Common use of Executive Dies Prior to Benefit Age Clause in Contracts

Executive Dies Prior to Benefit Age. If (i) after such termination, the Executive dies prior to attaining his Benefit Age, and (ii) the Executive has made a Timely Election to receive a lump sum benefit, this Subsection 5.1(b)(2) shall be controlling with respect to retirement benefits. Supplemental Retirement Income Benefit Contributions shall be made in accordance with Subsection 2.1(b)(4) (or 2.1(b)(3), as applicable) and Supplemental Retirement Income Benefit Phantom Contributions shall be recorded in accordance with 2.1(c)(4) (or 2.1(c)(3), as applicable). Supplement ESOP Benefit Contributions and Supplemental ESOP Benefit Phantom Contributions, as applicable, shall be made or recorded in accordance with Subsection 2.1(a)(3). The balance of the Retirement Income Trust Fund, measured as of the date of the Executive’s death, shall be paid to the Executive’s Beneficiary within thirty (30) days of the date the Administrator receives notice of the Executive’s death. The balance of the Executive’s Accrued Benefit Account (if applicable), measured as of the date of the Executive’s death, shall be paid to the Executive’s Beneficiary within thirty (30) days of the date the Administrator receives notice of the Executive’s death.