Death During Payment of a Lifetime Benefit Sample Clauses

Death During Payment of a Lifetime Benefit. If the Executive dies after any Lifetime Benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Executive's beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.
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Death During Payment of a Lifetime Benefit. If the Director dies after any Lifetime Benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Director’s beneficiary at the same time and in the same amounts they would have been paid to the Director had the Director survived.
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Death During Payment of a Lifetime Benefit. If the Executive dies after any Lifetime Benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the benefits to the Executive’s Beneficiary at the same time and in the same amounts that would have been paid to the Executive for the Beneficiary’s remaining lifetime or up to February 2020, whichever comes first. If the Beneficiary does survive the Executive, then the Beneficiary, has the right to petition the Company for an alternative form of payment. However, the Company has complete and total authority regarding the decision to grant an alternative form of payment. However, if the Beneficiary does not survive the death of the Executive, then all remaining benefit payments will cease.
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Death During Payment of a Lifetime Benefit. If the Executive dies after any lifetime benefit payments have commenced under Article 2 but before receiving all such
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Death During Payment of a Lifetime Benefit. If the Executive dies after any lifetime benefit payments have commenced under this Agreement but before receiving all such payments, the Bank shall pay those benefits to the Executive's Beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived, provided however that any such beneficiary shall be paid for a period of time not exceeding twenty (20) years from the date that any such benefit was first paid. (eg. If the Executive had been receiving a lifetime benefit for a period of six (6) years before the Executive's death, then and in that event the Executive's Beneficiary would be entitled to receive that benefit for an additional fourteen (14) years.
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Death During Payment of a Lifetime Benefit. If the Executive dies after receiving any Lifetime Benefit payments pursuant to Article 2 Sections 2.1, 2.2, or 2.4 of this Agreement, the payments under Article 2 shall cease, and the Executive's beneficiary shall receive the benefit described in the Split Dollar Agreement, subject to Article 5 and Article 7 hereof.
Sample 1

Related to Death During Payment of a Lifetime Benefit

  • Death During Payment of a Benefit If the Executive dies after any benefit payments have commenced under Article 2 of this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.

  • Death During Distribution of a Benefit If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived.

  • Death During Benefit Period If the Executive dies after the benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Executive's beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.

  • Lifetime Benefits This Letter of Understanding forms an integral part of the collective agreement, and is intended to continue in effect during the term of subsequent collective agreements to the extent provided for herein.

  • Distributions During Lifetime (a) Notwithstanding any provision of this Agreement to the contrary, the distribution of the Participant’s interest in the Custodial Account shall be made in accordance with the requirements of Code Section 408(a)(6) and the regulations thereunder, the provisions of which are herein incorporated by reference. If distributions are made from an annuity contract purchased from an insurance company, distributions thereunder must satisfy the requirements of Q&A-4 of Section 1.401(a)(9)-6 of the Income Tax Regulations, rather than paragraphs (b), (c) and (d) below and Section 5.2. The required minimum distributions calculated for this XXX may be withdrawn from another XXX of the Participant in accordance with Q&A-9 of Section 1.408-8 of the Income Tax Regulations. If this is an inherited XXX within the meaning of Code Section 408(d)(3)(C), the preceding sentence and paragraphs (b), (c), and (d) below do not apply.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • PAYMENT OF DEATH BENEFIT The Company will require due proof of death before any death benefit is paid. Due proof of death will be:

  • Death During Employment If the Executive dies during the term of employment and has not attained the age of seventy years, the Corporation and/or any third party insurance provided by the Corporation, through a coordination of benefits, shall pay the estate of the Executive a death benefit equal to two times the Executive's annual salary. In the event the Executive receives death benefits payable under any group life insurance policy issued to the Corporation, the Corporation's liability under this clause will be reduced by the amount of the death benefit paid under such policy. The Corporation shall pay any remaining death benefits to the estate of the Executive over the course of twelve (12) months in the same manner and under the same terms as the Executive would have been paid if he had still been working for the Corporation. No later than one (1) month from the date of death, the estate of the Executive will also be paid any accumulated vacation pay. Such payments pursuant to this paragraph shall constitute the full compensation of said Executive and he and his estate shall have no further claim for compensation by reason of his employment by the Corporation.

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