Termination by Reason of Death or Total Disability. In the event that the Executive's employment is terminated prior to the expiration of the Term by reason of the Executive's death or Total Disability pursuant to Paragraph 5(a) or 5(b), the Company shall pay the following amounts to the Executive (or the Executive's estate, as the case may be):
i. Any accrued but unpaid Base Salary (as determined pursuant to Paragraph 3) for services rendered to the date of termination;
ii. A prorated amount of Bonus Compensation, to be paid at the time the Executive's Bonus Compensation would have been paid had he remained employed by the Company, computed by multiplying the amount of Bonus Compensation the Executive would have earned for the year in which the termination occurred and the fraction of the year the Executive was employed by the Company;
iii. Any accrued but unpaid expenses required to be reimbursed pursuant to Paragraph 4; and
iv. Any vacation accrued to the date of termination. The benefits to which the Executive may be entitled upon termination pursuant to the plans and programs referred to in Paragraph 4 and the plan and grant thereunder referred to in Paragraph 3(c) hereof shall be determined and paid in accordance with the terms of such plans, programs and grant, except that the Company shall, with respect to any major medical and all other health, accident, or disability plans for which the Executive, or his spouse or legal representative, elects continuation in accordance with COBRA, be responsible for payment of premiums related to the maintenance of such plans for a period of six (6) months following the date of termination.
Termination by Reason of Death or Total Disability. In the event that Executive’s employment is terminated by reason of Executive’s death or Total Disability, the Company will pay the following amounts to Executive, Executive’s beneficiary or estate, as applicable (i) any accrued but unpaid Base Salary for services rendered to the date of termination, any accrued but unpaid expenses required to be reimbursed under the Agreement, any accrued vacation, and any earned but unpaid bonuses for the prior calendar year (“Accrued Compensation”); (ii) any benefits accrued through the date of termination to which Executive may be entitled pursuant to the Company’s plan, policies and arrangements, as determined and paid in accordance with the terms of such plans, policies and arrangements (“Plan Benefits”); and, (iii) a pro rata Target Bonus for the calendar year in which the Death or Total Disability occurs based on the number of days Executive was employed in such calendar year; provided, however, that such bonus will be paid at the time it would have been paid had Executive not terminated employment and will be paid only if the applicable performance conditions are met at the conclusion of the calendar year and the amount will be determined based on the actual satisfaction of the applicable performance criteria.
Termination by Reason of Death or Total Disability. In the event that the Employee’s employment is terminated prior to the expiration of the Term by reason of the Employee’s death or Total Disability, pursuant to Paragraph 5(a) or 5(b) hereof, respectively, the Employee (or the Employee’s spouse or estate, as the case may be) shall be entitled to the following amounts or benefits:
i. any accrued but unpaid Base Salary (as determined pursuant to Paragraph 3(a) hereof) for services rendered to the date of termination in accordance with the Company’s standard payroll practices and any unpaid Bonus previously awarded by the Board in respect of a completed calendar year pursuant to Paragraph 3(b) hereof;
ii. any incurred but unreimbursed expenses required to be reimbursed pursuant to Paragraph 4(a) hereof; and
iii. the benefits to which the Employee and/or the Employee’s family may be entitled upon such termination pursuant to the plans, programs and arrangements referred to in Paragraph 4 hereof, as determined and paid in accordance with the terms of such plans, programs and arrangements.
Termination by Reason of Death or Total Disability. In the event that Executive's employment is terminated by reason of Executive's death or Total Disability:
(i) Executive or his beneficiaries or estate shall be entitled to receive, within fourteen (14) days after the effective date of termination, any accrued but unpaid Base Salary for services rendered by Executive to the Company prior to the date of termination, any accrued but unpaid expenses required to be reimbursed under this Agreement, and cash compensation (at a rate per day equal to the Base Salary divided by the number of business days in the relevant year) for any accrued vacation that remained unused by the Executive at the time of termination.
(ii) Any earned benefits to which Executive (or his beneficiaries or estate) may be entitled pursuant to the plans, policies and arrangements referred to in Section 4(d) hereof shall be determined and paid in accordance with the terms of such plans, policies and arrangements.
(iii) Executive (or his beneficiaries or estate) shall be entitled to be paid his Base Salary on the Company's regular pay days for the greater of the balance of the Employment Term at the time of Executive's death or six (6) months (the "Salary Continuance Period"), plus the average of the cash bonus(es) paid or payable to Executive in the most recently completed fiscal year, pro rated for the balance of the Salary Continuance Period.
(iv) Executive or his beneficiaries or estate shall be entitled to continue to receive life insurance, medical, dental and short-term and long-term disability benefits of the type and amount made available to Executives immediately prior to termination pursuant to the plans, policies and arrangements referred to in Section 4(d) hereof for the Salary Continuance Period; provided, however, if such plans, policies and arrangements do not continue to be maintained by the Company or are otherwise not available to Executive, the Company shall provide for and make available to Executive substantially similar economic benefits as were provided to Executive pursuant to such plans, policies and arrangements as of the effective date of termination.
(v) Any stock options granted Executive prior to the effective date of termination will continue to vest (to the extent such options were unvested at the time of termination) and Executive or his beneficiaries or estate shall be permitted to exercise such options at the same time and in the amounts as would have been the case had Executive remained employed by the Co...
Termination by Reason of Death or Total Disability. In the event that the Employee's employment is terminated prior to the expiration of the Term by reason of the Employee's death or Total Disability, pursuant to Paragraph 6(a) or 6(b) hereof, respectively,
Termination by Reason of Death or Total Disability. In the event that the Employee’s employment is terminated prior to the expiration of the Term by reason of the Employee’s death or Total Disability, pursuant to Paragraph 5(a) or 5(b) hereof, respectively, the Employee (or the Employee’s spouse, designated beneficiary or estate, as the case may be) shall be entitled to the following amounts or benefits:
i. any accrued but unpaid Base Salary (as determined pursuant to Paragraph 3(a) hereof) for services rendered to the date of termination in accordance with the Company’s standard payroll practices, any unpaid Bonus previously awarded by the Board in respect of a completed calendar year pursuant to Paragraph 3(b) hereof and any accrued vacation up to the date of termination;
ii. any incurred but unreimbursed expenses required to be reimbursed pursuant to Paragraph 4(a) hereof; and
iii. the benefits to which the Employee and/or the Employee’s family may be entitled upon such termination pursuant to the plans, programs and arrangements referred to in Paragraph 4 hereof, as determined and paid in accordance with the terms of such plans, programs and arrangements.
Termination by Reason of Death or Total Disability. In the event that Founder's employment is terminated prior to the expiration of the Term by reason of Founder's death or Total Disability pursuant to Section 5(a) or 5(b), the Company shall pay the following amounts to Founder (or Founder's spouse or estate, as the case may be):
(i) any accrued but unpaid Salary (as determined pursuant to Section 3) and any bonus which the Board has declared to be paid to Founder for periods ending before the date of termination but which remains unpaid at the time of termination;
(ii) any accrued but unpaid expenses required to be reimbursed pursuant to Section 4(a); and
(iii) any vacation accrued to the date of termination.
