Termination by Death of Executive. If Executive dies during the Employment Period, the Corporation will pay to such Person or Persons as Executive may designate in writing or, in the absence of such designation, to the estate of Executive (as the case may be, the “Estate”) the sum of (i) accrued but unpaid Salary earned prior to Executive’s death, (ii) expenses incurred by Executive prior to his death for which Executive is entitled to reimbursement pursuant to and in accordance with Section 2.5(c), and (iii) a pro-rata portion of the Annual Bonus for the year in which Executive’s death occurs, to the extent earned (such amount to be calculated by determining the amount of the Annual Bonus earned as of the end of the year in which the death occurs and pro-rating such amount by the portion of such year Executive was employed by the Corporation), plus, if Executive’s death occurs after year-end but before the Annual Bonus for the preceding year is paid, the Annual Bonus for the preceding year, to the extent earned. The payments described in clauses (i) and (ii) in the preceding sentence will be made within 45 calendar days following the date of Executive’s death. Any Annual Bonus will be paid as and at such times as Executive would have otherwise received his Annual Bonus had he remained an employee of the Corporation. This Agreement in all other respects will terminate upon the death of Executive, and all rights of Executive and his heirs, legatees, descendants, testamentary executors, and testamentary administrators regarding compensation and other benefits under this Agreement shall cease.
Termination by Death of Executive. In the event of Executive's death, the Company will pay to such Person or Persons as Executive may designate in writing or, in the absence of such designation, to the estate of Executive, the sum of (A) accrued but unpaid Salary through the date of Executive's death, (B) all unreimbursed expenses incurred in accordance with this Agreement prior to such termination, (C) bonus as described in Section 1.3 that is accrued but unpaid prior to Executive's death and (D) an amount of life insurance benefit provided to Executive by the Company equal to three (3) times Executive's then current Salary. Any such insurance benefit payment contemplated hereby will be made within ten calendar days following the insurance payment date under the applicable policies of insurance and the amounts contemplated by clauses (A) and (B) will be paid within 45 calendar days following the date of such death and the amount contemplated by clause (C) will be paid within ten calendar days after the Company has made a reasonably prompt determination of Precision's financial performance up to the Termination Date. Additionally, in the event of Executive's death the Company will provide to Executive such benefits described in Section 1.6(a) that have accrued prior to the Termination Date and which are subject to continuance after the Termination Date in accordance with the terms of such benefits. Other than (x) as set forth in Section 1.5 or otherwise in the LLC Agreement, (y) with respect to any obligations of the Company to indemnify Executive or to cause PPHC or LLC or any Affiliate to indemnify Executive or (z) as set forth in Section 1.8(e), and, except as provided in this subparagraph (iv), this Agreement in all other respects will terminate upon the death of Executive and the payments to be made in accordance with this Section 1.8(a)(iv) will constitute exclusive liquidated damages payable as a result of the termination of Executive's employment by reason of death.
Termination by Death of Executive. If Executive dies during the Employment Period, the Company will pay to such Person or Persons as Executive may designate in writing or, in the absence of such designation, to the estate of Executive, the sum of (i) accrued but unpaid Salary earned prior to Executive’s death, (ii) accrued but unused vacation earned prior to Executive’s death, (iii) all unreimbursed expenses incurred by Executive prior to her death, (iv) all benefits they are entitled to under the terms of the Company’s benefit plans and programs by reason of a participant’s death during active employment, including applicable rights and benefits under the Company’s equity plans. Notwithstanding anything to the contrary contained in the Company’s equity plan documents or in this paragraph, upon Executive’s death one hundred percent (100%) of Executive’s unvested Company Stock Options, if any, will be deemed vested.
Termination by Death of Executive. If Executive dies during the Employment Period, the Company will pay to such Person or Persons as Executive may designate in writing or, in the absence of such designation, to the estate of Executive, the sum of (i) accrued but unpaid Salary earned prior to Executive’s death, and (ii) expenses incurred by Executive prior to her death for which Executive is entitled to reimbursement pursuant to Section 2.5(c) and (iii) one (1)times the Executive’s annual Base Salary at the time of her death. Such payment will be made within 45 calendar days following the date of Executive’s death. This Agreement in all other respects will terminate upon the death of Executive and all rights of Executive and her heirs, testamentary executors and testamentary administrators regarding compensation and other benefits under this Agreement shall cease.
Termination by Death of Executive. Executive’s employment shall terminate automatically upon Executive’s death, in which case Executive shall be entitled to receive the Accrued Obligations and any annual bonus earned but unpaid with respect to a performance year ending on or preceding the date of termination, payable as provided in Section 3.d. (without regard to any continued employment requirement but subject to all other applicable program terms and conditions and paid if, as and when paid to other senior Bank executives). Thereafter all obligations of the Bank under this Agreement shall cease. In addition, pursuant to the terms of the Equity Plan, all unvested RSUs that have been granted prior to the date of death shall immediately vest. Nothing in this Section shall affect any entitlement of Executive’s heirs or devisees to the benefits of any life insurance plan or other applicable benefits.
Termination by Death of Executive. 5.5 This Agreement shall terminate upon the death of the Executive.
Termination by Death of Executive. If the Executive dies, this Agreement will be considered frustrated at law and terminated by that death and the Corporation will not be required to pay any amounts to any heir or estate of the Executive except the Accrued Obligations owing by the Corporation to the Executive as of the date of the Executive’s death.
Termination by Death of Executive. Executive’s employment shall terminate automatically upon Executive’s death, in which case Executive shall be entitled to receive (i) the Accrued Obligations, and (ii) any “Unpaid Cash Bonus.” "Unpaid Cash Bonus” is the unpaid amount of annual performance-based cash bonus, if any, that Executive is deemed to have earned up to the termination date, and is calculated using the following formula: (i) the actual annual performance-based bonus last paid to Executive (and if no such bonus has been paid to the Executive, then the amount of the Annual Base Salary), multiplied by (ii) the number of months that Executive is deemed to have earned such bonus up to the termination date, but has not been paid pursuant to Section 3(d). Thereafter all obligations of the Bank under this Agreement shall cease. In addition, pursuant to the terms of the Equity Plan, all unvested RSUs that have been granted prior to the date of death shall immediately vest. Nothing in this Section shall affect any entitlement of Executive’s heirs or devisees to the benefits of any life insurance plan or other applicable benefits.
Termination by Death of Executive. Executive’s employment shall terminate automatically upon Executive’s death, in which case the Accrued Obligations as provided in Section 4.4(a) shall be paid out, and all other obligations of the Bank under this Agreement shall cease. In addition, pursuant to the terms of the Equity Plan, all unvested RSUs that have been granted prior to the date of death shall immediately vest. Nothing in this Section shall affect any entitlement of Executive’s heirs or devisees to the benefits of any life insurance plan or other applicable benefits.
Termination by Death of Executive. In the event that the Executive's employment terminates by reason of his death during the Term, then the Company shall have no further obligation to pay any compensation to Executive or his estate or heir(s) beyond the date of termination, except that any then-outstanding but unvested Annual Grants and Additional Grants will become accelerated and fully vested for exercise, settlement or transfer by Executive's estate and heir(s), as applicable.
