Death and Permanent Disability. Upon the death or permanent disability of the Executive during the Term, the employment relationship created pursuant to this Agreement will immediately terminate, the Term will end, and amounts will only be payable under this Agreement as specified in this Section 7.B. Should Executive’s employment with the Company terminate by reason of Executive’s death or permanent disability during the Employment Period, Executive, or Executive’s estate, shall be entitled to receive:
(i) the unpaid Base Salary earned by Executive pursuant to Section 3.A for services rendered through the date of Executive’s death or permanent disability, as applicable, payable in accordance with the Company’s normal payroll practices for terminated salaried employees plus all of Executive’s accrued paid time off or vacation;
(ii) an amount equal to the Base Salary the Executive would have earned in the 60 day period following Executive’s death or permanent disability, assuming said death or disability had not occurred;
(iii) reimbursement of all expenses for which Executive is entitled to be reimbursed pursuant to Section 6, payable in accordance with the Company’s normal reimbursement practices;
(iv) the right to continue health care benefits under the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended, at Executive’s cost, to the extent required and available by law and subject to the Company continuing to maintain a group health plan;
(v) any accrued but unpaid Bonus pursuant to Section 3.B, payable at such time as provided in Section 3.B;
(vi) pro-rata vesting of the restricted stock award set forth in Section 4.A calculated as if the restricted stock had vested and become unrestricted on a monthly basis. By way of example, if Executive becomes permanently disabled one year after the execution of this Agreement, 25% of his restricted stock shall immediately vest and become unrestricted. By way of further example, if Executive becomes permanently disabled two years and two months after the execution of this Agreement, 54.17% of his restricted stock shall immediately vest and become unrestricted (2.083% vesting per month x 26 months).
(vii) the limited death, disability, and/or income continuation benefits provided under Section 5.C, if any, will be payable in accordance with the terms of the plans pursuant to which such limited death or disability benefits are provided. Compensation and benefits provided pursuant to Section 7.B.(i) through 7.B.(vi) are collectively r...
Death and Permanent Disability. Upon Employee's death or permanent disability during the Employment Period, the employment relationship created pursuant to this Agreement will immediately terminate and no further compensation will become payable to Employee pursuant to Section 6 or Section 7. Should Employee's employment with the Company terminate by reason of Employee's death or permanent disability during the Employment Period, (i) the unpaid base salary earned by Employee pursuant to Section 6.A for services rendered through the date of Employee's death or permanent disability, as applicable, (ii) any accrued but unpaid compensation pursuant to Section 6.C determined by the Compensation Committee, in its sole direction, to have been earned in respect of the immediately preceding calendar year ("Bonus Amount") as of the date of death or permanent disability, (iii) any accrued but unpaid paid time off ("PTO"), if any, (iv) unreimbursed amounts under Section 7.A, and (v) the limited death, disability, and/or income continuation benefits provided under Section 7.B, if any, will be payable within thirty (30) days of the death or permanent disability, excluding any Bonus Amount, which will be paid in accordance with Section 6.C. For purposes of this Agreement, Employee will be deemed "permanently disabled" if Employee is so characterized pursuant to the terms of the Company's disability policies or programs applicable to Employee from time to time, or if no such policy is applicable, if Employee is unable to perform his duties or responsibilities to the Company as a result of physical or mental ailment or incapacity for an aggregate period of one hundred and eighty (180) calendar days (whether or not consecutive).
Death and Permanent Disability. In the event of the Employee's death, any amount payable or distributable to the Employee pursuant hereto from rights and benefits accrued to and through the date of his death shall be paid at the time or times indicated in such Section to the beneficiary designated by the Employee for purposes of his group term life insurance coverage with PlayCore Wisconsin and, if no beneficiary is designated for such purposes or if no group term life insurance is then in effect, to the Employee's estate. In the event that Employee's employment is terminated due to Permanent Disability, Employee shall be entitled to accrued compensation through the Termination Date and any other benefits (if any) to which Employee may be entitled under PlayCore Wisconsin's benefit plans, programs and policies as then in effect.
Death and Permanent Disability. Upon termination of Executive’s employment with the Company due to death or permanent disability during the Term, the employment relationship created pursuant to this Agreement will immediately terminate, the Term will end and amounts will only be payable under this Agreement as specified in this Section 8.B. Should Executive’s employment with the Company terminate by reason of Executive’s death or permanent disability during the Term, Executive, or Executive’s estate, shall be entitled to receive:
a. the unpaid Base Salary earned by Executive pursuant to Section 4.A for services rendered through the date of Executive’s death or permanent disability, as applicable, payable in accordance with the Company’s normal payroll practices for terminated salaried employees;
b. reimbursement of all expenses for which Executive is entitled to be reimbursed pursuant to Section 6, payable in accordance with the Company’s normal reimbursement practices;
c. the right to continue health care benefits under the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended, COBRA or Executive subsidized, to the extent required and available by law and subject to the Company continuing to maintain a group health plan;
d. the limited death, disability, and/or income continuation benefits provided under Section 6.C, if any, will be payable in accordance with the terms of the plans pursuant to which such limited death or disability benefits are provided. Compensation and benefits provided pursuant to Section 8.B.a. through d. are collectively referred to as the “Accrued Obligations.” If Executive’s death occurs before payment of any earned Performance Bonus, the applicable payments will be made to the Executive’s estate. For purposes of this Agreement, Executive will be deemed “permanently disabled” if Executive is so characterized pursuant to the terms of the Company’s disability policies or programs applicable to Executive from time to time, or if no such policy or program is applicable, if the Compensation Committee determines, in its sole discretion, that Executive is unable to perform the essential functions of Executive’s duties for physical or mental reasons for ninety (90) days in any twelve-month period.
