Due to Death. If Executive dies during the period of employment, Executive’s employment with Company shall terminate as of the end of the calendar month in which the death occurs. Company shall have no obligation to Executive or Executive’s estate for Base Compensation or other form of compensation or benefit other than amounts accrued through the date of Executive’s death, except as otherwise required by law or by benefit plans provided at Company expense. In the event of the termination of Executive’s employment due to Executive’s death or Disability, Executive or Executive’s legal representatives, as the case may be, shall be entitled to: (a) In the case of death, unpaid Base Compensation earned or accrued through Executive’s date of death and continued Base Compensation at a rate in effect at the time of death, for a period of (3) three months after which Executive’s death occurs, or the end of the employment term, which ever is the lesser amount. (b) Any performance or special incentive bonus earned but not yet paid; (c) A pro rata performance bonus for the year in which employment terminates due to death or Disability based on the performance of Company for the year during which such termination occurs or, if performance results are not available, based on the performance bonus paid to Executive for the prior year; and (d) Any other compensation and benefits to which Executive or Executive’s legal representatives may be entitled under applicable plans, programs and agreements of Company to the extent permitted under the terms thereof, including, without limitation, life insurance as provided in Section 3.8 above.
Appears in 3 contracts
Samples: Employment Agreement (Vertical Computer Systems Inc), Employment Agreement (Vertical Computer Systems Inc), Employment Agreement (Vertical Computer Systems Inc)
Due to Death. If Executive dies during the period of employment, Executive’s 's employment with Company shall terminate as of the end of the calendar month in which the death occurs. Company shall have no obligation to Executive or Executive’s 's estate for Base Compensation or other form of compensation or benefit other than amounts accrued through the date of Executive’s 's death, except as otherwise required by law or by benefit plans provided at Company expense. In the event of the termination of Executive’s 's employment due to Executive’s 's death or Disability, Executive or Executive’s 's legal representatives, as the case may be, shall be entitled to:
(a) In the case of death, unpaid Base Compensation earned or accrued through Executive’s 's date of death and continued Base Compensation at a rate in effect at the time of death, for a period through the end of six (36) three months after which Executive’s 's death occurs, occurs or the end of the employment term, which ever is the lesser amount.
(b) Any performance or special incentive bonus earned but not yet paid;
(c) A pro rata performance bonus for the year in which employment terminates due to death or Disability based on the performance of Company for the year during which such termination occurs or, if performance results are not available, based on the performance bonus paid to Executive for the prior year; and
(d) Any other compensation and benefits to which Executive or Executive’s 's legal representatives may be entitled under applicable plans, programs and agreements of Company to the extent permitted under the terms thereof, including, without limitation, life insurance as provided in Section 3.8 abovehereof.
Appears in 1 contract
Samples: Employment Agreement (Vertical Computer Systems Inc)
Due to Death. If Executive dies during the period of employment, Executive’s 's employment with Company shall terminate as of the end of the calendar month in which the death occurs. Company shall have no obligation to Executive or Executive’s 's estate for Base Compensation or other form of compensation or benefit other than amounts accrued through the date of Executive’s 's death, except as otherwise required by law or by benefit plans provided at Company expense. In the event of the termination of Executive’s 's employment due to Executive’s 's death or Disability, Executive or Executive’s 's legal representatives, as the case may be, shall be entitled to:
(a) In the case of death, unpaid Base Compensation earned or accrued through Executive’s 's date of death and continued Base Compensation at a rate in effect at the time of death, for a period of (3) three months after which Executive’s 's death occurs, or the end of the employment term, which ever is the lesser amount.
(b) Any performance or special incentive bonus earned but not yet paid;
(c) A pro rata performance bonus for the year in which employment terminates due to death or Disability based on the performance of Company for the year during which such termination occurs or, if performance results are not available, based on the performance bonus paid to Executive for the prior year; and
(d) Any other compensation and benefits to which Executive or Executive’s 's legal representatives may be entitled under applicable plans, programs and agreements of Company to the extent permitted under the terms thereof, including, without limitation, life insurance as provided in Section 3.8 above.
Appears in 1 contract
Samples: Employment Agreement (Vertical Computer Systems Inc)
Due to Death. If Executive dies during the period of employment, Executive’s 's employment with Company shall terminate as of the end of the calendar month in which the death occurs. Company shall have no obligation to Executive or Executive’s 's estate for Base Compensation or other form of compensation or benefit other than amounts accrued through the date of Executive’s 's death, except as otherwise required by law or by benefit plans provided at Company expense. In the event of the termination of Executive’s 's employment due to Executive’s 's death or Disability, Executive or Executive’s 's legal representatives, as the case may be, shall be entitled to:
(a) In the case of death, unpaid Base Compensation earned or accrued through Executive’s 's date of death and continued Base Compensation at a rate in effect at the time of death, for a period through the end of one (31) three months calendar year after which Executive’s 's death occurs, occurs or the end of the employment term, term which ever is the lesser amount.
(b) Any performance or special incentive bonus earned but not yet paid;
(c) A pro rata performance bonus for the year in which employment terminates due to death or Disability based on the performance of Company for the year during which such termination occurs or, if performance results are not available, based on the performance bonus paid to Executive for the prior year; and
(d) Any other compensation and benefits to which Executive or Executive’s 's legal representatives may be entitled under applicable plans, programs and agreements of Company to the extent permitted under the terms thereof, including, without limitation, life insurance as provided in Section 3.8 4.5 above.
Appears in 1 contract
Samples: Employment Agreement (Vertical Computer Systems Inc)