Death Prior to Commencement of Benefit Payments. In the event the Participant should die while actively employed by the Plan Sponsor at any time after the date of this Plan but prior to his Normal Retirement Age, the Plan Sponsor will pay the Accrued Benefit in fifteen (15) equal annual installments to the Participant's Beneficiary. The payments shall commence to be paid on the first day of the second month following the month in which the Participant dies.
Death Prior to Commencement of Benefit Payments. In the event the Executive dies prior to Separation from Service, the Employer shall pay the Beneficiary the Death benefit amount shown on Schedule A for the Plan Year ending immediately prior to the Executive’s death in lieu of any other benefit hereunder. The benefit will be paid in a lump sum within sixty (60) days following the Executive’s death, with the precise payment date determined by the Employer in its sole discretion.
Death Prior to Commencement of Benefit Payments. In the event the Executive dies prior to Separation from Service and Disability, the Employer shall pay the Beneficiary an annual benefit in the amount of Forty-Two Thousand Dollars ($42,000) in lieu of any other benefit hereunder. The annual benefit shall be paid in equal monthly installments commencing on the first day of the month following the Executive’s death and continuing for ten (10) years.
Death Prior to Commencement of Benefit Payments. If the Director dies prior to the commencement of benefit payments, the Company shall pay to the Director's beneficiary the benefit described in this Section 5.1 in lieu of any other benefit under this Agreement.
Death Prior to Commencement of Benefit Payments. If the Executive dies prior to the commencement of benefit payments under Article 2 of this Agreement, the Bank shall pay to the Executive’s designated beneficiary the benefit described in this Section 3.1 in lieu of any other benefits under this Agreement. The amount of the death benefit is one hundred (100) percent of the accrued liability balance of the Normal Retirement Benefit reflected on the financial statements of the Bank under GAAP on the date of the Executive’s death. The death benefit shall be payable to the Executive’s beneficiary in ten (10) equal annual installments with the first installment payable in the month following the month of the Executive’s death and thereafter on the annual anniversary of such payment commencement date.
Death Prior to Commencement of Benefit Payments. If the Executive dies prior to Separation from Service and Normal Retirement Age, the Bank shall distribute to the Beneficiary the benefit described in this Section 2.5. This benefit shall be distributed in lieu of any other benefit under this Article.
Death Prior to Commencement of Benefit Payments. In the event the Participant should die while actively employed by the Plan Sponsor at any time after the date of this Plan but prior to the Participant’s Normal Retirement Age, the Participant shall be entitled to the benefit amount shown on Schedule A under the column labeled "Early Termination Annual Benefit" for the Plan Year in which the Participant's death occurs, multiplied by fifteen (15) (the "Death Benefit"). The Death Benefit shall be paid in one hundred eighty (180) equal monthly installments to the Participant's Beneficiary, and shall commence to be paid on the first day of the second month following the month in which the Participant dies.
Death Prior to Commencement of Benefit Payments. In the event the Executive dies prior to any benefit payments pursuant to Section 4.1, 4.2, 4.3 or 4.4 of this Agreement, the Employer shall pay the Beneficiary the Deferral Account balance calculated as of the date of the Executive’s death, in lieu of any other benefit hereunder. This benefit shall be paid commencing the date indicated, and on the schedule elected, by the Executive on the various Benefit Payment Election Forms completed by the Executive.
Death Prior to Commencement of Benefit Payments. In the event the Executive dies prior to Separation from Service, Disability and Change in Control the Employer shall pay the Beneficiary an annual benefit in the amount of Forty-Eight Thousand Dollars ($48,000) in lieu of any other benefit hereunder. If the Executive’s death occurs after Normal Retirement Age, for each full month between Normal Retirement Age and the Executive’s death, up to a maximum of twenty-four (24) months, the Bank shall increase this annual benefit by ..3274%. If the Executive’s death occurs after the Executive has reached age sixty-seven (67) the annual benefit shall be Fifty-One Thousand Nine Hundred Seventeen Dollars ($51,917). The annual benefit will be paid for fifteen (15) years in equal monthly installments commencing the month following the Executive’s death.
Death Prior to Commencement of Benefit Payments. In the event the Director dies prior to Separation from Service, the Bank shall pay the Beneficiary a benefit of One Hundred Twenty Thousand Dollars ($120,000) in lieu of any other benefit hereunder. The benefit will be paid in a lump sum within ninety (90) days following the Director’s death.
