Common use of Payments Upon Death Clause in Contracts

Payments Upon Death. In the event of the death of Employee, Employer shall nonetheless pay to the estate of Employee, or in such other manner as Employee may designate in writing to Employer, all sums which would otherwise have been paid to Employee under this Paragraph 9 for the balance of the term of this Agreement. For purposes of funding this obligation to make payments upon Employee's death, Employer may purchase and hold such life insurance policies on the life of Employee as may be appropriate; provided, however, that if the total funds available to Employer under the terms of such life insurance policies exceed the amount which would otherwise be payable to Employee by Employer under the terms of this Paragraph 9, Employer's payment obligation under this Paragraph 9 shall be increased to the total amount received by Employer under such insurance policies.

Payments Upon Death. In the event of the death of Employee, Employer shall nonetheless pay to the estate of Employee, or in such other manner as Employee may designate in writing to Employer, all sums which would otherwise have been paid to Employee under this Paragraph 9 for the balance of the term of this Agreement. For purposes of funding this obligation to make payments upon Employee's ’s death, Employer may purchase and hold such life insurance policies on the life of Employee as may be appropriate; provided, however, that if the total funds available to Employer under the terms of such life insurance policies exceed the amount which would otherwise be payable to Employee by Employer under the terms of this Paragraph 9, Employer's ’s payment obligation under this Paragraph 9 shall be increased to the total amount received by Employer under such insurance policies.

Payments Upon Death. In the event of the death of Employee's death, Employer shall nonetheless pay to the estate of Employee's estate, or in such other manner as Employee may designate specify in writing to Employer, all sums which would otherwise have been paid to due Employee under this Paragraph Section 9 for the balance of the term Term of this AgreementAgreement which amount shall be paid within thirty (30) days from Employee's death. For purposes of funding this obligation to make payments upon Employee's death, Employer may purchase and hold such life insurance policies on the life of Employee as may be appropriate; , provided, however, that if the total funds available to Employer under the terms of such life insurance policies exceed the amount which would otherwise be payable to Employee by Employer under the terms of this Paragraph Section 9, Employer's payment obligation under this Paragraph Section 9 shall be increased to the total amount received by Employer under any such insurance policies.