Common use of Termination as a Result of Death Clause in Contracts

Termination as a Result of Death. In the event of termination pursuant to Section 4.1(a), the Executive's estate or beneficiaries, as the case may be, shall be entitled to receive, in addition to any other payments or benefits hereunder, (i) the proceeds from any insurance policies paid for by the Company in favor of the Executive's estate or beneficiaries, (ii) any Accrued Obligations, and (iii) an amount equal to his earned and unpaid Performance Bonus through the date of termination. Such amounts shall be paid promptly in a lump sum in cash. In addition, all options that are unvested at the date of termination shall vest, and the restriction on any options or stock held by the Executive shall terminate.

Termination as a Result of Death. In the event of termination pursuant to Section 4.1(a), the ExecutiveEmployee's estate or beneficiaries, as the case may be, shall be entitled to receive, in addition to any other payments or benefits hereunder, (i) the proceeds from any insurance policies paid for by the Company in favor of the ExecutiveEmployee's estate or beneficiaries, and (ii) any Accrued Obligations, and (iii) an amount equal to his earned and unpaid Performance Bonus through the date of termination. Such amounts shall be paid promptly in a lump sum in cash. In addition, all options that are unvested at the date of termination shall vest, and the restriction on any options or stock held by the Executive Employee shall terminate.

Termination as a Result of Death. In the event of termination pursuant to Section 4.1(a), the Executive's estate or beneficiaries, as the case may be, shall be entitled to receive, in addition to any other payments or benefits hereunder, (i) the proceeds from any insurance policies paid for by the Company in favor of the Executive's estate or beneficiaries, (ii) any Accrued Obligations, and (iii) an amount equal to his earned and unpaid Performance Bonus through the date of termination. Such amounts shall be paid promptly in a lump sum in cash. In addition, all options that are unvested at the date of termination shall vest, and the restriction on any options or stock held by the Executive shall terminate.

Termination as a Result of Death. In the event of termination pursuant to Section 4.1(a4.01(a), the ExecutiveEmployee's estate or beneficiaries, as the case may be, shall be entitled to receive, in addition to any other payments or benefits hereunder, (i) the proceeds from any insurance policies paid for by the Company in favor of the ExecutiveEmployee's estate or beneficiaries, and (ii) any Accrued Obligations, and (iii) an amount equal to his earned and unpaid Performance Bonus through the date of termination. Such amounts shall be paid promptly in a lump sum in cash. In addition, all stock options that are unvested at the date of termination shall vest, and the restriction on any stock options or stock held by the Executive Employee shall terminate.