Common use of Pre-Retirement Death Benefit Clause in Contracts

Pre-Retirement Death Benefit. If the Participant was employed by the Company at the time of death, the death benefit shall be Two Times Base Annual Salary in effect at the his or her date of death, less $50,000 (from the Company’s existing group term plan), capped at a maximum of $470,000 (Four Hundred Seventy Thousand Dollars).

Pre-Retirement Death Benefit. If the Participant was employed by the Company at the time of death, the death benefit shall be Two Times the lesser of (i) two times the Participant's Base Annual Salary in effect at the his or her date of deathSalary, less the Participant's $50,000 (from group term life insurance benefit under the Company’s existing 's group term plan), capped at a maximum of life insurance policy; or (ii) $470,000 (Four Hundred Seventy Thousand Dollars)1 million.

Pre-Retirement Death Benefit. If the Participant was employed by the Company Bank at the time of death, the death benefit shall be Two Times the lesser of (1) two times the Participant’s current Base Annual Salary Salary; or (2) $1,000,000, in effect at the his or her date of deatheither case, less the participant’s $50,000 (from the Company’s existing group term plan), capped at a maximum of $470,000 (Four Hundred Seventy Thousand Dollars)life insurance benefit under the Bank’s group term life insurance policy.

Pre-Retirement Death Benefit. If the Insured/Participant was employed by the Company at the time of death, the death benefit shall be Two Times the lesser of: (i) two times the Participant's Base Annual Salary (defined in effect at the his or her date of deathMonroe Bank & Trust Group Term Carve Out Plan dated December 20, 2001 (the "Plan"), less $50,000 50,000; or (from the Company’s existing group term plan), capped at a maximum of ii) $470,000 (Four Hundred Seventy Thousand Dollars)1 million.

Pre-Retirement Death Benefit. If the Participant was employed by the Company Bank at the time of death, the death benefit shall be Two Times the lesser of : (i) two times the Participant's Base Annual Salary in effect at the his or her date of deathSalary, less the Participant's $50,000 (from the Company’s existing group term plan), capped at a maximum of life insurance benefit under the Bank's group term life insurance policy; or (ii) $470,000 (Four Hundred Seventy Thousand Dollars)500,000.