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 the fifteen (15) annual payments, it will continue to make such annual payments to such individual or individuals as the Executive may have designated in writing, filed with and been approved by the Corporation, until the expiration of fifteen (15) years from the date such payments commence. In the absence of any effective designation of beneficiary any such amounts becoming due and payable upon the death of the Executive shall be payable to his duly qualified executor or administrator.

Retirement Death Benefit. The Corporation agrees that if the Executive shall so retire, but shall die before receiving the fifteen (15) annual payments, it will continue to make such annual payments to such individual or individuals as the Executive may have designated in writing, filed with and been approved by the Corporation, until the expiration of fifteen (15) years from the date such payments commence. In the absence of any effective designation of beneficiary any such amounts becoming due and payable upon the death of the Executive shall be payable to his duly qualified executor or administrator.

Retirement Death Benefit. The Corporation Bank agrees that if the Executive shall so retire, but shall die before receiving the fifteen (15) annual paymentsAnnual Payments, it will continue to make such annual payments Annual Payments annually to such individual or individuals as the Executive may shall have designated in a writing, filed with and been approved by the CorporationBank, until the expiration of the fifteen (15) years from the date of such payments commenceretirement. In the absence of any effective designation of beneficiary any such amounts becoming due and payable upon after the death of the Executive shall be payable paid to his duly qualified executor or administrator.