Common use of Termination by Death Clause in Contracts

Termination by Death. If Executive’s employment is terminated by death, Executive’s estate shall be entitled to receive (i) Executive’s fully earned but unpaid base salary, through the date of death at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time of Executive’s death, (ii) an amount equal to Executive’s annual base salary as in effect immediately prior to the date of death, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following Executive’s death, (iii) an amount equal to Executive’s Bonus for the year in which Executive’s death occurs prorated for the period during such year Executive was employed prior to his or her death, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following Executive’s death, and (iv) for the period beginning on the date of death and ending on the date which is twelve (12) full months following the date of death, the Company shall pay for and provide Executive’s dependents with healthcare and life insurance benefits coverage to the extent such dependents were receiving such benefits prior to the date of Executive’s death, including, if necessary, paying the costs associated with continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). In addition, if Executive’s employment is terminated by death, the vesting and/or exercisability of Executive’s outstanding Stock Awards shall be automatically accelerated on the date of death as to the number of shares that would vest over the twelve (12) months following Executive’s death under the applicable vesting schedules had Executive remained continuously employed by the Company during such period. Except as otherwise provided above with respect to accelerated vesting, if Executive’s employment is terminated by death, the provisions of the award agreements governing Executive’s Stock Awards regarding the exercisability of such Stock Awards following Executive’s death shall apply.

Appears in 18 contracts

Samples: Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc)

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Termination by Death. If Executive’s employment is terminated by death, Executive’s estate shall be entitled to receive (i) Executive’s fully earned but unpaid base salary, through the date of death at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time of Executive’s death, (ii) an amount equal to Executive’s annual base salary as in effect immediately prior to the date of death, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months on the first scheduled payment date pursuant to the usual payroll practices of the Company immediately after the 60th day following Executive’s death, (iii) an amount equal to Executive’s Bonus for the year in which Executive’s death occurs prorated for the period during such year Executive was employed prior to his or her death, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months on the first scheduled payment date pursuant to the usual payroll practices of the Company immediately after the 60th day following Executive’s death, and (iv) for the period beginning on the date of death and ending on the date which is twelve (12) full months following the date of death, the Company shall pay for and provide Executive’s dependents with healthcare and life insurance benefits coverage to the extent such dependents were receiving such benefits prior to the date of Executive’s death, including, if necessary, paying the costs associated with continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). In addition, if Executive’s employment is terminated by death, the vesting and/or exercisability of Executive’s outstanding Stock Awards shall be automatically accelerated on the date of death as to the number of shares that would vest over the twelve (12) months following Executive’s death under the applicable vesting schedules had Executive remained continuously employed by the Company during such period. Except as otherwise provided above with respect to accelerated vesting, if Executive’s employment is terminated by death, the provisions of the award agreements governing Executive’s Stock Awards regarding the exercisability of such Stock Awards following Executive’s death shall apply.

Appears in 12 contracts

Samples: Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc)

Termination by Death. If Executive’s employment is terminated by death, Executive’s estate shall be entitled to receive (i) Executive’s fully earned but unpaid base salary, through the date of death at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time of Executive’s death, (ii) an amount equal to Executive’s annual base salary as in effect immediately prior to the date of death, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months on the first scheduled payment date pursuant to the usual payroll practices of the Company immediately after the 60th day following Executive’s death, (iii) an amount equal to Executive’s Bonus for the year in which Executive’s death occurs occurs, prorated for the period during such year Executive was employed prior to his or her death, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months on the first scheduled payment date pursuant to the usual payroll practices of the Company immediately after the 60th day following Executive’s death, and (iv) for the period beginning on the date of death and ending on the date which is twelve (12) full months following the date of death, the Company shall pay for and provide Executive’s dependents with healthcare and life insurance benefits coverage to the extent such dependents were receiving such benefits prior to the date of Executive’s death, including, if necessary, paying the costs associated with continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). In addition, if Executive’s employment is terminated by death, the vesting and/or exercisability of Executive’s outstanding Stock Awards shall be automatically accelerated on the date of death as to the number of shares that would vest over the twelve (12) months following Executive’s death under the applicable vesting schedules had Executive remained continuously employed by the Company during such period. Except as otherwise provided above with respect to accelerated vesting, if Executive’s employment is terminated by death, the provisions of the award agreements governing Executive’s Stock Awards regarding the exercisability of such Stock Awards following Executive’s death shall apply.

