Common use of Employee’s Death Clause in Contracts

Employee’s Death. This Agreement shall terminate upon the Employee’s death; provided, however, that if such death occurs after the occurrence of a termination of employment for which a lump sum payment is due and payable under Section 3(a), all payments owing to the Employee under this Agreement shall be made to the Employee’s estate, subject to execution and delivery of a release by the executor of such estate, in form and substance satisfactory to the Bank.