Common use of Pre-Retirement Death Clause in Contracts

Pre-Retirement Death. The Company agrees that if the Officer dies while covered by the provisions of this Agreement and prior to commencement of Benefit payments under Article III below, the Company will pay the Officer's Beneficiary the Pre-Retirement Death Benefit. The Pre-Retirement Death Benefit shall be divided by twelve (12) and paid in monthly payments commencing on the first business day of the month following the month in which the Officer dies. The payment of such Pre-Retirement Death Benefit will be subject to the conditions and limitations set forth elsewhere in this Agreement. If the Officer's Beneficiary is entitled to receipt of the Pre-Retirement Death Benefit, the Officer's Beneficiary shall not be entitled to any other payments under this Agreement.

Pre-Retirement Death. The Company Bank agrees that if the Officer dies while covered by the provisions of this Agreement and prior to commencement of Benefit payments under Article III below, the Company Bank will pay the Officer's ’s Beneficiary the Pre-Retirement Death Benefit. The Pre-Retirement Death Benefit shall be divided by twelve (12) and paid in monthly payments commencing on the first business day of the month following the month in which the Officer dies. The payment of such Pre-Retirement Death Benefit will be subject to the conditions and limitations set forth elsewhere in this Agreement. If the Officer's ’s Beneficiary is entitled to receipt of the Pre-Retirement Death Benefit, the Officer's ’s Beneficiary shall not be entitled to any other payments under this Agreement.

Pre-Retirement Death. The Company Bank agrees that if the Officer dies while covered by the provisions of this Agreement and prior to commencement of Benefit payments under Article III below, the Company Bank will pay the Officer's Beneficiary the Pre-Retirement Death Benefit. The Pre-Retirement Death Benefit shall be divided by twelve (12) and paid in monthly payments commencing on the first business day of the month following the month in which the Officer dies. The payment of such Pre-Retirement Death Benefit will be subject to the conditions and limitations set forth elsewhere in this Agreement. If the Officer's Beneficiary is entitled to receipt of the Pre-Retirement Death Benefit, the Officer's Beneficiary shall not be entitled to any other payments under this Agreement.