Common use of Payment on Death Clause in Contracts

Payment on Death. 13.1 Where an employee dies, or the Managing Director has directed that an employee will be presumed to have died on a particular date, the Managing Director will authorise the payment of the amount to which the former employee would have been entitled had the employee ceased employment, as if the employee had resigned as at that date. Payment may be made to dependents or the partner of the former employee or the former employee’s legal personal representative. If a payment has not been made within 12 months of the former employee’s death, it will be paid to the legal personal representative.

Payment on Death. 13.1 18.1 Where an employee dies, or the Managing Director Secretary has directed that an employee will be presumed to have died on a particular date, the Managing Director Secretary will authorise the payment of the amount to which the former employee would have been entitled had the employee ceased employment, as if the employee had resigned as at that dateor retired. Payment may be made to dependents dependants or the partner of the former employee or the former employee’s legal personal representative. If a payment has not been made within 12 months of the former employee’s death, it will should be paid to the legal personal representative.