Common use of Death Prior to Retirement Clause in Contracts

Death Prior to Retirement. In the event the Executive should die while actively employed by the Corporation at any time after the date of this Agreement but prior to his attaining the age of sixty-five (65) years, the Corporation will pay the annual sum of Forty thousand Dollars ($40,000) per year, to the Executive's designated Beneficiary in equal monthly installments for a period of one hundred twenty (120) months. If the Executive is not survived by any designated beneficiary, said payments shall be made to the duly qualified personal representative, executor or administrator of his estate. The said monthly payments shall begin the first day of the month following the month of the decease of the Executive. The Corporation's obligation to make payments under this paragraph is contingent upon the Corporation receiving the insurance benefits payable as a result of the Executive's death.

Death Prior to Retirement. In the event the Executive should die while actively employed by the Corporation at any time anytime after the date of this Agreement but prior to his attaining the age of sixty-five (65) years, the Corporation will pay the annual sum of Forty thousand Dollars ($40,000$ 40,000 ) per year, to the Executive's designated Beneficiary beneficiary in equal monthly installments for a period of one hundred twenty (120) months. If the Executive is not survived by any designated beneficiary, said payments payment shall be made to the duly qualified personal representative, executor or administrator of his estate. The said monthly payments shall begin the first day of the month following the month of the decease of the Executive. The Corporation's obligation to make payments under this paragraph is contingent upon the Corporation receiving the insurance benefits payable as a result of the Executive's death.

Death Prior to Retirement. In the event the Executive should die while actively employed by the Corporation at any time after the date of this Agreement but prior to his attaining the age of sixty-five (65) years, the Corporation will pay the annual sum of Forty thousand Dollars ($40,000) per year, to the Executive's designated Beneficiary in equal monthly installments for a period of one hundred twenty (120) months. If the Executive is not survived by any designated beneficiary, said payments shall be made to the duly qualified personal representative, executor or administrator of his estate. The said monthly payments shall begin the first day of the month following the month of the decease of the Executive. The Corporation's obligation to make payments under this paragraph is contingent upon the Corporation receiving the insurance benefits payable as a result of the Executive's death.

Death Prior to Retirement. In the event the Executive should die while actively employed by the Corporation at any time anytime after the date of this Agreement but prior to his attaining the age of sixty-five (65) years, the Corporation will pay the annual sum of Forty thousand Dollars ($40,000) per year, to the Executive's designated Beneficiary beneficiary in equal monthly installments for a period of one hundred twenty (120) months. If the Executive is not survived by any designated beneficiary, said payments payment shall be made to the duly qualified personal representative, executor or administrator of his estate. The said monthly payments shall begin the first day of the month following the month of the decease of the Executive. The Corporation's obligation to make payments under this paragraph is contingent upon the Corporation receiving the insurance benefits payable as a result of the Executive's death.