Common use of Payment in Lieu of Benefits Clause in Contracts

Payment in Lieu of Benefits. In lieu of employee benefit coverage for his eligible dependents after his Date of Death, a payment in the amount of 10% of his annual base salary in effect at his Date of Death.

Payment in Lieu of Benefits. In lieu of employee benefit coverage for his her eligible dependents after his her Date of Death, a payment in the amount of 10% of his her annual base salary in effect at his her Date of Death.

Payment in Lieu of Benefits. In lieu of employee benefit coverage for his eligible dependents after his Date of Death, a payment in the amount of 10% of his annual base salary in effect at his Date the Base Salary for the period from the date of Deathdeath to the expiry of the term or, if applicable, the end of the then current extended term.

Payment in Lieu of Benefits. In lieu of employee benefit coverage for his eligible dependents after his Date of Death, a payment in the amount of 10% of his annual base salary Base Salary in effect at his Date of Death.