Common use of Severance at Death Clause in Contracts

Severance at Death. In case of the death of an employee, which death occurs during that employee's tenure, the employee's spouse, or if no spouse, the employee's estate, shall receive an amount of money equal to that amount which the employee would have received had the employee retired on the date of said employee's death, and had the employee retired under PFPDF. Said amount of money shall be computed in the same manner as severance pay is computed for an employee retiring under a recognized retirement system. All limitations that would apply to an employee eligible for severance pay will be applicable in determining the amount to be paid to the employee's surviving spouse or to the employee's estate should there be no surviving spouse.

Severance at Death. In case of the death of an employee, which death occurs during that employee's tenure, the employee's spouse, or if no spouse, spouse the employee's estate, shall receive an amount of money equal to that amount which the employee would have received had the employee retired on the date of said employee's death, death and had the employee retired under the PFPDF. Said amount of money shall be computed in the same manner as severance pay is computed for an employee retiring under a recognized retirement system. All limitations that would apply to an employee eligible for severance pay will be applicable in determining the amount to be paid to the employee's surviving spouse or to the employee's estate should there be no surviving spouse.

Severance at Death. In case of the death of an employee, which death occurs during that employee's tenure, the employee's spouse, or if no spouse, the employee's estate, shall receive an amount of money equal to that amount which the employee would have received had the employee retired on the date of said employee's death, and had the employee retired under PFPDFPERS. Said amount of money shall be computed in the same manner as severance pay is computed for an employee retiring under a recognized retirement system. All limitations that would apply to an employee eligible for severance pay will be applicable in determining the amount to be paid to the employee's surviving spouse or to the employee's estate should there be no surviving spouse.