Pre-Termination of Employment Survivor Income Benefit. If the Employee dies in active service to the Bank, the Bank shall pay to the Employee's designated beneficiary(ies) a survivor income benefit of $100,000.00. The survivor income benefit shall be paid in a single lump sum within 90 days after submission of proof of a claim substantiating the Employee's death.
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Samples: Executive Survivor Income Agreement (Quaint Oak Bancorp Inc), Executive Survivor Income Agreement (Quaint Oak Bancorp Inc), Employee Survivor Income Agreement (Quaint Oak Bancorp Inc)
Pre-Termination of Employment Survivor Income Benefit. If the Employee dies in active service to the Bank, the Bank shall pay to the Employee's designated beneficiary(ies) beneficiary a survivor income benefit of $100,000.00$ , provided the Employee's death occurs before reaching age 85. The survivor income benefit shall be paid in a single lump sum within 90 days after submission of proof of a claim substantiating the Employee's death.
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