Death, Disability or Termination Sample Clauses

Death, Disability or Termination. In the event of ▇▇▇▇▇▇ Richtler's death or disability, all payments due him under this Agreement shall immediately cease. In the event of death, ▇▇▇▇▇▇ Richtler's legal representative shall be entitled to be paid for all wages, bonuses and commissions earned as of the date of his death. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ shall also be entitled to the benefits of any disability program which may be adopted by SailTech from time to time and for which he is otherwise eligible. In the event of the termination of ▇▇▇▇▇▇ Richtler's employment by SailTech with cause, then ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ shall be owed nothing under this Agreement. In the event that ▇▇▇▇▇▇ Richtler's employment is terminated by SailTech without cause, then ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ shall be entitled to six (6) months' severance from the date of his last employment with SailTech. That six-month severance payment shall be increased by one (1) month for every year that ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ remains employed by SailTech beyond six (6) years. In other words, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ will be entitled to seven (7) months' severance after seven (7) years of employment with SailTech and eight (8) months' severance after eight (8) years of employment with SailTech.

Death, Disability or Termination. Except as otherwise provided in this paragraph, the Option will terminate and may no longer be exercised if your employment or board service at ISS or its Affiliates (as hereinafter defined) terminates. If you die while employed or serving as a director of ISS, the representative of your estate or your heirs will have 12 months from the date of your death to exercise the Option. If your employment or board service terminates due to Disability, you will have 12 months from the date of your termination to exercise the Option. If your employment or board service is terminated without Cause by ISS or an Affiliate, you will have 180 days from the date of your termination to exercise the Option. If you resign or otherwise voluntarily terminate your employment or board service with ISS or an Affiliate, or if you fail to get re-elected by the shareholders of ISS at an annual meeting of shareholders at which you were nominated for re-election to the ISS board of directors, you will have 180 days from the date of your termination to exercise the Option to the extent the Option had vested as of your termination date. In no case, however, may the Option be exercised after the Expiration Date. If your employment or board service with ISS or its Affiliates is terminated for Cause, the entire unexercised portion of the Option will be cancelled as of the date of the act giving rise to such termination.

Death, Disability or Termination. In the event of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇'▇ death or disability or termination, all payments due him under this Agreement shall immediately cease except that he, or his legal representative, shall be entitled to all commissions for sales made directly by him which have resulted in the customer signing a purchase agreement or which do result in the customer signing a purchase agreement within 30 days of the end of his employment.

Death, Disability or Termination. (a) In the event of (i) the death of a Stockholder that is a natural person, (ii) the Disability of a Stockholder that is an employee of the Corporation or any Affiliate of the Corporation or (iii) the occurrence of a Termination Event (any of (i), (ii) or (iii), a “Triggering Event”), the Corporation shall have the option, but not the obligation, to purchase from such Stockholder or his estate, heirs, beneficiaries, legal representatives, or successors in interest (collectively, the “Successors”) any or all Stock held by such Stockholder, the Successors and the Permitted Transferees of such Stockholder at a purchase price equal to (x) in the case of a Triggering Event pursuant to clauses (i) or (ii) above, the fair market value of such Stock as of the purchase date as determined by the Board of Directors in its sole and absolute discretion to the extent permitted by this Agreement or (y) in the case of a Triggering Event pursuant to clause (iii) above, $0.01 per share for such shares of Stock (appropriately adjusted for any stock split, stock dividend, combination or other recapitalization). Notwithstanding the foregoing, with respect to any shares of Common Stock: (x) that are subject to any equity restriction agreement between a Stockholder and the Corporation in effect as of the date hereof, or (y) that were acquired by a Stockholder pursuant to the exercise of options granted pursuant to any option plan authorized by the Board of Directors (the “Option Shares”), to the extent anything in this Section 2.5 conflicts with the applicable option or equity restriction agreement between the Corporation and such Stockholder, such option or equity restriction agreement shall govern the terms and conditions of the treatment of such Common Stock. The following additional provisions shall apply to any repurchase pursuant to this Section 2.5: (i) The foregoing option shall be exercisable by the Corporation by written notice to the Stockholder, Successors or Permitted Transferees, as applicable, within one (1) year of the Triggering Event (in the case of Section 2.5 (i) and (ii)) and within One Hundred Eighty (180) days of the Triggering Event (in the case of Section 2.5 (iii)). (ii) If the purchase price to be paid to the Stockholder, the Successors or the Permitted Transferees, as applicable, is, in the aggregate, in excess of One Hundred Thousand Dollars ($100,000), the Corporation may, in its sole option, pay all or any portion of such purchase price by deliver...

Death, Disability or Termination. Paragraph 3 to the contrary notwithstanding, Shares shall become Vested to the extent provided in Paragraph 4(a) or 4(b). (a) If, prior to the forfeiture of the Shares under Paragraph 6, the Participant dies or becomes Disabled while in the employ of the Company or an Affiliate or terminates employment for Good Reason or is terminated other than for Cause, all Shares that are not then Vested shall become Vested as of the date of the Participant’s death, termination on account of Disability, termination for Good Reason or termination other than for Cause. For purposes of this Agreement, Disability, Good Reason and Cause shall have the same meaning as set forth in the Employment Agreement between the Company and the Participant as in effect on the date hereof (the “Employment Agreement”). (b) If, prior to the forfeiture of the Shares under Paragraph 6, the Participant Retires, all Shares that are not then Vested shall remain outstanding and shall become Vested as provided in Paragraphs 3 and 4(a) as if the Participant did not Retire but continued employment with the Company or an Affiliate; provided, however, that no additional Shares shall become Vested under this Paragraph 4(b) on or after the date that the Participant breaches the covenants against competition set forth in the Employment Agreement. For purposes of this Agreement, Retire or Retirement means the Participant’s resignation from the employ of the Company and its Affiliates on or after attaining age sixty-five or on or after attaining age fifty-five and completion of at least ten years of employment with the Company or an Affiliate (including any predecessor of the Company or an Affiliate).