Common use of Termination in Case of Death Clause in Contracts

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.