Common use of Termination Because of Executive’s Death Clause in Contracts

Termination Because of Executive’s Death. In the event of Executive’s death during the term of this Agreement, this Agreement shall automatically terminate. The Company shall pay to Executive’s estate all Accrued Obligations through the date of death, and Executive’s estate shall be entitled to receive any vested benefits under the terms of any Company Benefit Plans.

Appears in 3 contracts

Samples: Employment Agreement (New Century Financial Corp), Employment Agreement (New Century Financial Corp), Employment Agreement (New Century Financial Corp)

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Termination Because of Executive’s Death. In the event of Executive’s death during the term of this Agreement, this Agreement Executive’s employment by the Company shall automatically terminate. The Company shall pay to Executive’s estate all Accrued Obligations through the date of death, and Executive’s estate shall be entitled to receive any vested benefits under the terms of any Company Benefit Plans, but Executive (and his estate) shall have no right to receive any additional salary or payments under this Agreement.

Appears in 1 contract

Samples: Employment Agreement (New Century Financial Corp)

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Termination Because of Executive’s Death. In the event of Executive’s 's death during the term of this Agreement, this Agreement shall automatically terminate. The Company shall pay to Executive’s 's estate all Accrued Obligations through the date of death, and Executive’s 's estate shall be entitled to receive any vested benefits under the terms of any Company Benefit Plans.

Appears in 1 contract

Samples: Employment Agreement (New Century Financial Corp)

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