Termination Due to Executive’s Death. Executive’s employment under this Agreement will terminate immediately upon the Executive’s death, and the Company shall not have any further liability or obligation to the Executive, his executors, heirs, assigns or any other person claiming under or through his estate, except that the Executive’s estate shall receive any accrued but unpaid salary or bonuses, and the Company shall provide severance pay to the Executive’s estate in an amount equal to one-half of his then-current annual Total Cash Compensation (i.e., six months of severance). Any severance pay shall be payable in accordance with the Company’s normal payroll schedule, as if the Executive’s employment had continued during the six (6) months subsequent to the Executive’s death.
Appears in 6 contracts
Samples: Employment Agreement (Motient Corp), Employment Agreement (Motient Corp), Employment Agreement (Motient Corp)
