Common use of Payment Upon Death of Employee Clause in Contracts

Payment Upon Death of Employee. In the event of the death of Employee during the term hereof, any unpaid payments due either prior to Employee’s death or after Employee’s death shall be payable as designated by Employee prior to his death in writing to Employers, or, in the absence of such designation, as designated in the depositive investments or beneficiary designation of Employee duly executed by Employee according to law. In the event of the death of all such persons so designated by Employee, either prior to the death of the Employee or during any time when payments are due as provided herein, or in the event Employee fails to so designate prior to his death, or withdraws all such designations, said payments thereafter shall be made to Employee’s estate.