Payment of Normal Retirement Benefits or Early Retirement Benefits in the Event of Death Sample Clauses

Payment of Normal Retirement Benefits or Early Retirement Benefits in the Event of Death. If Executive dies having vested Normal Retirement Benefits or Early Retirement Benefits, whether or not any such Normal Retirement Benefits or Early Retirement Benefits have been paid at the date of death, payment of the vested Normal Retirement Benefits or Early Retirement Benefits, based on his age at the date of his death, shall be paid over ten (10) years, commencing as of the first of the month following the month in which death occurs if death occurs during employment, or continued for the balance of the ten-year term in process if vested Normal Retirement Benefits or Early Retirement Benefits are being currently paid at death, as the case may be, to the Executive’s designated beneficiary or beneficiaries or in default of such designation to the Executive’s estate. (For the avoidance of doubt, if Executive dies before attaining age 55, the amounts payable under this paragraph shall be determined as if Executive were age 55 on the date of death.)
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Payment of Normal Retirement Benefits or Early Retirement Benefits in the Event of Death. If Executive dies having vested Normal Retirement Benefits or Early Retirement Benefits, whether or not any such Normal Retirement Benefits or Early Retirement Benefits have been paid at the date of death, payment of the vested Normal Retirement Benefits or Early Retirement Benefits shall be paid over ten years, commencing as of the first of the month following the month in which death occurs if death occurs during employment, or continued for the balance of the ten-year term in process if vested Normal Retirement Benefits or Early Retirement Benefits are being currently paid at death, as the case may be, to the Executive’s designated beneficiary or beneficiaries or in default of such designation to the Executive’s estate.
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Related to Payment of Normal Retirement Benefits or Early Retirement Benefits in the Event of Death

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

  • Supplemental Retirement Benefit In addition to the foregoing, Executive shall be eligible to participate in the Supplemental Executive Retirement Plan maintained by Cleco Utility Group Inc. or such other supplemental retirement benefit plans which the Company or its Affiliates may adopt, from time to time, for similarly situated executives (the "Supplemental Plan").

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

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