Common use of Survivor’s Benefit Clause in Contracts

Survivor’s Benefit. (a) If Executive dies prior to a Separation from Service, Executive’s Beneficiary shall be entitled to the Account Balance, which became 100% vested upon the Executive's death, payable in a single lump sum on the Benefit Eligibility Date specified in Section 1.6(b). (b) If Executive dies following a Separation from Service but prior to the payment of the Account Balance, Executive’s Beneficiary shall be entitled to the Account Balance payable in a single lump sum on the Benefit Eligibility Date specified in Section 1.6(b).

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement (Standard AVB Financial Corp.), Supplemental Executive Retirement Agreement (Berkshire Hills Bancorp Inc)

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Survivor’s Benefit. (a) If Executive dies prior to a Separation from Service, Executive’s Beneficiary shall be entitled to the Account Balance, which became 100% vested upon the Executive's ’s death, payable in a single lump sum on on, or within five (5) business days following the Benefit Eligibility Date specified in Section 1.6(b). (b) If Executive dies following a Separation from Service but prior to the payment of the Account Balance, Executive’s Beneficiary shall be entitled to the Account Balance payable in a single lump sum on on, or within five (5) business days following the Benefit Eligibility Date specified in Section 1.6(b).

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Berkshire Hills Bancorp Inc)

Survivor’s Benefit. (a) If Executive dies prior to a Separation from Service, Executive’s Beneficiary shall be entitled to the accrued and then unpaid Account Balance, which became 100% vested upon the Executive's death, payable in a single lump sum on the Benefit Eligibility Date specified in Section 1.6(b). (b) If Executive dies following a Separation from Service but prior to the payment of the entire Vested Account Balance, Executive’s Beneficiary shall be entitled to the accrued and then unpaid Account Balance payable in a single lump sum on the Benefit Eligibility Date specified in Section 1.6(b).

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Standard AVB Financial Corp.)

Survivor’s Benefit. (a) If Executive dies prior to a Separation from Service, Executive’s Beneficiary shall be entitled to the Account Balance, which became 100% vested upon the Executive's death, payable in a single lump sum on on, or within five (5) business days following, the Benefit Eligibility Date specified in Section 1.6(b). (b) If Executive dies following a Separation from Service but prior to the payment of the Account Balance, Executive’s Beneficiary shall be entitled to the Account Balance payable in a single lump sum on on, or within five (5) business days following, the Benefit Eligibility Date specified in Section 1.6(b).

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Berkshire Hills Bancorp Inc)

Survivor’s Benefit. (a) If Executive dies prior to a Separation from Service, Executive’s Beneficiary shall be entitled to the accrued and then unpaid Account Balance, which became 100% vested upon the Executive's ’s death, payable in a single lump sum on the Benefit Eligibility Date specified in Section 1.6(b). (b) If Executive dies following a Separation from Service but prior to the payment of the entire Vested Account Balance, Executive’s Beneficiary shall be entitled to the accrued and then unpaid Account Balance payable in a single lump sum on the Benefit Eligibility Date specified in Section 1.6(b).

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Standard AVB Financial Corp.)

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Survivor’s Benefit. (a) If Executive dies prior to a Separation from Service, Executive’s Beneficiary shall be entitled to the Account Balance, which became 100% vested upon the Executive's ’s death, payable in a single lump sum on the Benefit Eligibility Date specified in Section 1.6(b). (b) If Executive dies following a Separation from Service but prior to the payment of the Account Balance, Executive’s Beneficiary shall be entitled to the Account Balance payable in a single lump sum on the Benefit Eligibility Date specified in Section 1.6(b).

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Standard AVB Financial Corp.)

Survivor’s Benefit. (a) If Executive dies prior to a Separation from Service, Executive’s Beneficiary shall be entitled to the Account Balance, which became 100% vested upon the Executive's ’s death, payable in a single lump sum on on, or within five (5) business days following, the Benefit Eligibility Date specified in Section 1.6(b). (b) If Executive dies following a Separation from Service but prior to the payment of the Account Balance, Executive’s Beneficiary shall be entitled to the Account Balance payable in a single lump sum on on, or within five (5) business days following, the Benefit Eligibility Date specified in Section 1.6(b).

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Berkshire Hills Bancorp Inc)

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