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Common use of Payment Upon Death Clause in Contracts

Payment Upon Death. In the event of your death, amounts that otherwise would have become payable to you in accordance with Section 3(a) will be paid in cash, Shares or a combination thereof, to your designated beneficiary (if such beneficiary has been designated in writing in accordance with the Plan, and such writing has been delivered to the Company’s Executive Compensation department), or if no beneficiary is designated, in accordance with Article 19 of the Plan.

Appears in 3 contracts

Samples: Award Agreement (Xcel Energy Inc), Restricted Stock Unit Award Agreement (Xcel Energy Inc), Award Agreement (Xcel Energy Inc)

Payment Upon Death. In the event of your death, amounts that otherwise would have become payable to you in accordance with Section 3(a3(b) of these Terms and Conditions will be paid in cash, Shares or a combination thereof, to your designated beneficiary (if such beneficiary has been designated in writing in accordance with the Plan, and such writing has been delivered to the Company’s Executive Compensation department), or if no beneficiary is designated, in accordance with Article 19 of the Plan.

Appears in 3 contracts

Samples: Award Agreement (Xcel Energy Inc), Award Agreement (Xcel Energy Inc), Award Agreement (Xcel Energy Inc)

Payment Upon Death. In the event of your death, amounts that otherwise would have become payable to you in accordance with Section 3(a) will be paid in cash, Shares or a combination thereofin an amount equal to the Fair Market Value of one such Share as of the preceding business day to such payment date, to your designated beneficiary (if such beneficiary has been designated in writing in accordance with the Plan, and such writing has been delivered to the Company’s Executive Compensation department), or if no beneficiary is designated, in accordance with Article 19 Section 6(d) of the Plan.

Appears in 2 contracts

Samples: Performance Stock Unit Award Agreement (Northern States Power Co), Restricted Stock Unit Award Agreement (Northern States Power Co)

Payment Upon Death. In the event of your death, amounts that otherwise would have become payable to you in accordance with Section 3(a) will be paid in cash, Shares or a combination thereof, to your designated beneficiary (if such beneficiary has been designated in writing in accordance with the Plan, and such writing has been delivered to the Company’s Executive Compensation department), or if no beneficiary is designated, in accordance with Article 19 Section 6(d) of the Plan.

Appears in 1 contract

Samples: Restricted Stock Unit / Performance Share Unit Award Agreement (Xcel Energy Inc)

Payment Upon Death. In the event of your death, amounts that otherwise would have become payable to you in accordance with Section 3(a4(a) will be paid in cash, Shares or a combination thereof, to your designated beneficiary (if such beneficiary has been designated in writing in accordance with the Plan, and such writing has been delivered to the Company’s Executive Compensation department), or if no beneficiary is designated, in accordance with Article 19 Section 6(d) of the Plan.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Xcel Energy Inc)

Payment Upon Death. In the event of your death, amounts that otherwise would have become payable to you in accordance with Section 3(a3(b) of these Terms and Conditions will be paid in cash, Shares or a combination thereof, to your designated beneficiary (if such beneficiary has been designated in writing in accordance with the Plan, and such writing has been delivered to the Company’s Xcel Energy Executive Compensation department), or if no beneficiary is designated, in accordance with Article 19 of the Plan.

Appears in 1 contract

Samples: Award Agreement (Xcel Energy Inc)