Payment in Case of Death. In addition to the Company's obligations under Section 4.1, if at the time of Executive's death, Executive maintained health insurance for members of his immediate family, the Company shall pay the premiums to maintain such health insurance in full force and effect for a period of at least one year from the date of Executive's death (which shall not count toward or reduce the minimum length of time that the Company is obligated to provide health insurance to Executive's immediate family under Section 4980(B) of the Internal Revenue Code of 1986, as amended (the "Code")).
Payment in Case of Death. In conformance with MCL 408.480, the Employer shall pay the wages and fringe benefits including accumulated vacation pay due a deceased employee to one or more of the following persons in the priority listed: The deceased employee’s surviving spouse, the deceased employee’s surviving children, the deceased employee’s surviving mother or father, the deceased employee’s surviving sister or brother, unless the employee has established a designee or designees by a signed statement filed with the Employer before the employee’s death, and letters of administration are not required to be issued for the estate of the deceased employee; in which case the Employer shall make those payments to the designee or designees in the signed statement. Payment in this manner shall be a full discharge and release of the Employer from the wages and fringe benefits due and owing the deceased employee.
Payment in Case of Death. Subject to the terms and conditions of this ------------------------ Agreement, in the event of the death of the Key Employee on any date after the date of this Agreement on which the Key Employee was an employee "in good standing" immediately prior to the date of death, and prior to the Closing Date or the date of any termination of the Definitive Agreement, Xxxx Atlantic shall cause the Key Employee's last employing Xxxx Atlantic Company to pay the Key Employee's estate a single cash payment which (before withholding taxes) shall be equal to a fraction of the amount described in Section 1(a). The numerator of the fraction shall be the number of days that have elapsed between the signing of this Agreement and the Key Employee's date of death, and the denominator of the fraction shall be the number of days that elapse between the signing of this Agreement and the Closing Date. Such payment shall be made in accordance with the timetable prescribed in Section 1(a), and substituting the date of death for the date described in Section 1(a) for purposes of calculating Pay in those subsections. If the Definitive Agreement is terminated as provided in Section 1(b) after the Key Employee's date of death, a payment shall be made to the Key Employee's estate (in lieu of the foregoing payment) in an amount equal (before withholding of taxes) to 25 percent of the amount described in Section 1(a) of this Agreement and substituting the date of death for the date described in Section 1(a) for purposes of calculating the then applicable Pay in Section 1(a).
Payment in Case of Death. If Executive's employment terminates because of Executive's death, Company shall pay to Executive's beneficiary or, if no beneficiary has been designated by Executive in a written notice to Company prior to his death, then to Executive's estate Executive's salary through the date of Executive's death.
