Common use of Retirement Death Benefit Clause in Contracts

Retirement Death Benefit. The Corporation agrees that if the Executive shall so retire, but shall die before receiving one-hundred eighty (180) monthly payments, it will continue to make such monthly payments to the surviving spouse of the Executive. Payments to the surviving spouse shall continue for a period which shall terminate upon the earlier of (a) the date of the expiration of one-hundred eighty (180) months from the date of such retirement, or (b) the date of death of the surviving spouse. If the Executive is not survived by a spouse then no death benefits will be paid under the terms of this Agreement.

Appears in 4 contracts

Samples: Supplemental Retirement Agreement (ISB Financial Corp.), Supplemental Retirement Agreement (ISB Financial Corp.), Supplemental Retirement Agreement (ISB Financial Corp.)

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Retirement Death Benefit. The Corporation agrees that if the Executive shall so retire, but shall die before receiving the one-hundred eighty (180) monthly payments, it will continue to make such monthly payments to the surviving spouse of the Executive. Payments to the surviving spouse shall continue for a period which shall terminate upon the earlier of (a) the date of the expiration of one-hundred eighty (180) months from commencing with the date month the Executive has or would have attained the age of such retirement65 years, or (b) the date of death of the surviving spouse. If the Executive is not survived by a spouse then no death benefits will be paid under the terms of this Agreement.

Appears in 1 contract

Samples: Supplemental Retirement Agreement (ISB Financial Corp.)

Retirement Death Benefit. The Corporation agrees that if the Executive shall so retire, but shall die before receiving one-hundred eighty twenty (180120) monthly payments, it will continue to make such monthly payments to the surviving spouse of the Executive. Payments to the surviving spouse shall continue for a period which shall terminate upon the earlier of (a) the date of the expiration of one-hundred eighty twenty (180120) months from the date of such retirement, or (b) the date of death of the surviving spouse. If the Executive is not survived by a spouse then no death benefits will be paid under the terms of this Agreement.

Appears in 1 contract

Samples: Second Supplemental Retirement Agreement (ISB Financial Corp.)

Retirement Death Benefit. The Corporation agrees that if the Executive shall so retire, but shall die before receiving one-hundred eighty (180) monthly monthLy payments, it will continue to make such monthly payments to the surviving spouse of the Executive. Payments to the surviving spouse shall continue for a period which shall terminate upon the earlier of (aof(a) the date of the expiration of one-hundred eighty (180) months from the date of such retirement, or (b) the date of death of the surviving spouse. If the Executive is not survived by a spouse then no death benefits will be paid under the terms of this Agreement.

Appears in 1 contract

Samples: Supplemental Retirement Agreement (MidWestOne Financial Group, Inc.)

Retirement Death Benefit. The Corporation agrees that if the Executive shall so retire, but shall die before receiving one-any or all three hundred eighty sixty (180360) monthly payments, it will continue to make such monthly payments to the surviving spouse of the Executive. Payments to the surviving spouse shall continue for a period which shall terminate upon the earlier of (a) the date of the expiration of onethree-hundred eighty sixty (180360) months from the date of such retirement, or (b) the date of death of the surviving spouse. If the Executive is not survived by a spouse then no death benefits will be paid under the terms of this Agreement.

Appears in 1 contract

Samples: Supplemental Retirement Agreement (ISB Financial Corp.)

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Retirement Death Benefit. The Corporation agrees that if the Executive shall so retire, but shall die before receiving any or all one-hundred eighty (180) monthly paymentspayments provided for herein, it will continue to make such monthly payments payments, not paid to the Executive on account of death, to the surviving spouse of the Executive. Payments to the surviving spouse shall continue for a period which shall terminate upon the earlier of (a) the date of the expiration of one-hundred eighty (180) months from the date of such retirementDecember 31, 2023, or (b) the date of death of the surviving spouse. If the Executive is not survived by a spouse then no death benefits will be paid under the terms of this Agreement.. ARTICLE FOUR

Appears in 1 contract

Samples: Supplemental Retirement Agreement (ISB Financial Corp.)

Retirement Death Benefit. The Corporation agrees that if the Executive shall so retire, but shall die before receiving one-hundred eighty (180) monthly payments, it will continue to make such monthly payments to the surviving spouse of the Executive. Payments to the surviving spouse shall continue for a period which shall terminate upon the earlier of (aof(a) the date of the expiration of one-hundred eighty (180) months from the date of such retirement, or (b) the date of death of the surviving spouse. If the Executive is not survived by a spouse then no death benefits will be paid under the terms of this Agreement.

Appears in 1 contract

Samples: Supplemental Retirement Agreement (MidWestOne Financial Group, Inc.)

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