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

Termination Due to Executive’s Death. This Agreement will terminate immediately upon the Executive's death and the Company shall not have any further liability or obligation to the Executive, the Executive’s executors, heirs, assigns or any other person claiming under or through the Executive’s estate, except as set forth in this paragraph 5(i). The Company shall pay any accrued but unpaid salary or bonuses through the date of termination to Executive’s estate. If the Executive's employment is terminated by the Company for Executive’s death in accordance with this section, the Executive’s estate shall continue to receive the Executive’s base salary and bonus, and the Company shall continue medical and dental benefits for the Executive’s family, by paying the premium for health insurance continuation coverage under COBRA for the Executive’s eligible family to the extent the Executive’s estate elects COBRA coverage (or continue to contribute the employer portion of the premium normally paid by the Company for its current employees), for the Severance Period. The Severance Period shall consist of one hundred eighty (180) days from the date on which employment actually terminates pursuant to this paragraph 5(i). Notwithstanding the foregoing, the Executive’s estate and the Executive’s family shall only become eligible for the compensation and benefits of a Severance Period if the Executive is terminated for death in accordance with this Section at any time after Six (6) months from the date the Executive commenced employment under this Agreement. The sum, if any, payable to the Executive’s estate in respect of the Severance Period shall be payable in equal monthly installments on the Fifteenth (15th) day of each month in the Severance Period. Furthermore, the obligations imposed on Executive with respect to assignment of rights to inventions or developments in this Agreement or any other agreement executed by the parties shall continue, notwithstanding the termination of the employment relationship between the parties. The salary, bonus (if any) and health insurance benefits to be provided under this paragraph 5(i) are sometimes hereinafter referred to as "Termination Compensation." The Executive’s estate and the Executive’s family shall not be entitled to any Termination Compensation unless the Executive’s estate executes and delivers to the Company after a notice of termination a release in form and substance reasonably satisfactory to the Company by which the Executive’s estate releases the Company from any obligations and liabilities of any type whatsoever under this Agreement, except for the Company's obligations with respect to the Termination Compensation, which release shall not affect the Executive’s estate’s right to indemnification, if any, for actions taken within the scope of the Executive’s employment or the Executive’s estate’s rights in respect of the Executive’s vested Restricted Stock. The parties hereto acknowledge that the Termination Compensation to be provided under this paragraph 5(i) is to be provided in consideration for the above-specified release. The Executive’s estate and the Executive’s family will not be entitled to and shall not receive any other compensation or benefits of any type following the effective date of termination, except such benefits as may be required to be extended under applicable state or Federal law.

Termination Due to Executive’s Death. This Agreement will terminate immediately upon the Executive's death and the Company shall not have any further liability or obligation to the Executive, the Executive’s executors, heirs, assigns or any other person claiming under or through the Executive’s estate, except as set forth in this paragraph 5(i5(h). The Company shall pay any accrued but unpaid salary or bonuses through the date of termination to Executive’s estate. If the Executive's employment is terminated by the Company for Executive’s death in accordance with this section, the Executive’s estate shall continue to receive the Executive’s base salary and bonus, and the Company shall continue medical and dental benefits for the Executive’s eligible family, by paying the premium for health insurance continuation coverage under COBRA for the Executive’s eligible family to the extent the Executive’s estate elects COBRA coverage (or continue by continuing to contribute the employer portion of the premium normally paid by the Company for its current employees), for the Severance Period. The Severance Period shall consist of one hundred eighty ninety (18090) days from the date on which employment actually terminates pursuant to this paragraph 5(i5(h). Notwithstanding the foregoing, the Executive’s estate and the Executive’s family shall only become eligible for the compensation and benefits of a Severance Period if the Executive is terminated for death in accordance with this Section at any time after Six six (6) months from the date the Executive commenced employment under this Agreement. The sum, if any, payable to the Executive’s estate in respect of the Severance Period shall be payable in equal monthly installments on the Fifteenth fifteenth (15th) day of each month in the Severance Period. Furthermore, the obligations imposed on Executive with respect to assignment of rights to inventions or developments in this Agreement or any other agreement executed by the parties shall continue, notwithstanding the termination of the employment relationship between the parties. The salary, bonus (if any) and health insurance benefits to be provided under this paragraph 5(i5(h) are sometimes hereinafter referred to as "Termination Compensation." The Executive’s estate and the Executive’s family shall not be entitled to any Termination Compensation unless the Executive’s estate executes and delivers to the Company after a notice of termination a general release in form and substance reasonably satisfactory to the Company by which the Executive’s estate releases the Company from any obligations and liabilities of any type whatsoever including those under this Agreement, except for the Company's obligations with respect to the Termination Compensation, which general release shall not affect the Executive’s estate’s right to indemnification, if any, for actions taken within the scope of the Executive’s employment or the Executive’s estate’s rights in respect of the Executive’s vested Restricted Stock. The parties hereto acknowledge that the Termination Compensation to be provided under this paragraph 5(i5(h) is to be provided in consideration for the above-specified general release. The Executive’s estate and the Executive’s family will not be entitled to and shall not receive any other compensation or benefits of any type following the effective date of termination, except such benefits as may be required to be extended under applicable state State or Federal law.

