Common use of Death or Retirement Clause in Contracts

Death or Retirement. In the event of the death or retirement of an employee, longevity due for that year will be paid through the date of death or retirement on a pro- rata basis through that date. It will not be paid on any terminal pay, but will be paid as a lump sum with any earned terminal pay.

Death or Retirement. In the event of the death or retirement of an employeeEmployee, longevity due for that year will be paid through the date of death or retirement on a pro- rata prorate basis through that date. It will not be paid on any terminal pay, pay but will be paid as a lump sum with any earned terminal pay.