Appears in 6 contracts

Samples: Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc)

Termination by Death. If Executive’s 's employment is terminated by death, Executive’s 's estate shall be entitled to receive (i) Executive’s 's fully earned but unpaid base salary, through the date of death at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time of Executive’s 's death, (ii) an amount equal to Executive’s 's annual base salary as in effect immediately prior to the date of death, payable over the twelve (12) month period commencing on the date of death in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following Executive’s deathequal monthly installments, (iii) an amount equal to Executive’s 's Bonus for the year in which Executive’s 's death occurs prorated for the period during such year Executive was employed prior to his or her death, payable over the twelve (12) month period commencing on the date of death in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following Executive’s deathequal monthly installments, and (iv) for the period beginning on the date of death and ending on the date which is twelve (12) full months following the date of death, the Company shall pay for and provide Executive’s 's dependents with healthcare and life insurance benefits coverage to the extent such dependents were receiving such benefits prior to the date of Executive’s 's death, including, if necessary, paying the costs associated with continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA"). In addition, if Executive’s 's employment is terminated by death, the vesting and/or exercisability of Executive’s 's outstanding Stock Awards shall be automatically accelerated on the date of death as to the number of shares that would vest over the twelve (12) months following Executive’s 's death under the applicable vesting schedules had Executive remained continuously employed by the Company during such period. Except as otherwise provided above with respect to accelerated vesting, if Executive’s 's employment is terminated by death, the provisions of the award agreements governing Executive’s 's Stock Awards regarding the exercisability of such Stock Awards following Executive’s 's death shall apply.

Appears in 6 contracts

Samples: Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc)

Termination by Death. If Executive’s employment is terminated by death, Executive’s estate shall be entitled to receive (i) Executive’s fully earned but unpaid base salary, through the date of death at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time of Executive’s death, (ii) an amount equal to Executive’s annual base salary as in effect immediately prior to the date of death, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following Executive’s death, (iii) an amount equal to Executive’s Bonus for the year in which Executive’s death occurs prorated for the period during such year Executive was employed prior to his or her deathoccurs, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following Executive’s death, and (iv) for the period beginning on the date of death and ending on the date which is twelve (12) full months following the date of death, the Company shall pay for and provide Executive’s dependents with healthcare and life insurance benefits coverage to the extent such dependents were receiving such benefits prior to the date of Executive’s death, including, if necessary, paying the costs associated with continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). In addition, if Executive’s employment is terminated by death, the vesting and/or exercisability of Executive’s outstanding Stock Awards shall be automatically accelerated on the date of death as to the number of shares that would vest over the twelve (12) months following Executive’s death under the applicable vesting schedules had Executive remained continuously employed by the Company during such period. Except as otherwise provided above with respect to accelerated vesting, if Executive’s employment is terminated by death, the provisions of the award agreements governing Executive’s Stock Awards regarding the exercisability of such Stock Awards following Executive’s death shall apply.

Appears in 2 contracts

Samples: Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc)

Termination by Death. If Executive’s employment is terminated by death, Executive’s estate shall be entitled to receive (i) Executive’s fully earned but unpaid base salary, through the date of death at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time of Executive’s death, (ii) an amount equal to Executive’s annual base salary as in effect immediately prior to the date of death, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months on the first scheduled payment date pursuant to the usual payroll practices of the Company immediately after the 60th day following Executive’s death, (iii) an amount equal to Executive’s Bonus for the year in which Executive’s death occurs occurs, prorated for the period during such year Executive was employed prior to his or her death, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months on the first scheduled payment date pursuant to the usual payroll practices of the Company immediately after the 60th day following Executive’s death, and (iv) for the period beginning on the date of death and ending on the date which is twelve (12) full months following the date of death, the Company shall pay for and provide Executive’s dependents with healthcare and life insurance benefits coverage to the extent such dependents were receiving such benefits prior to the date of Executive’s death, including, if necessary, paying the costs associated with continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). In addition, if Executive’s employment is terminated by death, the vesting and/or exercisability of Executive’s outstanding Stock Awards shall be automatically accelerated on the date of death as to the number of shares that would vest over the twelve (12) months following Executive’s death under the applicable vesting schedules had Executive remained continuously employed by the Company during such period. Except as otherwise provided above with respect to accelerated vesting, if Executive’s employment is terminated by death, the provisions of the award agreements governing Executive’s Stock Awards regarding the exercisability of such Stock Awards following Executive’s death shall apply.

