Termination of Employment Because of Death Sample Clauses

Termination of Employment Because of Death. If Employee's employment is terminated as a result of the Employee's death before the expiration of the Term, the Company shall pay Employee's legal representatives the Accrued Amount as of the date of Employee's death, and, in addition, the product of three (3) times the greater of (1) the sum of the amounts paid or payable to Employee pursuant to Sections 4 and 5 hereunder (and the short-term portion of any bonus amounts paid or payable pursuant to Section 6 hereunder) for the calendar year preceding the calendar year in which the death occurs or (2) the sum of the amounts paid or payable to Employee pursuant to Sections 4 and 5 hereunder (and the short-term portion of any bonus amounts paid or payable pursuant to Section 6 hereunder) during the one-year period ending on the date of such death, provided that if such date of death occurs before the first anniversary of the date hereof, the cash lump sum payment shall be equal to the product of three (3) times the sum of (x) Employee's annualized base salary pay rate in effect as of such date of death and (y) the maximum bonus that would have been payable for the year that includes such date of death if all of the conditions for the payment of such maximum bonus had been satisfied, less the proceeds receivable by Employee's heirs and legal representatives from any life insurance policy provided by the Company.
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Termination of Employment Because of Death. In the event of the Participant's death, this Option shall, to the extent rights to purchase shares hereunder have vested at the date of death and shall not have been fully exercised, be exercisable, in whole or in part, by the personal representative of the Participant's estate, by any person or persons who shall have acquired this Option directly from the Participant by bequest or inheritance at any time during the following periods: (i) if Participant dies while employed by the Company, at any time within five (5) years after the date of death, or (ii) if Participant dies during the extended exercise period following termination of employment specified in Section 8(b), (c), or (d) above, at any time within the longer time of such extended period or one year after the date of death, subject, however, in each case, to the prior expiration of the term of this Option and any other limitations on the exercise of such Option in effect at the date of exercise.
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Termination of Employment Because of Death. (a) If the Executive incurs a Separation from Service on account of his death during the Term, the Company shall pay to the Executive’s Beneficiary any earned but unpaid Base Salary, and accrued and unused vacation days, in accordance with the Company’s customary payroll practices and vacation plan, provided, however, that such payments shall in no event be made later than thirty (30) days following the Executive’s Separation from Service or, if earlier, the latest time permitted by applicable law. The Executive’s business expenses incurred through the date of the Executive’s Separation from Service shall be reimbursed pursuant to Paragraph 2.6 hereof and paid to the Executive’s Beneficiary. The Executive’s dependents may continue to participate in the benefit plans as described in Paragraph 2.3 to the extent the Executive’s dependents are eligible to participate in such benefit plans pursuant to the terms of such benefit plans, and to the extent continuation in such benefit plans does not violate with Code Section 409A. (b) In the event that the Executive incurs a Separation from Service with the Company on account of his death during the Term, and the Company satisfies its obligations under Section 7 hereof, the Company shall have no further obligation or liability to the Executive, except as under Paragraph 2.4(b) hereof.
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Termination of Employment Because of Death. In the event of the Employee’s death, this Option shall, to the extent rights to purchase shares hereunder have vested at the date of death and shall not have been fully exercised, be exercisable, in whole or in part, by the personal representative of the Employee’s estate, by any person or persons who shall have acquired this Option directly from the Employee by bequest or inheritance at any time during the following periods: (i) if Employee dies while employed by the Company, at any time within five (5) years after the date of death, or (ii) if Employee dies during the extended exercise period following termination of employment specified in paragraph 8(b) above, at any time within the longer time of such extended period or one year after the date of death, subject, however, in each case, to the prior expiration of the term of this Option (which shall be the same as the Original Option) and any other limitations on the exercise of such Option in effect at the date of exercise.
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Termination of Employment Because of Death. If Employee's employment is terminated as a result of the Employee's death before the expiration of the Term, the Company shall pay Employee's legal representatives the Accrued Amount as of the date of Employee's death, and, in addition, the consideration provided for in Section 4 hereof, at the rate in effect at the date of termination, for one year after such death, less the proceeds receivable by Employee's heirs and legal representatives from any life insurance policy provided by the Company. In addition, Employee shall be entitled to receive an amount equal to the product that results from multiplying the amount of the bonus paid to him pursuant to Section 5 hereof for the calendar year prior to the year in which Employee dies multiplied by a fraction, the numerator of which is the number of days that Employee was alive during the year in which the death occurs and the denominator of which is 365.
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Termination of Employment Because of Death. If you die while employed by the Company, the Stock Option (whether or not then exercisable under Paragraph 3 of this Agreement) may be exercised, in whole or in part, to the extent not previously exercised, forfeited, revoked or modified, only during the period (i) beginning on the date of your death; and (ii) ending on and including the earlier of (A) July 26, 2010 or (B) the third anniversary of the date of your death.
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Termination of Employment Because of Death. If Employee’s employment is terminated as a result of the Employee’s death before the expiration of the Term, the Company shall pay Employee’s legal representatives the Accrued Amount as of the date of Employee’s death, and, in addition, the product of 2.99 times the greater of (1) the sum of (x) the then current annual base salary payable to Employee pursuant to Section 4 plus (y) the amounts paid or payable or awarded to Employee pursuant to Sections 5 and 6 hereunder for the calendar year preceding the calendar year in which the death occurs or (2) the sum of (x) the current annual base salary payable to Employee pursuant to Section 4 plus (y) the amounts paid or payable or awarded to Employee pursuant to Sections 5 and 6 hereunder during the one-year period ending on the date of such death less the proceeds, if any, receivable by Employee’s heirs and legal representatives from any life insurance policy provided by the Company.
Sample 1
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Termination of Employment Because of Death. If you die while employed by Delta, your Stock Options may be exercised, in whole or in part, only during the period (i) beginning on the date of your death; and (ii) ending on and including the earlier of (A) January 23, 2012 or (B) the third anniversary of the date of your death.
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Related to Termination of Employment Because of Death

