Order of Death Clause Samples

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Order of Death. At the time of the Trust’s creation the Grantor: (Choose One) ☐ - Is Not Married ☐ - Is Married with the spouse known as _____________________ (referred to as the “Grantor’s Spouse”) and therefore if their death occurs where it cannot be determined whether who died first, the Grantor or the Grantor’s Spouse, then the property and assets shall be transferred as follows: (Check One) ☐ - Grantor Dies First – The Grantor shall be determined as the individual that died first with the estate of the Grantor’s Spouse able to claim any and all property, life insurance claims, and any other property in the same right as if the Grantor’s Spouse survived the Grantor. ☐ - Grantor Dies Second – The Grantor shall be determined as the individual that died second with the estate of the Grantor’s Spouse not able to claim any property, life insurance claims, or any other property in the same right as if the Grantor’s Spouse predeceased the Grantor.
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Order of Death. If a Participant and his or her Spouse both die as a result of an event where it cannot be determined by the Administrator (or, at the Administrator's discretion, by a court of competent jurisdiction) within a reasonable time and with reasonable certainty based on the information or evidence presented to the Administrator which person died first, it will be presumed for purposes of any death benefits payable under the Plan that (1) if only one of the deceased persons was a Participant, that the person who was a Participant entitled to benefits hereunder shall be presumed to have died first, and (2) if each of the deceased persons was a Participant, it shall be presumed that the older person died first.
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Related to Order of Death

  • NOTIFICATION OF DEATH 23 A. Upon becoming aware of the death of any person served pursuant to this Agreement, 24 CONTRACTOR shall immediately notify ADMINISTRATOR. 25 B. All Notifications of Death provided to ADMINISTRATOR by CONTRACTOR shall contain 26 the name of the deceased, the date and time of death, the nature and circumstances of the death, and the 27 name(s) of CONTRACTOR’s officers or employees with knowledge of the incident.

  • Termination Because of Death or Disability If Participant is Terminated because of death or Disability of Participant, the Option, to the extent that it is exercisable by Participant on the date of Termination, may be exercised by Participant (or Participant's legal representative) no later than twelve (12) months after the date of Termination, but in any event no later than the Expiration Date.

  • Effect of Death or Disability If the Executive's employment is terminated by reason of the Executive's death or Disability during the Term of this Agreement, this Agreement shall terminate automatically on the date of death or, in the event of Disability, on the Date of Termination. In the event of the Executive's death following the Executive's Date of Termination, but prior to the payment of the severance payments and benefits provided under paragraph 4 hereof, if any, such payments and benefits will be paid to the Executive's surviving spouse, or if the Executive has no surviving spouse, then to the Executive's estate.

  • Termination by Reason of Death If the Optionee ceases to be a Director by reason of the Optionee’s death, any portion of this Stock Option outstanding on such date may be exercised by his or her legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier.

  • Termination in the Event of Death or Disability This Agreement shall terminate in the event of death or disability of Executive. (a) In the event of Executive's death, Ceridian shall pay an amount equal to 12 months of Base Salary at the rate in effect at the time of Executive's death plus the amount Executive would have received in annual incentive plan bonus for the year in which the death occurs had "target" goals been achieved. Such amount shall be paid (1) to the beneficiary or beneficiaries designated in writing to Ceridian by Executive, (2) in the absence of such designation to the surviving spouse, or (3) if there is no surviving spouse, or such surviving spouse disclaims all or any part, then the full amount, or such disclaimed portion, shall be paid to the executor, administrator or other personal representative of Executive's estate. The amount shall be paid as a lump sum as soon as practicable following Ceridian's receipt of notice of Executive's death. All such payments shall be in addition to any payments due pursuant to Section 4.04(c) below. (b) In the event of Executive's disability, Base Salary shall be terminated as of the end of the month in which the last day of the six-month period of Executive's inability to perform his or her duties occurs. (c) In the event of termination by reason of Executive's death or disability, Ceridian shall pay to Executive any amount equal to (1) the amount Executive would have received in annual incentive plan bonus for the year in which termination occurs had "target" goals been achieved, multiplied by (2) a fraction, the numerator of which shall be the number of whole months Executive was employed in the year in which the death or disability occurred and the denominator of which is 12. The amount payable pursuant to this Section 4.04(c) shall be paid within 15 days after the date such bonus would have been paid had Executive remained employed for the full fiscal year.