Death Benefits. Upon the Executive's death during the Contract Period, his estate shall not be entitled to any further benefits under this Agreement.
Death Benefits. In the event of the death of a teacher who, at the time of death has been employed by the Board continuously for six months, the Board shall pay one months‘ salary to the widow or widower of the deceased, or to the estate if there is no widow or widower. This payment is in addition to any amount earned by the deceased up to the date on which he or she was last employed by the Board.
Death Benefits. Upon the Executive’s death during the Contract Period, the Executive shall be entitled to the benefits of any life insurance policy or supplemental executive retirement plan paid for, or maintained by, the Employer, but his estate shall not be entitled to any further benefits under this Agreement.
Death Benefits. After the Executive’s death, the Bank shall pay to the Executive’s Beneficiary the Account Balance as of the date of the Executive’s death. The Account Balance shall be paid to the Executive’s Beneficiary in a single lump sum, 90 days after the date of the Executive’s death. However, if the Executive dies after termination of this Agreement under Article 6, the Executive’s Beneficiary shall be entitled to no benefits under this Agreement.
Death Benefits. Upon the Executive's death during the Contract Period, the Executive shall be deemed to terminate without cause as of the date of death and his estate shall be entitled to the payments and benefits provided under Section 9 hereof as if the Executive had been terminated without cause upon such date.
Death Benefits. In the event Executive dies while employed by Company or within six months and one week after Executive’s date of separation from service with Company due to retirement, Company will pay the sum of THIRTY-NINE FOUR HUNDRED EIGHTY-EIGHT and 67/100 Dollars ($39,488.67) per month for a period of ten (10) years, to such individual or individuals as Executive shall have designated in writing as his beneficiary(ies) as provided in Paragraph 13 below or, in the absence of such designation, to Executive’s estate, as applicable. The first payment shall be made not later than two months following Executive’s death.
Death Benefits. In the event Employee dies while employed by Employer prior to Employee’s Retirement Date, Employer will pay the sum of Fifty-Seven Thousand Three Hundred Forty-One and No/100 Dollars ($57,341.00) per year, payable in monthly installments of Four Thousand Seven Hundred Seventy-Eight and 41/100 Dollars ($4,778.41) for a period of ten (10) years, to such individual or individuals as Employee shall have designated in writing filed with Employer, or in the absence of such designation, to the Estate of Employee. The first payment shall be made not later than two (2) months following Employee’s death. Payments hereunder shall be payable each month without deductions and the recipient shall be solely responsible for the payment of all income and other taxes and assessments applicable on said payments.
Death Benefits. During the Contract Period (defined without regard to his death), upon the Executive’s death his estate shall be paid within 20 business days of his death a lump sum equal to the highest annual salary (including 401(k) plan deferral) paid to the Executive during any calendar year in each of the three calendar years immediately prior to the Change in Control, but shall not be entitled to any further compensation or benefits under this Agreement, except as provided in the next sentence and in Section 12. If the Company fails to pay the Executive’s estate the lump sum amount due him under this Section or the payments under Section 12, the Executive’s estate, after giving 10 days’ written notice to the Company identifying the Company’s failure, shall be entitled to recover from the Company on a monthly basis as incurred all of its reasonable legal fees and expenses incurred in connection with its enforcement against the Company of the terms of this Agreement. The Executive’s estate shall be denied payment of its legal fees and expenses only if a court finds that the Executive sought payment of such fees without reasonable cause and not in good faith.
Death Benefits. Upon the Director's death prior to termination of this Agreement, the Company shall pay to the Director's beneficiary a benefit equal to the Retirement Account balance as of the Plan Anniversary immediately preceding the Director's death. The Company shall pay the benefit to the beneficiary in a lump sum within sixty (60) days following the Director's death.
Death Benefits. The Company shall not pay a death benefit under this Agreement. A death benefit may be provided according to the terms of a separate Split Dollar Agreement entered into by the Company and the Executive.
