Common use of Payment Upon Death or Disability Clause in Contracts

Payment Upon Death or Disability. Upon the termination of the service of the Unit Holder as a member of the Board due to the death of the Unit Holder or disability of the Unit Holder within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the Board shall have the right to determine whether the Grantee’s termination is attributable to a disability of the Grantee within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended, such determination of the Board to be final and conclusive), while serving in such capacity, all unexercised Units covered hereby that have not vested and become exercisable as of the effective date of the Unit Holder’s termination of service for death or disability shall vest and become immediately exercisable in full effective as of such date of termination of service and the Company shall pay such Unit Holder (or the legal representative of the estate of the deceased Unit Holder or the person or persons who acquire the right to receive payment for a Unit by bequest or inheritance or reason of the death of the Unit Holder; hereinafter “Successor”), in complete satisfaction of all unexercised Units held by such Unit Holder on the date of such termination of such service of the Unit Holder, an amount determined in the manner set forth in Paragraph 2 above as if the Unit Holder had exercised the right and option to be paid for all then unexercised Units held by the Unit Holder on the date of such service termination. Such payment shall be made by the Company to the Unit Holder or the Unit Holder’s Successor, as the case may be, within 30 days after the date of such termination.

Payment Upon Death or Disability. Upon the termination of the service of the Unit Holder as a member of the Board due to the death of the Unit Holder or disability of the Unit Holder within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the Board shall have the right to determine whether the Grantee’s 's termination is attributable to a disability of the Grantee within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended, such determination of the Board to be final and conclusive), while serving in such capacity, all unexercised Units covered hereby that have not vested and become exercisable as of the effective date of the Unit Holder’s termination of service for death or disability shall vest and become immediately exercisable in full effective as of such date of termination of service and (a) the Company shall pay such Unit Holder (or the legal representative of the estate of the deceased Unit Holder or the person or persons who acquire the right to receive payment for a Unit by bequest or inheritance or reason of the death of the Unit Holder; hereinafter “"Successor”"), in complete satisfaction of all fully vested and unexercised Units held by such Unit Holder on the date of such termination of such service of the Unit Holder, an amount determined in the manner set forth in Paragraph 2 above as if the Unit Holder had exercised the right and option to be paid for all then fully vested and unexercised Units held by the Unit Holder on the date of such service termination, and (b) all other Units held by the Unit Holder on the date of such service termination shall terminate and shall become null and void. Such payment shall be made by the Company to the Unit Holder or the Unit Holder’s 's Successor, as the case may be, within 30 days after the date of such termination.

Payment Upon Death or Disability. Upon the termination of the service of the Unit Holder as a member of the Board due to the death of the Unit Holder or disability of the Unit Holder within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the Board shall have the right to determine whether the GranteeUnit Holder’s termination is attributable to a disability of the Grantee Unit Holder within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended, such determination of the Board to be final and conclusive), while serving in such capacity, all unexercised Units covered hereby that have not vested and become exercisable as of the effective date of the Unit Holder’s termination of service for death or disability shall vest and become immediately exercisable in full effective as of such date of termination of service service, and the Company shall pay such Unit Holder (or the legal representative of the estate of the deceased Unit Holder or the person or persons who acquire the right to receive payment for a Unit by bequest or inheritance or reason of the death of the Unit Holder; hereinafter “Successor”), in complete satisfaction of all unexercised Units held by such Unit Holder on the date of such termination of such service of the Unit Holder, an amount determined in the manner set forth in Paragraph 2 above as if the Unit Holder had exercised the right and option to be paid for all then unexercised Units held by the Unit Holder on the date of such service termination. Such payment shall be made by the Company to the Unit Holder or the Unit Holder’s Successor, as the case may be, within 30 days after the date of such termination.

Payment Upon Death or Disability. Upon the termination of the service of the Unit Holder as a member of the Board due to the death of the Unit Holder or disability of the Unit Holder within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the Board shall have the right to determine whether the GranteeUnit Holder’s termination is attributable to a disability of the Grantee Unit Holder within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended, such determination of the Board to be final and conclusive), while serving in such capacity, all unexercised Units covered hereby that have not vested and become exercisable as of the effective date of the Unit Holder’s termination of service for death or disability shall vest and become immediately exercisable in full effective as of such date of termination of service and the Company shall pay such Unit Holder (or the legal representative of the estate of the deceased Unit Holder or the person or persons who acquire the right to receive payment for a Unit by bequest or inheritance or reason of the death of the Unit Holder; hereinafter “Successor”), in complete satisfaction of all unexercised Units held by such Unit Holder on the date of such termination of such service of the Unit Holder, an amount determined in the manner set forth in Paragraph 2 above as if the Unit Holder had exercised the right and option to be paid for all then unexercised Units held by the Unit Holder on the date of such service termination. Such payment shall be made by the Company to the Unit Holder or the Unit Holder’s Successor, as the case may be, within 30 days after the date of such termination.

Payment Upon Death or Disability. Upon the termination of the service of the Unit Holder as a member of the Board due to the death of the Unit Holder or disability of the Unit Holder within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the Board shall have the right to determine whether the GranteeUnit Holder’s termination is attributable to a disability of the Grantee Unit Holder within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended, such determination of the Board to be final and conclusive), while serving in such capacity, all unexercised Units covered hereby that have not vested and become exercisable as of the effective date of the Unit Holder’s termination of service for death or disability shall vest and become immediately exercisable and deemed exercised in full effective as of such date of termination of service and the Company shall pay such Unit Holder (or the legal representative of the estate of the deceased Unit Holder or the person or persons who acquire the right to receive payment for a Unit by bequest or inheritance or reason of the death of the Unit Holder; hereinafter “Successor”), in complete satisfaction of all unexercised Units held by such Unit Holder on the date of such termination of such service of the Unit Holder, an amount determined in the manner set forth in Paragraph 2 above as if the Unit Holder had exercised the right and option to be paid for all then unexercised Units held by the Unit Holder on the date of such service termination. Such payment shall be made by the Company to the Unit Holder or the Unit Holder’s Successor, as the case may be, within 30 days after the date of such termination.