Common use of Death Prior to Retirement Clause in Contracts

Death Prior to Retirement. In the event that the Executive should die while actively employed by the Corporation at any time after the Effective Date of this Agreement, the Corporation shall pay the Supplemental Benefit described in this Article 2 to such individual or individuals as the Executive has designated in writing, filed with and been approved by the Corporation. In the absence of any effective designation of a beneficiary, any amounts payable under this Article 2 shall be payable to the Executive's duly qualified executor or administrator.