Common use of Death or Long-Term Disability Clause in Contracts

Death or Long-Term Disability. If, at any time after the Effective Date, the Executive’s employment terminates before the Expiration Date as a result of the Executive’s death or Long-Term Disability, the Executive or his estate (as applicable) shall be entitled to: (i) Immediate payment of any unpaid Base Salary through the date of his death or Long-Term Disability; (ii) If such termination occurs prior to the payment of the Executive’s Annual Bonus payable with respect to the immediately preceding calendar year, immediate payment of the full amount of the Executive’s Annual Bonus for such preceding year; (iii) Immediate payment for any unused, earned vacation days (but not for any unearned vacation days) for the calendar year in which his employment is terminated and for any approved and unexpired carryover days (not to exceed the number of carryover days as approved by the Company) from the prior year; and (iv) Immediate vesting of, and continuation of the ability of the Executive or Executive’s beneficiaries (as applicable) to exercise (as if the Executive remained an active employee of the Company), all awards granted to the Executive under the LTIP prior to his Termination Date, subject to the terms and conditions of the LTIP.