Common use of Termination By Death Of Officer Clause in Contracts

Termination By Death Of Officer. In the event the Officer’s employment with Illini is terminated due to the Officer’s death, Illini shall have no further obligation to the Officer, his heirs or legatees hereunder from the date of such termination, except to notify Officer’s heirs or legatees of earned but unpaid salary and benefits due under the Compensation and Benefit Plans and the value, terms and condition of vested option rights, and to pay Officer’s heirs or legatees amounts due officer hereunder without imposing further condition or reduction thereof and the heirs and legatees of the Officer shall have no further obligation.

Termination By Death Of Officer. In the event the Officer’s employment with Illini is terminated due to the Officer’s death, Illini shall have no further obligation to the Officer, his heirs hears or legatees hereunder from the date of such termination, except to notify Officer’s Officers heirs or legatees of earned but unpaid salary and benefits due under the Compensation and Benefit Plans and the value, terms and condition of vested option rights, rights and to pay Officer’s heirs or legatees amounts due officer hereunder without imposing further condition or reduction thereof and the heirs and legatees of the Officer shall have no further obligation.