Example ContractsClauseseffect of separation from service as directorIdentical
Effect of Separation From Service as Director
Effect of Separation From Service as Director contract clause examples

Death Prior to Separation from Service and Disability. In the event the Executive dies prior to Separation from Service and Disability, the Employer shall pay the Beneficiary the Deferral Account balance as of the date of the Executive’s death, plus an additional amount equal to the Contributions remaining to be made in accordance with [Article 2]. This benefit shall be paid in a lump sum or in quarterly installments up to 10 years, at the selection of the Executive, and shall commence the first day of the immediately subsequent quarter following the Executive’s death. During the payment period, interest shall be credited on the unpaid portion of the benefit as described in [Section 3.1(b)(ii)]. The quarterly payments shall be amortized in such a way so as to produce equal payments over the remaining payment period. This will require quarterly reamortization for changes in the Crediting Rate.

Deferred Compensation Agreement
Source: SEC EDGAR database • Date: August 7, 2017 • SIC: 6029 • CIK: 6029

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