Termination in Case of Death Sample Clauses

Termination in Case of Death. 8.1.1 Officer's employment hereunder shall terminate immediately upon the death of Officer.

Termination in Case of Death. In case of Employee's death, any and all unvested stock or options granted to Employee under Section 2.2 of this Agreement shall vest in favor of Employee's estate as provided for in this Section(s) 6.51, 6.5.2, 6.5.3, and 6.5.4 herein. Company shall also continue any health benefits for family for one year. 6.5.1 If the Employee's death occurs within 12 months of the date of this agreement, Six Million (6,000,000) shares granted under Section 2.2 shall immediately vest in favor of Employee's estate and Twenty-Four Million (24,000,000) shall be returned to the Company; 6.5.2 If the Employee's death occurs within 24 months of the date of this agreement, Twelve Million (12,000,000) shares granted under Section 2.2 shall immediately vest in favor of Employee's estate and Eighteen Million (18,000,000) shall be returned to the Company; 6.5.3 If the Employee's death occurs within 36 months of the date of this agreement, Eighteen Million (18,000,000) shares granted under Section 2.2 shall immediately vest in favor of Employee's estate and Twelve Million (12,000,000) shall be returned to the Company; 6.5.4 If the Employee's death occurs within 48 months of the date of this agreement, Twenty-four Million (24,000,000) shares granted under Section 2.2 shall immediately vest in favor of Employee's estate and Six Million (6,000,000) shall be returned to the Company; 6.5.5 Any unvested additional shares granted for past performance under Sections 2.3 and 3.3 shall immediately vest in favor of Employee’s estate.

Termination in Case of Death. (a) This Agreement and Consultant’s employment hereunder will terminate immediately upon the death of Consultant. (b) Upon termination of Consultant’s employment pursuant to this Section 7.1, the Company will pay to Consultant’s designated beneficiary or, if none, his estate, on the Termination Date, a lump sum payment of an amount equal to all accrued and unpaid Consulting Compensation payable to Consultant by the Company with respect to that portion of the Term through the Termination Date (the “Accrued Compensation”) plus the amount Consultant would have earned as Consulting Compensation during the remaining scheduled Term (determined without regard to the termination of this Agreement under this Section 7.1). In addition to the foregoing, and notwithstanding the provisions of any other agreement to the contrary, all options to purchase Common Stock of the Company that have been granted to Consultant by the Company and that would have vested during the 24 months following the Termination Date will become immediately exercisable on the Termination Date and all other equity awards that have been awarded to Consultant, including restricted awards, that would have vested during the 24 months following the Termination Date will become fully vested on the Termination Date and no longer subject to restrictions on transfer (except for performance-based awards, which shall vest only upon satisfaction of the applicable performance goals) and, notwithstanding any other agreement to the contrary, will remain exercisable for the full term of each such option or award.

Termination in Case of Death. 8.1.1 Officer's employment hereunder shall terminate immediately upon the death of Officer. 8.1.2 Upon termination of this Officer's employment pursuant to this Section 8.1, the Company shall pay to Officer's estate, on the Termination Date, a lump sum payment of an amount equal to (x) all accrued and unpaid salary and other compensation payable to Officer by the Company and all accrued and unused vacation and sick pay payable to Officer by the Company with respect to services rendered by Officer to the Company through the Termination Date, and (y) the amount Officer would have earned as Base Salary during the five years following the Termination Date. In addition to the foregoing, and notwithstanding the provisions of any other agreement to the contrary, (x) all options to purchase the Common Stock of the Company which have been granted to Officer and which would have vested during the 24 months following the date of termination shall become immediately exercisable on the Termination Date and, notwithstanding any other agreement to the contrary, shall remain exercisable for the full term of each such option, and (y) the Company shall continue to provide for the benefit of Officer's family the medical benefits referred to in Section 4.4.4 hereof for 60 months following the Termination Date.

