Termination upon Death definition

Termination upon Death. Any accrued salary and any accrued bonuses and stock options as of the date of termination shall be paid to the legal representative of my estate. "Termination for Disability" * My employment may be terminated should I become disabled, including disability by reason of any emotional or mental disorders, physical diseases of injuries, as a result of such disability I am unable to work on a full-time basis for a continuous period of six months or more or any six months in a twelve month period. * Upon such termination, any accrued salary and any accrued incentives (bonuses, commissions, etc.) and stock options as of the date of termination shall be paid to me. MicroVision Medical Systems, Inc. 00000 000xx Xxxxxxx Xxxxxxxxx, XX 00000 August 14, 1996 Xx. Xxxxxxx Xxxxxx 0000 Xxxxxxxxx Xxxx Xxxxx, TX 75093 Dear Xxx: Following is a clarification on the terms of your equity opportunity in MicroVision: Purchase 0.25% of MicroVision @ $1.00/share. This must be executed immediately (your option) if you choose to acquire this equity. Additional shares can be acquired @ $1.00/share via a stock option. The option has a vesting schedule (specified in your offer letter) which will allow you to increase your ownership over time. When you receive the stock option document (approximately 2-3 weeks), you will notice an expiration date which is typically 5-7 years. You will not be required to exercise any portion of your stock option prior to the IPO or the expiration date. I hope this clarification helps. If you have any questions, please give me call. Sincerely /s/ Xxxx Xxxxxx
Sample 1
Termination upon Death. O'Dell's employment with DUSA will cease and this Agreement will terminate without further compensation if O'Dell dies. Upon his death, his estate will be entitled to any Corporation paid death benefit in force at the time of such death. In addition, O'Dell's estate shall be paid any cash bonus to which he would have been entitled under Paragraph 3 above. Likewise, O'Dell's beneficiaries as designated by him to DUSA shall be entitled to receive the benefits, if any, described in Paragraphs 5 and 6 above, and will be entitled to exercise any vested but unexercised stock options that were held by him at the time of his death, subject to the terms and conditions of such options.
Sample 1

Examples of Termination upon Death in a sentence

  • If this Agreement is terminated by the Company pursuant to Sections 4.1 (Termination upon Death), 4.2 (Termination upon Disability) or 4.3 (Termination for Cause) hereof or in the event the Executive elects not to renew this Agreement pursuant to Section 2, the Executive shall receive only the amounts specified in clauses (iii), (iv) and (v) of Section 5.1 hereof.

  • If this Employment Agreement is terminated by the Company pursuant to Sections 4.1 (Termination upon Death), 4.2 (Termination upon Disability) or 4.3 (Termination for Cause) hereof, the Executive shall receive only the amounts specified in clause (iii) of Section 5.1 hereof.

  • In the event of termination of employment pursuant to Section 6.1(ii) (Termination for Disability) or Section 6.1(iii) (Termination upon Death), Executive shall be entitled to receive the Accrued Benefits.

  • You agree that in the event your employment with the Company terminates on or before August 9, 2025 for any reason other than a Termination by Executive for Good Reason, or Termination by the Company without Cause, or Termination upon Death or Disability (the “Retention Date”), you will be required to repay all or a portion of the Cash Payment to the Company within ten (10) business days of such termination as set forth below (the “Clawback Amount”).

  • Section 7.1. Termination upon Death, Disability, for Cause or Voluntarily.

  • Resignation without Good Reason and Termination upon Death or Disability.

  • Termination upon Death of a Participant Participation in the Plan will be terminated automatically upon receipt by the Agent of a written notice, satisfactory to the Agent, of the death of a Participant.

  • A Participant shall have no right to acquire Shares on any Purchase Date subsequent to termination of his or her Employment.VI.2 Termination upon Death, Retirement or Disability.

  • If this Employment Agreement is terminated by the Company pursuant to Sections 4(a) (Termination upon Death), 4(b) (Termination upon Disability) or 4(c) (Termination for Cause) hereof, the Executive (or his estate or representative as applicable) shall receive only the amounts specified in clause (ii) and (iii) of Section 5(a) hereof.

  • Termination upon Death Upon termination of the Participant's Employment because of that person's death, the payroll deductions credited to that person's Account shall be used to purchase Shares as provided in Section VI on the next Purchase Date.

Related to Termination upon Death

  • Termination Upon a Change in Control means a termination of Officer’s employment with Corporation within 12 months following a “Change in Control” that constitutes a Termination Other Than For Cause described in Section 2.1(b).

  • Termination Upon Change of Control shall not include any termination of the employment of the Executive (a) by the Company for Cause; (b) as a result of the Permanent Disability of the Executive; (c) as a result of the death of the Executive; or (d) as a result of the voluntary termination of employment by the Executive for reasons other than Good Reason.

