Death or Complete Disability. If Executive's employment shall be terminated by death or Complete Disability, Executive (or his heirs or legal representative) shall be entitled to Executive's Base Salary and accrued and unused vacation earned through the 30th day following the date of termination, subject to standard deductions and withholdings. In addition, upon Executive's (or his heirs or legal representative) furnishing to the Company an executed waiver and release of claims (a form of which is attached hereto as Exhibit B, which will be revised for signature by Executive's heirs or legal representative if applicable), Executive (or his heirs or legal representative) shall be entitled to: 4.1.1. a pro rated portion of his Incentive Compensation that would be payable to the Executive based on projected Company performance through the termination date, less standard deductions and with- holdings; 4.1.2. exercise any options to purchase stock (common or otherwise) in the Company granted to Executive pursuant to any plan, agreement or otherwise, or any equivalent or similar rights which appreciate or tend to appreciate as the value of the Company's stock appreciates, such options and rights to be in accordance with the terms of any applicable plan or agreement; provided, however, that the Executive or his estate or legal representative shall have a period of 90 days following the date of termination within which to exercise or satisfy all such options or rights; and 4.1.3. in the event Executive (or his heirs or legal representative) elects continued coverage under COBRA, reimbursement to the Executive (or his heirs or legal representative) for the same portion of Executive's COBRA health insurance premium that it paid during Executive's employment until the last day of Executive's COBRA health insurance benefits.
Appears in 2 contracts
Samples: Employment Agreement (Dyncorp), Employment Agreement (Dyncorp)
Death or Complete Disability. If Executive's employment shall be terminated by death or Complete Disability, Executive (or his heirs or legal representative) shall be entitled to Executive's Base Salary and accrued and unused vacation earned through the 30th day following the date of termination, subject to standard deductions and withholdings. In addition, upon Executive's (or his heirs or legal representative) furnishing to the Company an executed waiver and release of claims (a form of which is attached hereto as Exhibit B, which will be revised for signature by Executive's heirs or legal representative if applicable), Executive (or his heirs or legal representative) shall be entitled to:
4.1.1. a pro rated portion of his Incentive Compensation that would be payable to the Executive based on projected Company performance through the termination date, less standard deductions and with- holdingswithholdings;
4.1.2. exercise any options to purchase stock (common or otherwise) in the Company granted to Executive pursuant to any plan, agreement or otherwiseother- wise, or any equivalent or similar rights which appreciate or tend to appreciate as the value of the Company's stock appreciates, such options and rights to be in accordance with the terms of any applicable plan or agreement; provided, however, that the Executive or his estate or legal representative shall have a period of 90 days following the date of termination within which to exercise or satisfy all such options or rights; and
4.1.3. in the event Executive (or his heirs or legal representative) elects continued coverage under COBRA, reimbursement to the Executive (or his heirs or legal representative) for the same portion of Executive's COBRA health insurance premium that it paid during Executive's employment until the last day of Executive's COBRA health insurance benefits.
Appears in 1 contract
Samples: Employment Agreement (Dyncorp)
Death or Complete Disability. If Executive's employment shall be terminated by death or Complete Disability, Executive (or his heirs or legal representative) shall be entitled to Executive's Base Salary and accrued and unused vacation earned through the 30th day following the date of termination, subject to standard deductions and withholdings. In addition, upon Executive's (or his heirs or legal representative) furnishing to the Company an executed waiver and release of claims (a form of which is attached hereto as Exhibit B, which will be revised for signature by Executive's heirs or legal representative if applicable), Executive (or his heirs or legal representative) shall be entitled to:
4.1.1. a pro rated portion of his Incentive Compensation that would be payable to the Executive based on projected Company performance through the termination date, less standard deductions and with- holdingswithholdings;
4.1.2. exercise any options to purchase stock (common or otherwise) in the Company granted to Executive pursuant to any plan, agreement or otherwise, or any equivalent or similar rights which appreciate or tend to appreciate as the value of the Company's stock appreciates, such options and rights to be in accordance with the terms of any applicable plan or agreement; provided, however, that the Executive or his estate or legal representative shall have a period of 90 days following the date of termination within which to exercise or satisfy all such options or rights; and
4.1.3. in the event Executive (or his heirs or legal representative) elects continued coverage under COBRA, reimbursement to the Executive (or his heirs or legal representative) for the same portion of Executive's COBRA health insurance premium that it paid during Executive's employment until the last day of Executive's COBRA health insurance benefits.
Appears in 1 contract
Samples: Employment Agreement (Dyncorp)