Common use of Benefits Upon Death or Disability Clause in Contracts

Benefits Upon Death or Disability. In the event the Executive’s employment terminates due to the death of the Executive or the Executive becomes disabled (as defined in Section 9.2), the Executive’s estate shall receive a one time grant of the company’s common stock, $.001 par value per share (“Common Stock”), within fifteen (15) days of the termination of the Executive’s employment, for such number of shares as calculated as follows: z = y/x; z = number of shares of Common Stock to be received by the Executive’s estate. y = then current Base Salary. x = the closing trading price of the Common Stock on the date of termination of Executive’s employment due to death or disability of the Executive as reported on the OTCBB or similar public market or in the event there is no public market for the Common Stock, it shall be the fair market value of the Common Stock as determined by an independent valuation expert who has experience in valuing companies in the same industry as the Corporation. The equity compensation plan contemplated by this provision is subject to stockholder approval.

Benefits Upon Death or Disability. In the event the Executive’s employment terminates due to the death of the Executive or the Executive becomes becoming disabled (as defined in Section 9.2), the Executive’s estate shall receive a one time grant of the company’s common stock, $.001 par value per share (“Common Stock”), within fifteen (15) days of the termination of the Executive’s employment, for such number of shares as calculated as follows: z = y/x; z = number of shares of Common Stock to be received by the Executive’s estate. y = then current Base Salary. x = the closing trading price of the Common Stock on the date of termination of Executive’s employment due to death or disability of the Executive as reported on the OTCBB or similar public market or in the event there is no public market for the Common Stock, it shall be the fair market value of the Common Stock as determined by an independent valuation expert who has experience in valuing companies in the same industry as the Corporation. The equity compensation plan contemplated by this provision is subject to stockholder approval.

Benefits Upon Death or Disability. In the event the Executive’s employment terminates due to the death of the Executive or the Executive becomes disabled (as defined in Section 9.28.2), the Executive’s estate shall receive a one time grant of the companyCompany’s common stock, $.001 par value per share (“Common Stock”), within fifteen (15) days of the termination of the Executive’s employment, for such number of shares as calculated as follows: z = y/x; z = number of shares of Common Stock to be received by the Executive’s estate. y = then current Base Salary. x = the closing trading price of the Common Stock on the date of termination of Executive’s employment due to death or disability of the Executive as reported on the OTCBB or similar public market or in the event there is no public market for the Common Stock, it shall be the fair market value of the Common Stock as determined by an independent valuation expert who has experience in valuing companies in the same industry as the Corporation. The equity compensation plan contemplated by this provision is subject to stockholder approval.