Appears in 2 contracts

Samples: Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc)

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Termination by Death. If Executive’s employment is terminated by death, Executive’s estate shall be entitled to receive (i) Executive’s fully earned but unpaid base salary, through the date of death at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time of Executive’s death, (ii) an amount equal to Executive’s annual base salary as in effect immediately prior to the date of death, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months on the first scheduled payment date pursuant to the usual payroll practices of the Company immediately after the 60th day following Executive’s death, (iii) an amount equal to Executive’s Bonus for the year in which Executive’s death occurs prorated for the period during such year Executive was employed prior to his or her deathoccurs, payable in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months on the first scheduled payment date pursuant to the usual payroll practices of the Company immediately after the 60th day following Executive’s death, and (iv) for the period beginning on the date of death and ending on the date which is twelve (12) full months following the date of death, the Company shall pay for and provide Executive’s dependents with healthcare and life insurance benefits coverage to the extent such dependents were receiving such benefits prior to the date of Executive’s death, including, if necessary, paying the costs associated with continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). In addition, if Executive’s employment is terminated by death, the vesting and/or exercisability of Executive’s outstanding Stock Awards shall be automatically accelerated on the date of death as to the number of shares that would vest over the twelve (12) months following Executive’s death under the applicable vesting schedules had Executive remained continuously employed by the Company during such period. Except as otherwise provided above with respect to accelerated vesting, if Executive’s employment is terminated by death, the provisions of the award agreements governing Executive’s Stock Awards regarding the exercisability of such Stock Awards following Executive’s death shall apply.

Appears in 2 contracts

Samples: Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc)

Termination by Death. If Executive’s employment is terminated by death, Executive’s estate shall be entitled to receive (i) Executive’s fully earned but unpaid base salary, through the date of death at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time of Executive’s death, (ii) an amount equal to Executive’s annual base salary as in effect immediately prior to the date of death, payable over the twelve (12) month period commencing on the date of death in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following Executive’s deathequal monthly installments, (iii) an amount equal to Executive’s Bonus for the year in which Executive’s death occurs prorated for the period during such year Executive was employed prior to his or her death, payable over the twelve (12) month period commencing on the date of death in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following Executive’s deathequal monthly installments, and (iv) for the period beginning on the date of death and ending on the date which is twelve (12) full months following the date of death, the Company shall pay for and provide Executive’s dependents with healthcare and life insurance benefits coverage to the extent such dependents were receiving such benefits prior to the date of Executive’s death, including, if necessary, paying the costs associated with continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). In addition, if Executive’s employment is terminated by death, the vesting and/or exercisability of Executive’s outstanding Stock Awards shall be automatically accelerated on the date of death as to the number of shares that would vest over the twelve (12) months following Executive’s death under the applicable vesting schedules had Executive remained continuously employed by the Company during such period. Except as otherwise provided above with respect to accelerated vesting, if Executive’s employment is terminated by death, the provisions of the award agreements governing Executive’s Stock Awards regarding the exercisability of such Stock Awards following Executive’s death shall apply.

Appears in 1 contract

Samples: Employment Agreement (Santarus Inc)

Termination by Death. If Executive’s 's employment is terminated by death, Executive’s 's estate shall be entitled to receive (i) Executive’s 's fully earned but unpaid base salary, through the date of death at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time of Executive’s 's death, (ii) an amount equal to Executive’s 's annual base salary as in effect immediately prior to the date of death, payable over the twelve (12) month period commencing on the date of death in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following Executive’s deathequal monthly installments, (iii) an amount equal to Executive’s 's Bonus for the year in which Executive’s 's death occurs prorated for the period during such year Executive was employed prior to his or her deathoccurs, payable over the twelve (12) month period commencing on the date of death in a lump sum as soon as administratively practicable but in any event no later than two and one-half (2 1/2) months following Executive’s deathequal monthly installments, and (iv) for the period beginning on the date of death and ending on the date which is twelve (12) full months following the date of death, the Company shall pay for and provide Executive’s 's dependents with healthcare and life insurance benefits coverage to the extent such dependents were receiving such benefits prior to the date of Executive’s 's death, including, if necessary, paying the costs associated with continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA"). In addition, if Executive’s 's employment is terminated by death, the vesting and/or exercisability of Executive’s 's outstanding Stock Awards shall be automatically accelerated on the date of death as to the number of shares that would vest over the twelve (12) months following Executive’s 's death under the applicable vesting schedules had Executive remained continuously employed by the Company during such period. Except as otherwise provided above with respect to accelerated vesting, if Executive’s 's employment is terminated by death, the provisions of the award agreements governing Executive’s 's Stock Awards regarding the exercisability of such Stock Awards following Executive’s 's death shall apply.

Appears in 1 contract

Samples: Employment Agreement (Santarus Inc)

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