Common use of Effect of Death While Employed by the Surviving Entity Clause in Contracts

Effect of Death While Employed by the Surviving Entity. If, while the Executive is employed by the Surviving Entity, the Executive dies during the Severance Period, the Surviving Entity shall pay within 30 days of the Executive’s death to the Executive’s estate any accrued but unpaid Base Pay and Incentive Pay due or to become due and the Surviving Entity shall not have any further obligations to the Executive for Base Pay or Incentive Pay.

Appears in 4 contracts

Samples: Severance Agreement (National City Corp), Severance Agreement (National City Corp), Severance Agreement (National City Corp)

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