  • Termination Because of Death or Disability If Participant is Terminated because of death or Disability of Participant, the Option, to the extent that it is exercisable by Participant on the date of Termination, may be exercised by Participant (or Participant's legal representative) no later than twelve (12) months after the date of Termination, but in any event no later than the Expiration Date.

  • Termination of Employment Executive's employment hereunder may be terminated under the following circumstances:

  • Termination of Employment by Death The Employee's Employment will terminate automatically at the time of his death. If the Employee's Employment terminates by reason of the Employee's death, the Company will pay to the Person the Employee has designated in a written notice delivered to the Company as his beneficiary entitled to that payment, if any, or to the Employee's estate, as applicable, in a cash lump sum within 30 days after the Termination Date, the amount equal to the sum of (i) the portion of the Base Salary through the end of the month in which the Termination Date occurs which has not yet been paid, (ii) all compensation the Employee has previously deferred (together with any accrued interest or earnings thereon) which has not yet been paid, (iii) any accrued but unpaid vacation pay (if the Employee dies while on Active Status) and (iv) (A) if the Employee dies while on Active Status or during the Part-time Employment Period (other than during the last 12 months of the Part-time Employment Period), an amount equal to the Base Salary being paid for the Compensation Year in which he dies or (B) if the Employee dies during the last 12 months of the Part-time Employment Period, the product of (1) one-twelfth of the Base Salary being paid for the Compensation Year in which the Employee dies multiplied by (2) the number of whole and partial calendar months in the period beginning with the first calendar month after the calendar month in which he dies and ending with the last calendar month in which the Termination Date would have occurred if the Employee's Employment were to have continued to the end of the Part-time Employment Period. For purposes of this Section 5(d), if the anniversary of the Effective Date in the Compensation Year in which the Employee dies has not occurred on or before the Termination Date, the Base Salary for that Compensation Year will be calculated on the assumption that no increase in the amount thereof would be made effective as of that anniversary pursuant to Section 4(a) or 5(e)(i), as applicable.

  • Involuntary Termination of Employment If the Executive does not exercise his withdrawal rights pursuant to Subsection 2.2, and the Executive's employment with the Bank is involuntarily terminated for any reason, including a termination due to disability of the Executive but excluding termination for Cause, or termination following a Change in Control within thirty-six (36) months of such Change in Control, within thirty (30) days of such involuntary termination of employment, the Bank shall be required to make an immediate lump sum Contribution to the Executive's Retirement Income Trust Fund in an amount equal to: (i) the full Contribution required for the Plan Year in which such involuntary termination occurs, if not yet made, plus (ii) the present value (computed using a discount rate equal to the Interest Factor) of all remaining Contributions to the Retirement Income Trust Fund; provided however, that, if necessary, an additional amount shall be contributed to the Retirement Income Trust Fund which is sufficient to provide the Executive with after tax benefits (assuming a constant tax rate equal to the rate in effect as of the date of the Executive's termination) beginning at his Benefit Age, equal in amount to that benefit which would have been payable to the Executive if no secular trust had been implemented and the benefit obligation had been accrued under APB Opinion No. 12, as amended by FAS 106.

  • Termination of Employment Period The Agreement Term shall terminate upon the occurrence of any of the following:

  • Voluntary Termination of Employment If during the Employment Term, Executive terminates his employment under circumstances other than those specified elsewhere in this Section 8, Executive shall be entitled to the payments and benefits specified in Section 8(a).

  • Other Termination of Employment In the event of your voluntary termination (other than a Retirement subject to Section 2(c) or a Qualifying Termination subject to Section 2(f)), or termination by the Company or a subsidiary of the Company for misconduct or other conduct deemed by the Company to be detrimental to the interests of the Company or a subsidiary of the Company, you shall forfeit all unvested RSUs on the date of termination.

  • Termination of Employment Due to Death or Disability If your employment with the Company terminates due to death or Disability, in each case, prior to the Vesting Date, your Adjusted PSUs will vest and convert into Shares on the Adjustment Date (even though you are not employed by the Company on the Vesting Date). Upon a termination of employment due to death, the Adjusted PSUs shall be delivered in accordance with Section 10.

  • Termination of Employment Due to Death The Officer’s employment with the Bank shall terminate, automatically and without any further action on the part of any party to this Agreement, on the date of the Officer’s death. In such event, the Bank shall pay and deliver to his estate and surviving dependents and beneficiaries, as applicable, the Standard Termination Entitlements.

  • Termination of Employment for Cause If Optionee’s employment with the Bancorp or a subsidiary corporation is terminated for cause, this option shall expire thirty (30) days from the date of such termination. Termination for cause shall include, but not be limited to, termination for malfeasance or gross misfeasance in the performance of duties or conviction of a crime involving moral turpitude, and, in any event, the determination of the Board of Directors with respect thereto shall be final and conclusive.

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