Common use of Death Prior to Retirement Clause in Contracts

Death Prior to Retirement. a. In the event that the Executive dies while in the employ of the Company and has a Beneficiary on the date of his death, the Executive's Beneficiary shall receive, beginning with the first day of the month following the Executive's death and payable monthly, an annual amount equal to two-thirds of the Executive's Unreduced Supplemental Retirement Benefit (computed on the basis of the Vesting Service which the Executive would have completed had the Executive remained in the employ of the Company until attainment of age 60) offset by the Other Company Plan Benefits; provided, however, that such offset shall be made at such time as Other Company Plan Benefits are payable (whether or not the Beneficiary has elected to defer payment to a later date) and in an amount equal to (i) a life annuity payable to the Executive's Beneficiary that is equal to the Actuarial Equivalent of the SGC Profit Sharing Plan balance, and (ii) the survivor annuity actually payable to Executive's Beneficiary pursuant to any Other Company Plan, each determined as of the earliest date on which payments of Other Company Plan Benefits are payable to the Beneficiary.

Death Prior to Retirement. a. (a) In the event that the Executive dies while in the employ of the Company Company, and has a Beneficiary on the date of his death, the Executive's ’s Beneficiary shall receive, beginning with the first day of the month following the Executive's ’s death and payable monthly, an annual amount equal to two-thirds of the Executive's ’s Unreduced Supplemental Retirement Benefit (computed on the basis of the Vesting Service which the Executive would have completed had the Executive executive remained in the employ of the Company until attainment of age 60) offset by the Other Company Plan Benefits; provided, however, that such offset shall be made at such time as Other Company Plan Benefits are payable (whether or not the Beneficiary has elected to defer payment to a later date) and in an amount equal to (i) a life annuity payable to the Executive's ’s Beneficiary that is equal to the Actuarial Equivalent of the SGC Profit Sharing Plan balance, balance and (ii) the survivor annuity actually payable to Executive's ’s Beneficiary pursuant to any Other Company Plan, each determined as of the earliest date on which payments of Other Company Plan Benefits are payable to the Beneficiary.

Death Prior to Retirement. a. In the event that the Executive dies while in the employ of the Company after his Supplemental Retirement Benefit has vested and has a Beneficiary on the date of his death, the Executive's ’s Beneficiary shall receive, beginning with the first day of the month following the Executive's ’s death and payable monthly, an annual amount equal to two-thirds of the Executive's ’s Unreduced Supplemental Retirement Benefit (computed on the basis of the Vesting Service which the Executive would have completed had the Executive remained in the employ of the Company until attainment of age 60) offset by the Other Company Plan Benefits; provided, however, that such offset shall be made at such time as Other Company Plan Benefits are payable (whether or not the Beneficiary has elected to defer payment to a later date) and in an amount equal to (i) a life annuity payable to the Executive's ’s Beneficiary that is equal to the Actuarial Equivalent of the SGC Profit Sharing Plan balance, and (ii) the survivor annuity actually payable to Executive's ’s Beneficiary pursuant to any Other Company Plan, each determined as of the earliest date on which payments of Other Company Plan Benefits are payable to the Beneficiary.