Post-Retirement Death Benefit. Upon the death of the Director after Termination of Service and while receiving a benefit under the Director Retirement Agreement, the split dollar death benefit under this Agreement is the accrued liability on the books of the Company, which amount should equal the present value of the remaining benefit to be paid under the Director Retirement Agreement. In the event that a benefit was paid in full and no liability remains on the books of the Company or if the Director was not eligible for a benefit under the Director Retirement Agreement, no death benefit is due to the Director under this section 2.2(b).
Post-Retirement Death Benefit. If Employee dies after his Retirement Date, the Employee's estate (or his designated beneficiary) shall be entitled to receive the remaining unpaid vested portion of the Retirement Benefit. The remaining Retirement Benefit shall be paid to the Employee's estate (or his Designated Beneficiary) on the same basis as it was being paid to the Employee as of Employee's
Post-Retirement Death Benefit. The Participant’s annual SERP Benefit shall be payable for a minimum period of fifteen (15) years. In the event that the Participant dies during the minimum fifteen (15) year SERP Benefit payment period, the Participant’s Beneficiary, as designated pursuant to this Participation Agreement, will continue to receive such payments until the minimum benefits are fully paid.
Post-Retirement Death Benefit. Participant’s SERP Benefit shall be payable for fifteen (15) years. In the event that the Participant dies during the fifteen (15) year SERP Benefit distribution period, your Beneficiary, as designated pursuant to this Participation Agreement, will continue to receive the balance of the remaining SERP Benefit distributions, up to and including, the distribution in year fifteen (15). All SERP Benefit distributions shall cease after the 180th distribution.
Post-Retirement Death Benefit. In the event the Officer dies on or after commencement of Benefit payments under this Article III, the Officer's remaining Benefit payments shall continue to be paid to the Officer's Beneficiary.
Post-Retirement Death Benefit. If the Executive was no longer employed by the Bank at the time of death but had terminated employment • due to Disability, • involuntarily within two years after Change in Control, or in the event the Executive had terminated employment voluntarily for Good Reason within two years of such Change in Control, or • on or after Normal Retirement Age, the death benefit shall be $250,000.
Post-Retirement Death Benefit. Participant’s SERP Benefit shall be payable for ten (10) years. In the event that the Participant dies during the ten (10) year SERP Benefit distribution period, Participant’s Beneficiary, as designated pursuant to this Participation Agreement, will receive the present value of the remaining SERP Benefit distributions in a lump sum. For purposes of this Participation Agreement, the present value of the remaining SERP Benefit shall be calculated based on the discount rate found in Code Section 1274, in effect at the time of Participant’s death; discounted back from the Participant’s Normal Retirement Age. Such distribution under this subsection shall occur as soon as administratively feasible following Participant’s death, but no later than ninety (90) days, following such death.
Post-Retirement Death Benefit. Unless Employee has elected a Joint and Survivor Annuity pursuant to subsection (d) below, in the event Employee should die after his Salary Continuation Payments have commenced, but before 120 payments have been made to or for his benefit, then the unpaid balance of such 120 payments shall continue to be paid by the Company to Employee's Beneficiary. If Employee's Beneficiary dies before a total of 120 monthly payments have been made to Employee and his Beneficiary, then the unpaid balance of such 120 payments shall continue to be paid by the Company to Employee's estate.
Post-Retirement Death Benefit. Upon the death of the Officer, if there is a balance in the accrued liability retirement account, such balance shall be paid in one (1) lump sum to the Beneficiary. Said payment due hereunder shall be made the first day of the second month following the Officer’s death.
Post-Retirement Death Benefit. In the event Employee should die after his Early Retirement Payments have commenced, but before 120 payments have been made to or for his benefit, then the unpaid balance of such 120 payments shall continue to be paid by the Company to Employee's Beneficiary.
