Death caused by this skill does not incur Death penalty, does not increase the opposition's score in Kill Count games, nor does it count towards the total shown by /deaths.
This is a great skill to use for creating a minion factory chain. One uses this on the sacrificer; when the sacrificer dies, the resurrector dies as well, providing more corpses to exploit, without causing another character to gather death penalty.
Be warned if you cast this skill on multiple allies! It will trigger with the death of each ally - the effect will not wear off when you die. This could mean that when you die an ally may risk wasting a possible Resurrection Signet on you with the risk of you dying again as soon as another ally dies.
Since deaths incurred by this skill do not give death penalty, a character can use this when the party is near wipe, and resurrect with the party. Since the Death Pact Signet user incurs no death penalty, the party will never reach full 60%.