Death or Disability Benefit. Following the death or Disability of Employee while employed by the Company, the Company will provide Employee (or, in the case of death, Employee’s estate) a lump sum amount payable within thirty (30) days thereafter, equal to: (A) Employee’s salary for twelve (12) months; (B) an amount equal to 100% of the average of (x) the annual bonus he was paid for the year immediately preceding the termination and (y) his Target Bonus under the Company’s then-current bonus plan, if any, less standard payroll deductions and withholdings; plus (C) the cost of such COBRA premiums to continue health insurance coverage at the same level of coverage for Employee and his dependents (if applicable) in effect as of the termination date, through the end of twelve (12) months. All restricted stock and stock option grants that Employee has then received from the Company or may in the future receive from the Company shall be vested as to half of the unvested shares (or such greater amount, if any, as is provided for in the agreement for the applicable grant), and all such stock options shall, notwithstanding any lesser period, if any, provided for in the agreement for the applicable grant, be exercisable for one (1) year following such termination (but not exceeding the term of such option).
Death or Disability Benefit. DEATH: If the Annuitant dies while an Account for the Annuitant is being maintained under the Contract, AXA Equitable, upon receipt of due proof of death will pay, the Cash Value of the Annuitant's Accounts as of the date such due proof is received, in a single sum to the beneficiary designated by the Annuitant to receive such payment. Due proof of death must be received by AXA Equitable at the AXA Equitable office address on the Data Pages, or any other address AXA Equitable designates in written notice to the Annuitant. Under either of the following two circumstances, the Death Benefit under this Section 3.11 of the Contract will not be paid at the Annuitant's death and the coverage under the Contract will continue if:
(1) The Annuitant is married at the time of his or her death; the designated beneficiary under Section 5.04 of the Contract is the surviving spouse; and the surviving spouse elects to treat the IRA as his or her own IRA pursuant to Section 4.05B(e).
(2) Also, a Death Benefit will not be paid under this Section 3.11 if the "Beneficiary Continuation Option" under Section 3.13 is in effect.
Death or Disability Benefit. Upon the Executive's Separation --------------------------- from Service by reason of Disability or the Executive's death prior to his Normal Retirement Age, the Bank shall pay to the Executive the benefit described in this Section 2.3 instead of any other benefit under this Agreement.
Death or Disability Benefit. Following the death or Disability of Employee while employed by the Company, the Company will provide Employee (or, in the case of death, Employee’s estate) a lump sum amount, payable within thirty (30) days thereafter, equal to: (A) Employee’s salary for twelve (12) months; (B) an amount equal to 150% of the average of (x) the annual bonus he was paid for the year immediately preceding the termination and (y) his target bonus under the Company’s then-current bonus plan if any, less standard payroll deductions and withholdings; plus (C) the cost of such COBRA premiums to continue health insurance coverage at the same level of coverage for Employee and his dependents (if applicable) in effect as of the termination date, through the end of twelve (12) months. All restricted stock or stock option grants that Employee previously has received or may in the future receive from the Company, shall be vested as to half of the unvested shares, and all such stock options shall be exercisable for one (1) year following such termination (but not exceeding the term of such option).
Death or Disability Benefit. Following the death or Disability of Employee while employed by the Company, the Company will provide Employee (or, in the case of death, Employee’s estate) a lump sum amount payable within thirty (30) days thereafter, equal to: (A) Employee’s salary for twelve (12) months; (B) an amount equal to 100% of the average of (x) the annual bonus he was paid for the year immediately preceding the termination and (y) his target bonus under the Company’s then-current bonus plan if any, less standard payroll deductions and withholdings; plus (C) the cost of such COBRA premiums to continue health insurance coverage at the same level of coverage for Employee and his dependents (if applicable) in effect as of the termination date, through the end of twelve (12)
Death or Disability Benefit. Following the death or Disability of Employee while employed by the Company, the Company will provide Employee (or, in the case of death, Employee’s estate) a lump sum amount payable within thirty (30) days thereafter, equal to: (A) Employee’s salary for six (6) months; plus (B) the cost of COBRA premiums to continue health insurance coverage at the same level of coverage for Employee and his dependents (if applicable) in effect as of the termination date, through the end of six (6) months. All restricted stock and stock option grants that Employee has then received from the Company or may in the future receive from the Company shall be vested as to half of the unvested shares (or such greater amount, if any, as is provided for in the agreement for the applicable grant), and all such stock options shall, notwithstanding any lesser period, if any, provided for in the agreement for the applicable grant, be exercisable for one (1) year following such termination (but not exceeding the term of such option).
Death or Disability Benefit. If the Employee’s Service is terminated by death or disability at any time, in lieu of the supplemental retirement benefit a death benefit equal in amount to the supplemental retirement benefit shall be paid by the Company to the Employee’s spouse, Sxxxxx X. XxXxxx (if she survives) during her lifetime. Such benefit shall be paid monthly for a period not to exceed one hundred twenty (120) months, commencing on the Employee’s Benefit Commencement Date.
Death or Disability Benefit. Following the death or Disability of Employee while employed by the Company, the Company will provide Employee (or, in the case of death, Employee’s estate) a lump sum amount payable within thirty (30) days thereafter (or such longer period, not to exceed sixty (60) days, needed to satisfy the Severance Conditions), equal to: (A) $800,000 in cash, less standard payroll deductions and withholdings; plus (B) the cost of such COBRA premiums to continue health insurance coverage at the same level of coverage for Employee and his dependents (if applicable) in effect as of the termination date, through the end of twelve (12) months. All restricted stock and stock option grants that Employee has then received from the Company or may in the future receive from the Company, shall be vested as to half of the unvested shares (or such greater amount, if any, as is provided for in the agreement for the applicable grant), and all such stock options shall, notwithstanding any lesser period, if any, provided for in the agreement for the applicable grant, be exercisable for one (1) year following such termination (but not exceeding the term of such option). Notwithstanding the foregoing, if Employee’s death or Disability occurs after the ICS Closing, then the vesting of Employee’s February 2011 Restricted Shares shall be accelerated in full.
Death or Disability Benefit. In the event that Executive's service with the Company terminates pursuant to Section 12(a) or (b) after a Change of Control has occurred, the Executive or his Beneficiary (as defined below), as the case may be, shall receive a lump sum payment which is Actuarially Equivalent to the Supplemental Retirement Benefit accrued by Executive determined as of the date immediately preceding Executive's termination of service with the Company pursuant to Section 12(a) or (b).
Death or Disability Benefit. If Consultant dies or is incapacitated during the term of this Agreement, the compensation provided for herein shall nevertheless be due and payable to Consultant or his estate, in lieu thereof and Company hereby waives any right to make any claim against the Shares previously delivered to Consultant in accordance with the terms hereof.
