Effect of Death While in Employ of Key Sample Clauses

Effect of Death While in Employ of Key. If Mxxxx dies while employed by Key: (a) Key shall pay to Mxxxx’x estate any unpaid Base Salary due or to become due to Mxxxx with respect to any period ending before his death and Key shall have no further obligations to Mxxxx for Base Salary for any period after Mxxxx’x death. (b) Key shall continue to maintain medical (including dental) coverage in effect (i) for the benefit of Mxxxx’x wife, for her lifetime, and (ii) for the benefit of each of Mxxxx’x children, through the earlier of the date on which he or she attains age 23 or has ceased for more than 120 consecutive days to be a full time student, in each case at Key’s sole cost and at the highest levels as had been in effect for the benefit of Mxxxx’x wife and each of his children, as the case may be, at any time before the Termination Date. (c) Upon his death, Mxxxx’x rights under any other plan or benefit of Key shall be governed by the respective terms thereof.
Sample 1
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Effect of Death While in Employ of Key. If Mxxxx dies while employed by Key: (a) Key shall pay to Mxxxx’x estate any unpaid Base Salary due or to become due to Mxxxx with respect to any period ending before his death and Key shall have no further obligations to Mxxxx for Base Salary for any period after Mxxxx’x death. (b) Key shall provide retiree medical plan coverage (i) for the benefit of Mxxxx’x wife, for her lifetime, and (ii) for the benefit of each of Mxxxx’x children, through the earlier of the date on which he attains age 23 or has ceased for more than 120 consecutive days to be a full time student. Within 30 days of Mxxxx’x death, and thereafter, on January 2 of each following Plan year, Key shall provide Mxxxx’x wife (or Mxxxx’x dependent children in the event of Mxxxx’x wife’s death) with a lump sum cash payment that shall equal the annual premium costs that Mxxxx’x wife (or Mxxxx’x dependent children in the event of Mxxxx’x wife’s death) is required to pay, on an after-tax basis, for coverage under the KeyCorp Retiree Medical Plan for herself and her dependents, as adjusted to reflect Key’s subsidized cost-sharing arrangement that is otherwise provided to all similarly situated employees based on Mxxxx’x years of service with Key at the time of his death. Mxxxx’x wife may also elect dental coverage for herself and her dependents under the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, provided that Mxxxx’x wife and dependents assume the cost, on an after-tax basis, for such dental coverage. (c) Upon his death, Mxxxx’x rights under any other plan or benefit of Key shall be governed by the respective terms thereof.
Sample 1
Effect of Death While in Employ of Key. If Meyex xxxs while employed by Key, (a) Key shall pay to Meyex'x xxxate any unpaid Base Salary due or to become due to Meyex xxxh respect to any period ending before his death and (b) Key shall have no further obligations to Meyex xxx Base Salary for any period after Meyex'x xxxth. Upon his death, Meyex'x xxxhts under any plan or benefit of Key shall be governed by the respective terms thereof.
Sample 1
Effect of Death While in Employ of Key. If Gillxxxxx xxxs while employed by Key, (a) Key shall pay to Gillxxxxx'x xxxate any unpaid base salary due or to become due to Gillxxxxx xxxh respect to any period ending before his death, (b) if Gillxxxxx xx survived by his wife, Key shall pay the monthly survivor pension benefit provided for in Section 15, (c) Key shall have no further obligations to Gillxxxxx xxx base salary for any period after Gillxxxxx'x xxxth, and (d) Key shall pay such incentive compensation as is provided for under the Short Term Incentive Compensation Plan and the Long Term Incentive Compensation Plan to Gillxxxxx'x xxxate or as otherwise provided for under such plans.
Sample 1
Effect of Death While in Employ of Key. If Mxxxx dies while employed by Key: (a) Key shall pay to Mxxxx’x estate any unpaid Base Salary due or to become due to Mxxxx with respect to any period ending before his death and Key shall have no further obligations to Mxxxx for Base Salary for any period after Mxxxx’x death. (b) Key shall provide retiree medical plan coverage (i) for the benefit of Mxxxx’x wife, for her lifetime, and (ii) for the benefit of each of Mxxxx’x children, through the earlier of the date on which he or she attains age 23 or has ceased for more than 120 consecutive days to be a full time student. Key shall also provide continued dental coverage under the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, for the benefit of Mxxxx’x wife, and for the benefit of each of Mxxxx’x children. In each case, such benefits shall be provided at Key’s sole cost. (c) Upon his death, Mxxxx’x rights under any other plan or benefit of Key shall be governed by the respective terms thereof.
Sample 1
Effect of Death While in Employ of Key. If Xxxxx dies while employed by Key: (a) Key shall pay to Xxxxx'x estate any unpaid Base Salary due or to become due to Xxxxx with respect to any period ending before his death and Key shall have no further obligations to Xxxxx for Base Salary for any period after Xxxxx'x death. (b) Key shall continue to maintain medical (including dental) coverage in effect (i) for the benefit of Xxxxx'x wife, for her lifetime, and (ii) for the benefit of each of Xxxxx'x children, through the earlier of the date on which he or she attains age 23 or has ceased for more than 120 consecutive days to be a full time student, in each case at Key's sole cost and at the highest levels as had been in effect for the benefit of Xxxxx'x wife and each of his children, as the case may be, at any time before the Termination Date. (c) Upon his death, Xxxxx'x rights under any other plan or benefit of Key shall be governed by the respective terms thereof.
Sample 1

Related to Effect of Death While in Employ of Key

  • Effect of Death or Disability If the Executive's employment is terminated by reason of the Executive's death or Disability during the Term of this Agreement, this Agreement shall terminate automatically on the date of death or, in the event of Disability, on the Date of Termination. In the event of the Executive's death following the Executive's Date of Termination, but prior to the payment of the severance payments and benefits provided under paragraph 4 hereof, if any, such payments and benefits will be paid to the Executive's surviving spouse, or if the Executive has no surviving spouse, then to the Executive's estate.

