Common use of Payment Upon Death Clause in Contracts

Payment Upon Death. When an employee dies, any and all accrued, unused vacation leave to his/her credit shall be paid to the surviving spouse. In the event that the employee has no surviving spouse, said unused vacation leave shall be paid to the employee's estate. Such payment shall be paid at the employee's hourly rate of pay at time of death in a lump sum (less applicable withholding), less any amounts owed by the employee to the City.

Payment Upon Death. ‌ When an employee dies, any and all accrued, and unused vacation leave to his/her credit shall be paid to the surviving spousebeneficiary designated on the employee’s City guaranteed life insurance policy. In the event that the employee has no surviving spousedesignated beneficiary, said unused vacation leave shall be paid to the employee's estate. Such payment shall be paid at the employee's hourly rate of pay at time of death in a lump sum (less applicable withholding), less any amounts owed by the employee to the City.