Payments Upon Death. In the event payments are due and owing under this Agreement at the death of the Executive, payment shall be made to such beneficiary as the Executive may designate in writing, or failing such designation, to the executor of his estate, in full settlement and satisfaction of all claims and demands on behalf of the Executive.
Payments Upon Death. In the event of the death of Employee, Employer shall nonetheless pay to the estate of Employee, or in such other manner as Employee may designate in writing to Employer, all sums which would otherwise have been paid to Employee under this Paragraph 9 for the balance of the term of this Agreement. For purposes of funding this obligation to make payments upon Employee's death, Employer may purchase and hold such life insurance policies on the life of Employee as may be appropriate; provided, however, that if the total funds available to Employer under the terms of such life insurance policies exceed the amount which would otherwise be payable to Employee by Employer under the terms of this Paragraph 9, Employer's payment obligation under this Paragraph 9 shall be increased to the total amount received by Employer under such insurance policies.
Payments Upon Death. If at any time while he is employed hereunder the Employee shall die, in addition to all other benefits to which he or his personal representatives may be entitled, the Bank shall pay to his designated beneficiary or, if no such beneficiary exists, to his estate, for a period of three (3) months following the Employee’s death, such amounts of base annual salary as the Employee would have been entitled to receive during said period (and at the times he would have been entitled to receive them) had he remained alive.
Payments Upon Death. If Executive's employment hereunder is separated by reason of Death during his active employment, the Company shall pay to Executive's estate his Base Salary and accrued PTO through the Separation Date at the rate in effect on the Separation Date and a pro rata bonus for current year based on performance of the Company, paid in the following year when bonuses are normally distributed. His estate and beneficiary(ies) will receive the benefits to which they are entitled under the terms of the applicable benefit plans and programs by reason of a participant's death during active employment. If Executive dies during the Salary Continuation Period, as defined below, the remaining Salary Continuation will be paid in a lump sum to Executive's estate and his estate and/or beneficiary(ies) will receive the benefits applicable to an employee who dies during employment.
Payments Upon Death. In the event of death of the Executive during the term of this Agreement, in addition to any applicable insurance payable as Executive has designated, the Company shall pay Executive’s estate all salary due as of his death, together with a final payment in an amount equal to twelve (12) months of base salary at the rate in effect at the time of his death.
Payments Upon Death. If Executive’s employment is terminated by reason of Executive’s death, the Company shall pay to such person as Executive shall designate in a written notice to the Company (or, if no such person is designated, to his estate) any unpaid portion of the amounts described in Section 6(a). In addition, in the event of Executive’s death after he becomes entitled to payments pursuant to Section 6(b), any remaining unpaid amounts shall be paid, at the time and in the manner such payments otherwise would have been paid to Executive, to such person as Executive shall designate in a written notice to the Company (or, if no such person is designated, to his estate).
Payments Upon Death. This Agreement shall terminate upon the death of the Executive. Upon the Executive's death and the resulting termination of this Agreement, the Employer shall only be obligated to pay such Base Salary and vacation pay for unused vacation days as shall have accrued and remain unpaid through the date of death plus seventy-five percent (75%) of his "Maximum Cash Performance Bonus," as set forth in Exhibit A to this Agreement, for the then-current year as described in Section 3(b), such Cash Performance Bonus to be prorated through the date of death on a strict per diem basis, and the Employer shall not have any further obligations to the Executive (other than payment of any Performance Bonuses previously approved by the Compensation Committee for prior fiscal year(s) that remain unpaid, reimbursement of previously approved expenses, any amounts or rights vested pursuant to the Scheduled Benefits), and any amounts or rights vested pursuant to any "employee pension benefit plan" as such term is defined in Section 3(2)(A) of ERISA). The amount that the Employer shall be obligated to pay upon the Executive's death shall be delivered to such beneficiary, designee or fiduciary as Executive may have designated in writing or, failing such designation, to the executor or administrator of his estate, in full settlement and satisfaction of all claims and demands on behalf of the Executive. Such payments shall be in addition to such other death benefits of the Employer as shall have been made available for the benefit of the Executive, and in full settlement and satisfaction of all payments provided for in this Agreement. The Employer and the Executive agree that the Employer shall maintain, at all times during the term of this Agreement, such supplemental life insurance for the benefit of the Executive as is set forth in Section 3(c) hereof.
Payments Upon Death. If at any time while he is employed hereunder the Executive shall die, in addition to all other benefits to which he or his personal representatives may be entitled, the Company shall pay to his designated beneficiary or, if no such beneficiary exists, to his estate, for a period of three (3) months following the Executive's death, such amounts of base annual salary as the Executive would have been entitled to receive during said period (and at the times he would have been entitled to receive them) had he remained alive.
Payments Upon Death. If Employee’s employment is terminated by reason of Employee’s death, the Company shall pay to such person as Employee shall designate in a written notice to the Company (or, if no such person is designated, to his estate) any unpaid portion of the amounts described in Sections 6 or 7. In addition, in the event of Employee’s death after he becomes entitled to payments pursuant to Sections 6 or 7, any remaining unpaid amounts shall be paid, at the time and in the manner such payments otherwise would have been paid to Employee, to such person as Employee shall designate in a written notice to the Company (or, if no such person is designated, to his estate).
Payments Upon Death. Upon the death of the Executive, the Bank shall pay to the Executive’s Beneficiary an amount determined as follows:
(a) If the Executive dies after benefit payments have commenced to him under the Agreement, then the Executive’s Beneficiary shall receive the same payments that would have been made to the Executive had he survived until the last payment due to him was paid. If the Executive dies leaving more than one Beneficiary, the total payments made to the Beneficiaries shall equal, but not exceed, in the aggregate, the payments that would have been made to the Executive had he not died.
(b) If the Executive dies prior the commencement of benefit payments under this Agreement and the Beneficiary becomes entitled to a benefit under Section 3(c) of this Agreement, then the Executive’s Beneficiary shall receive the payments that would have been made to the Executive had his date of death been his Retirement Date and had he survived until the last payment due to him was paid. If the Executive dies leaving more than one Beneficiary, the total payments made to the Beneficiaries shall equal, but not exceed, in the aggregate, the payments that would have been made to the Executive had he not died.
