Common use of Payments in the Event of Death Clause in Contracts

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 the Executive dies before he actually Retires, the Executive’s 's Annual Benefit shall be reduced by determining the discounted value of the Annual Benefit based on a capitalization rate of five percent (5%) for the period of time, if any, by which the date of the Executive’s 's death is earlier than the Executive’s 's normal Retirement Date. The Applicable Percentage shall be one hundred percent (100%) and annual payments of seventysixty-five percent (7565%) 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 's Retirement Date, with each installment to be paid on the first day of each month, commencing with the month following the Executive’s 's death. Each installment shall consist of one-twelfth (1/12) of the Applicable Percentage of seventysixty-five percent (7565%) of the Annual Benefit, as actuarially adjusted in accordance with section 1.10.

Payments in the Event of Death. If the Executive dies before he actually Retires, the Executive’s 's Annual Benefit shall be reduced by determining the discounted value of the Annual Benefit based on a capitalization rate of five percent (54%) for the period of time, if any, by which the date of the Executive’s 's death is earlier than the Executive’s 's normal Retirement Date. The Applicable Percentage shall be one hundred percent (100%) and annual payments of seventy-five percent (75%) 100% 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 (i) the death of the Surviving Spouse or (ii) the expiration of five twelve (512) years from the Executive’s 's Retirement Date, with each installment to be paid on the first day of each month, commencing with the month following the Executive’s '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 Section 1.10.

Payments in the Event of Death. If the Executive dies before he actually Retires, the Executive’s 's Annual Benefit shall be reduced by determining the discounted value of the Annual Benefit based on a capitalization rate of five percent (5%) for the period of time, if any, by which the date of the Executive’s 's death is earlier than the Executive’s 's normal Retirement Date. The Applicable Percentage shall be one hundred percent (100%) and annual payments of seventy-five percent (75%) 100% 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 (i) the death of the Surviving Spouse or (ii) the expiration of five twelve (512) years from the Executive’s 's Retirement Date, with each installment to be paid on the first day of each month, commencing with the month following the Executive’s '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 Section 1.10.