Common use of Payment in Lieu of Benefits Clause in Contracts

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

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