Common use of Termination Due to Executive’s Death or Disability Clause in Contracts

Termination Due to Executive’s Death or Disability. In the event that Executive’s employment terminates for Death or Disability, Employer shall pay Executive or her estate the following amounts: (a) all accrued but unpaid Base Salary through the date of termination will be paid on the Employer’s next regularly scheduled pay day after termination; (b) a pro rata portion (equal to the number of days in the year through the date of termination relative to the total number of days in the year) of Executive’s STIP bonus for the year in which employment terminates, paid no later than March 15th of the following year and based on achievement of the established performance targets; (c) all accrued but unused vacation earned through the date of termination will be paid on the Employer’s next regularly scheduled pay day after termination; and (d) any reimbursement of expenses owed pursuant to this Agreement will be paid on the Employer’s next regularly scheduled pay day after termination.

Termination Due to Executive’s Death or Disability. In the event that Executive’s employment terminates for Death or Disability, Employer shall pay Executive or her his estate the following amounts: (a) all accrued but unpaid Base Salary through the date of termination will be paid on the Employer’s next regularly scheduled pay day after termination; (b) a pro rata portion (equal to the number of days in the year through the date of termination relative to the total number of days in the year) of Executive’s STIP bonus for the year in which employment terminates, paid no later than March 15th of the following year and based on achievement of the established performance targets; (c) all accrued but unused vacation earned through the date of termination will be paid on the Employer’s next regularly scheduled pay day after termination; and (d) any reimbursement of expenses owed pursuant to this Agreement will be paid on the Employer’s next regularly scheduled pay day after termination.