  • Termination for Cause or "Cause" shall mean termination because of the Executive's personal dishonesty, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, conviction of a felony with respect to the Bank or the Company or any material breach of this Agreement. For purposes of this Section, no act, or the failure to act, on the Executive's part shall be "willful" unless done, or omitted to be done, in bad faith and without reasonable belief that the action or omission was in the best interest of the Company or its affiliates. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the written advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Company. Notwithstanding the foregoing, the Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a Notice of Termination which shall include a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to the Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, the Executive was guilty of conduct justifying Termination for Cause and specifying the particulars thereof in detail. The Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause.

  • Termination With Cause means the termination of the Executive’s employment by act of the Board for any of the following reasons:

  • Involuntary Termination means a termination of your employment with the Company pursuant to either (i) a termination initiated by the Company without Cause, or (ii) your resignation for Good Reason, and provided in either case such termination constitutes a Separation from Service. An Involuntary Termination does not include any other termination of your employment, including a termination due to your death or disability.

  • Involuntary Termination Without Cause means Executive’s dismissal or discharge other than for Cause. The termination of Executive’s employment as a result of Executive’s death or disability will not be deemed to be an Involuntary Termination Without Cause.

  • Voluntary Termination means termination by the Employee of the Employee's employment with the Company, excluding termination by reason of Employee's death or disability as described in Sections 2.5 and 2.6.

  • Disability Termination means termination by the Company of the Executive’s employment by reason of the Executive’s incapacitation due to disability. The Executive will be deemed to be incapacitated due to disability if at the end of any month the Executive is unable to perform substantially all of the Executive’s duties under this Agreement in the normal and regular manner due to illness, injury or mental or physical incapacity, and has been unable so to perform for either (i) three consecutive full calendar months then ending, or (ii) 90 or more of the normal working days during the 12 consecutive full calendar months then ending. Nothing in this paragraph alters the Company’s obligations under applicable law, which may, in certain circumstances, result in the suspension or alteration of the foregoing time periods.

  • Termination for Just Cause means termination because of Executive’s personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement.

  • Automatic Termination shall have the meaning set forth in Section 2.3.2.

  • Involuntary Termination of Employment means the Termination of Service by the Company or Subsidiary (other than a termination for Cause) or termination of employment by a Participant Employee for Good Reason.

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • Voluntary Termination for Good Reason means that the Executive voluntarily terminates his employment after any of the following are undertaken without Executive’s express written consent:

  • Termination due to Disability means a termination of the Executive’s employment by the Company because the Executive has been incapable, after reasonable accommodation, of substantially fulfilling the positions, duties, responsibilities and obligations set forth in this Agreement because of physical, mental or emotional incapacity resulting from injury, sickness or disease for a period of (A) six (6) consecutive months or (B) an aggregate of nine (9) months (whether or not consecutive) in any twelve (12) month period. Any question as to the existence, extent or potentiality of the Executive’s disability shall be determined by a qualified physician selected by the Company with the consent of the Executive, which consent shall not be unreasonably withheld. The Executive or the Executive’s legal representatives or any adult member of the Executive’s immediate family shall have the right to present to such physician such information and arguments as to the Executive’s disability as he, she or they deem appropriate, including the opinion of the Executive’s personal physician.

  • Termination Without Cause means termination by the Company other than due to the Executive’s death or disability or Termination With Cause.

  • Termination After Change in Control means either of the following events occurring within twelve (12) months after a Change in Control:

  • Termination for Cause" shall mean termination of the Executive's employment because of:

  • CIC Qualifying Termination means a Separation (A) within twelve (12) months following a Change in Control or (B) within three (3) months preceding a Change in Control (but as to part (B), only if the Separation occurs after a Potential Change in Control) resulting, in either case (A) or (B), from (i) the Company terminating the Executive’s employment for any reason other than Cause or (ii) the Executive resigning his or her employment for Good Reason. A termination or resignation due to the Executive’s death or disability shall not constitute a CIC Qualifying Termination. A “Potential Change in Control” means the date of execution of a legally binding and definitive agreement for a corporate transaction which, if consummated, would constitute the applicable Change in Control (which for the avoidance of doubt, would include, for example, a merger agreement, but not a term sheet for a merger agreement). In the case of a termination following a Potential Change in Control and before a Change in Control, solely for purposes of benefits under this Agreement, the date of Separation will be deemed the date the Change in Control is consummated.

  • Termination Other Than For Cause means termination by the Company of Employee's employment by the Company for reasons other than those which constitute Termination for Cause.

  • Constructive Termination Without Cause means the termination of the Executive’s employment at his initiative after, without the Executive’s prior written consent, one or more of the following events:

  • Due Cause means any of the following events:

  • Termination for Good Reason means a Termination of Employment by Executive for a Good Reason.

  • Death means only death resulting from compensable injury

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.