Effect of Death or Disability. 6.01 In the event of the death of the Executive during the Period of Employment, the legal representative of the Executive’s estate shall be entitled to receive a lump sum payment equal to the sum of (i) the Executive’s annual Base Salary and annual Target Bonus amount and (ii) the Fair Market Value of the shares subject to any equity-based compensation awards forfeited as a result of the Executive’s death, less the exercise price, if any, of such forfeited awards. Such payment shall be made as soon as reasonably practical following the Executive’s death and will be without prejudice to any other payments or benefits, if any, due hereunder in respect of the Executive’s death or pursuant to any other plans, agreements or arrangements with the Company.
Appears in 17 contracts
Samples: Executive Change in Control (Frontier Oil Corp /New/), Executive Change in Control (Frontier Oil Corp /New/), Executive Change in Control (Frontier Oil Corp /New/)