Termination in Case of Death. In case of Employee's death, any and all unvested stock or options granted to Employee under Section 2.2 of this Agreement shall vest in favor of Employee's estate as provided for in this Section(s) 6.51, 6.5.2, 6.5.3, and 6.5.4 herein. Company shall also continue any health benefits for family for one year. 6.5.1 If the Employee's death occurs within 12 months of the date of this agreement, Five Million (5,000,000) shares granted under Section 2.2 shall immediately vest in favor of Employee's estate and Ten Million (10,000,000) shall be returned to the Company; 6.5.2 If the Employee's death occurs within 24 months of the date of this agreement, Ten Million (10,000,000) shares granted under Section 2.2 shall immediately vest in favor of Employee's estate and Five Million (5,000,000) shall be returned to the Company; 6.5.3 If the Employee's death occurs within 36 months of the date of this agreement, Twelve Million (12,000,000) shares granted under Section 2.2 shall immediately vest in favor of Employee's estate and Three Million (3,000,000) shall be returned to the Company; 6.5.4 Any unvested additional shares granted for past performance under Sections 2.3 and 3.3 shall immediately vest in favor of Employee’s estate.

Termination in Case of Death. In case of Employee's death, any and all unvested stock or options granted to Employee under Section 2.2 of this Agreement shall vest in favor of Employee's estate as provided for in this Section(s) 6.51, 6.5.2, 6.5.3, and 6.5.4 herein. Company shall also continue any health benefits for family for one year. All stock shall vest as of July 31, 2017. The Company: Minerco Resources, Inc. 000 Xxxxxx Xxxxx, Xxxxx 000 Xxxxxxx, XX 00000 V. Xxxxx Xxxxx 000 Xxxxxx Xxxxx, Xxxxx 000 Xxxxxxx, XX 00000

Termination in Case of Death. In the event of the EMPLOYEE’s termination of employment as a result of his death, his estate will receive the amounts set forth in subsections (i) and (ii) of Section 6.2 and his estate or named beneficiary will receive the life insurance proceeds if they are eligible under the life insurance policies set forth on Exhibit C subject to EMPLOYER’s obligation to maintain such policies in force and pay the premiums when due as set out in Section 4.6. His estate or named beneficiary will receive, if eligible in accordance with the terms of the plans, the current group life and supplemental life insurance proceeds, as described in Exhibit C. In the event of the EMPLOYEE’s termination of employment as a result of his death, the EMPLOYER will cease to pay the premiums for the supplemental life insurance covering his spouse.

Termination in Case of Death. The Employee's employment shall terminate upon his death. In such event the Company shall pay to such person as the Employee

Termination in Case of Death. 8.1.1 Officer's employment hereunder shall terminate immediately upon the death of Officer. 8.1.2 Upon termination of this Officer's employment pursuant to this Section 8.1, the Company shall pay to Officer's estate, on the Termination Date (as hereinafter defined), a lump sum payment of an amount equal to (x) all accrued and unpaid salary and other compensation payable to Officer by the Company and all accrued and unused vacation and sick pay payable to Officer by the Company with respect to services rendered by Officer to the Company through the Termination Date, and (y) the amount Officer would have earned as Base Salary during the twelve months following the Termination Date; provided, however, such amounts shall be reduced by the amount of any payments paid to Officer's estate or heirs under any life insurance policy maintained by the Company for the benefit of Officer pursuant to the provisions of Section 4.4 hereof. In addition to the foregoing, and notwithstanding the provisions of any other agreement to the contrary, (x) all options to purchase the Common Stock of the Company which have been granted to Officer and which would have vested during the 24 months following the date of termination shall become immediately exercisable on the Termination Date and, notwithstanding any other agreement to the contrary, shall remain exercisable for the full term of each such option, and (y) the Company shall continue to provide for the benefit of Officer's family the medical benefits referred to in Section 4.4.3 hereof for the twelve months following the Termination Date.

Termination in Case of Death. In the event of the EXECUTIVE’s termination of employment as a result of his death, his estate will receive the amounts set forth in subsections (i) and (ii) of Section 6.2 and his estate or named beneficiary will receive the life insurance proceeds if they are eligible under the life insurance policies set forth on Exhibit C subject to EMPLOYER’s obligation to maintain such policies in force and pay the premiums when due, as set out in Section 4.6. The EMPLOYER will assign to EXECUTIVE with effect from the Commencement Date the Xxxx Xxxxxxx $4,000,000 life insurance policy but shall continue to pay such premiums as set out in Section 4.6. His estate or named beneficiary will receive, if eligible in accordance with the terms of the plan, the current group life and supplemental life insurance proceeds, as described in Exhibit C. In the event of the EXECUTIVE’s termination of employment as a result of his death, the EMPLOYER will cease to pay the premiums for the supplemental life insurance covering his spouse.