Common use of Pre-Retirement Death Benefit Clause in Contracts

Pre-Retirement Death Benefit. 2.1 If the Termination of Employment of the Executive is on account of the Executive's death, a death benefit equal to fifty percent (50%) of the Executive's Base Annual Salary at the time of his death will be paid subject to the limitations under Article VII. This death benefit will be paid by the Company to the Beneficiary of the Executive each year for fifteen years (15) years. The amount to be paid each year will be paid in equal monthly installments beginning on the first day of the month following the date of the Executive's death and on the first day of each month thereafter. If Termination of Employment of the Executive is on account of any event other than death, no benefit will be paid by the Company under this Article II.

Pre-Retirement Death Benefit. 2.1 If the Termination of the Executive's Employment of the Executive is on account of the Executive's death, a death benefit equal to fifty percent twenty-five (5025%) of the Executive's Base Annual Salary at the time of his death will be paid subject to the limitations under Article VII. This death benefit will be paid by the Company Corporation to the Beneficiary beneficiary of the Executive each year for fifteen years (15) years. The amount to be paid each year will be paid in equal monthly installments beginning on the first day of the month following the date of the Executive's death and on the first day of each the month thereafter. If In the event the Termination of the Executive's Employment of the Executive is on account of any event other than death, no benefit will be paid by the Company Corporation under this Article II.

Pre-Retirement Death Benefit. 2.1 If the Termination of Employment of the Executive is on account of the Executive's death, a death benefit equal to fifty twenty five percent (5025%) of the Executive's Base Annual Salary at the time of his death will be paid subject to the limitations under Article VII. This death benefit will be paid by the Company to the Beneficiary of the Executive each year for fifteen years (15) years. The amount to be paid each year will be paid in equal monthly installments beginning on the first day of the month following the date of the Executive's death and on the first day of each month thereafter. If Termination of Employment of the Executive is on account of any event other than death, no benefit will be paid by the Company under this Article II.