, of the Benefit Account and up to fifteen (15) Index Benefit installment payments in the amounts which would otherwise be paid to the Director if alive following Retirement. Upon the death of the Surrogate, such installment payments shall cease whether or not any unpaid, portion of such fifteen (15) installment payments shall remain unpaid.
(b) If a valid Beneficiary Designation is not in effect, then all payments described above in subparagraph 4.1(a) shall be paid to the Director’s Surviving Spouse. If the Director leaves no Surviving Spouse, the remaining amounts due to the Director under the terms of this Agreement shall be paid to the duly qualified personal representative, executor or administrator of the Director’s estate.