  • Effect of Death, Resignation, etc of a Trustee. The death, declination, resignation, retirement, removal, or incapacity of one or more Trustees, or all of them, shall not operate to annul the Trust or to revoke any existing agency created pursuant to the terms of this Declaration of Trust. Whenever a vacancy in the Board of Trustees shall occur, until such vacancy is filled as provided in Article IV, Section 1, the Trustees in office, regardless of their number, shall have all the powers granted to the Trustees and shall discharge all the duties imposed upon the Trustees by this Declaration of Trust.

  • Effect on Employment Neither the grant of the Stock Option, nor the issuance of Shares upon exercise of the Stock Option, will give the Optionee any right to be retained in the employ or service of the Company or any of its Affiliates, affect the right of the Company or any of its Affiliates to discharge or discipline such Optionee at any time, or affect any right of such Optionee to terminate his or her Employment at any time.

  • Effect Upon Employment The Participant’s right to continue to serve the Company or any of its subsidiaries as an officer, employee, or otherwise, is not enlarged or otherwise affected by an award under this Agreement. Nothing in this Agreement or the Plan gives the Participant any right to continue in the employ of the Company or any of its subsidiaries or to interfere in any way with any right the Company or any subsidiary may have to terminate his or her employment at any time. Payment of Shares is not secured by a trust, insurance contract or other funding medium, and the Participant does not have any interest in any fund or specific asset of the Company by reason of this Award or the account established on his or her behalf. A Performance Share Unit confers no rights as a shareholder of the Company until Shares are actually delivered to the Participant.

  • in Employment If the total value of this contract is in excess of $10,000, Pur- chaser agrees during its performance as follows:

  • No Effect on Employment Subject to any employment contract with the Employee, the terms of such employment will be determined from time to time by the Company, or the Subsidiary employing the Employee, as the case may be, and the Company, or the Subsidiary employing the Employee, as the case may be, will have the right, which is hereby expressly reserved, to terminate or change the terms of the employment of the Employee at any time for any reason whatsoever, with or without good cause. The transactions contemplated hereunder and the vesting schedule set forth on the first page of this Agreement do not constitute an express or implied promise of continued employment for any period of time. A leave of absence or an interruption in service (including an interruption during military service) authorized or acknowledged by the Company or the Subsidiary employing the Employee, as the case may be, shall not be deemed a Termination of Service for the purposes of this Agreement.

  • RESTRICTIONS ON EMPLOYMENT OF FORMER STATE OFFICER OR EMPLOYEE The Engineer shall not hire a former state officer or employee of a state agency who, during the period of state service or employment, participated on behalf of the state agency in this agreement’s procurement or its negotiation until after the second anniversary of the date of the officer’s or employee’s service or employment with the state agency ceased.

  • Termination on Death or Disability If the employment of the Executive is terminated due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Company shall pay or provide to the Executive (or, if applicable, the Executive’s estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) the following compensation and benefits: (i) The Accrued Obligations, at the times provided and subject to the conditions set forth in Section 8(a)(i) above; (ii) An amount equal to the Cash Bonus at the Target Percentage for which the Executive is eligible for the year in which the Executive’s death or Disability occurs, prorated for the portion of such year during which the Executive was employed by the Company prior to the Executive’s death or termination of employment due to Disability (less any payments in respect of such Cash Bonus related to that performance year received by the Executive during such year), such amount to be paid within thirty (30) days after the Executive’s death or such termination of employment due to Disability; (iii) Any and all outstanding Unvested Shares shall immediately vest and any restrictions thereon shall immediately lapse upon the Executive’s death or termination of employment due to Disability (the acceleration of any other equity incentives granted to the Executive under any equity incentive plan of the Guarantor in connection with the termination of the Executive’s employment due to death or Disability shall be governed by the applicable plan and related grant documents); and (iv) If the Executive is eligible for and elects to receive continued coverage under the Company’s medical and health benefits plan(s) in accordance with the provisions of COBRA for the Executive and, if applicable, the Executive’s eligible dependents, or if the Executive’s eligible dependents are eligible for such continued coverage due to the Executive’s death, then the Company shall reimburse the Executive or such dependents for a period of eighteen (18) months following the Executive’s termination of employment due to death or Disability (or, if less, for the period that the Executive or any such dependent is eligible for such COBRA continuation coverage) for the excess of (A) the amount that the Executive or any such dependent is required to pay monthly to maintain such continued coverage under COBRA, over (B) the amount that the Executive would have paid monthly to participate in the Company’s group health benefits plan(s) had the Executive continued to be an employee of the Company.

  • Effect of Death, Resignation, etc. of a Trustee The death, resignation, retirement, removal, incapacity, or inability of the Trustees, or any one of them, shall not operate to terminate the Trust or any Series or to revoke any existing trust or agency created pursuant to the terms of this Trust Instrument.

  • Termination on Death This Occupation Right Agreement shall terminate upon the death of the Resident, or, where two Residents have jointly signed this Occupation Right Agreement, upon the death of the surviving Resident. No notice of termination is required if the reason for termination is because the last surviving Resident has died.

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