Common use of Death Prior to Normal Retirement Age and During Payment of a Disability Benefit Clause in Contracts

Death Prior to Normal Retirement Age and During Payment of a Disability Benefit. In the event of the Executive’s death while Disabled and prior to attaining Normal Retirement Age, the Company shall cease paying the Disability Benefit described in Section 2.3 and pay to the Executive’s beneficiary the Death Benefit described in Section 3.1, less any Disability Benefit payments already paid out under Section 2.3.

Appears in 4 contracts

Samples: Salary Continuation Agreement (United Bancshares Inc/Oh), Salary Continuation Agreement (United Bancshares Inc/Oh), Employment Agreement (United Bancshares Inc/Oh)

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