Death and Permanent Disability. Upon Employee’s death or permanent disability during the Employment Period, the employment relationship created pursuant to this Agreement will immediately terminate. Should Employee’s employment with the Company terminate by reason of Employee’s death or permanent disability during the Employment Period, the unpaid base salary earned by Employee pursuant to Section 5.B for services rendered through the date of Employee’s death or permanent disability, as applicable, the accrued but unpaid PTO earned under Section 6.C through the date of Employee’s death or permanent disability, and the limited death, disability, and/or income continuation benefits provided under Section 6.B, if any, will be payable in accordance with the terms of the plans pursuant to which such limited death or disability benefits are provided. Additionally, any amount then due under Section 5.A and any amount which may have then been approved for payment under Section 5.C shall be paid upon such termination of employment. For purposes of this Agreement, Employee will be deemed “permanently disabled” if Employee is so characterized pursuant to the terms of the Company’s disability policies or programs applicable to Employee from time to time, or if no such policy is applicable, if Employee is unable to perform the essential functions of Employee’s duties for physical or mental reasons for thirty (30) consecutive days.
Death and Permanent Disability. Each Member who is a natural Person and each Member that is a trust agree for that Member and the Member’s legal representatives or successors (including the successor trustee (or trustees) of a trust holding the Shares pursuant to a Permitted Trust Transfer) that on the death or Permanent Disability of that Member who is a natural Person or of the natural Person who is trustee of such trust, an offer to sell all of the Member’s Shares will be deemed to have been made pursuant to section 10.6 and the Company and the other Members shall have the option to acquire those Shares in the manner set forth in section 10.6.
Death and Permanent Disability. Notwithstanding anything to the contrary set forth in this Exhibit A or the Award Agreement, if the Participant’s Service terminates as a result of the Participant’s death or Permanent Disability: (a) with respect to any then-outstanding PSUs for which the applicable Performance Period has ended, the Participant will vest in such PSUs based on the level of actual achievement of the applicable performance goal, and (b) with respect to any then-outstanding PSUs for which the applicable Performance Period has not yet ended, the Participant will vest in the number of such PSUs that would vest or become eligible to vest at the “Target” level of achievement, as determined pursuant to the tables in Sections 1 and 2 of this Exhibit A.
Death and Permanent Disability. Subject to Sections 3.13 and 4.2, if Xx. Xxxxxxxxxx’x employment is terminated by reason of Death or Permanent Disability, Xx. Xxxxxxxxxx’x estate, in the case of death, or Xx. Xxxxxxxxxx (or his legal guardian), in the case of Permanent Disability, shall be entitled to payment of (i) the amounts described in clauses (i), (ii), (iii) and (iv) of Section 3.2 paid as described in Section 3.2, plus (ii) a pro rata portion of the Target Bonus for the year in which such termination occurs, which portion shall be based on the portion of such year that Xx. Xxxxxxxxxx was employed by the Company prior to the effective date of the termination of employment, paid on the date that is 60 days after the effective date of termination of employment; provided that, in the case of Permanent Disability and Xx. Xxxxxxxxxx’x health permitting, Xx. Xxxxxxxxxx has executed the Severance Agreement and Release no later than 7 days prior to such payment date.
Death and Permanent Disability. In the event of the Executive's death or permanent disability, the Executive shall receive such payments hereunder as shall be awarded to him by a majority of the Board as determined in its sole and complete discretion after taking into consideration all of the relevant circumstances. The Board decision in this regard shall be final and binding on the parties hereto.
Death and Permanent Disability. Upon Employee’s death or permanent disability during the Employment Period, the employment relationship created pursuant to this Agreement will immediately terminate. Should Employee’s employment with the Company terminate by reason of Employee’s death or permanent disability during the Employment Period, the unpaid base salary earned by Employee pursuant to Section 5.A for services rendered through the date of Employee’s death or permanent disability, as applicable, the accrued but unpaid PTO earned under Section 6.C through the date of Employee’s death or permanent disability, and the limited death, disability, and/or income continuation benefits provided under Section 6.B, if any, will be payable in accordance with the terms of the plans pursuant to which such limited death or disability benefits are provided. For purposes of this Agreement, Employee will be deemed “permanently disabled” if Employee is so characterized pursuant to the terms of the Company’s disability policies or programs applicable to Employee from time to time, or if no such policy is applicable, if Employee is unable to perform the essential functions of Employee’s duties for physical or mental reasons for thirty (30) consecutive days.