Termination Due to Executive’s Death. This Agreement will terminate immediately upon the Executive's death and the Company shall not have any further liability or obligation to the Executive, the Executive’s executors, heirs, assigns or any other person claiming under or through the Executive’s estate, except as set forth in this paragraph 5(i5(g). The Company shall pay any accrued but unpaid salary or bonuses through the date of termination to Executive’s estate. If the Executive's employment is terminated by the Company for Executive’s death in accordance with this section, the Executive’s estate shall continue to receive the Executive’s base salary and bonus, and the Company shall continue medical and dental benefits for the Executive’s family, by paying the premium for health insurance continuation coverage under COBRA for the Executive’s eligible family to the extent the Executive’s estate elects COBRA coverage (or continue to contribute the employer portion of the premium normally paid by the Company for its current employees), for the Severance Period. The Severance Period shall consist of one hundred eighty (180) days from the the date on which employment actually terminates pursuant to this paragraph 5(i5(g). Notwithstanding the foregoing, the Executive’s estate and the Executive’s family shall only become eligible for the compensation and benefits of a Severance Period if the Executive is terminated for death in accordance with this Section at any time after Six (6) months from the date the Executive commenced employment under this Agreement. The sum, if any, payable to the Executive’s estate in respect of the Severance Period shall be payable in equal monthly installments on the Fifteenth (15th) day of each month in the Severance Period. Furthermore, the obligations imposed on Executive with respect to confidentiality, non-disclosure and assignment of rights to inventions or developments in this Agreement or any other agreement executed by the parties shall continue, notwithstanding the termination of the employment relationship between the parties. The salary, bonus (if any) and health insurance benefits to be provided under this paragraph 5(i5(g) are sometimes hereinafter referred to as "Termination Compensation." The Executive’s estate and the Executive’s family shall not be entitled to any Termination Compensation unless the Executive’s estate executes and delivers to the Company after a notice of termination a release in form and substance reasonably satisfactory to the Company by which the Executive’s estate releases the Company from any obligations and liabilities of any type whatsoever under this Agreement, except for the Company's obligations with respect to the Termination Compensation, which release shall not affect the Executive’s estate’s right to indemnification, if any, for actions taken within the scope of the Executive’s employment or the Executive’s estate’s rights in respect of the Executive’s vested Restricted Stock. The parties hereto acknowledge that the Termination Compensation to be provided under this paragraph 5(i5(g) is to be provided in consideration for the above-specified release. The Executive’s estate and the Executive’s family will not be entitled to and shall not receive any other compensation or benefits of any type following the effective date of termination, except such benefits as may be required to be extended under applicable state or Federal law.

Termination Due to Executive’s Death. This Agreement will terminate immediately upon the Executive's death and the Company shall not have any further liability or obligation to the Executive, the Executive’s executors, heirs, assigns or any other person claiming under or through the Executive’s estate, except as set forth in this paragraph 5(i). The Company shall pay any accrued but unpaid salary or bonuses through the date of termination to Executive’s estate. If the Executive's employment is terminated by the Company for Executive’s death in accordance with this section, the Executive’s estate shall continue to receive the Executive’s base salary and bonus, and the Company shall continue medical and dental benefits for the Executive’s family, by paying the premium for health insurance continuation coverage under COBRA for the Executive’s eligible family to the extent the Executive’s estate elects COBRA coverage (or continue to contribute the employer portion of the premium normally paid by the Company for its current employees), for the Severance Period. The Severance Period shall consist of one hundred eighty (180) days year from the date on which employment actually terminates pursuant to this paragraph 5(i). Notwithstanding the foregoing, the Executive’s estate and the Executive’s family shall only become eligible for the compensation and benefits of a Severance Period if the Executive is terminated for death in accordance with this Section at any time after Six Twelve (612) months from the date the Executive commenced employment under this Agreement. The sum, if any, payable to the Executive’s estate in respect of the Severance Period shall be payable in equal monthly installments on the Fifteenth (15th) day of each month in the Severance Period. Furthermore, the obligations imposed on Executive with respect to assignment of rights to inventions or developments in this Agreement or any other agreement executed by the parties shall continue, notwithstanding the termination of the employment relationship between the parties. The salary, bonus (if any) and health insurance benefits to be provided under this paragraph 5(i) are sometimes hereinafter referred to as "Termination Compensation." The Executive’s estate and the Executive’s family shall not be entitled to any Termination Compensation unless the Executive’s estate executes and delivers to the Company after a notice of termination a release in form and substance reasonably satisfactory to the Company by which the Executive’s estate releases the Company from any obligations and liabilities of any type whatsoever under this Agreement, except for the Company's obligations with respect to the Termination Compensation, which release shall not affect the Executive’s estate’s right to indemnification, if any, for actions taken within the scope of the Executive’s employment or the Executive’s estate’s rights in respect of the Executive’s vested Restricted Stock. The parties hereto acknowledge that the Termination Compensation to be provided under this paragraph 5(i) is to be provided in consideration for the above-specified release. The Executive’s estate and the Executive’s family will not be entitled to and shall not receive any other compensation or benefits of any type following the effective date of termination, except such benefits as may be required to be extended under applicable state or Federal law.