Example ContractsClausesbenefit of agreementVariants
Benefit of Agreement
Benefit of Agreement contract clause examples

Survivor Benefit. In the event that Executive dies prior to the termination of the Employment Agreement, as well as prior to the attainment of full vesting under the Pension Plan and Pension SERP, Executive’s spouse shall be entitled to the benefits described in Section 5 of this Agreement based upon Executive’s benefit accrual service earned as of his date of death. Such benefits shall be paid to Executive’s spouse in the same amount and in the same form, and at the same time, all as prescribed under [Section 3A.1] of the Pension SERP.

Supplemental Benefit Entitlement. Executive shall be entitled to the benefits described under Section 5 of this Agreement in the event that he experiences a Termination due to Death, Termination due to Disability, Termination without Cause, or Resignation with Good Reason (as each is respectively defined under the Employment Agreement, and whether or not such event occurs in connection with a Change in Control) prior to becoming one hundred percent (100%) vested in benefits under the Pension Plan or the Pension SERP. In the event of Executive’s Termination due to Death, the benefit entitlement described under Section 5 of this Agreement shall be owed to Executive’s spouse (or if he has no spouse as of such time, his estate).

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.