Common use of DEATH BENEFIT PRIOR TO RETIREMENT Clause in Contracts

DEATH BENEFIT PRIOR TO RETIREMENT. In the event the Executive should die at any time after the Effective Date of this Agreement, the Executive shall become one hundred percent (100%) vested in the value of the Executive’s Accrued Liability Retirement Account. The benefit shall be payable in a lump sum to the Executive’s Beneficiary within sixty (60) days of the Executive’s death.

DEATH BENEFIT PRIOR TO RETIREMENT. In the event the Executive should die while actively employed by the Company at any time after the Effective Date date of this AgreementAgreement but prior to the Executive’s Separation from Service, and prior to any determination of Disability (as provided in Paragraph X) the Executive shall become one hundred percent (100%) vested in Company will pay an amount equal to the value accrued balance on the date of death of the Executive’s Accrued Liability Retirement Account. The benefit shall be payable accrued liability retirement account in a lump sum to the Executive’s Beneficiary within sixty (60) days Beneficiary. Said payment due hereunder shall be made the first day of the second month following the Executive’s death.