Payment to Estate Clause Samples
The 'Payment to Estate' clause defines how payments owed to a party under a contract are handled if that party dies before receiving them. Typically, this clause stipulates that any outstanding amounts due will be paid to the deceased party's estate or legal representatives, rather than being forfeited or left unaddressed. This ensures that the deceased's beneficiaries or heirs receive any contractual payments that were earned but unpaid, providing clarity and continuity in the event of a party's death.
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Payment to Estate. No person, firm or entity shall have any right to receive any payments owing to EMPLOYEE hereunder, except that EMPLOYEE’s estate shall be entitled to receive a final payment of installment of Base Salary for services rendered to COMPANY through date of death, reimbursement for any business expenses previously incurred by EMPLOYEE for which he or she would have been entitled to reimbursement hereunder, and any residual bonus earned but not paid. Any residual bonus shall be paid in normal course of business.
Payment to Estate. If the Administrator dies prior to the expiration of the term of this employment, payment for his accumulated vacation days shall be made to his estate.
Payment to Estate. If the Business Administrator/Board Secretary dies before this Employment Contract term is completed, payment for all accumulated vacation days, but not for accumulated unused sick days, shall be made to her estate or her named beneficiary.
Payment to Estate. If the Employee dies prior to the expiration of the term of this employment, payment for accumulated vacation and sick days shall be made to the estate.
Payment to Estate. If Employee dies prior to full satisfaction of the obligations owed to Employee under this Agreement, any monies that may be due Employee under this Agreement as of the date of Employee’s death will be paid to Employee’s estate.
Payment to Estate. If the Superintendent dies before an Employment Contract year is completed, payment for the unused vacation days owed under this Contract shall be made available to the Superintendent's beneficiary. If no beneficiary is named, the payment shall be to the Superintendent's estate, based on the per diem rates applicable.
Payment to Estate. No person, firm or entity shall have any right to receive any payments owing to EMPLOYEE hereunder, except that EMPLOYEE’s estate shall be entitled to receive a final payment of installment of Base Salary for services rendered to UTSI through date of death and reimbursement for any business expenses previously incurred by EMPLOYEE for which he would have been entitled to reimbursement hereunder.
Payment to Estate. If the employee dies before retirement, the total value in the accounts with respect to contributions made will be paid to the spouse. The spouse may choose to receive payment as a lump sum or as a pension. If the employee does not have a spouse or the employee and the spouse have waived their right to a death benefit, the death benefit will be paid in a lump sum to the named beneficiary.
Payment to Estate. Retirement allowance, if uncollected by the Employee, will be paid to the beneficiary or estate.
Payment to Estate. If the Assistant Superintendent for Curriculum and Instruction dies before this Employment Contract term is completed, payment for all accumulated vacation days, but not for accumulated unused sick days, shall be made to his estate or his named beneficiary. In addition, the Board agrees to pay the Assistant Superintendent for Curriculum and Instruction's estate the balance of any terminal leave compensation from his time with the LTASA as referred to in paragraph #7 above that has been accumulated up to the time of death. In either case, the payment schedule shall be that of the district’s current policy regarding terminal leave compensation disbursements.