Common use of Recovery of Estate Taxes Clause in Contracts

Recovery of Estate Taxes. If the Executive's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Executive Supplemental Retirement Income Agreement, and if the Beneficiary is other than the Executive's estate, then the Executive's estate shall be entitled to recover from the Beneficiary receiving such benefit under the terms of the Supplemental Retirement Income Benefit an amount by which the total estate tax due by Executive's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event any Beneficiary has a liability hereunder, such Beneficiary may petition the Bank for a lump sum payment in an amount not to exceed the Beneficiary's liability hereunder.

Recovery of Estate Taxes. If the ExecutiveDirector's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Executive Supplemental Retirement Income Deferred Compensation Agreement, and if the Beneficiary is other than the ExecutiveDirector's estateEstate, then the ExecutiveDirector's estate Estate shall be entitled to recover from the Beneficiary receiving such benefit under the terms of the Supplemental Retirement Income Survivor's Benefit an amount by which (x) the total estate tax due by ExecutiveDirector's estate, exceeds (y) the total estate tax which would have been payable if the value of such benefit had not been included in the ExecutiveDirector's gross estateEstate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person in proportion to the benefits received by each such person. In the event any Beneficiary has a liability hereunder, such Beneficiary may petition the Bank for a lump sum payment in an amount not to exceed the Beneficiary's liability hereunder.

Recovery of Estate Taxes. If the ExecutiveEmployee's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Executive Supplemental Retirement Income Agreement, and if the Beneficiary is other than the ExecutiveEmployee's estate, then the ExecutiveEmployee's estate shall be entitled to recover from the Beneficiary receiving such benefit under the terms of the Supplemental Retirement Income Benefit this Agreement an amount by which the total estate tax due by Executivethe Employee's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the ExecutiveEmployee's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event any the Beneficiary has a liability hereunder, such the Beneficiary may petition the Bank for a lump sum payment in an amount not to exceed the Beneficiary's liability hereunder.

Recovery of Estate Taxes. If the Executive's Employee’s gross estate estate, for federal estate tax purposes purposes, includes any amount determined by reference to and on account of this Executive Supplemental Retirement Income Agreement, and if the Beneficiary is other than the Executive's Employee’s estate, then the Executive's Employee’s estate shall be entitled to recover from the Beneficiary receiving such benefit under the terms of the Supplemental Retirement Income Benefit this Agreement an amount by which the total estate tax due by Executive's the Employee’s estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's Employee’s gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event any the Beneficiary has a liability hereunder, such the Beneficiary may petition the Bank for a lump sum payment in an amount not to exceed the Beneficiary's ’s liability hereunder.

Recovery of Estate Taxes. If the Executive's ’s gross estate Estate for federal estate tax purposes includes any amount determined by reference to and on account of this Executive Supplemental Retirement Income Agreement, and if the Beneficiary is other than the Executive's estate’s Estate, then the Executive's estate ’s Estate shall be entitled to recover from the Beneficiary receiving such benefit under the terms of the Supplemental Retirement Income Deferred Compensation Benefit an amount by which the total estate tax due by the Executive's estate’s Estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's ’s gross estateEstate. If there is more than one on person receiving such benefit, the right of recovery shall be against each such person in proportion to the benefits received by each such person. In the event any Beneficiary has a liability hereunder, such Beneficiary may petition the Bank for a lump sum payment in an amount not to exceed the Beneficiary's ’s liability hereunder.

Recovery of Estate Taxes. If the Executive's ’s gross estate Estate for federal estate tax purposes includes any amount determined by reference to and on account of this Executive Supplemental Retirement Income Agreement, and if the Beneficiary is other than the Executive's estate’s Estate, then the Executive's estate ’s Estate shall be entitled to recover from the Beneficiary receiving such benefit under the terms of the Supplemental Retirement Income Deferred Compensation Benefit an amount by which the total estate tax due by the Executive's estate’s Estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's ’s gross estateEstate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person in proportion to the benefits received by each such person. In the event any Beneficiary has a liability hereunder, such Beneficiary may petition the Bank for a lump sum payment in an amount not to exceed the Beneficiary's ’s liability hereunder.

Recovery of Estate Taxes. If the ExecutiveDirector's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Executive Supplemental Retirement Income Deferred Compensation Agreement, and if the Beneficiary is other than the ExecutiveDirector's estate, then the ExecutiveDirector's estate shall be entitled to recover from the Beneficiary receiving such benefit under the terms of the Supplemental Retirement Income Deferred Compensation Benefit an amount by which the total estate tax due by Executivethe Director's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the ExecutiveDirector's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event any the Beneficiary has a liability hereunder, such the Beneficiary may petition the Bank for a lump sum payment in an amount not to exceed the Beneficiary's liability hereunder.