Death Benefits Payable Sample Clauses

Death Benefits Payable. Upon the death of an employee, all accrued and unused overtime, vacation leave, and other terminal leave benefits (other than life insurance proceeds for which a beneficiary has been designated), shall be paid within forty-five (45) days to the employee’s designated beneficiary of the terminal leave benefits. The Employer will provide a form that employees may use to designate the beneficiary of the employee’s terminal leave benefits.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Death Benefits Payable. 5.1 Subject to the provisions of Section 3.2, if the Participant dies after his Normal Retirement Date, the Surviving Spouse will receive a benefit equal to $20,833.34 payable in accordance with Section 5.3. Such benefit shall commence after the guaranteed payments under Section 3.2 are completed if the Surviving Spouse is then living.
Sample 1Sample 2
Death Benefits Payable 
Sample 1Sample 2Sample 3See All (12)

Related to Death Benefits Payable

  • Death Benefits Upon the Executive's death during the Contract Period, his estate shall not be entitled to any further benefits under this Agreement.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Pre-Retirement Death Benefits Should the Director die while --------- ----------------------------- serving as a director of the Bank and prior to the occurrence of his Retirement Age, the Bank will pay $1,500.00 per month for a continuous period of 120 months to the Beneficiary or Beneficiaries of the Director. The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the calendar month following the calendar month in which the Director died. In the event of the death of the last living Beneficiary before all installment payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of seven and one-half percent (7 1/2%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, or if no Beneficiary survives the Director, any payments remaining unpaid at the Director's death shall be commuted on the basis of seven and one-half percent (7 1/2%) per annum compounded interest and shall be paid in a single sum to the Director's estate.

Time is Money Join Law Insider Premium to draft better contracts faster.