Due to Death. In the event of the death of the Executive, this Agreement shall terminate on the date of death and the estate of the Executive shall be entitled to (i) the Executive's Base Salary through the date of death, and (ii) a cash payment equal to the amount of any earned but unpaid Quarterly Bonus in respect of the quarterly period ended prior to the quarter in which his death occurs. In the event of termination due to death, all other rights and benefits the Executive (or his estate) may have under the employee and/or group or executive benefit plans and programs of the Company, generally, shall be determined in accordance with the terms and conditions of such plans and programs.
Appears in 2 contracts
Samples: Employment Agreement (Bayard Drilling Technologies Inc), Employment Agreement (Bayard Drilling Technologies Inc)
Due to Death. In the event of the death of the Executive, this Agreement shall terminate on the date of death and the estate of the Executive shall be entitled to (i) the Executive's Base Salary through the date end of deaththe month in which he died, and (ii) a cash payment equal to the amount pro rata portion (calculated through the end of any earned but unpaid Quarterly Bonus the month in which he died) of the annual bonus, if any, received by the Executive in respect of the quarterly period ended prior to the quarter in which full calendar year next preceding his death occursdeath. In the event of such termination due to death, all other rights and benefits the Executive (or his estate) may have under the employee and/or group or senior executive benefit plans and programs of the Company, generally, shall be determined in accordance with the terms and conditions of such plans and programs.
Appears in 2 contracts
Samples: Employment Agreement (Hollywood Theaters Inc), Employment Agreement (Hollywood Theaters Inc)
Due to Death. In the event of the death of the Executive, this Agreement shall terminate on the date of death and the estate of the Executive shall be entitled to (i) the Executive's Base Salary through the date of death, and (ii) a cash payment equal to the amount of any earned but unpaid Quarterly Bonus in respect of the quarterly period ended prior to the quarter in which his death occurs. In the event of termination due to death, all other rights and benefits the Executive (or his estate) may have under the employee and/or group or executive benefit plans and programs of the Company, generally, shall be determined in accordance with the terms and conditions of such plans and programs.of
Appears in 1 contract
Samples: Employment Agreement (Bayard Drilling Technologies Inc)
