Common use of Death Before Benefit Period Clause in Contracts

Death Before Benefit Period. If the Director has become entitled to benefits under this Agreement, but the Director dies before the commencement of such benefit payments, the Bank shall pay such benefits to the Director's Beneficiary at the same times and in the same amounts they would have been paid to the Director had the Director survived. This benefit shall be payable on the first day of each month commencing with the month following the Director's death. If the Director's Beneficiary dies prior to receiving all such payments, then any remaining payments shall be paid to the Beneficiary's estate.