Common use of Death After the Employee has Begun Receiving Payments Clause in Contracts

Death After the Employee has Begun Receiving Payments. Should the Employee die after he has begun to receive the payments provided in under paragraph 3.1 above, but before all fifteen annual payments have been made, the Company shall make a lump sum payment to the Employee's Beneficiary in an amount equal to the death proceeds then payable under each Policy, minus the total amount of annual payments previously made to the Employee.

Death After the Employee has Begun Receiving Payments. Should the Employee die after he has begun to receive the payments provided in under paragraph 3.1 above, but before all fifteen annual payments have been made, the Company shall continue to make a lump sum payment such payments to the Employee's his Beneficiary in until an amount equal to the death proceeds then payable under each Policy, minus the aggregate total amount of fifteen annual payments previously made to the Employeehave been made.

Death After the Employee has Begun Receiving Payments. Should the Employee die after he has begun to receive the payments provided in under paragraph 3.1 above, but before all fifteen annual payments have been made, the Company shall make a lump sum payment to the Employee's ’s Beneficiary in an amount equal to the death proceeds then payable under each the Policy, minus the total amount of annual payments previously made to the Employee.